Sasini Warns of Quarter Drop in 2012 Earnings
Sasini Ltd has issued a profit warning projecting that earnings for the financial year ended 31st September 2012 will be at least 25 percent lower than what the company made last year. “The Board of Directors of Sasini Limited Wishes to inform the shareholders of the…
Weekend Reading
A collection of articles to keep you company this weekend: 1. Business lessons from the unending buzz of a beehive- Business Daily “All a bee does is in anticipation of the future. When a lucrative vein of nectar is found, the entire colony doesn’t rush to mine it…
Closing Bell – 3 August 2012
For a fifth day today the NSE 20 Share Index declined to lose 3.6 percent and close at 3,687.72 points from 3,825.08 points yesterday while the All Share Index gained 3 percent to close at 85.40 points from 82.98 points yesterday. Source: FILE HIGHEST…
NBK Customers Profit from High Interest Rates
National Bank of Kenya customers are profiting from Kenya’s volatile economy. According to the Bank’s Managing Director, Reuben Marambii, customers have been getting higher interest rates on their deposits due to inflation. Loans and advances from the company have therefore declined owing to the high cost of lending…
Bamburi Half Year Profit Falls 13% Despite Growth in Turnover
Bamburi Cement has posted a 13 percent decline in pre-tax profit to 3.7 billion shillings for the six months ended June this year down from 4.2 billion shillings last year despite a 17 percent growth in revenue. The largest manufacturer of cement in East Africa…
Ministry Calls for Contractors for KES 12 Billion Dam
The Ministry of Water and Irrigation has issued an Invitation for Prequalification (IFP) yesterday for developers to carry out operations along the Thiba River. A loan from the Japan International Cooperation Agency (JICA) will be to fund the venture which will improve agricultural output in the region.
Get Your Blackberry Queries Answered
Airtel Kenya, through its twitter handle has posted a public invitation to a Blackberry clinic to be held from 3rd August to 5th August at Airtel’s shops in Sarit Center and Westgate. Members of the public will have their Blackberry queries answered plus they…
Forex Trail – 3 August 2012
Below is a summary of the Kenya Shilling’s performance against major foreign currencies this week: Performance of the Kenya Shilling against major foreign currencies this week Data from the Central Bank of Kenya shows that the shilling has remained stable against foreign currencies…
Jobs and Corruption Top Election Issues for Kenyans
According to a Gallup public opinion poll released on Thursday, Kenyans see unemployment and corruption as the top issues that the government should address in the next 12 months. The survey, which was conducted in April, indicates that messages of job creation and curbing corruption will most likely…
Insanely Expensive Stuff: The KES 2.1 Million Cheeseburger Bed
At USD 25,000, approximately KES 2,106,265, the cheeseburger look-a-like be is definitely not be an ordinary bed. As duvetland reported, demand for this type of bed is high, and its currently available in some countries around the world. The cheeseburger bed is round…
Shoplifters Causing Retailers Huge Losses
Local retailers have sounded an alarm over increased cases of operational losses occasioned by shoplifting and general theft. The losses technically referred to as shrinkage in retail trade parlance is rising by the day due to what industry players fear could be a case of an emerging organised pilferage ring…
Bottlers Merger May Result to Job Loss
The proposed merger between Kisii Bottlers, Mount Kenya Bottlers and Rift Valley Bottlers may result in job losses, given that some functions, such as procurement, will have to be shared. Currently, each of these three companies has employed 120 workers on average. Hundreds of others also benefit from short-term contracting…
Stocks Watch
At today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters: Total Kenya – The petroleum marketer’s share has been one of the biggest gainers at the NSE for the past two days, gaining 8.75 percent since Wednesday to trade…
Coin Shortage Creates Booming Business
Slum water vendors, hawkers, beggars, sweet sellers and public toilet cashiers are cashing in on the ongoing coin shortage, reports the Daily Nation. As retailers look for ways of guaranteeing their supply of coins, they are now forced to buy coins from hawkers, slum water vendors,…
British-American Post Billion Shilling Profit
British-American Investments made a pre-tax profit of 1.8 billion shillings in the six months to June this year up from a loss of 109.6 million shillings in the same period last year. This ends the company’s loss making trend experienced in the latter part of last year.
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