Closing Bell – 19 June 2012
Gainers Price (KES) Change (%) Kenya Reinsurance Corporation Limited 10.95 4.78 Standard Chartered Bank Limited 191.00 4.37 EA Cables Limited 10.80 4.35 Pan-Africa Insurance Holdings Limited 40.75 3.16 Jubilee…
Petrocity to Build Oil Refinery in Konza
Petroleum marketer Petrocity Enterprises Ltd is set to build a new oil refinery in the country at Konza along the Nairobi-Mombasa highway. The new refinery is expected to bring relief to the economy by increasing supply of refined petroleum products on the market to complement the Kenya…
Is KRA Justified to Collect Property Tax from Landlords?
The Consumer Federation of Kenya (COFED), Central Organization of Trade Unions (COTU) and Institute of Surveyors of Kenya (ISK) are seeking to stop Kenya Revenue Authority (KRA) from collecting property taxes from landlords as it had been stated in the Budget Speech…
Centum Profits Down by 63.9%
Today Centum Investment Company held an investor’s briefing where the company outlined the financial results for the period ended 31st March 2012. The company also outlined the projects and targets they intend to achieve in the subsequent period. Asset Growth The company’s mission is to create real tangible wealth…
Trading Activity Rises at the NSE
Trading has picked up at the NSE with Safaricom racing to the top of the movers list at over 10M shares so far. Cooperative Bank, Equity Bank and KCB have also been quite active thus far in the day.
Pesa Portfolio – 19 June 2012
With only Uchumi losing, down 5 cents yesterday, the rest of the shares in the Pesa Portfolio appreciated in value. The portfolio appreciated 1% as of yesterday's closing bell.
Are the Rich Guilty?
Yesterday, a pilot had to crash land his helicopter on a farm in Mathaithi, near Karatina due to bad weather. The public did not react much to his lucky landing, but the fact that he was flying his kids to Banda School in Nairobi. Flying, not driving. Word is that…
VAT Bill Will Raise Prices of Essential Goods
A statement by Finance minister Njeru Githae in the recently presented budget statement reads: As promised by my predecessor last year, my ministry has now finalized the review of the VAT law to align it to the Constitution by making it simpler and modern, based on international best practice. After extensive consultations…
Demystifying Written Wills
For the longest time, leaving a last will and testament has been regard as a complex affair that is reserved for the wealthy. In essence, provided you have some property to you name, you should write a will. It is also important to note that writing a will…
NSE Begins Week with Low Trading
The Nairobi Securities Exchange opened the week sluggishly with the most traded counter Mumias Sugar Company moving just 2.325 million shares.
Stocks Watch – 19 June 2012
At the close of trading at the NSE yesterday, the NSE 20-share index stood at 3,682.23 while the All-share index stood at 79.83. The total number of shares traded stood at 8.159 million in 918 deals. The equity turnover stood at KES 105.234 million. Yesterday, the NSE had subdued…
Forex Trail – 19 June 2012
The Kenya Shilling yesterday gained against the dollar, up 0.29% to trade at a mean of KES 84.8847 per dollar. The Kenya Shilling however slipped against the Euro, the SA Rand, the Uganda Shilling and the Queen's coin.
Mumias the Biggest Mover at NSE
Mumias Sugar had 2.325 million shares traded yesterday to take the top-mover slot. The share price has risen 40% in the last 3 months.
Landlords Warned Against Rent Increment
The Consumer Federation of Kenya is seeking to stop the KRA from collecting property taxes from landlords as it had been proposed in the Budget speech read by Njeru Githae last week. This move to charge tax on rental income is anticipated to increase the household expenditure, with landlords pushing…
Closing Bell – 18 June 2012
In what was a low trading day at the Nairobi Securities Exchange, there were 2.325 million Mumias Sugar shares traded. The share was the kmost active. Safaricom came second with 1.823 million shares traded while Equity Bank had 1.387 million shares traded.
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