Muthoka firm,Africa Flight Services, wins China Southern’s cargo business China Southern Airlines has hired a firm associated with billionaire businessman Peter Muthoka to handle its cargo business, making his company one of the biggest beneficiaries of the entry of the giant Asian carrier into Kenya. The airline is mainly targeting the…

KQ needs Sh100bn bailout, says Standard Investment Bank analysts National carrier Kenya Airways requires up to Sh100 billion new funding to stay afloat, Standard Investment Bank analysts have estimated. The amount is required in the form of fresh capital injection to reduce the carrier’s debt burden. KQ may also need…

KPA plans Sh50m cruise terminal at Mombasa port to woo tourists The terminal will provide a place for visitors to relax on arrival and before departure.Last year only two cruise ships docked at the port while this year only one cruise arrived in March.KPA in…

Agency set to watch more bank clients in terror cash hunt The Treasury has moved to boost the fight against terrorism financing by widening the scope of investigation to include most of the bank transactions. Treasury secretary, Henry Rotich has empowered the Financial Reporting Centre (FRC)…

Centum eyes Rea Vipingo land for property Centum Investments is crafting a master plan for its recently acquired Rea Vipingo land at the Coast that could see some of the farmland converted into real estate. The Vipingo land is also ideal for Centum’s plan to invest…

Why Britam restated its profit after declaration Investment firm Britam has said the recent downward revision of its 2014 profit by Sh342.3 million came out of an erroneous accounting of its ownership of a 21.4-acre piece of land in Ngong’.Bramer Properties Limited, a fully owned Britam…

Barclays win over KRA saves banks hefty tax demand Barclays Kenya has won a protracted legal battle with the Kenya Revenue Authority, which was demanding tax payments on fees remitted to Visa, Mastercard and American Express for electronic money transfer services […] NSE…

Home Afrika says 2014 profit to fall by a quarter Kenyan property developer Home Afrika Ltd said on Friday its 2014 profit would be at least 25 per cent lower than the previous year, hurt by a delay in developing its infrastructure projects during…