- TOKYO, June 21 (Xinhua) — Japan’s core consumer prices rose 2.5 percent in May from a year earlier, with the pace of increase accelerating from 2.2 percent in April, the government said in a report on Friday. According to the Ministry of Internal Affairs and Communications, the increase in the…
- JUNE 21 – Nvidia has handed back the position as the world’s most valuable company to Microsoft after its share price fell by more than 3.5% on Thursday. The artificial intelligence (AI) chip giant briefly held the top spot from Tuesday, with a stock market valuation of $3.34tn (£2.64tn). But…
- NAIROBI, Kenya, June 21 – President William Ruto hosted US Congress members at State House, Nairobi, to advocate for the extension of the African Growth and Opportunity Act (AGOA), which is set to expire in February 2025. In a statement, the Head of State emphasized the significant benefits AGOA…
- SEOUL, June 21 (Xinhua) — South Korea’s overseas direct investment fell in double digits in the first quarter due to lingering worry about geopolitical risks, government data showed Friday. Overseas investment through the purchase of foreign stocks and the establishment of foreign offices stood at…
- JUNE 21 – The US has announced plans to ban the sale of antivirus software made by Russian firm Kaspersky due to its alleged links to the Kremlin. Moscow’s influence over the company was found to pose a significant risk to US infrastructure and services, Commerce Secretary Gina Raimondo said on…
- NAIROBI, Kenya, June 20 – The Energy and Petroleum Regulatory Authority (EPRA) has proposed formation of joint national-county government teams to implement the zoning of Liquefied petroleum gas (LPG) and Petroleum facilities. EPRA Director General Daniel Kiptoo affirmed that the joint teams will…
- NAIROBI, Kenya June 20 – The controversial Finance Bill 2024 passed the second reading in the National Assembly Thursday amid street protests in Nairobi and other major towns. The Bill sailed through with 204 votes in favour and 115 against in what has angered Kenyans across the country, mainly the…
- JUNE 20 – Booking.com is warning artificial intelligence (AI) is driving an explosion in travel scams. The firm’s internet safety boss, Marnie Wilking, said there had been “anywhere from a 500 to a 900% increase” in the past 18 months. She said there had been a particularly marked increase in…
- EMALI, Makueni, June 20 – It was around 1996 in Sweden when Mutuku Wa Muindi’s passion for Akamba culture and artifacts flourished. Being a student in the country at the time, he got an opportunity to visit an artifact exhibition in Stockholm to see some of the wares collected by a famous…
- NAIROBI, Kenya, June 20 – Credit disbursed by Tala, a digital credit company, in Kenya has reached Sh300 billion, ten years after entering the country. In the 2023 Tala Impact Report, which was released today, the fintech disburses about Sh10 billion and Sh15 billion in the country each month,…
- NAIROBI, Kenya, June 20 – 200 C-suite leaders from Kenya and around the globe will be attending the first edition of the ‘Future of Power’ with responsible leadership and soft power skills at the centre of discussion. The 73rd meeting will be the first to be held in Africa. Previously, the event…
- NAIROBI, Kenya, June 20 – 200 C-suite leaders from Kenya and around the globe will be attending the first edition of the ‘Future of Power’ with responsible leadership and soft power skills at the centre of discussion. The 73rd meeting will be the first to be held in Africa. Previously, the event…
- NAIROBI, Kenya, June 20 – Airtel Kenya targets 53 new network sites by the end of the year in Mandera County, growing its presence in the North-Eastern Kenya. So far, the telco has established nine sites in the devolved unit. In total, it plans to put up 103 new sites in the counties of Garissa, […]
- NAIROBI, Kenya, June 20 – Capwell Industries Limited, a Thika-based diversified food & beverage manufacturer, has announced the addition of essential vitamins and minerals to its existing Pearl Rice brands. This enhancement, also known as fortification, aims to reduce vitamin and mineral…
- JUNE 20 – A bold and new generation of young Kenyan protesters has emerged on the streets forcing the government to back down on some of a slew of unpopular tax proposals. What started as anger on TikTok about a controversial finance bill has morphed into a revolt – without being organised by…
- NAIROBI, Kenya, June 20 – Treasury has written to the National Assembly Clerk on proposed budget rationalization if revenue-raising measures in the 2024 Finance Bill are not approved. National Treasury Cabinet Secretary Njuguna Ndung’u warned that the government is at risk of losing Sh200 billion…
- JUNE 20 – Chinese car companies have called on Beijing to hit European Union rivals with import taxes of up to 25% if the trading bloc imposes tariffs on vehicles from China, the country’s state media has reported. The demand was reportedly made at a closed-door meeting organised by China’s…
