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  • Rwanda-based CityBlue chain to rebrand Kenyan Best Western

    October 12, 2017 7:32 PM 7

    Rwanda-based CityBlue Hotels is set to open its first CityBlue-branded property in Kenya in a former Best Western Plus hotel. “We plan to open the rebranded CityBlue Creekside Hotel & Suites next month as the value hotel of choice for the Mombasa market, as it takes off post-election and into the busy December season,” CityBlue Hotels’ Founder & CEO, Jameel

  • Actuarial firm taps ex-IRA boss Makove to head unit

    October 12, 2017 6:47 PM 6

    Former Insurance Regulatory Authority (IRA) chief executive Sammy Makove has joined consultancy Kenbright Actuarial and Financial Services as head of its new regulatory affairs and advisory division. The firm said Mr Makove’s role would be augmented by an international adviser, Holly Bakke, a former insurance commissioner of banking and insurance for the US State

  • Siemens Gamesa opens in Africa

    October 12, 2017 10:24 AM 4

    Morocco blade factory to supply SWT-DD-130 platform up to 4.2MW  Siemens Gamesa Renewable Energy has officially inaugurated a new blade factory in Tangier in Morocco. It will make B63-10 blades with a length of 63 metres for export to Europe, Africa and the Middle East, as well as for local projects. Siemens Gamesa said the plant could produce other

  • Morocco Is Getting Ready To Test The ‘Fastest Train In Africa’

    October 12, 2017 8:58 AM 4

    Engineers in Morocco are preparing to test Africa’s first high-speed train this week. The new trains can reach speeds of about 320 kilometres (200 miles) per hour. The French-made double-decker TGVs are being tested ahead of the launch of a flagship new line connecting Tangier with Morocco's economic capital, Casablanca in 2018. They will cut the journey

  • Qatar Airways to Increase Seychelles Capacity

    October 12, 2017 5:35 AM 3

    Qatar Airways is to upgrade flights to Seychelles with an Airbus A330 aircraft, starting 29 October 2017. The 260-seat A330 aircraft will increase the airline’s current daily capacity by 130% on the route. Flight QR678 is scheduled to depart Doha (DOH) at 02:50 and arrive in Seychelles (SEZ) at 09:10. The return flight, QR 679, is scheduled to depart

  • Analysts Issue Tullow Oil Price Target at $224.19

    October 11, 2017 10:22 PM 1

    Tullow Oil (LON:TLW) has received an average rating of “Hold” from the twenty-one research analysts that are covering the share, . Two research experts recommended the company shares with a sell rating, eight has issued a hold rating and eleven have published a buy rating on The corporation. the consensus one year target price between analysts who have covered

  • L&T Hydrocarbon Engg bags Rs 1,150-cr mandate from ONGC

    October 11, 2017 5:40 AM 5

    L&T Hydrocarbon Engineering has secured a Rs 1,150-crore contract from ONGC pertaining to a Daman Development project. "L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has bagged an offshore contract for the Transportation and Installation - Daman Development project from Oil and Natural Gas Corporation (ONGC) valued at approximately

  • Relief as high import volumes cut price of sugar by 27 per cent

    October 10, 2017 7:06 PM 8

    The factory price of sugar has dropped 27 per cent in the last two months as high volumes of imports helped to cool the high cost of the commodity, triggering further declined in consumer prices. The retail price of sugar has subsequently dropped from a high of Sh400 for a two-kilogramme packet in March to Sh250. The regulator attributes the decline

  • Kenya: Job Losses Loom in Chase Bank Takeover

    October 10, 2017 9:47 AM 8

    SBM Holdings of Mauritius' looming takeover of Chase Bank is coming with possible loss of scores of jobs, according to a Central Bank of Kenya (CBK) statement issued Monday. The proposed transaction will lead to "a transfer of a substantial number of staff and branches" of the existing Chase Bank operation, the CBK said in the statement, signalling that those

  • Brazil revives African ties, eyes expanding market

    October 9, 2017 5:04 PM 9

    BRASILIA, Oct 9 (Reuters) - Agricultural powerhouse Brazil aims to revive ties with Africa after a lull and sees a vast export market for food and manufactured goods in a continent whose population is surging, its foreign minister said. Brazil's presence in Africa surged during the government of former President Luiz Inacio Lula da Silva, who opened