Barclays starts trading at NSE with its revived investment unit
Barclays starts trading at NSE with its revived investment unit Barclays Bank has re-activated its investment banking business on growing demand for brokerage services especially from foreign investors. The Barclays Financial Services will offer a whole suit of services such as advisory on mergers and acquisitions,…
Former Uchumi top managers on the spot over Sh1bn cover-up
Former Uchumi top managers on the spot over Sh1bn cover-up The revelation that Uchumi Supermarkets manipulated financial statements to the tune of Sh1.04 billion has put former senior managers including ex-chief executive Jonathan Ciano on the spot. Uchumi has announced that the former management had…
High interest on bonds to hit bank, insurers’ earnings
High interest on bonds to hit bank, insurers’ earnings Banks and insurance companies’ earnings are expected to take a hit from unrealised losses arising from the recent hike in interest rates for Treasury bills and bonds. Interest rates of the bills have shot to 20.6 per…
TransCentury to embark on fundraising
TransCentury to embark on fundraising NSE-listed Investment firm TransCentury plans to raise funds to finance its projects in the next six months, the company’s board has announced. The firm wants cash to refinance the Sh5.8billion (USD 56.8m) convertible bonds that are due on March 25 next…
Closing Bell: Atlas Development and Support Services Ltd Top Gainer as Nairobi Securities Exchange Limited Declines
Atlas Development and Support Services Ltd Top Gainer as Nairobi Securities Exchange Limited Declines Atlas Development and Support Services Ltd (ADSS) was the top gainer of the day. It gained 9.86% to close at KES 3.90 which was a KES 0.35 gain in share price. Nairobi Securities Exchange Limited (NSE)…
Bidco acquires 78 acres of Tatu City land for expansion
Bidco acquires 78 acres of Tatu City land for expansion Consumer goods manufacturer Bidco has acquired a 78-acre piece of land at Tatu City — where it expects to set up some of its factories and a warehouse. The Thika-based company is owned by the…
Shilling feels the pressure as trade deficit rises 59pc
Shilling feels the pressure as trade deficit rises 59pc KNBS reported the current account deficit, stood at Sh101.5 billion, up from Sh63.7 billion recorded in the same quarter last year. The gap between Kenya’s imports and exports widened a massive 59 per cent or Sh37.7 billion…
Closing Bell: Kapchorua Tea Top Gainers as Crown Paints Declines
Kapchorua Tea Top Gainers as Crown Paints Declines Kapchorua Tea Company (KAPC) was the top gainer of the day. It gained 9.66% to close the day at KES 159.00 which was a KES 14.00 gain in share price. Crown Paints (BERG) was the top loser of the day. It had…
Closing Bell: Mumias Sugar Top Gainer as Kenya Airways Declines
Closing Bell: Mumias Sugar Top Gainer as Kenya Airways Declines Mumias Sugar Company (MSC) was the top gainer at the NSE. It gained 8.11% to close the day at KES 2.00 which was a KES 0.15 gain in share price. Kenya Airways (KQ) was…
Exchange rate slide pushes shilling past 95 units mark
Exchange rate slide pushes shilling past 95 units mark The shilling on Tuesday crossed the 95 units to the US dollar level, continuing a losing streak with forex traders predicting a further drop to 98 units to the dollar by end of year. A weaker currency and its effect…
1