- NAIROBI, Kenya, June 20 – South African fund manager Vantage Capital has announced Sh6.2 billion ($47.5 million) to support the development of the Two Rivers International Finance and Innovation Centre (TRIFIC SEZ). Centum Investment Company will use the fund to acquire and renovate an office tower…
- RABAT, June 20 (Xinhua) — Morocco’s airports recorded a commercial traffic volume of 12,353,496 passengers in the first five months of 2024, witnessing a 19-percent increase year-on-year, the Moroccan Airports Authority (ONDA) said on Wednesday. According to the ONDA, international traffic grew by…
- JUNE 20 – The families of victims in two Boeing 737 Max plane crashes have asked for prosecutions and a fine of $24.8bn for “the deadliest corporate crime in US history”. The families’ lawyer Paul Cassell said the amount was “justified and clearly appropriate” given “enormous human costs of Boeing’…
- NAIROBI, June 19 (Xinhua) — The United Nations World Food Program (WFP) announced on Wednesday that it has secured a contribution of 37 million U.S. dollars to provide critical food and nutrition assistance to refugees in Kenya, which will enable the agency to increase rations for vulnerable…
- NAIROBI, Kenya, June 19 – The COMESA Competition Commission has warned its members states against the sale and use of unsafe shampoo reported to have penetrated the South Africa market. This is after the National Consumer Commission (NCC) in South Africa recalled the 50ML single-use neutralizing…
- NAIROBI, Kenya, June 19 – Kenya Airways (KQ) has resumed flights to Maputo in Mozambique as the airline expands its intra-Africa connectivity. KQ will, starting today, conduct three flights weekly on Wednesday, Friday, and Sunday. The national carrier says that the new route will offer travelers…
- WELLINGTON, June 19 (Xinhua) — The latest report estimates the total cost of harms from alcohol is about 9.1 billion NZ dollars (5.6 billion U.S. dollars) in New Zealand. “The harms from alcohol are felt by more than the drinker,” non-governmental organization Alcohol Healthwatch Executive Director…
- NAIROBI, Kenya, June 19 – Residents of Nairobi, Kiambu, and Muranga have welcomed the licensing of Athi Water Works Development Agency (AWWDA) as bulk water operator for the Northern Collector Tunnel (NCT). This was agreed upon during a consultation held at a Nairobi hotel. As per the Water Act of…
- JUNE 19 – Chip-maker Nvidia became the world’s most valuable company after its share price climbed to an all-time high on Tuesday. It is now worth $3.34tn (£2.63tn), with the price having nearly doubled since the start of this year. The stock ended the trading day at nearly $136, up 3.5%, making it…
- JUNE 19 – The US Federal Trade Commission (FTC) has referred a complaint against TikTok and its Chinese parent company ByteDance over potential violations of children’s privacy to the Department of Justice (DOJ). The FTC says its own investigation “uncovered reason to believe” that the firms “are…
- JUNE 19 – Nvidia became the world’s most valuable company after its share price climbed to an all-time high on Tuesday. The stock ended the trading day at nearly $136, up 3.5%, making it more valuable than Microsoft. It overtook Apple earlier this month. American company Nvidia makes computer chips…
- NAIROBI, Kenya, June 19 – American asset manager BlackRock has announced the liquidation of its emerging market (EM) funds in Kenya and Nigeria. The decision follows ongoing liquidity challenges in several frontier markets, which have been exacerbated by delays in the repatriation of funds in…
- By Jeff Mote JUNE 19 – It’s June 18th 2024, the Finance Bill 2024 conversation is reverberating across the country, on the stage is the National Assembly and the important role it plays in our democratic system. The National Assembly, is much more than just a legislative conveyor belt it is a…
- SINGAPORE, June 19 (Xinhua) — Singapore’s overall waste recycling rate declined from 62 percent in 2013 to 52 percent in 2023 as people produced less waste, according to data released by the National Environment Agency (NEA) Wednesday. Singapore generated 6.86 million tons of solid waste last year…
- NAIROBI, Kenya, June 19 – The government is set to incur a revenue shortfall of Sh5 billion after the removal of the Eco Levy in the proposed Finance Bill 2024. According to Kuria Kimani, chairperson of the National Assembly Finance and Planning Committee, the Kenya Kwanza government was targeting…
- ROME, June 18 (Xinhua) — The World Food Forum (WFF) on Tuesday announced a week of activities in restaurants worldwide, as part of the United Nations’ “Sustainable Gastronomy Day”, aimed at encouraging youth to reduce food waste. Named “Sustainable Gastronomy Restaurant Week” (SGRW), the one-week…
