- Argentina's annual inflation rate tore past 100% in February, the country's statistics agency said on Tuesday, the first time it has hit triple figures since a period of hyperinflation in 1991, over three decades ago.
- The Digital Lenders Association of Kenya has rebranded to Digital Financial Services Association of Kenya (DFSAK) as the association reported disbursing over Ksh.500 billion in mobile loans to small businesses and households over the last eight years.
- Facebook-parent Meta plans to lay off another 10,000 workers, marking the second round of significant job cuts announced by the tech giant in four months.
- Volkswagen plans to invest 180 billion euros (around Ksh.25.1 trillion) over five years in areas including battery production and the sourcing of raw materials in a bid to cut electric vehicle costs and protect its market share, it said Tuesday.
- Standard Chartered Kenya (SCBK.NR) posted a 36% jump in its pretax profit for 2022 to 17.1 billion shillings ($132.15 million), its chief financial officer said on Tuesday.
- The government has entered into an oil importation deal that will see the state import petroleum products under a six months-credit and possibly lead to lower fuel prices.
- Kenya and the World Bank have increased the amount under discussion for a potential budget support loan this fiscal year by a third to $1 billion, a document posted on the bank's website showed.
- US regulators shuttered Silicon Valley Bank (SVB) on Friday and took control of its deposits, in what amounts to the biggest retail banking failure since the global financial crisis.
- About ten small-scale millers have completely shut their operations due to an acute shortage of maize coupled with non-payment of maize delivered under the subsidy program.
- Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers.
- Elon Musk has apologized after publicly scoffing at a Twitter employee’s uncertainty about whether he had been laid off in a recent round of cuts and speaking dismissively of the employee’s disability in a series of tweets Monday night.
- Twenty Kenya-based start-ups have been selected for the third class of the Creative DNA program, a British Council program funded by the Foreign Commonwealth Office to support the growth of the local fashion industry.
- Aspira Kenya, a subsidiary of Mauritius-based Cim Financial Services Group, has launched Aspira Bizna, a new asset finance offering tailored for Kenya’s SMEs.
- The government is looking for a strategic partner to buy out Kenya Airways’ Ksh.170 billion debt as it moves towards cutting funding for the national carrier by the end of the year.
- Kenya Airways (KQ) has renewed a two-year partnership with Kenya Open Golf Limited (KOGL) to continue as the Magical Kenya Open Official Airline Partner.
- The Kenya Electricity Generating Company (KenGen) and Embu County Government have signed an agreement to work together in the implementation of various emergency-related projects and long-term initiatives.
- The Co-operative Bank of Kenya has emerged as the Overall Winner of the Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).
- Kenya Electricity Generating Company (KenGen) hosted the Vice President of the European Investment Bank (EIB), Mr. Thomas Östros at the Olkaria Geothermal Power Plant.
- Several popular Chinese apps have removed access to ChatGPT, the artificial intelligence chatbot that has taken the world by storm even as major Chinese tech companies race to develop their own equivalent.
- US President Joe Biden said Thursday that Washington is nominating former Mastercard Chief Executive Ajay Banga to lead the World Bank after its current chief David Malpass announced plans to step down early.
- Global cosmetics giant L’Oréal has announced the appointment of Yassine Bakkari as the new Managing Director for East Africa, with his predecessor Serge Secre taking on a new role as MD for South Africa.
- Kenya's revenue from its vital tourism industry surged to more than Ksh. 252. 1 billion ($2 billion) last year but remains below pre-pandemic levels, the government said Wednesday.
- German carmaker Mercedes-Benz reported a jump in profits for 2022 on Friday thanks to strong demand for high-end and electric models, but warned of a sluggish start to the new year in Europe.
- Seed, a Stanford Graduate School of Business-led initiative, has renewed its collaboration with the African Management Institute (AMI) in its ongoing effort to partner with entrepreneurs to help them build thriving enterprises that transform lives.
- The Kenya Investment Authority (KenInvest) has renewed its eight-year bilateral partnership with the Japan External Trade Organization (JETRO), reaffirming its commitment to collaborate in the areas of promotion and facilitation of investments between Kenya and Japan.
- The Norwegian Development Finance Institution has a portfolio of Ksh.46 billion ($372 million) invested in Kenya across various sectors of the economy and invested Ksh.4 billion in the country in 2022.
- A jersey worn by US basketball legend Kobe Bryant -- who died three years ago in a tragic helicopter accident -- sold at auction for $5.8 million (Ksh. 726.2 million) on Thursday.
- Turkey’s stock market has sunk 15% in the three days since a devastating earthquake hit parts of the country’s south, piling further pain onto an already fragile economy.
- The Moja Expressway Company has registered over 10 million users in the 7 months that the Nairobi expressway has been in operation resulting in revenue collections of Ksh. 2 billion during the period .
