Capital Business

  • - JULY 19 – Major US airlines have grounded flights across the country, citing communication issues. The grounding appears to be related to a global IT outage, which has affected banks, emergency services and airports around the world. American Airlines, which is the world’s biggest by passenger…
  • - NAIROBI, Kenya, July 19 – The government has written a letter to the Ford Foundation seeking beneficiaries’ details of the about Sh800 million disbursed to Kenyan organizations amid links to demos. In a letter, Foreign Affairs Principal Secretary Korir Sing’Oei is requesting expenditures from 16…
  • - NAIROBI, Kenya, July 19 – The State Department of Medical Services is requesting at least a Sh100 million allocation by the National Assembly for sensitization and public participation on the Social Health Insurance Act (SHIA), which was declared unconstitutional by the court. The High Court…
  • - July 19 – A raft of global institutions – including major banks, media outlets and airlines – have reported being hit by a mass IT outage. The US state of Alaska has warned its emergency services are affected, while there are also reports of the London Stock Exchange being impacted. Australia has…
  • - ABUJA, July 19 (Xinhua) — The Nigerian government and the leadership of the country’s organized labor on Thursday agreed on a new minimum wage for local workers, ending months of bickering over the welfare of employees in the most populous African country. The government and representatives of the…
  • - NAIROBI, Kenya, July 19 – Motor dealer CFAO Mobility Kenya yesterday introduced a Sh17.5 million new generation Landcruiser Prado. The high-end car comes with new features, including a high wheelbase of 2,850mm that offers improved ground clearance. It also boasts a 2.8-liter inline four-cylinder…
  • - NAIROBI, Kenya, July 19 – Postal Corporation of Kenya (PCK) has increased charges on Mpost, a virtual address, by between Sh1,600 and Sh9,050 starting July 5, 2024. Corporate clients who used to pay a yearly fee of Sh400 will now be paying Sh9,450 under the new changes. Individuals have also not…
  • - NAIROBI, Kenya, July 19 – The Kenyan shilling has slipped against various global currencies, coming on the back of ongoing youth-led demonstrations and the country’s downgraded rating by global rating agency Moody’s. As of yesterday, forex bureaus were buying one US dollar for about Sh131, up from…
  • - HANOI, July 18 (Xinhua) — Vietnam’s Saigon Jewelry Company (SJC) gold bar price increased by over 3 million Vietnamese dong (118 U.S. dollars) to 80 million dong (3,160 dollars) per tael on Thursday morning after staying flat for more than one month, local media reported. SJC listed gold prices at…
  • - SYDNEY, July 19 (Xinhua) — The Australian state government of Victoria announced on Friday that share-hire e-scooters would be allowed to operate statewide from October. The decision followed a successful two-year trial in regional areas and metropolitan Melbourne. From October, e-scooters will…
  • - RIYADH, July 18 (Xinhua) — Saudi Arabian Oil Company, commonly known as Saudi Aramco, announced Thursday the completion of a bond issuance of 6 billion U.S. dollars. The company said in a statement that the issuance consists of three tranches of USD-denominated senior unsecured notes under Aramco’s…
  • - NAIROBI, Kenya, July 18 – EABL CEO Jane Karuku has been picked as the new chairperson of the Kenya Association of Manufacturers (KAM). Karuku, who has been serving as vice chairperson of KAM since 2022, takes over from Rajan Shah, whose term has ended. “As I take up the mantle, I am looking forward…
  • - LONDON, July 18 (Xinhua) — The number of adults in England who report vaping for more than six months has “increased substantially” from 2013 to 2023, a new study led by researchers from University College London (UCL) showed. The recently published study surveyed more than 179,000 adults and found…
  • - KAMPALA, July 18 (Xinhua) — Uganda’s coffee exports have recorded the highest foreign exchange earnings in 30 years due to improved quantity and quality, a state regulator said Thursday. The country earned 1.14 billion U.S. dollars from coffee exports in fiscal year 2023/2024, up from 846 million…
  • - NAIROBI, Kenya, July 18 – The State Department of Medical Services has requested Parliament to allocate it Sh6 billion for low-income households’ health insurance. Appearing before the National Assembly Departmental Committee on Health, Medical Services Principal Secretary Harry Kimtai said that…
  • - TOKYO, July 18 (Xinhua) — Japan’s trade deficit in the first half of the year fell 53.7 percent to 3.23 trillion yen (about 21 billion U.S. dollars), as exports grew amid rising costs and yen’s sharp depreciation, the government said in a report on Thursday. According to the finance ministry, in…
  • - NAIROBI, Kenya, July 18 – State employees whose salaries fall under the ‘annual salary adjustments’ category will still continue to enjoy yearly pay hikes even after the Salaries and Remuneration Commission (SRC) froze pay rise for all other public officers. However, SRC argued that subsequent…
