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  • East Africa Cross Border Trade Bulletin (July 2017, Volume 18)

    July 27, 2017 10:46 AM 11

    - Tanzania’s ban on maize grain exports to assure the country’s food security and to encourage value addition through exports of flour, would likely move regional cross-border trade to informal channels because of porous borders, and increase the maize export prices because of additional of costs of circumventing the ban. - Volumes of informal maize

  • SGR phase two to Naivasha now on course

    July 27, 2017 9:50 AM 11

    Kenya Railways Managing Director, Atanas Maina, has authenticated the headway of Standard Gauge Railway Phase 2A, which will see the SGR expanded from Nairobi to Naivasha through the Nairobi National Park. The decision to proceed with SGR in the Nairobi National Park is a blow to environmentalists who had fervently opposed the idea of unsettling wildlife

  • NBK earnings drop 42pc as funding delays

    July 27, 2017 6:35 AM 16

    National Bank’s #ticker:NBK net earnings for the six months to June dropped 42 per cent with the lender’s key capital ratio slipping further below regulatory requirements as fundraising plans continue to delay. NBK, in which KCB Group #ticker:KCB reportedly plans to acquire a majority stake, said its half-year net profit had tumbled to Sh179.8 million

  • Central Bank of Kenya's 25 million music fete sponsorship

    July 27, 2017 5:45 AM 11

    Central Bank of Kenya supported the just-concluded 91st edition of the annual Kenya Music Festival to the tune of Sh25 million, Governor Patrick Njoroge has disclosed. Dr Njoroge said the bank was glad to be associated with the fete that attracts over nine million participants from early childhood to university level. “Last year, we sponsored the festival

  • Kenya signs tax deal with S. Korea

    July 26, 2017 1:19 PM 9

    The tax and investment treaty, which has come as a result of talks between a delegation from the Treasury and representatives from South Korea, seeks to avoid double taxation on the earnings of private companies with operations in both Kenya and South Korea. In addition, shareholders in such companies will be exempted from the taxes. “Kenya has ratified

  • Home sales soar at record-breaking pace

    July 26, 2017 12:15 AM 5

    New numbers from the Iowa Association of Realtors’ Housing Trends Report shows a record-breaking number of home sales in June. The Iowa Association of Realtors said 5,389 homes were sold last month, compared to the 5,120 in June 2016. The median price of homes rose 5.8% to $165,000. “The inventory is low, so people are rushing to buy houses when they come on the market

  • Safaricom picks Brian Wamatu as head Mpesa

    July 25, 2017 10:33 AM 17

    Safaricom has picked Brian Wamatu to replace Ronald Webb who has resigned from the company as the head of Mpesa. The company says Webb who joined the company a year ago from Equity Bank is going back to United Kingdom without divulging more details. Ronald Webb joined Safaricom in August last year from Equity Bank where he was head of directorate of payments

  • Uber driver caught by passenger allegedly receiving oral sex from lady friend

    July 25, 2017 5:18 AM 2

    UBER has reportedly suspended a driver after a customer claimed the man was engaged in sex acts with a woman during the “dangerous and inappropriate” trip. Aner Manuel, of Boston, took to the company’s Facebook page to complain about a trip where his driver appeared to receive oral sex from a woman. According to Manuel, he got in the car and noticed

  • Hotels bet on tech to shore up market reach

    July 25, 2017 4:52 AM 4

    The Internet has revolutionised operations and marketing of businesses. In Kenya, the food service industry is adapting to this new wave of interruption that is paying off handsomely for some players. According to Communication Authority of Kenya’s Third Quarter Sector Statistics Report For Financial Year 2016/2017, Internet users rose to 40.5 million

  • Husband storage" facility opens in Chinese shopping mall

    July 24, 2017 6:46 AM 7

    Shopping with girlfriends or wives may be one of the most tedious chores for men. A shopping mall in China's Shanghai Municipality has solved this problem by launching "husband storage" facilities. The transparent self-service pods in Shanghai's Global Harbor shopping center are equipped with a TV screen, a leather massage chair, and game consoles