Kenyans lose millions on Facebook Scam

More than 5,000 Kenyan Facebook users have lost millions of shillings in a hacking scam that lasted for a year, a local cyber security firm has revealed.

The firm, Serianu, says it has unmasked a Kenyan hacker who broke into personal accounts of Facebook users in Nairobi, Mombasa and Eldoret and used the access to solicit funds from thousands of people linked to the breached accounts. The hackers solicit money from the victims friends.

Kenya Power to Lower Power Costs for Industrial Customers

Energy secretary Davis Chirchir said earlier cheaper off-peak electricity tariffs would start in the first quarter of next year and that industrialists would enjoy a discount of 40 per cent between 11pm and 5am.

The power company is also targeting a nearly five-fold jump in income from Nairobi street lights to Sh2.4 billion per annum beginning June next year, when it expects to have completed a new plan to light up the capital city. The electricity distributor currently earns Sh392 million every year from 3,172 customers connected to street lights countrywide.

Lower Electricity Prices Contribute to the Lowest Inflation since August 2013

Inflation last month eased to a 15-month low, helped by falling food, electricity and fuel prices. Data from the Kenya National Bureau of Statistics (KNBS) shows that the cost of living measure stood at 6.09 per cent, down from 6.43 per cent last month.

This is the third month in a row that inflation has dropped since it hit a 25–month high of 8.36 per cent in August.

Oil Prices Hit New Lows

Oil tumbled to new multi-year lows in Asia on Monday, extending a sharp sell-off last week that came in response to OPEC's decision to maintain crude output despite a supply glut and plunging prices. US benchmark West Texas Intermediate (WTI) for January delivery dipped $1.49 in midday Asian trading to $64.66.