  • - NAIROBI, Kenya, July 18 – Dubai-based value-added distributor Tech First Gulf has entered into a deal with global cybersecurity solution provider Kaspersky for distribution of cybersecurity and anti-virus solutions in Africa. The collaboration, which was formalized in May 2024, will see Tech First…
  • - CANBERRA, July 18 (Xinhua) — Australia’s unemployment rate rose slightly to 4.1 percent in June from 4.0 percent in May, official labor force figures published Thursday by the Australian Bureau of Statistics (ABS) showed. The total number of employed Australians rose by 50,200 between May and June…
  • - NAIROBI, Kenya, July 18- The country’s stock of foreign liabilities skyrocketed by Sh313.6 billion between the years 2020 and 2022 due to the increase in foreign direct investment (FDI). According to a Foreign Investment Survey conducted by the Central Bank of Kenya (CBK), the Kenya National Bureau…
  • - JULY 18 – Stanbic Bank Kenya launched the “Switch Campaign,” an initiative aimed at mobilising deposits and rewarding new and existing customers. During the campaign period, the Bank will award new and existing clients with cash rewards amounting to KES 7.2 million. The ‘Switch Campaign’ positions…
  • - NAIROBI, Kenya, July 18 – Cane farmers in the Nyando sugar belt have opposed the push to have sugarcane weighbridges, which had been closed by the Agriculture and Food Authority (AFA), reopened. A section of farmers have called on AFA to allow the weighbridges to operate. However, farmers within…
  • - KAMPALA, July 17 (Xinhua) — Uganda Airlines, the national carrier, announced here Wednesday that it will launch three new routes to the capitals of Zambia, Zimbabwe and Nigeria in September 2024. At the launching ceremony Wednesday in Kampala, the capital city of Uganda, Jenifer Bamuturaki, chief…
  • - JULY 18 – UK inflation held steady in June, remaining at the Bank of England’s target rate of 2%, according to the latest official figures. Discounts on clothes in summer sales helped offset the soaring cost of hotel stays. Overall, inflation rose at 2% in the year to June, unchanged from May. It…
  • - JULY 17 – Self-exiled Chinese businessman Guo Wengui has been convicted by a US court of defrauding his online followers in a billion-dollar scam. He was found guilty on nine of the 12 criminal counts he faced, including racketeering, fraud and money laundering. Guo’s sentencing has been scheduled…
  • - JULY 17 – The GMB has narrowly lost its historic bid for union recognition at the Amazon warehouse in Coventry. Some 49.5% of workers balloted voted in favour, while 50.5% voted against. The union needed a majority to vote in favour. If the GMB had won it would have been the first time Amazon…
  • - NAIROBI, Kenya, July 17 – The recruitment fate of 20,000 teachers and the conversion of 46,000 intern teachers to permanent and pensionable terms slated for October 2024 and January next year, respectively, are in jeopardy. The Teachers Service Commission (TSC) has revealed that recent budget…
  • - BANGKOK — Six foreign nationals were found dead at a hotel in downtown Bangkok on Tuesday, police said, dismissing earlier reports that they were killed following a shooting. Metropolitan Police Bureau commissioner Thiti Saengsawang said the deceased bodies of three men and three women were found…
  • - NAIROBI, Kenya, July 15 – The Kenya Ports Authority (KPA) expects container handling at the Port of Mombasa to grow by 200,000 this year to 1.8 million. KPA Managing Director William Ruto said that in 2024, the growth will be the highest in the past three years. In 2023, the port handled 1.6…
  • - WASHINGTON, July 17 (Xinhua) — The International Monetary Fund (IMF) on Tuesday revised China’s 2024 economic growth up to 5 percent in an update to its World Economic Outlook (WEO), from the 4.6-percent forecast in April. The revision is primarily attributed to a rebound in private consumption and…
  • - JULY 17 – Arrests for illegally crossing the US-Mexico border dropped by 29 percent in June over the previous month, the lowest count of Joe Biden’s presidency, according to figures announced Tuesday by the US Customs and Border Protection (CBP). The agency credited the decrease to the presidential…
  • - NAIROBI, Kenya, July 17 – Historically, it has been said that human, cattle, and wild animal integration can never be a peaceful effort and has been regarded as an extremely risky endeavor. However, the emergence of sophisticated technologies such as artificial intelligence (AI) and automation is…
  • - NAIROBI, July 16 (Xinhua) — Kenya is keen to partner with China to expand its industrial parks, a government official said on Tuesday. “We see China as a partner that can help us revitalize the country’s manufacturing sector through building more industrial parks,” said Juma Mukhwana, principal…
