- SEOUL, June 5 (Xinhua) — South Korea’s imported car sale rose for the third successive month due to solid demand for foreign luxury vehicles, industry data showed Wednesday. The number of imported vehicles sold here came in at 24,209 in May, up 13.4 percent from a year earlier, according to the…
- ADDIS ABABA, June 5 (Xinhua) — UN officials have called for breaking the excessive dependence of African countries on the export of their raw mineral resources. The call was made Tuesday in Addis Ababa, the capital of Ethiopia, at the United Nations Conference on Trade and Development (UNCTAD) 60th…
- NAIROBI, June 5 (Xinhua) — Kenya’s economic growth is projected to slow to 5 percent in 2024 from 5.6 percent in 2023, the World Bank said in a new report released Wednesday. According to the 29th edition of the Kenya Economic Update, ongoing fiscal consolidation efforts, tight monetary policy, and…
- By Elisha Kamau JUNE 5 – As the world marks the Word Environment Day today, it is important to note that in recent months, Kenya has faced two extreme climate events – devastating droughts and deadly floods – severely impacting its citizens. At the beginning of the year, Kenyans were praying for…
- CANBERRA, June 5 (Xinhua) — Australia’s economy grew by 0.1 percent in the first three months of 2024, official figures have revealed. According to national accounts data published by the Australian Bureau of Statistics (ABS) on Wednesday, Australia’s gross domestic product (GDP) increased by 0.1…
- NAIROBI, Kenya Jun 5 – Stakeholders in the energy sector have been urged to embrace research and innovation to develop energy solutions that are affordable, accessible and reliable for consumers. Speaking during the 2024 Research and Innovation Conference Daniel Kiptoo, Director General Energy and…
- NAIROBI, Kenya, June 5 – In response to the recent floods in parts of the country, local and international organisations have launched a food bank initiative to provide relief to families affected by the disaster. The initiative by BrandActiv Kenya, BigCold Kenya and FoodBanking Kenya will…
- JUNE 5 – The government has begun a rigorous process of seeking proposals from concerned parties to manage and run the ambitious county aggregation industrial parks (CAIPS). Speaking during a consultative forum that brought together top government officials, Trade Investments Cabinet Secretary…
- NAIROBI, Kenya, June 5 – Outsourcing and technology services specialist VFS Global has bolstered its sustainability agenda to achieve its 35 percent increase in the number of visa applications processed globally. This is according to its Integrated Sustainability Report 2023, which highlighted…
- NAIROBI, Kenya, June 5 – Outsourcing and technology services specialist VFS Global has bolstered its sustainability agenda to achieve its 35 percent increase in the number of visa applications processed globally. This is according to its Integrated Sustainability Report 2023, which highlighted…
- NAIROBI, Kenya, Jun 5 – Maasai Mara National Reserve has banned the use of private vehicles for games drives inside the park. This follows a directive by the Narok county government in efforts to control the flow of tourists into the world-famous park ahead of the wildebeest migration set to kick…
- NAIROBI, Kenya, Jun 5 – Kuza Asset Management, an asset management firm based in Nairobi- has now hit Sh. 1 Billion in assets under management threshold. The firm’s assets under management grew by 70 percent hitting one Billion from Sh600 Million since November 2023 when the management was launched…
- NAIROBI, Kenya, Jun 5 – The milling industry in the county has unveiled its umbrella industry led coalition dubbed Millers for Nutrition. The body that brings on board an array of milling companies aims to enhance food safety of products rolled out from milling companies in the face of malnutrition…
- DHAKA, June 4 (Xinhua) — Bangladesh’s leading mobile money carrier Nagad has become the South Asian country’s first full-fledged digital bank, said the Mobile Financial Services (MFS) operator’s spokesman on Tuesday. Muhammad Zahidul Islam Sajal, head of Media and Communications at Nagad, told…
- NAIROBI, June 4 (Xinhua) — The 11th edition of the International Floriculture Trade Expo opened Tuesday in the Kenyan capital of Nairobi amid calls for sustainable production such as integrated pest management. The three-day event brought together senior government officials, flower growers and…
- JUNE 4 – In an effort to support and elevate creative professionals, Startinev, a startup facilitator and innovation enabler in Africa, is organizing a groundbreaking networking event focused on monetizing creative skills in the digital economy. The event, named Startup Bar, will bring together…
- NAIROBI, Kenya, June 4 – 100 Kenyan students will be trained on cybersecurity security skills in a deal between the Microsoft Africa Development Centre (ADC) and Cyber Shujaa. The three-month programme will admit the first cohort of 70 undergraduate students and 30 graduate students with less than…
