- NAIROBI, Kenya, Aug 3 – Chinese smartphone company Infinix and the United Nations Educational, Scientific and Cultural Organization (UNESCO) have teamed up to launch an artificial intelligence (AI) robot project in Kenya. Michael Zeng, brand manager of Infinix Kenya, said the CogLabs project, which…
- ISTANBUL, Aug. 2 (Xinhua) — The U.S. federal government’s public debt has surged beyond 35 trillion U.S. dollars for the first time, a threshold that an expert has described as a sign of problematic borrowing. Sant Manukyan, an analyst at Is Yatirim, the investment banking division of Isbank Group…
- NAIROBI, Kenya, Aug 2 – Environment and Sanitation nominee Aden Duale says he is worth Sh980 million, up from his Sh851 million net worth when he assumed office as Defence Cabinet Secretary in October 2022. Duale made the revelations before the National Assembly Committee on Appointments for…
- NAIROBI, Kenya, Aug 2 – Environment and Sanitation nominee Aden Duale has vowed to revoke title deeds of high level state officers including MPs who have been linked to the 66 acre Oloolua forest invasion that has caused an outcry in Kajiado County. If approved, Duale has said his first 30 days in…
- AUG 2 – Former CNN star presenter Don Lemon has sued multi-billionaire Elon Musk and his social media company X, formerly known as Twitter, over the cancellation of a talk show deal. The lawsuit alleges that Mr Musk and his company unfairly terminated a partnership with Mr Lemon and refused to pay…
- AUG 2 – The new Labour government has shelved £1.3bn of funding promised by the Conservatives for tech and Artificial Intelligence (AI) projects, the BBC has learned. It includes £800m for the creation of an exascale supercomputer at Edinburgh University and a further £500m for AI Research Resource…
- NAIROBI, Kenya, Aug 2 – Five Kenyan startups have received a Sh81 million boost from TRANSFORM, an impact accelerator backed by Unilever, the British High Commission (BHC), and EY. They include Gwiji, which connects cleaners to jobs digitally; Novek, a company that seeks to eliminate single-use…
- AUG 2 – Prices in the UK rose by 2% in the year to June 2024, unchanged from May, which was the lowest figure for almost three years. The Bank of England has a target to keep inflation at 2%. While inflation was well above that, the Bank put interest rates up to 5.25% in […]
- SAN FRANCISCO, Aug. 2 (Xinhua) — Intel said Thursday it will cut 15,000 jobs across the company as the chipmaker pursues fundamental changes amid growing competition from its rivals. “We plan to deliver 10 billion dollars in cost savings in 2025, and this includes reducing our head count by roughly…
- NAIROBI, Kenya, Aug 2 – Micro-lender Watu plans to finance 10,000 electric bikes this year as adoption of clean modes of transportation grows. This is contained in the firm’s first Sustainability Report. “To reduce its carbon footprint, Watu has set an ambitious target of increasing financing for…
- AUG 2 – Sales at Apple rebounded this spring, overcoming weakness in China and a dip in iPhone sales, delivering some good news to jittery financial markets. The tech giant said it took in $85.8bn (£67.3bn) in revenue over the three months to June, up 5% year-on-year – a return to growth after a…
- SAN FRANCISCO, Aug. 2 (Xinhua) — Amazon.com, Inc. on Thursday announced its financial results for the second quarter, with a 10-percent net sales increase year on year. Amazon’s net sales grew to 148.0 billion U.S. dollars in the quarter, compared with 134.4 billion dollars in the same period last…
- NAIROBI, Kenya, Aug 2 – The National Council for Population and Development (NCPD) has stressed the need for slum upgrading programs and improved living conditions in urban centers following the upsurge in rural-urban migration in the country. According to the NCPD State of Kenya Population Report…
- NAIROBI, Kenya, Aug 2 – APA Insurance and Hollard Insurance have merged operations after the two joined hands last month. While APA Insurance is a Kenyan underwriter, Hollard International is a Pan-African insurer. The two insurers say they will focus on product enhancement and diversification by…
- NAIROBI, Kenya, August 2 – Two Middle Eastern wealth funds have invested up to $1 billion in Indian energy company Adani Energy Solutions’ share sale after a one and a half-year share offering halt. According to reports, the two investment companies, which include Abu Dhabi Investment Authority and…
- BAGHDAD, Aug. 2 (Xinhua) — Iraq signed a memorandum of understanding with British oil giant BP Thursday to develop four oil and gas fields in Iraq’s northern province of Kirkuk. Iraqi Prime Minister Mohammed Shia’ al-Sudani oversaw the signing ceremony of the memorandum between the Iraqi Oil…
- ADDIS ABABA, Aug. 2 (Xinhua) — The Ethiopian House of Peoples’ Representatives (HoPR), the lower chamber of parliament, on Wednesday endorsed financial agreements involving 1.5 billion U.S. dollars with the World Bank’s International Development Association (IDA), a fund for the poorest countries.…