  • - JULY 17 – Billionaire Elon Musk has said he will move the headquarters of two of his most high-profile companies, rocket firm SpaceX and social media platform X, out of California to Texas. He cited his opposition to a new Californian state law which bans schools from requiring staff to disclose…
  • - WELLINGTON, July 16 (Xinhua) — The Reserve Bank of New Zealand (RBNZ) has been soliciting public opinion of having an electronic version of cash in the country, issued by the Reserve Bank. Digital cash provides people with an alternative, instant, safe, low-cost way of paying for everyday needs…
  • - NAIROBI, Kenya, July 16 – Kenya Electricity Generating Company (KenGen) has announced plans to install a 42.5 megawatt (MW) solar power plant along the Seven Forks dams, where the company generates most of its hydroelectricity. The project, which will be implemented in partnership with the French…
  • - JULY 16 – Disney has confirmed it is investigating an apparent leak of internal messages by a hacking group, which claims it is “protecting artists’ rights”. The group, Nullbulge, said it had gained access to thousands of communications from Disney employees and had downloaded “every file possible…
  • - NAIROBI, Kenya, July 16 – The Kenya Railways Corporation (KRC) has revealed plans to launch SGR Premium Class Coaches, which will offer customers a luxurious rail travel experience and the highest level of comfort. The corporation disclosed that it has already received a shipment of four premium…
  • - COLOMBO, July 16 (Xinhua) — Sri Lanka’s cabinet has approved a proposal for the implementation of the national policy on indigenous medicine for the period between 2024 and 2034, the government information department said on Tuesday. The department said the proposal was submitted by President Ranil…
  • - NAIROBI, Kenya, July 16 – The Motorists Association of Kenya (MAK) has opposed the government’s move to hike the road maintenance and fuel levy from Sh18 to Sh25 per litre terming it illegal. This follows a recent announcement made by the Energy and Petroleum Regulatory Authority (EPRA), which…
  • - JULY 16 – Shares in Donald Trump’s social media company have surged after he survived an assassination attempt on Saturday. Shares in Trump Media, which runs the Truth Social platform, closed up about 31%. The price had risen as much as 70% in pre-market trading over the weekend before falling back…
  • - JULY 16 – Russian antivirus giant Kaspersky Labs has told BBC News that it is leaving the US after the Biden administration banned sales and distribution of the firm’s software. Kaspersky said it had made the “sad and difficult decision” to leave “as business opportunities in the country are no…
  • - NAIROBI, Kenya, July 16 – The High Court is set to deliberate on an application seeking the appointment of an administrator over the property and affairs of Mediheal Group Limited. The application presented by Trimurti Health Care Limited seeks the approval of stakeholders in adopting the proposed…
  • - JERUSALEM, July 15 (Xinhua) — Israeli researchers have created advanced sensors that imitate the complex abilities of natural nervous systems, Ben Gurion University (BGU) announced on Monday. These sensors have wide potential applications in fields that need precise and versatile sensing, such as…
  • - NAIROBI, Kenya, July 16 – A total of 3.2 million customers are yet to update their prepaid meters, Kenya Power has announced. Already, 4.2 million users have updated their meters out of the targeted 7.4 million meters. The utility firm is calling on the remaining prepaid customers to update their…
  • - BRASILIA, July 15 (Xinhua) — Brazil’s financial market reduced its inflation forecast for 2024 from 4.02 to 4 percent and raised the forecast for 2025 from 3.88 to 3.90 percent, the central bank said Monday. The bank’s weekly “Focus” survey of the country’s leading financial institutions showed…
  • - NAIROBI, Kenya, July 15 – The High Court has suspended the swearing-in ceremony of John Chebochok as the newly appointed director of Toror Tea Factory pending hearing and determination of the petition filed against him. The Kericho-based court therefore directed all the petitioners as well as the…
  • - HANOI, July 15 (Xinhua) — Over 1.2 million motorbikes were sold in Vietnam by five members of the Vietnam Association of Motorcycle Manufacturers in the first half of 2024, down 1.4 percent year on year, VnExpress reported Monday. Their sales had declined by 4.9 percent year on year to 603,745…
  • - NAIROBI, Kenya July 15 – A section of Public Service Vehicle (PSV) drivers in the ride-hailing taxi service industry on Monday faced severe consequences for defying calls to join an industrial action. Their striking colleagues damaged and destroyed their vehicles. Drivers from services like Uber,…
  • - JULY 15 – China’s economy stumbled in the second quarter, official data shows, just as the country’s top leaders gathered for a key meeting to address its sluggish growth. It grew 4.7% in the three months to June, falling short of expectations after a stronger start in the first three months of…