- NAIROBI, Kenya Jun 4 – The Alcoholic Beverages Association of Kenya (ABAK) has warned that the sector will be hit hard by double taxation if the government will implement the proposed Finance Bill 2024. The Association stated that some provisions in this year’s revenue-raising law including the…
- NAIROBI, Kenya, June 4 – NCBA Bank has partnered with British automobile distributor Inchcape Kenya for an asset financing campaign slated to run till March 2025. Under the MEMORANDUM OF Understanding (MoU), the lender will provide financing options for both new and pre-owned, BMW, Jaguar, and Land…
- NAIROBI, Kenya, June 4 – The ICT Authority has enrolled 2,401 innovators in its Huduma Whitebox program, which focuses on incubation, capacity building, market linkages, and commercialization. The Authority aims to catalyze the growth of local ventures to global standards through the program. Its…
- NAIROBI, Kenya, June 4 – Standard Chartered has unveiled its SC Juza Mobile Loan App targeting the short-term lending market in Kenya. The lender sys the move is anchored on providing affordable financial solutions for both salaried and non-salaried individuals in a bid to bridge the gap of…
- NAIROBI, Kenya, June 4 – Policyholders Compensation Fund (PCF) has begun payments and compensation of policy holders of Xplico insurance. In a public notice, PCF directed all the affected parties to fill the online claims form on its website beginning June 4. ”Notice is hereby given that the…
- NAIROBI, Kenya, June 4 – Xiaomi Kenya is thrilled to announce the launch of the “Xiaomi Deals Carnival,” a month-long promotion featuring unbeatable deals and discounts on a wide range of Xiaomi smartphones. From June 4th to June 30th, customers can enjoy amazing offers on some of Xiaomi’s most…
- JUNE 3 – Meme stock favourite GameStop is rising again, after a social media post seemingly from the investor known as “Roaring Kitty” claimed a sizeable stake in the video game retailer. Shares in the firm opened for trade on Monday priced above $40 apiece, up more than 70% from Friday, before…
- NAIROBI, Kenya, June 3 – Mombasa will host the sixth round of the Kenya-United States Strategic Trade and Investment Partnership (STIP) negotiations. The discussion will be centered on workers’ rights, customs procedures, good regulatory practices, and agriculture. The weeklong negotiation is led…
- ANKARA, June 3 (Xinhua) — Türkiye’s annual inflation rate rose to 75.45 percent in May, the highest since November 2022, reaching the peak expected by the government and economists, according to official data released on Monday. Consumer prices rose by 3.37 percent in May compared to an increase of…
- NAIROBI, Kenya, June 3 – The Energy, Petroleum, and Regulatory Authority (EPRA) is urging Kenyans to embrace electric vehicles (EVs) to cut the country’s toxic emissions from combustion vehicles. Through this, the regulator has lined up a nationwide campaign dubbed ‘Tusonge na EVs’ to create…
- NAIROBI, Kenya, June 3 – Burn, which is a maker and distributor of clean cookstoves, has been named on TIME’s list of the world’s 100 most influential companies in 2024. The company’s contribution to clean cooking was the reason for selection. To date, BURN has delivered 4.5 million stoves,…
- JUNE 3 – Several districts in the southern Germany region of Bavaria have declared emergencies because of high water levels, after downpours led to the death of a volunteer firefighter. The national weather forecasting service warning of more heavy rains to come. The 42-year-old volunteer…
- NAIROBI, Kenya, June 3 – NCBA Bank has kicked off a one-month banking market activation across multiple states in the United States. The initiative, which includes a range of tailored financial solutions, aims to engage with the diaspora community by providing financial solutions that serve the…
- NAIROBI, Kenya, June 3 – The Institute of Certified Investment and Financial Analysts (ICIFA) and Safaricom have signed a Memorandum of Understanding (MoU) aimed at promoting accessibility and inclusivity in financial education. Under the terms of the partnership, ICIFA and Safaricom will…
- JUNE 3 – Online fast fashion firm Shein is planning to file paperwork for a potential London share listing as soon as this week, according to reports. An initial public offering (IPO) could value the company at around $66bn (£51.7bn). The firm, which was founded in China and now headquartered in…
- NAIROBI, Kenya, June 3 – A new passenger terminal will be put up at the Kisumu Port to accommodate cruise ships. KPA said that its engineers have already finalized the design of the modern terminal. The Kisumu Port Resilient Infrastructure Project, a collaborative initiative with TradeMark Africa,…
