KCB accuses contractor of seeking to change loan terms in Sh7bn row
KCB accuses contractor of seeking to change loan terms in Sh7bn row KCB has accused contractor Kundan Singh Construction (KSC) International of trying to trick the court into altering agreements that allowed the firm to borrow Sh7.1 billion from three banks. KCB wants the High Court…
Closing Bell: Atlas Development and Support Services Ltd Top Gainer as Uchumi Supermarket Limited Declines
Atlas Development and Support Services Ltd Top Gainer as Uchumi Supermarket Limited Declines Atlas Development and Support Services Ltd (ADSS) was the top gainer of the day. It gained 6.9% to close at KES 1.55 which was a KES 0.10 gain in share price. Uchumi Supermarket Limited (UCHM) was the…
Mumias seeks Sh2bn more in Treasury bailout
Mumias seeks Sh2bn more in Treasury bailout Mumias Sugar is seeking an additional Sh2 billion bailout from the government after falling deeper into the red in the six months to December 2015. The second bailout comes after having received a Sh1 billion rescue package last June…
Closing Bell: Sasini Ltd Top Gainer as National Bank Of Kenya Ltd Declines
Sasini Ltd Top Gainer as National Bank Of Kenya Ltd Declines Sasini Ltd (SASN) was the top gainer of the day. It gained 7.69% to close at KES 21.00 which was a KES 1.50 gain in share price. National Bank Of Kenya Ltd (NBK) was the top loser of the…
Ex-KRA boss bets big on KQ with 1.1m share deal
Ex-KRA boss bets big on KQ with 1.1m share deal Michael Waweru is now the seventh-largest local individual shareholder of Kenya Airways, holding a stake valued at about Sh5.1 million at current market price. He joins billionaire investor Chris Kirubi who acquired 2.1 million shares of…
Closing Bell: Carbacid Investments Limited Top Gainer as B.O.C Kenya Ltd Declines
Carbacid Investments Limited Top Gainer as B.O.C Kenya Ltd Declines Carbacid Investments Limited (CARB) was the top gainer of the day. It gained 9.16% to close at KES 14.90 which was a KES 1.25 gain in share price. B.O.C Kenya Ltd (BOC) was the top loser of the day. It…
Treasury to cut 2015/16 local borrowing by a quarter, Rotich says
Treasury to cut 2015/16 local borrowing by a quarter, Rotich says Kenya will cut its planned domestic borrowing for the 2015/16 (July-June) fiscal year by about a quarter to Sh168 billion ($1.65 billion), on the back of expenditure cuts of 1 per cent of GDP,…
Closing Bell: Atlas Development and Support Services Ltd Top Gainer as Carbacid Investments Limited Declines
Atlas Development and Support Services Ltd Top Gainer as Carbacid Investments Limited Declines Atlas Development and Support Services Ltd (ADSS) was the top gainer of the day. It gained 10% to close at KES 1.65 which was a KES 0.15 gain in share price. Carbacid Investments Limited (CARB) was the…
ICPAK to act on Ciano only after Uchumi adopts forensic report
ICPAK to act on Ciano only after Uchumi adopts forensic report The Institute of Certified Public Accountants (ICPAK) has said Uchumi Supermarkets board needs to adopt a forensic report that accuses former CEO Jonathan Ciano of misconduct before it can take disciplinary action on him. The…
Closing Bell: Car & General (Kenya) Ltd Top Gainer as Umeme Limited Declines
Car & General (Kenya) Ltd Top Gainer as Umeme Limited Declines Car & General (Kenya) Ltd (C&G) was the top gainer of the day. It gained 9.86% to close at KES 39.00 which was a KES 3.50 gain in share price. Umeme Limited (UMME) was the top loser of the…
Kenya’s tea earnings to likely fall in 2016, regulator says
Kenya’s tea earnings to likely fall in 2016, regulator says Kenya is the world’s leading exporter of black tea with the commodity being a major foreign exchange earner. The Agricultural, Fisheries and Food Authority (AFFA) said total output fell 10 per cent to 399.21 million kg…
Closing Bell: Standard Group Limited Top Gainer as Liberty Kenya Holdings Limited Declines
Standard Group Limited Top Gainer as Liberty Kenya Holdings Limited Declines Standard Group Limited (SGL) was the top gainer of the day. It gained 8% to close at KES 27.00 which was a KES 2.00 gain in share price. Liberty Kenya Holdings Limited (CFCI) was the top loser of the…
KQ hires American firm to advise on Sh60bn capital injection plan
KQ hires American firm to advise on Sh60bn capital injection plan Kenya Airways (KQ) has signed up a New-York based advisory firm to restructure its balance sheet and help it seek approximately Sh60 billion in long-term capital refinancing. KQ has appointed PJT Partners as its transaction…
Closing Bell: Flame Tree Group Holdings Limited Top Gainer as Car & General (Kenya) Ltd Declines
Flame Tree Group Holdings Limited Top Gainer as Car & General (Kenya) Ltd Declines Flame Tree Group Holdings Limited (FTGH) was the top gainer of the day. It gained 8.4% to close at KES 7.10 which was a KES 0.55 gain in share price. Car & General (Kenya) Ltd (C&G)…
Fastjet stops Kilimanjaro flights a month after launch
Fastjet stops Kilimanjaro flights a month after launch Low-cost carrier Fastjet has stopped its Kilimanjaro-Nairobi flights, just a month after launch, handing Kenya Airways and its associate Precision Air competition relief on the Tanzania route. The UK budget airline launched daily flights between Dar es Salaam…
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