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Three exploration companies strike more oil in Turkana
The firm says the data from these appraisal wells will be incorporated into the ongoing field development planning activities/FILE NAIROBI, Kenya, Apr 26 – Africa Oil Corporation and two partners have...
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CBK licences Dubai Islamic Bank
DIB is a fully owned subsidiary of Dubai Islamic Bank PJSC (DIB PJSC) of the United Arab Emirates (UAE)/COURTESY NAIROBI, Kenya, Apr 28 – The Central Bank of Kenya (CBK) has licensed Dubai Islamic Bank...
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Uber Kenya now accepting low cost, older cars, even Toyota Vitz
All types of cars will be accepted on the low-cost product with Uber recommending low cost, fuel efficient cars that include a Toyota Vitz or 800 -1200cc car models. NAIROBI, Kenya, Apr 28 –...
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Drought pushes inflation to a five-year high to reach 11.48pc
Data from the Kenya National Bureau of Statistics indicate that the year on year food inflation hit 20.98 percent in the month under review/FILE NAIROBI, Kenya, Apr 28 – Prevailing drought in the...
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Going to work abroad? Use approved agencies – Uhuru
“We are well aware, as a government, these workers’ rights are sometimes abused when working abroad. Indeed, there have been distressing incidents when Kenyan workers have been exploited and abused,”...
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Southern Engineering Company gets Sh1.7mn Kisumu Oil Jetty tender
The local company was awarded the contract after a competitive process that involved five other local and foreign bidders. Photo/FILE.NAIROBI, Kenya, May 3 – Kenya Pipeline Company (KPC) has awarded...
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Acquisition of Chase Bank in top gear
CBK invited investors to present an initial Expression of Interest (EOI) to take an equity interest in Chase Bank. Photo/FILE. NAIROBI, Kenya, May 3 – The quest for getting a suitable buyer for Chase...
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Kenya’s FDI projects declined 55pc to Sh116bn last year
Kenya accounted for 5.9 per cent of the projects, 1.2 percent of the FDI amount that amounted to Sh116 billion and 1.5 per cent of the jobs created/FILE NAIROBI, Kenya, May 3 – Kenya’s 2016 Foreign...
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Loans worth Sh5bn recovered from collapsed Imperial Bank borrowers
The bank’s receivership was to end on April 13 this year, after which KDIC would have to confirm to CBK whether the bank can be revived or should be liquidated/FILE NAIROBI, Kenya, May 4 – NIC Bank has...
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Exchange Traded Funds gain traction in Kenya
This follows the listing of the first ETF Barclays New Gold in East Africa/FILE NAIROBI, Kenya, May 4 – Kenya’s asset managers are showing a keen interest in the just introduced Exchange Traded Funds...
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EABL lists second bond on the bourse
EABL’s Group Managing Director, Andrew Cowan says the funds will be used to restructure the balance sheet which entails repayment of short term loans/FILE NAIROBI, Kenya, May 8 – The East African...
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Catalyst acquires Kenya’s Britania brand
Through a newly established firm, Britania Foods Limited, Catalyst will inject working capital as well as business strategy support in the institutionalization of the business/COURTESY NAIROBI, Kenya,...
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Nakumatt to close Haile Selassie branch in restructuring
The accelerated restructuring phase will see the retailer actively manage and reduce its total cost base by up to Sh1.5 billion/FILE NAIROBI, Kenya, May 8 – Regional retailer Nakumatt Holdings has...
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Tourism numbers dip slightly in February compared to January
Latest data from the Kenya National Bureau of Statistics indicates that the total number of visitors arriving through the Jomo Kenyatta and Moi International Airports decreased to 72,730 in February...
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SportPesa expands operations to Tanzania
The Government of the Federal Republic of Tanzania welcomed the move and pledged its full support to the firm/CFM BUSINESS NAIROBI, Kenya, May 9 – Kenya’s leading betting firm SportPesa has expanded...
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Safaricom profits increase 18pc to Sh45bn
Safaricom CEO Collymore, CFO and Chair Munene Ng’ang’a/MOSES MUOKI NAIROBI, Kenya, May 10 – Safaricom has posted a Sh45.1 billion net profit in the year ended March 31, 2017 representing an 18.3 per...
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Collymore gets two more years at Safaricom
Safaricom Chairman Nicholas Ng’ang’a says the board is confident that Collymore will continue to grow shareholders’ wealth and take the company to greater heights/MOSES MUOKI NAIROBI, Kenya, May 10 –...
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SBM Holdings to inject Sh2.6bn in Fidelity Commercial Bank
The firm says the funds will be used as capital in its first year of operations/FILE NAIROBI, Kenya, May 11 – SBM Holdings has planned to inject Sh2.6 billion in Fidelity Commercial Bank after...
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The Hub Karen to install 450Kwz power plant
The move is intended to cut the mall’s carbon dioxide emissions by 525.18 tonnes per year/FILE NAIROBI, Kenya, May 11- The Hub Karen Mall is set to install a 450 Kilowatt solar electric power...
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Energy deals worth Sh38.7bn pledged during President Kenyatta’s UK visit
Two UK firms announced investment plans in Kenya’s energy sector worth Sh36 billion while one Kenyan firm plans to invest Sh2.5 billion/FILE LONDON, United Kingdom, May 12 – About Sh38.7 billion of...
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