- VIENNA, June 2 (Xinhua) — The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, decided to extend its current output cuts at least into the third quarter of this year to shore up oil prices. Following a virtual meeting of OPEC+ oil and energy ministers…
- NAIROBI, Kenya, June 3 – Metropolitan National Sacco Society Limited has sought help from Silverline Auctioneers to recover unpaid loans totaling Sh88,211.8. In letters seen by Capital Business, Silverline Auctioneers has ordered Margaret Wanjiru Gichuki to immediately repay the Sh35,000 loan. The…
- JUNE 2 – European retailers are rushing to place their Christmas orders early as soaring shipping costs and trade route disruption threaten holiday deliveries, experts say. For the last few months, vessels belonging to Western firms have been attacked in the Red Sea by Houthi rebels backing Hamas…
- NAIROBI, Kenya, Jun 2 -- Kwale Governor Fatuma Achani has announced a planned increase in charges for the entry of lorries ferrying Muguka from Sh10,000 to Sh300,000. Achani said the rate proposed under the County Finance Bill 2024/2025 will support efforts to discourage the uptake of the…
- KINSHASA, June 2 (Xinhua) — The central bank of the Democratic Republic of the Congo (BCC) decided to maintain its policy rate at 25 percent at a meeting of its Committee on Monetary Policy (CPM) held on Friday, according to a statement released on Saturday. This decision was made against a…
- NAIROBI, Kenya, June 2 – Kenyans will have a say on new mergers under a new bill proposed by the Competition Authority of Kenya (CAK). The draft Competition Amendment Bill 2024, which is currently undergoing public scrutiny, recommends public input on mergers to address competition and consumer…
- NAIROBI, June 1 (Xinhua) — Kenyan President William Ruto on Saturday vowed to invest more resources in expanding agriculture to improve food security. Speaking at the celebrations marking 61 years since Kenya attained internal self-rule from Britain (Madaraka Day), Ruto enumerated his…
- SACRAMENTO, the United States, June 1 (Xinhua) — A new wave of legal and legislative efforts targeting fossil fuel companies is gaining momentum in the United States, demonstrating a growing public effort to hold big oil and gas companies accountable for their impact on climate change. A new…
- JUNE 1 – Ticketmaster owner Live Nation confirmed “unauthorised activity” on its database after a group of hackers said they had stolen the personal details of 560 million customers. ShinyHunters, the group claiming responsibility, says the stolen data includes names, addresses, phone numbers and…
- NAIROBI, Kenya, Jun 1 — The government has approved Sh600 million for sugarcane development to anchor sugar sector reforms. The funding is part of a Sh2 billion lease plan announced by President William Ruto through state-owned mills and is set to be used for cane seed development in the sugar belt…
- NAIROBI, Kenya, June 1 — The government is set to scale up coffee production to 102,000 metric tons by 2027. This is an increase from 50,000 metric tons, translating to 10 kilograms for every bush of coffee. President William Ruto who spoke during the Madaraka Day celebrations in Kanduyi, Bungoma…
- TOKYO, June 1 (Xinhua) — Core inflation in Tokyo continued to rise in May as utility costs expanded, government data showed. The Tokyo core consumer price index, which excludes volatile fresh food but includes fuel costs, rose 1.9 percent in May from a year earlier, accelerating from a 1.6 percent…
- NAIROBI, Kenya, June 1 – Agro-food processor Kakuzi yesterday opened a new macadamia oil processing plant with a capacity of 1,000 litres per day. The new unit also has an installed capacity of 2,000 tonnes of saleable kernel (SK), making it one of the largest in the region. Kakuzi Chairperson…
- OTTAWA, June 1 (Xinhua) — Canada, generally a net electricity exporter, imported 3.3 million megawatt-hours (MWh) of electricity, a jump of 127.8 percent year over year, from the United States in March due to prolonged dry conditions, Statistics Canada said Friday. Canada’s electricity exports fell…
- NAIROBI, Kenya, June 1 – Prices of goods and services rose slightly in the month of May to 5.1 percent from 5 percent in April, pushed up by rising food and transport prices. Higher housing, electricity, gas, and other fuels also contributed to Kenya’s high inflation last month. In the period, the…
- JUNE 1 – Land selling firm AMG Realtors has developed a digital platform that seeks to educate investors on the latest trends shaping the country’s real estate industry With cases of land fraud being on the rise, the site also seeks to educate people on what they should and should not do while…
- BRUSSELS, May 31 (Xinhua) — The Eurozone’s yearly inflation rate should be reaching 2.6 percent in May, according to preliminary data published on Friday by Eurostat, the European Union’s (EU) statistical bureau. The Eurozone’s inflation rate stood at 2.4 percent in April and March, and had been on…