- NAIROBI, Kenya, Aug 2 – The National Council for Population and Development has stressed the need for the government to lay out measures that will protect youths against harm related to digital technologies. According to the NCPD State of the Population Report 2023, the execution of solid…
- NAIROBI, Kenya, Aug 1 – The Capital Markets Authority (CMA) has granted a license to Mi Vida Homes Limited, enabling the company to operate as a Real Estate Investment Trusts (REITs) Manager. CMA CEO Wickliffe Shamiah said that this will boost the provision of real estate management services for…
- AUG 1 – Interest rates have been cut for the first time in more than four years, but the Bank of England has warned that borrowing costs will not fall sharply in the coming months. In a closely-run decision, rates were lowered to 5% from 5.25% on Thursday, marking the first cut since the onset […]
- NAIROBI, Kenya Aug 1 – The Betting Control and Licensing Board (BCLB) has decried low budgetary allocations to support its activities following increased illegal gambling both online and land-based. Appearing before the National Assembly departmental committee on administration and interior…
- NAIROBI, Kenya, Aug 1 – Property developer Acorn Holdings Limited has entered into a deal with the Catholic University of Eastern Africa (CUEA) to provide accommodations to 1,350 students. This comprises 540 Qwetu beds as well as 810 Quejani beds at the Karen residences along Bogani Road. Qwetu is…
- NAIROBI, Kenya, July 31 – The assemblers of the Association of Special Economic Zones (ASEZ) say that the organization will unify SEZ developers, operators, enterprises, investors, and service providers in the country. It seeks to achieve this by promoting best practices and enhancing national and…
- AUG 1 – CrowdStrike is being sued by its shareholders after a faulty software update by the cybersecurity firm crashed more than eight million computers and caused chaos around the world. The lawsuit accuses the company of making “false and misleading” statements about its software testing. It also…
- By Amos Mzenge AUG 1 – Saving is sometimes treated as an afterthought. When a budget is drawn up, one lays out their fixed expenses, variable expenses, debt repayment and other miscellaneous expenses, whatever is left over is then saved. Arguably so, one has still saved. To successfully set…
- AUG 1 – The US central bank is moving closer to lowering borrowing costs for the first time in more than four years, as price increases ease and concerns about the job market rise. Federal Reserve chairman Jerome Powell said a cut to the bank’s key rate “could be on the table” at policymakers’ next…
- AUG 1 – Sales of Instagram and Facebook adverts soared this spring, delivering a surge in profits for parent company Meta. The company said revenue rose to more than $39bn (£30bn) in the three months to June, up 22% on the same period last year, as it charged more for adverts and the commercials…
- NAIROBI, Aug 1 (Xinhua) — Kenya on Wednesday launched the 481-million-shilling (about 3.73 million U.S. dollars) Kenya livestock marketing and resilient project (KLMP) that seeks to boost the livelihoods of livestock and poultry farmers. Bishar Fille Elmi, director of livestock at the Ministry of…
- TOKYO, Aug 1 (Xinhua) — Japan’s transport ministry has issued a corrective order to Toyota Motor Corporation, mandating improvements in its business practices following the discovery of improper vehicle testing procedures for seven additional models. Toyota Motor President Sato Koji on Wednesday…
- NAIROBI, Kenya, Aug 1 – Kenya’s monthly inflation dropped by 0.3 percent to 4.3 percent in July, helped by declining costs of food, electricity, housing, and fuel. Latest data from the Kenya National Bureau of Statistics shows that this dropped from 4.6 percent in June. Last month, tomatoes, wheat…
- NAIROBI, Kenya, July 31 – Acorn Investment Management Limited (AIML) has announced a Sh586 million profit for the half year ended June 30, 2024. This represents a 24 percent growth compared to a profit of Sh474 million during a similar period in 2023. The revenue came from the Acorn Student…
- SINGAPORE, July 31 (Xinhua) — Singapore’s total employment grew by 11,300 in the second quarter of this year, compared with the growth of 4,700 in the previous quarter, according to the Ministry of Manpower Wednesday. The growth was driven by new employment among non-Singaporean residents, while…
- JULY 31 – Dozens of staff at the Singapore office of TikTok’s parent company, ByteDance, have been hospitalised in an apparent food poisoning outbreak. Health and food safety officials in the city state are investigating the incident, which left 60 people with symptoms of gastroenteritis on Tuesday…
