KQ to face stiffer competition with planned open skies policy
KQ to face stiffer competition with planned open skies policy The national carrier Kenya Airways and its budget subsidiary Jambojet could see their dominance on domestic routes challenged following the government’s announcement that it is working toward implementing the open skies policy to allow more airlines…
Closing Bell: Car & General (Kenya) Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Car & General (Kenya) Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Car & General (Kenya) Ltd (C&G) was the top gainer of the day. It gained 9.38% to close at KES 43.75 which was a KES 3.75 gain in share price. Atlas Development and Support Services…
High interest on bonds to hit bank, insurers’ earnings
High interest on bonds to hit bank, insurers’ earnings Banks and insurance companies’ earnings are expected to take a hit from unrealised losses arising from the recent hike in interest rates for Treasury bills and bonds. Interest rates of the bills have shot to 20.6 per…
ERC NEW PRICES FOR PETROLEUM PRODUCTS
According to the recently released petroleum prices by ERC, on the 14th of October, the changes in the maximum allowed petroleum pump price is as follows: Super Petrol reduces by KES 9.36 per litre,Diesel increases by KES 2.44 per litre and Kerosene increases by KES 3.49 per litre. According to…
TransCentury to embark on fundraising
TransCentury to embark on fundraising NSE-listed Investment firm TransCentury plans to raise funds to finance its projects in the next six months, the company’s board has announced. The firm wants cash to refinance the Sh5.8billion (USD 56.8m) convertible bonds that are due on March 25 next…
Closing Bell: Jubilee Holdings Limited Top Gainer as Home Afrika Ltd Declines
Jubilee Holdings Limited Top Gainer as Home Afrika Ltd Declines Jubilee Holdings Limited (JUB) was the top gainer of the day. It gained 9.82% to close at KES 425.00 which was a KES 38.00 gain in share price. Home Afrika Ltd (HAFR) was the top loser of the day. It…
Uchumi reveals Sh2.4bn drain by closed outlets
Uchumi reveals Sh2.4bn drain by closed outlets Uchumi Supermarkets’ regional subsidiaries cost the retailer Sh2.4 billion in cash injection every year but returned losses for the past five years leading to their closure this week. Uchumi says it has consistently pumped Sh200 million a month into…
Closing Bell: WPP Scangroup Limited Top Gainer as Jubilee Holdings Limited Declines
WPP Scangroup Limited Top Gainer as Jubilee Holdings Limited Declines WPP Scangroup Limited (SCAN) was the top gainer of the day. It gained 9.78% to close at KES 25.25 which was a KES 2.25 gain in share price. Jubilee Holdings Limited (JUB) was the top loser of the day. It…
Seven bank stocks touch one-year low at NSE trading
Seven bank stocks touch one-year low at NSE trading Seven banking counters at the Nairobi Securities Exchange (NSE) on Wednesday touched a one-year low as the market responded to the sudden closure of Imperial Bank leading to the indicative NSE 20 share index dropping to levels…
KRA sues Airtel for Sh531 million fifteen-year claim
KRA sues Airtel for Sh531 million fifteen-year claim The Kenya Revenue Authority (KRA) is pursuing Airtel Kenya for Sh531 million taxes it claims the telco owes from its first two years of operation in Kenya. KRA says the amount arose from Airtel’s $55 million (Sh5.6 billion)…
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