- JUNE 18 – McDonald’s is removing artificial intelligence (AI) powered ordering technology from its drive-through restaurants in the US, after customers shared its comical mishaps online. A trial of the system, which was developed by IBM and uses voice recognition software to process orders, was…
- MACHAKOS, Kenya, June 18 (Xinhua) — A Chinese roofing company opened a new factory in Kenya on Tuesday to provide the market with affordable, eco-friendly and durable roofing materials. “Kenya and China share a deep bond of friendship. We are committed to providing affordable, quality materials…
- JUNE 19 – Communication around the world has been a tale of change, a change that has never stopped unfolding. Since the days of using messengers, drums, and smoke signals, then came landlines, and now mobile phones, the world of communication continues to amaze each passing day. The first…
- JUNE 18 – Investment levels in the UK remain among the worst of the world’s richest nations and unless they improve it is hard to see how the economy will grow, a think tank has said. The Institute for Public Policy Research (IPPR) said total investment in the UK is “significantly” behind the…
- NAIROBI, Kenya, June 18 – Farmers and small business owners with a turnover below Sh1 million will now be exempt from electronic Tax Invoice Management System (eTIMS) registration. According to Finance Committee Chair Kuria Kimani, the change was arrived at after considering public opinions on the…
- NAIROBI, Kenya, June 18 – The government is proposing the removal of a 25 percent excise duty on vegetable oil under the Finance Bill 2024. The Kenya Association of Manufacturers (KAM), together with the Association of Edible Oil Manufacturers, opposed the recommendation in its recent submission to…
- NAIROBI, Kenya, June 18 – Francis Mungai, who was last month appointed Family Bank Chairman, has passed on while receiving treatment in the United States. Mungai took over from long-serving chair Wilfred Kiboro who served in the post for over 12 years. “Family Bank Board of Directors and Management…
- NAIROBI, Kenya, June 18 – Networking in Heels has launched a podcast series aimed at empowering women, particularly in entrepreneurship. The podcast coming on the back of International Women’s Day also seeks to bolster women’s support networks. The “Career Cruise” podcast aspires to extend these…
- NAIROBI, Kenya, June 18 – The government has removed the 2.5 percent proposed levy on motor vehicles in the proposed Finance Bill 2024. Finance and Planning Committee chairperson Kimani Kuria stated in an address to the press that the earlier proposal to introduce the wealth levy would make the…
- NAIROBI, Kenya, June 18 – The government has dropped the proposed 16 percent levy on bread following the Kenya Kwanza Parliamentary Group meeting chaired by President William Ruto in State House Nairobi. Finance and Planning Committee chairperson Kimani Kuria, in an address to the press, said the…
- JUNE 18 – The US government has sued software giant Adobe, accusing it of violating consumer protection laws with “hidden” termination fees and a convoluted cancellation process. The Federal Trade Commission (FTC) said the firm had failed to clearly disclose its terms to customers, including the…
- NAIROBI, Kenya, June 18 – IHS Kenya, a Southern African private equity fund manager, has unveiled an affordable green housing development in Limuru, Kiambu County. Located within the Tilisi Masterplan Development, the development comprises 240 green units of two- and three-bedroom apartments. Sited…
- JUNE 18 – Apple is ending its in-house buy now, pay later scheme in the US, which it launched just last year. The technology giant says it will now offer customers payment plans through third-party credit and debit card lenders. Existing borrowers will be able to continue managing payments using…
- NEW YORK, June 17 (Xinhua) — U.S. stocks ended higher on Monday, as investors remain optimistic ahead of comments from several Federal Reserve officials this week. The Dow Jones Industrial Average rose 188.94 points, or 0.49 percent, to 38,778.1. The S&P 500 added 41.63 points, or 0.77 percent…
- WASHINGTON, June 17 (Xinhua) — The International Monetary Fund (IMF) on Monday urged fiscal policymakers to build stronger social safety nets, increase investment in education and reform tax systems to support human workers and mitigate inequality in AI transition. “New generative-AI technologies…
- NAIROBI, June 17 (Xinhua) — Delegates from the East African Community (EAC) began a week-long meeting on Monday in Nairobi, the capital of Kenya, to develop a comprehensive roadmap for Somalia’s integration into the East African bloc. EAC Secretary General Veronica Mueni Nduva, who officially…
- By Kevin Nyaga NAIROBI, Kenya, June 17 – The global business landscape is increasingly fraught with challenges. Rising operational costs, increased taxation, surging inflation, high interest rates, and diminished consumer purchasing power are placing substantial strain on the demand for goods and…
