Consider driving these high performance cars Technological innovations in the automotive industry have moved quite fast recently. It looked like a fantasy when talk about the electric and battery powered vehicles started. Some modern cars such as the Renault Zoe which is powered with these fuels are so silent that…

Food prices offset gains from low energy bills edging up inflation to 5.61pc Inflation bucked a five month decline in February, inching up marginally on rising prices of key food items which offset benefits from lower energy bills. Data from the Central Bank of Kenya (CBK) shows that the cost…

CfC Stanbic triples dividend payout after 10.9pc net profit increase CfC Stanbic Holdings has nearly tripled its dividend payout following a 10.9 per cent increase in net profit for the full-year ended 2014 driven by sharp growth in interest income. The holding company, which owns CfC Stanbic Bank and its…

Energy shares gain as falling oil price lifts consumption Shares of oil marketers KenolKobil and Total are up 15.5 per cent and 12.5 per cent respectively so far this year at Sh10.05 and Sh27. On the electricity side, Kenya Power and KenGen are up 17.6 per cent and 4.4…

Mastermind wins Kenya Power deal to build substations Advertising firm Magnate Ventures and Mastermind Tobacco, through its subsidiary NGM Ltd, have signed lucrative tenders for construction of 36 Kenya Power substations in bids, which were dominated by Asian and Gulf-based companies. According to Kenya Power, the new substations will improve…

Kenya’s Uchumi sinks into red but confident of east Africa expansion Kenya’s Uchumi Supermarkets Ltd posted a mid-year pretax loss after investing in new branches but said it was confident its expansion strategy in east Africa would soon pay off. A rise in staff costs and higher rental prices, including…

NSE inches toward seven-year high on Safaricom’s gains The Nairobi bourse shrugged off negative effects of the capital gains tax controversy to hit a seven year high on Friday with demand aided by a highly liquid money market. The NSE 20 share index closed at 5,465 points, the highest since…

Shilling stuck in a tight range against dollar The Kenyan shilling was stable against the dollar on Friday and traders said it was likely to trade in a tight range over the next few days. At 0755 GMT, commercial banks posted the shilling at 91.40/50 per dollar, unchanged from the…

Safaricom at all-time high as NSE soars The indicative NSE 20-Share index gained 27.7 points in Thursday’s trading to close at 5473.8 as telecommunication giant Safaricom touched an all-time high and beer maker East African Breweries Limited (EABL) traded at the highest price in the last one year.

Telecom firms to pay hefty penalties for poor service Telecom firms are set to start paying between 0.1 to 0.2pc of their annual revenue instead of Sh500,000 flat rate as penalties for providing substandard services to customers. CA director-general stated that the current fine was too lenient and has…