1. Kibaki Rejects KES Billion MPs Bonus Package 

President Kibaki on Tuesday night shattered the MPs dream of a Sh2 billion sweatheart send off when he declined to sanction the deal stating the country’s economy was unable to shoulder an extra financial burden. “The President objected to the amendment on the grounds that it was first, unconstitutional and second, untenable in the prevailing economic circumstances in the country,” a dispatch from State House Nairobi said.

2. Mobile Money Deposits Rise to KES 672 Billion

Mobile money deposits for the year ending June 2012 rose by 38 per cent to exceed the half a trillion shilling mark, revealing just why the government can no longer resist the temptation to tax the sector. According to data released by the Communications Commission of Kenya (CCK) on Tuesday, Kenyans deposited Sh672.3 billion into mobile money services, up from Sh486 billion in year ending June 2011.

3. AAR Transforms into Fully Fledged Insurance Company

MEDICAL insurer AAR will now diversify its scope of business in the insurance sector to boost its profits. AAR which started in 1984 as medical and accident victims evacuation firm through their air ambulance service, before it ventured into full blown health covers, will today unveil operations in the general insurance business. The move by AAR comes as medical insurance business continues to register poor performance annually as per the industry reports by the Association of Kenya Insurers.

Recent industry data paint a gloom picture of medical insurance class which made a loss of Sh650.3 million last year and had the highest loss ratio of 84 per cent, which has been increasing every year.

4. Standard Chartered Unveil KES 8.5 Billion Expansion Plan

Standard Chartered plans to expand its operations in Africa, with a $100 million (Sh8.5 billion) investment plan aimed at doubling the size of its business in the continent in the next five years.

Standard Chartered has previously flagged its aim to expand in Africa and said it will unveil more details to investors yesterday, including plans to open 110 new branches in Kenya, Ghana, Nigeria and five other markets over the next three years.

5. KRA Strangling EAC Trade

CONGESTION at the Mombasa port and various tariff and non-tariff barriers by Kenya Revenue Authority are holding up the realisation of the East Africa Community integration and trade in the region, Trade minister Moses Wetangula said yesterday. Wetangula said congestion at the port had a significant impact to the trade in the region prompting regional countries using the port to explore other alternatives.

“We want the port of Mombasa to be super efficient for containers to leave the port and reach their destinations on time. At least the container should leave the port within six hours or one day on its arrival."He said.

6. Kenya's Mobile Phone Usage Jumps 19 pc Year on Year

Kenyans spent more time surfing the Internet on their cell phones in the second quarter of this year from a year ago, the regulator said on Tuesday. The Internet or data market leapt by 19.2 percent in the second quarter from the same period a year ago to 7.7 million users, the Communications Commission of Kenya (CCK) said.

7. Councillors Want KES 3.5 Billions Severance Package

Kenya’s 3,500 civic leaders Tuesday renewed their demand for a hefty severance pay citing a similar award to MPs five days ago.