- NAIROBI, Kenya, July 31 – Drillers in Kenya may soon benefit from the removal of permit fees imposed by the Water Resources Authority if the Water Amendment Bill 2024 is approved by the National Assembly. Sponsored by Nyaribari Masaba Member of Parliament Daniel Manduku, the proposed legislation…
- NAIROBI, Kenya Jul 31 – Comedian Elsa Majimbo is among 4 Kenyans featured in the TikTok Visionary Voices Africa List 2024. The short-form video platform announced its inaugural Visionary Voices List for Africa, recognizing 15 exceptional individuals at the forefront of industry-shifting innovation…
- MOSCOW, July 31 (Xinhua) — The Russian government has decided to extend its ban on gasoline exports from August to October, local media reported Wednesday, citing Russian Deputy Energy Minister Pavel Sorokin. “In order to avoid any problems in these months, there will be no lifting of the (gasoline…
- NAIROBI, Kenya, July 31 – Aldai Member of Parliament Maryanne Kitany has proposed a law to regulate internet billing by Internet Service providers (ISPs) by providing metered billing of internet use based on consumption. The legislator highlighted the need for the government, through the Ministry…
- NAIROBI, Kenya, July 31 – A total of 1,427 candidates sat for the Certified Human Resource Professional (CHRP) administered by the Human Resource Management Professional Examinations Board. The exam, which took place in June 12-19, 2024, saw the number of those sitting rise from November’s figure…
- SEOUL, July 31 (Xinhua) — South Korea’s passenger car export hit a record high in the second quarter due to strong demand from North America, customs office data showed Wednesday. Passenger car shipment grew 6.8 percent from a year earlier to reach a new quarterly high of 17.8 billion U.S. dollars…
- BRUSSELS, July 31 (Xinhua) — The economic output in the Eurozone rose by 0.3 percent in the second quarter on a quarterly basis, the statistical office of the European Union (EU) said on Tuesday, indicating that the economy has continued its recovery at a moderate pace, but the prospects for…
- NAIROBI, Kenya, July 31 – President William Ruto has launched the country’s first shariah-compliant bond, the ‘Linzi Sukuk,’ on the Nairobi Securities Exchange’s (NSE’s) Unquoted Securities Platform (USP). The Islamic security, valued at Sh3 billion, is set to finance the development of 3,069…
- NAIROBI, Kenya, July 31 – President William Ruto has launched the country’s first shariah-compliant bond, the ‘Linzi Sukuk,’ on the Nairobi Securities Exchange’s (NSE’s) Unquoted Securities Platform (USP). The Islamic security, valued at Sh3 billion, is set to finance the development of 3,069…
- CANBERRA, July 31 (Xinhua) — Australian banks will be forced to compensate customers who lose money to scams under new laws flagged by the government. In a speech to the National Press Club in Canberra on Wednesday, Assistant Treasurer Stephen Jones said current laws do too little to help scam…
- SEOUL, July 31 (Xinhua) — South Korea’s tech giant Samsung Electronics saw its operating profit surge in the second quarter thanks to strong sales of semiconductors and display panels, the company said Wednesday. Samsung’s consolidated operating profit came to 10.44 trillion won (7.6 billion U.S.…
- NAIROBI, Kenya Jul 31 – Absa Bank has embarked on a brand expansion strategy targeting regional towns for new growth. Absa Bank Managing Director and Chief Executive Officer (CEO) Abdi Mohamed noted that the lender, which has been actively expanding, reaching 85 branches with the opening of its…
- TOKYO, July 30 (Xinhua) — Toyota Motor Corp. sold 5.16 million vehicles worldwide in the first half of 2024, retaining the top spot in global sales for the fifth consecutive year, data released by the Japanese automaker showed Tuesday. In the January-June period, the group’s global sales, including…
- HARBIN, July 29 (Xinhua) — The global wild tiger population has risen from approximately 3,200 in 2010 to around 5,500 in 2024, with countries such as China, Russia, India and Nepal doubling their wild tiger populations, according to the World Wildlife Fund (WWF). The data was announced at the…
- NAIROBI, July 30 – The county governments of Isiolo, Marsabit, and Samburu have announced a joint investment conference dubbed ‘Redefining Northern Kenya as an Investable Destination’. The event slated for August 5, 2024, aims to highlight investment opportunities and address constraints in these…
- NAIROBI, Kenya, July 30 – Centum Investment Company profit after tax for the full year ended March this year grew to Sh2.5 billion, an improvement from a net loss of Sh9 billion during a similar period in the preceding fiscal year. Centum Group CEO James Mworia attributed the growth to improved…
- NAIROBI, Kenya, July 30 – NCBA has announced that it will waive monthly account maintenance fees for its retail banking customers, effective July 1, 2024. The lender says the move is anchored on enhancing customer satisfaction and adapting to the evolving economic landscape. This change will apply…
