IMF Pushes for Increased Food Tax
Kenyans may have to pay more for milk, bread and maize flour if the government passes the 2012 Value Added Tax (VAT) Bill. According to the Consumer Federation of Kenya, the International Monetary Foundation (IMF) is pushing the government to impose a 16% tax…
VAT Bill 2012; How Will it Affect You?
The VAT Bill 2012 has been met with hostility from public views as well as members of parliament. A number of MPs including Dujis MP Aden Duale and Yatta MP Charles Kilinzo have announced that they will spearhead motions to have the controversial bill withdrawn. The Bill, which was approved by…
How Friendly was Your July?
If the recently released Consumer Price Index (CPI) by Kenya National Bureau of Statistics (KNBS) is anything to go by, July was an economically friendly month as compared to June 2012. The CPI decreased by 0.85 per cent from 133.06 in June to 131.92 in…
Kenya’s Inflation Rate Trend
The overall inflation dropped to a 17 months low to stand at 7.74 per cent in July from 10.05 per cent in June 2012, reflecting a 2.31 percentage point drop. The last time inflation stood below the 10 per cent level was in February 2011 when inflation was…
Stocks Watch
At today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters: Barclays Bank – The bank is expected to be announcing its half-year result for this year sometime this month. Last year, Barclays was ranked Kenya’s fourth biggest bank by…
8 Things You Should Know This Morning
Happy New Month! Here is couple of things you are waking up to this first day of August: 1. Inflation dropped to a 17-month low in July, setting the stage for a further reduction in interest rates to the benefit of consumers and businesses.- Business Daily 2. Kenya…
A Breakdown of the NIC Rights Issue
Companies use rights issues to raise more capital for reasons such as strategic expansions, to pay off debts or to buy out other companies. To raise the additional capital, a company invites existing shareholders to buy a specific number of new company shares at a discount.
Closing Bell – 31 July 2012
In today’s trading, the NSE 20 Share Index closed at 3,678.21 points while the All Share Index closed at 84.93 points. In total, 8.72 million shares were traded today in 1,457 deals. Total share equity traded today was worth KES 117,038,050. Source: FILE HIGHEST VOLUMES…
Recover Lost Data From Your Smartphone
East Africa Data Handlers have developed a program that will enable high-end phone users recover lost data due system failures, formatting, power surges, accidentally deleted files, corrupted data and viruses. Previously after a Blackberry wipe process, RIM recovery has been impossible but EADH are…
Nokia's Regional Office Returns to East Africa
Nokia is reinstating Nairobi as East Africa’s regional headquarters just months after downgrading the operation to a sales, distribution and customer service centre. The company, which has a 60% market share in Kenya in terms of Smartphone distribution, had moved its East African regional head office to Johannesburg…
Interruption of Water Supply
Nairobi Water Company has issued a public notice, on their facebook page, that there will be an interruption of water supply due to shut-down at the Kabete Water Treatment Plant. The aim of the shutdown is to relocate the water pipes around Museum…
KPA Seeks Tenders for Lamu Port Upgrade
The Kenya Ports Authority (KPA) is seeking bids for the design and construction of three water gateways in the Lamu port. The project, which will cost USD 5.3 billion, is part of a bigger venture which will include the construction of a railway, a pipeline, an airport, a…
Jua Kali Sector Covered by APA
Over eight million members in the Jua Kali sector stand to benefit from APA’s new insurance cover. “Heshima Mpango Poa” will provide cash benefits to members after a the death of a family member. APA’s chief executive Simon Clayton says that the product is tailor made precisely for consumers who are discouraged…
What You Need to Know About Mortgages industry Growth
Below is the Mortgages and Real Estate chat log from the ongoing “My 15 Min Chat with a Bank CEO”. The chat session was hosted by Frank Ireri, Managing Director, Housing Finance and Habil Okala, Kenya Bankers Association Chief Executive Officer. “My 15 Min Chat with…
Fifth Mobile Operator to Join the Market Soon
As posted in the Daily Nation this morning, a Vietnamese mobile operator, Viettel Group, has announced plans to start operations in Kenya. Viettel Group is a state owned mobile network operator with its headquarters in Hanoi, Vietnam. It started operations in Mozambique under Movitel on May 15, 2012.
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