Low Ranking Civil Servants Get Pay Rise
133,322 mainstream civil servants and National Youth Service officers get a pay hike after parliament passed Ksh 6.8 billion which was factored in the 2012/2013 budget. The pay increment is the last instalment promised to workers in 2007. As sourced from Nation Media, civil servants in the job…
Mobile Interconnection Rates Scheduled For a Cut
Ministry of Information Permanent Secretary Bitange Ndemo has said that mobile interconnection rates will be cut from Ksh2.21 to Ksh1.60 per minute. The Communication Commission of Kenya meets in two weeks time to lower this rates. According to a July 2011 report by the Consumer Federation…
Ketraco's Bid To Supply Electricity Could Cut Tariffs
Kenya Electricity Transmission Company (Ketraco) has applied to Energy Regulatory Commission for a licence to transmit and supply electrical energy in bulk throughout the country through its transmission lines. This open access power transmission system is part of the Government’s plan to lower electricity…
2,900 Kenyans to Benefit from Temporary IEBC Jobs
2,900 unemployed Kenyans will benefit from IEBC’s voter registration jobs. The Independent Electoral and Bounderies Commission Announced 2,900 vacancies on July 16th 2012 for voter registration clerks, as the country gears to the March 4th 2013 elections. IEBC will require 2 biometric voter registration(BVR) clerks in each 0f the 1450 county…
DTB Confident About 2012 Rights Issue
Diamond Trust Bank (DTB) has expressed confidence as it offloads 11.81 million shares starting today. This will be the company’s third rights issue since 2006. “The Board is confident that the shareholders will wholeheartedly support the 2012 rights issue,” said the bank’s chairman, Abdul Samji. Both of the previous…
Factors that Bore An Influence on the ERC Decision to Lower Prices
The latest fuel price review saw the energy regulator (ERC) lower fuel prices by margins never seen before in ERC’s history of regulating fuel prices. The price of super petrol for instance dropped by Ksh 9.21, from Ksh 117.67 to Ksh 108.46, while that of kerosene dropped by…
PesaPortfolio – 17 July 2012
Below is the value of the PesaPortfolio at the close of NSE trading on the 16th July 2012: The PesaPortfolio at the end of NSE trading on the 16th July 2012 At the close of trading yesterday, our PesaPortfolio lost Ksh 995.000 to stand…
How Much Extra Mileage Will You Enjoy?
The latest Energy Regulatory Commission (ERC) fuel price review saw the price of super petrol drop by KES 9.21, from Ksh 117.67 to Ksh 108.46 and diesel dropped by Ksh 8.01, from Ksh 105.51 to Ksh 97.50. This means, if your car has a 50 litre capacity…
Stocks Watch
At today’s NSE trading, we will be closely observing the following share counters: Jubilee Insurance Holdings – One day after East Africa’s largest insurance group had its biggest one day drop, the Jubilee share was yesterday a top gainer, rising 2.41 percent to Ksh 170 from Ksh…
8 Things You should know this Morning
Here is a couple of things you are waking up to this morning 1. Co-op joins other banks in reducing interest rate Pesatalk 2.Analysts forecast drop in banks’ interest income Business Daily 3. The 10 Richest Women In Africa Ventures Africa 4. Commuters…
Uchumi Share Down Further on Profit Taking
Uchumi, the only Kenyan retailer listed on the NSE, closed yesterday nearly four shillings lower than the share’s price in late May on profit-taking and falling inflation which had earlier boosted investor demand in the share. “The counter has been hit a bit hard by profit-taking”…
Co-op Joins Other Banks in Reducing Interest Rate
Co-operative Bank of Kenya has joined other lenders on the market to reduce their base lending rate. Co-op Bank has announced it will reduce its base lending rates by 1.5%, the same margin Central Bank of Kenya reduced it base lending rate…
Closing Bell – 16 July 2012
At today’s NSE trading, the NSE 20-Share Index closed up 6.46 points (0.17 percent) to settle at 3,795.10 points from 3,788.64 points at the close of trading last week. Source: FILE HIGHEST VOLUMES For a fourth consecutive day at the NSE, Safaricom…
Access Kenya Connects 400 Buildings on Fibre
Internet and IT Solutions Provider AccessKenya Group has now connected 400 commercial buildings on its expanding metropolitan Fibre Network in Nairobi and Mombasa. This follows an expansion plan initiated at the onset of the year to meet rising demand for fibre connectivity among its corporate…
CIC Pours Ksh1 Billion into Real Estate
CIC Insurance plans to set up an office block in Nairobi with a contract sum worth over Ksh651 million. During last year’s Annual Group Meeting (AGM), the company made plans to increase their share capital to Ksh3 billion by creating 90 million ordinary shares. Over Ksh1 billion has…
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