- NAIROBI, Kenya, Jul 11 – Lack of employment among young Africans has remained a hindrance to the continent’s development, with data from the World Africa Review showing the continent leads in global unemployment rates. It is on this backdrop that stakeholders drawn from the job market and education…
- NAIROBI, Kenya, July 11 – The National Gender and Equality Commission (NGEC) has stated that limited budgetary allocations have hindered its mandate of promoting and protecting the welfare of minority and marginalized groups. While revealing the status of integration of ethnic minorities and…
- NAIROBI, Kenya, July 11 – Cake franchise Cake City has opened a new cake store at Gallant Mall in Nairobi. This pushes its total outlets in the capital to 11. Its CEO, Mohamed Zahir, said the expansion is part of the company’s broader strategy to modernize its stores and provide a more spacious,…
- There’s an issue dividing K-pop fans right now – artificial intelligence. Several of the genre’s biggest stars have now used the technology to create music videos and write lyrics, including boy band Seventeen. Last year the South Korean group sold around 16 million albums, making them one of the…
- SEOUL, July 11 (Xinhua) — South Korea’s tax revenue fell for the first five months of this year due to higher corporate tax benefits, government data showed Thursday. Tax revenue stood at 151.0 trillion won (109.5 billion U.S. dollars) in the January-May period, down by 9.1 trillion won (6.6…
- NAIROBI, Kenya, July 11 – All ICT professionals in Kenya will have to be licensed to operate in the country if a new law passes. The ICT Authority Bill 2024 says that any person who intends to offer ICT services in Kenya should be accredited by the Authority. The applicant shall, the bill adds, “(a…
- NAIROBI, Kenya, July 11 – Amsons Industries, a Tanzanian cement manufacturing company, has launched a Sh23.2 billion ($180 million) bid offer to acquire the full ownership of the Bamburi Cement PLC. In a statement, the company stated that the deal would involve acquiring up to 100 percent of the…
- ADDIS ABABA, July 10 (Xinhua) — The National Bank of Ethiopia (NBE), the central bank, announced the adoption of an interest-rate-based monetary policy regime in line with international best practices to ensure price stability and foster economic growth in the country. The new regime comes as the…
- BERLIN, July 10 (Xinhua) — Germany registered 1,384 new startups in the first six months of 2024, marking a 15-percent increase compared to the second half of last year, the German Startup Association reported on Wednesday. Following a sharp decline in mid-2022, registrations for these companies…
- NAIROBI, Kenya, July 11 – 27 Female entrepreneurs in the Micro, Small, and Medium Enterprises (MSME) sectors have been honored at the Kayana Awards following their momentous contribution towards the elevation of communities and industries in the country. The award ceremony took place Wednesday…
- ACCRA, July 10 (Xinhua) — Ghana’s inflation rate dropped from 23.1 percent in May to 22.8 percent in June, the Ghana Statistical Service (GSS) said Wednesday. Samuel Kobina Annim, the government statistician at the GSS, attributed the marginal drop in the inflation rate to a decline in non-food…
- NAIROBI, July 10 (Xinhua) — Kenya on Tuesday unveiled a five-year strategic plan aimed at enhancing the country’s dairy exports. Jonathan Mueke, principal secretary in the Kenyan Ministry of Agriculture and Livestock Development, told journalists in Nairobi, the country’s capital, that the plan…
- ADDIS ABABA, July 10 (Xinhua) — Coffee exports brought Ethiopia 1.43 billion U.S. dollars in revenue during the just-concluded Ethiopian fiscal year, the government has said. Ethiopia exported 298,500 tons of coffee during the Ethiopian 2023/24 fiscal year that ended on July 7, the Ethiopian Coffee…
- NAIROBI, Kenya, July 10 – ICEA Lion Asset Manager’s (ILAM’s) Fahari Real Estate Investment Trust has been admitted to the Unquoted Securities Platform (USP) of the Nairobi Securities Exchange (NSE) following a comprehensive restructuring of the real estate investment trust (Reit). In February, ILAM…
- NAIROBI, Kenya, July 10 – Malaysian budget carrier AirAsia X will be expanding its first network in Africa with a directed flight between Nairobi and Kuala Lumpur, Malaysia. Starting November 15, 2024, the airline will be flying four times a week to Nairobi as well as vice versa. Benyamin Ismail,…
- LOS ANGELES, July 9 (Xinhua) — In the wake of President Joe Biden’s shaky performance during a recent presidential debate, a rift has emerged among Hollywood’s elite regarding his continued candidacy. While many of Biden’s celebrity backers continue their support, some previously fervent supporters…
- NAIROBI, Kenya, July 10 – Kenchic, a company that deals in poultry products, has unveiled Kenbeef, a new line of premium beef cuts. Jim Tozer, Managing Director of Kenchic, stated that Kenbeef’s premium cuts include ribeye and sirloin. Others are processed beef items such as sausages, burger…
