Stocks Watch
The NSE 20-share closed last week at 3,571.20 points, 16.74 points up from Friday’s. The NSE all-share index closed at 77.20 points, up 0.48 points. These gains follow the trend set last week where both indices consistently gained over the entire course of the week. The shares to watch today…
How a Pyramid Scheme Works
Yesterday one of the dailies ran the headline “Investors lose KES 100 million in fresh pyramid-like scandal.” In brief the story is about hundreds of investors who have lost more than KES 100 million in a scheme ran by fraudulent agents working from within a Nairobi-based insurer’s offices. The…
Kenyans Shift To Non-Malt Alcoholic Drinks Denies the Tax-man His Cut
Volumes of tax-free non-malt containerized brands grow by 60% over the past nine months, hurting KRA'S performance in domestic excise duty
Forex Trail
Below is a table showing how the Kenya shilling fared against other major foreign currencies yesterday compared to last Friday: CURRENCY DATE US Dollar Sterling Pound Euro SA Rand KESUSHS KESTSHS KESRWF Friday 20th April 2012 83.1969 133.6227 109.3992 10.5841 30.1695 19.0513…
The Risk of Joining a Pyramid Scheme
Pyramid schemes have been around for at least a century and while a few people have benefited from them, majority have lost significant amounts of money to them. The concept behind pyramid schemes is simple and easy to identify. However, they are often presented…
Do Tax Cuts Pay Off?
Several policies, mostly concerning interventions to address the cost of living through reduction of duties and taxes have negatively affected revenue collection. When Kenyans complained of high petroleum prices, the government responded through removing excise taxes on kerosene and reduction of excise duty on diesel. When…
What Capping of Interest Rates Could Have Done
The Finance Bill 2011/2012 was passed in parliament on Thursday after long debates and a troubled life on the shelves of the house. The bill was passed without the amendments proposed to it of having interest rates on loans capped and deposits interest made at a base rate…
Pyramid Scheme Smokes up Investors Cash
Policy holders at CIC Insurance have lost their investment to the tunes of Shs 100m to a suspected fraudulent scheme connected to agents at the firm. The affected were introduced to ‘Mavuno’, a unit-linked investment plan that was allegedly supposed to yield returns of between 7% and 10% a month.
Kenya Shilling Holds Steady, Expected to Weaken
According to Reuters, the Kenyan shilling has held steady against the dollar on Monday. The shilling may however weaken as the end of the month approaches as imports could put downward pressure on the shilling. The main imports expected are oil and oil products. What does this mean to…
Closing Bell 23/04/2012
Gainers Price Change Crown Berger Limited 27.50 8.91% KenGen Limited 8.45 5.63% Scangroup Limited 51.50 5.10% East Africa Cables Limited 11.30 3.67% AccessKenya Group Limited 4.45 3.49% Losers Price Change Pan Africa Insurace Holdings Limited 28.00 5.88% Kapchorua Tea Company Limited 115.00 4.96% Eveready East Africa Limited 1.65 2.94%…
Kenya-Re Profits up 24%
KenyaRe's profits are up 24%
StanChart: Charting Their Progress
Standard Chartered Bank is one of the world’s major banks, having been listed on the London, Hong Kong and Mumbai stock exchanges as well as our very own Nairobi Securities Exchange. The bank opened its Kenyan branches in 1911 as the first foreign-owned bank and a hundred years…
Number of Shares Traded Increases by 35.43%
According to the weekly bulletin released by the Central Bank of Kenya (CBK) the number of shares traded at the Nairobi Stock Exchange (NSE) from 16th April to 20th April 2012 stood at 159.92 million shares. This is 41.84 million shares more than the 118.08 million traded in…
KRA Now Collecting Taxes 'Legally'
The Kenya Revenue Authority will now be collecting taxes ‘legally’ after the Finance Bill 2011/2011 was passed. The taxman had been collecting taxes illegally since January of 2012 to date. KRA was collecting taxes in the months preceding January based on the Provisional Collection of Taxes and Duties Act.The provision allows…
No Capping Interest Rates, House Decides
Loan borrowers will have to put up with the high interest rates main stream banks charge them on loans after parliament shot down proposed amendments to the finance bill 2011/2012. The Jakoyo Midiwo sponsored amendments to have bank interest capped and have a base on the interest given…
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