A Billion Shillings in One Year's Salary
According to Yahoo! the CEO of Goldman Sachs Mr. Lloyd Blankfein received a pay package of $16.2 million in 2011 despite a sharp decline in profits and share price during the year. Blankfein’s pay boost includes stock awards from previous years that vested in 2011, and therefore does…
Petrol Stations Run Dry
Most fueling stations in Nairobi supposedly ran dry last night as most motorists rushed to fill up their tanks before the new fuel prices take effect by midnight. Most motorists had to drive long distances in search of this precious commodity. The question that comes to…
Fuel Prices Shoot Up
In a statement released by the Energy Regulatory Commission, the pump price of Super petrol in Nairobi has increased by KES 6.81 to KES 118.50 per litre. Diesel prices increased by KES 3.67 to KES 108.8 and Kerosene by KES 2.81 to KES 86.28 The ERC attrubuted the new prices to…
The Energy of Money
Here is a thought for your Sunday, on the energy of money. Try this exercise. Take out a banknote and hold it for a moment. Imagine everywhere this banknote has been, and everywhere it will be going. Think about the people who have held it, and what they have used…
Closing Bell 13/04/2012
Gainers Price Change East African Portland Cement Company Limited 60.00 7.14% Eveready East Africa 1.60 6.67% TPS (Serena) LImited 48.75 5.98% Rea Vipingo Plantations Limited 15.90 5.65% Standard Group Limited 22.75 3.41% Losers Price Change Uchumi Supermarket Limited 13.90 5.12% British American Investments Company…
Money Talk Friday – The Mob Psychology in Spending HELB loans
Loans are never a welcome thing, especially when it comes to repaying them. I want to talk to those in campus right now, specifically public universities. Those who access HELB as it is famously known. It is a loan from The Higher Education Loans Board. Let me remind…
Fraud Cases Increase at the NSE
According to the Capital Markets Authority (CMA), the Capital Market Fraud investigation Unit (CMFIU) reported having handled 460 cases of economic and cyber crimes compared to 390 cases the previous year. This is a 20% rise in fraud cases even as the anti-fraud unit continued to make recoveries of…
The Fear of Missing Out (FOMO)
When I was in primary school, I had a serious case of FOMO. Coming from a strictly religious home, certain programs such as WWF were strictly prohibited in our house. I’d go to class and find all my classmates talking about a certain wrestler on WWF that they…
You Wont Get a Bank Loan if you Owe HELB.
Former, current and new beneficiaries could miss out on bank loans according to new regulations by the higher education lender Higher Education Loans Board (HELB) The lender has partnered with the Credit Reference Bureau(CRB) in its bid to recover loans owed by former beneficiaries. The bureau capitalises on information sharing…
Making the Most Out Of Your Current Income
Majority of Kenyans live below the poverty line, earning an amount that is too little to make much from. If this is the case, can people in this bracket save money? If those earning above average find it hard to get out of debt and build…
The Kshs. 50 Billion Syndicated Loan Explained
According to The Business Daily, Treasury has concluded negotiations for a $600 million dollar, Kshs. 50 billion loan from a group of international banks. The paper reported that Mr. Joseph Kinyua the Finance PS said that Citibank and Standard Bank are among the financiers. The funds will…
Stocks Watch
As at the close of business yesterday the NSE 20-share index had climbed, for the second day in a row, by 0.8% to close at 3,454.34 points, the highest since March 9th this year. The Co-operative Bank of Kenya share rose during the day by as much as 2%…
Price of Cooking Gas to Drop
Cooking gas could soon be affordable. This will be possible if Parliament adopts proposed amendments to the VAT Act by the Treasury. This would effectively see Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG) could be waived. Finance Minister Njeru Githae said the government’s policies have promoted the consumption of LPG…
Kenya’s Money in the Past (Part II)
Njenga Karume was politician & businessman who grew up on a Delamere farm and in his time he became one of the richest indigenous business people before independence, and later a reluctant, but effective leader of a controversial organization (GEMA), l...
How to Quickly Tell If Your Banknote Is Genuine
There are various ways of determining if a Kenyan Shilling note is genuine or fake. Some crumple the note and check how fast it would take to stretch back to its original form. Others flick the note to feel how hard it is while others scratch the presidents’ portrait to…
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