- JULY 10 – Asian American online grocery stores and delivery services in the United States are growing and reshaping eating habits, as more rare food from the East becomes available in the West with the click of a mouse. The stores Weee!, Yamibuy and Fantuan, with many others, have seen tremendous…
- NAIROBI, Kenya, July 10 – The CPF Group Individual Pension Funds surged to Sh2.9 billion in the year ending 2023, highlighting growing appetite for the category. The group comprising the Local Authorities Pension Trust (LAPTRUST), the County Pension Fund, and the CPF Individual Pension Plan says…
- NAIROBI, Kenya, July 10 – CPF CEO Hosea Kili has faulted the proposal to scale down the retirement age, citing the risk of having the government spend more on retirees. Kili, who spoke during the CPF Annual General Meeting, asserted that the proposal will similarly chock the pension scheme as…
- NAIROBI, Kenya Jul 10 – The Transforming African MedTech Conference (TAMC) 2024 has announced plans to further catalyze advancement in MedTech across the continent. The second annual TAMC Scheduled to take place in Nairobi, Kenya, from August 28 to 30, 2024 will serve as a premier platform for…
- NAIROBI, July 9 (Xinhua) — Global rating agency Moody’s has cut Kenya’s sovereign credit ratings, citing “diminished capacity to maintain revenue-based fiscal consolidation that would improve debt affordability and place debt on a downward trend.” Moody’s said the downgrade places Kenya’s foreign-…
- SINGAPORE, July 10 (Xinhua) — Singapore will cease registering new diesel cars and taxis from 2025 to support its cleaner energy vision, the Land Transport Authority (LTA) said Wednesday. Meanwhile, diesel car owners can renew their certificate of entitlement but will be subject to higher road…
- NAIROBI, July 9 (Xinhua) — The Kenya Tourism Board (KTB), the state-run tourism marketing agency, said Tuesday it is leveraging on the public-private partnerships to spur the country’s adventure tourism opportunities. KTB Chief Executive Officer June Chepkemei said adventure tourism has…
- NAIROBI, Kenya, July 9 – KCB Bank has denied processing Hustler Fund loans to customers on boarded into the platform without National Identification Cards following a recent audit conducted by the Auditor General exposing irregularities linked to the Fund. In a letter addressed to the Financial…
- VILNIUS, July 9 (Xinhua) — Lithuania has bought RBS70 NG, a mobile short-range air defense system, from a Swedish company for 147 million euros (about 159 million U.S. dollars), Lithuania’s Ministry of National Defense said Monday. The ministry’s Defence Material Agency has signed final agreements…
- JULY 9 – A new study by the 38-member Organization for Economic Cooperation and Development, or OECD, has found Germany is leading the way in Europe at integrating arrivals from other countries. The nation, which has the world’s second-largest population of immigrants after the United States, has…
- JULY 9 – Thousands have protested against over-tourism in Barcelona, Spain’s most visited city, with more than 150 organizations and social movements taking to the streets. Protests against tourist overcrowding have previously taken place in the Canary Islands and Mallorca in recent months. On…
- JULY 9 – The Joint Commission International (JCI) has once again accredited the Aga Khan University Hospital as a center of excellence for treating and managing acute primary stroke. The hospital initially accomplished this milestone in 2021, making history as the first hospital in Africa to do so…
- NAIROBI, Kenya, July 9 – The Nairobi West Hospital (NWH) has successfully conducted the first renal artery denervation procedure for resistant hypertension in Kenya and East Africa. According to Patil VijaySinh, an interventional cardiologist at the NWH who led the team in performing the pioneering…
- JULY 9 – Global trade “is not having the best of times at the moment”. That is the admission of the director general of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala. “We are seeing increasing protectionism, some undermining of the WTO rules, and some of this is leading to…
- NAIROBI, Kenya, July 9 – The Kenya Youth Employment and Opportunities Project (KYEOP) has ended since it was started in 2016. KYEOP was a flagship initiative aimed at empowering young Kenyans with business development skills, business start-up grants and essential employability skills. It was a…
- JULY 9 – China’s biggest electric car maker BYD has agreed a $1bn (£780m) deal to set up a manufacturing plant in Turkey, as it continues to expand outside its home country. The new plant will be able to produce up to 150,000 vehicles a year, according to Turkish state news agency Anadolu. The…
