Closing Bell – 8 August 2012
INDICES The NSE 20 Share Index today dropped by 0.34 points to settle at 3,815.10 points from 3,815.44 points yesterday while the All Share Index gained 0.22 percent to 83.64 points from 83.46 points yesterday. HIGHEST VOLUMES Equity Bank…
Because Moving House is Too Mainstream
A lecturer at the Kisumu Polytechnic has put together a movable house.The house is a single-storied construction, built with prefabricated steel and wooden fringes in the interior. Speaking to the press, Samson Alemba, who put it together with the help of other lecturers in the institution and Arc…
Nation Media Businesses Post Financial Growth
The majority of Nation Media Group’s business divisions have posted financial growth in the six months to June this year as noted in the media conglomerate’s half-year financial results announced during an investor briefing held this afternoon. Nation’s official unaudited statements show that the…
World Bank Gives KES 16.8 Billion to Eliminate Blackouts
Kenya Power Company has secured a KES 16.8 billion (USD 200 million) loan deal from the World Bank‘s International Finance Corporation (IFC) to invest in its grid. The Power company will use the loan to implement 42 power projects which will involve…
New Meat Market To Offer Competitive Prices
The Kenya Livestock Marketing Council (KLMC) intends to construct a goat and cattle market for pastoralists in East Pokot. According to the Council, the new market will give livestock farmers in the region a chance to sell their cattle for better prices. Pastoralists in East Pokot have been…
Nairobi City Council Extends Waiver Period
As tweeted by K24 TV, the deadline for City Council of Nairobi Operation Clamp down for rates defaulters set to end today, August 8, 2012 has been extended for another ten days. We were though unable to get in touch with City…
No Compensation for Displaced Slum-Dwellers
The government will not reimburse Kenyans displaced by the upgrade of the railway line that passes between Mukuru and Kibera slums. According to the Ministry of Transport, slum-dwellers and businesses operating along the railway will not receive any compensation aside from their resettlement. This comes shortly after investors…
D-Day For Land Rates Defaulters
Today is August 8th 2012, the deadline for Operation Clampdown and hundreds of land rates defaulters are currently queuing at the county hall in an attempt to beat today’s deadline. Defaulters on property rates had earlier been given a 100% waiver and advised by the City Council of Nairobi to clear…
Scangroup Half-Year Earnings Grow as Share Trades High
Africa’s leading marketing services group has posted an 11 percent growth in pre-tax profit for the first six months of this year to 578.4 million shillings up from 520.9 million shillings last year as the group’s shares trade in their highest range since 2010. According…
New Money Transfer Platform to Join the Market Soon
In addition to M-Pesa, Airtel Money, Orange Money and Yu Cash, Barclays Bank of Kenya (BBK) will at the end of this month launch a new mobile banking platform. As posted in the Business Daily, the new platform seeks to compete with money transfer services operated…
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Capping Interest Rates would Hurt Borrowers, says KBA
The push by members of parliament to have interest rates capped could hurt borrowers in the long run. Kenya Bankers Association chairman Habil Olaka says that the move will result to banks devising methods to have secure lending only which will lock out…
Zuku to Expand Coverage To Other Parts of Nairobi
Zuku has announced plans to expand its coverage into Eastern and Northern parts of Nairobi. Announcing the new Zuku packages, Zuku Triple Play Managing Director Kamande Muiruri said, “Starting this August we are planning to roll-out our cable connection in Eastern part of Nairobi. This will…
Food Items to be Exempted From VAT
Food items have been exempted from the effects of VAT Bill 2012 that is currently in parliament for debate. Finance Minister Njeru Githae told Daily Nation on Tuesday 7th August 2012 that the cabinet resolved to this move owing to pressure from the public. The…
Should Jobless Graduates be Paid?
University student leaders in the country are appealing to the government to set up a fund that would see jobless graduates get a monthly allowance. According to The Star newspaper, Kenya University Students Union (KUSU) wants the government to pay jobless diploma and degree graduates KES…
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