Kenya Airways defends air ticket pricing against rivals
Kenya Airways has defended its higher air ticket prices relative to other airlines. KQ chief executive Mbuvi Ngunze on Thursday said the airline’s tickets are only priced higher during peak demand, when travellers book late and according to quality of services…[…]
El Nino fears push up coffee prices at the auction by 17pc
The price of coffee has gone up 17 per cent as demand at the auction rose this week with traders buying more in anticipation of El Nino disruption. “The demand was high this week as traders bought more quantities for future sales as they anticipate good prices in the coming days,” said the head of coffee directorate Greenville Kiplimo. Mr Kiplimo said coffee prices might go up in the coming days due to a shortage that might be caused by the anticipated El Nino rains which are expected to cut farm yields…[…]
Shares of foreign oil explorers in Kenya take a hit
Shares of foreign companies exploring for oil in Kenya have taken huge hits over the past one year, hurt by low oil prices that have made it tougher for the companies to get new financing for their exploratory work. Some of the companies with a presence in Kenya whose share valuations has tanked in the period include Africa Oil, Tullow, Afren, Erin Energy (formerly Camac), Pancontinental, BG Group and Taipan…[…]
Cheap fertiliser beckons as Toyota kicks off Sh123bn Eldoret factory
Toyota Tsusho Corporation will today start construction of a $1.2 billion (Sh123 billion) fertiliser plant in Uasin Gishu, opening a window for farmers to buy the critical input cheaply from the maiden factory next year. The plant will be built on a two-acre piece of land that the firm has acquired in Kapsaret, 12km from Eldoret…[…]
Safaricom downplays Airtel’s 4G licence fears
Safaricom says it will be obligated by the industry regulator to share capacity on its 4G network at a fee, responding to fears from Airtel which wants the telecoms regulator to stop planned commercial launch of the service before the sharing agreement is signed. Safaricom said on Thursday the sharing agreement would be part of the licensing conditions and that the model of sharing has not yet been agreed upon…[…]
Dubai Bank compensation starts Monday
The liquidator of Dubai Bank Kenya is set to start compensation of the collapsed lender’s customers for up to Sh100,000 of their deposits. The CBK’s Kenya Deposit Insurance Corporation on Thursday said it will from Monday pay depositors who have already filled claim forms through their bank accounts and mobile money system M-Pesa…[…]
Boeing halts KQ planes over cash hitch
US aircraft maker, Boeing, has put on hold manufacture of two planes ordered by Kenya Airways after a financing deal fell apart. The development further compounds the cash crisis at the national carrier coming at a time when it is negotiating with the Kenyan government and other shareholders for a fresh cash injection to shield it from collapse….[…]
ERC to draft new policy to regulate energy use
The Energy Regulatory Commission (ERC) will publish new policy guidelines to regulate use of energy. According to the regulator, under the proposed guidelines, consumers who use electricity to boil at least 1,000 litres of water or more would be required to install solar panels, among a raft of other measures…[…]