- NAIROBI, Kenya, July 9 – The Nairobi High Court is set to hear a petition for the liquidation of Nomad Energy Limited in October this year, following a three-year delay. The petition was presented before the High Court of Kenya, Milimani Law Courts Nairobi, by Kopo Kopo Inc., c/o Rilani Advocates,…
- MADRID, July 9 (Xinhua) — A groundbreaking ceremony was held on Monday for a battery gigafactory of the Chinese group Envision AESC in the western Spanish town of Navalmoral de la Mata. Noting that the project is a “victory against relocation and against industrial decline,” Spanish Prime Minister…
- SAN FRANCISCO, July 8 (Xinhua) — The U.S. Federal Aviation Administration (FAA) said Monday it has required inspections of 2,600 Boeing 737 airplanes because passenger oxygen masks could fail during an emergency. The FAA said it required the inspections of 737 MAX and NG airplanes after multiple…
- NAIROBI, Kenya, July 9 – The Kenya Institute of Supplies Management (KISM) has embarked on a vigorous campaign to eliminate bogus stakeholders who are practicing in the space. KISM Chief Executive Officer Kenneth Matiba says the process will ensure quality service delivery to Kenyans. Matiba says…
- NAIROBI, Kenya, July 8 – 25 Kenyan students under the Huawei Seeds for Future programme completed a one-week immersion into digital technology skills during an ICT study tour in Shanghai, China last week. The programme, which coincided with MWC Shanghai 2024, admits students from various countries…
- NAIROBI, Kenya, July 8 – Most Kenyan businesses expect their performances to be affected by limited financial resources, unfavorable regulations, and supply chain instability. The Kenya National Chamber of Commerce and Industry (KNCCI) quarter-three (Q3) business barometer report replicates Q2…
- NAIROBI, Kenya, July 8 – Nippon Paint, the world’s fourth-largest paint company, has expanded into Kenya as it targets to grow market share. Through its Kenyan subsidiary, NIPSEA Paint Kenya, the company will introduce products for automotive refinishing, car care, wood coating, and industrial…
- JULY 8 – Carlsberg has agreed a £3.3bn deal to buy Britvic, the company which makes drinks such as Robinsons squash and J20. The Danish brewer said it would create a single beverage company called Carlsberg Britvic to grow its business in the UK and western Europe. Britvic chairman Ian Durant said…
- NAIROBI, Kenya, July 8 – The Competition Authority of Kenya (CAK) has slapped SIKA International with Sh17.5 million after merging with LSF11 Skyscraper Holdco S.a.r.l without the Authority’s knowledge. According to CAK, the transaction, which was of a global nature, involved Sika International AG…
- JULY 8 – Santosh Sikdar, 52, who does welding jobs for a small construction company in Kolkata, eastern India, finds the scorching weather “simply unbearable”, but says he cannot afford to skip work, even for one day. “This is a killing summer … a blast-furnace situation … hot, humid and sultry.…
- NEW YORK, July 8 (Xinhua) — The sales of fragrance is the fastest-growing in the prestige beauty sector in the United States, climbing 13 percent in the first quarter this year, according to market research firm Circana recently. Over 100 million units were sold in the U.S. last year, with annual…
- NAIROBI, Kenya, July 8 – The Ministry of Roads and Transport is seeking public views before increasing the fuel levy by Sh7 to Sh25 per liter. The exercise, which started today, was being done simultaneously in Nairobi, Central, North Rift, South Rift, Upper Eastern, Lower Eastern, Nyanza, North…
- JULY 8 – One of Hollywood’s oldest companies, Paramount Global, has agreed to merge with independent film studio Skydance Media. Under the deal, Paramount’s non-executive chair Shari Redstone will sell her family’s controlling stake in the company in a complex transaction that will result in a new…
- NAIROBI, Kenya, July 8 – Motor vehicle dealer CFAO Mobility Kenya plans to expand its business portfolio to include the sale of electric vehicles (EVs), whose adoption is growing. The firm’s managing director, Arvinder Reel, announced that the company will soon introduce its EVs. Demand for EVs in…
- JULY 8 – Boeing has agreed to plead guilty to a criminal fraud conspiracy charge after the US found the company violated a deal meant to reform it after two fatal crashes by its 737 Max planes that killed 346 passengers and crew. The Department of Justice (DoJ) said the plane-maker had also agreed…
- by Xinhua Writers Zheng Bofei, Larry Neild LONDON, July 8 (Xinhua) — The ascension of the Labour government injected rare impetus into Britain’s capital market, accompanied by many positive economic signs. On Friday, the first day of the newly-elected Labour government, the domestically-focused…
- NAIROBI, Kenya, July 8 – The Kenya Revenue Authority (KRA) has clarified that if an employer provides meals valued above Sh48,000 annually to an employee, the entire value of those meals no longer qualifies as a non-taxable benefit under Section 5(4)(f) of the ITA. This was according to a circular…
