KQ needs Sh100bn bailout, says investment bank analyst

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…

Dial A for Aid – Iraq’s new humanitarian hotline

By: Chloe Cornish ERBIL: An angry man with a moustache gesticulates with a mobile phone. He is one of 15 mukhtars (community leaders) in a meeting with UN staff at…

Mombasa tycoon’s widow seized for evicting co-wife in fight for Sh5bn property

By: GALGALO BOCHA The widow of a slain Mombasa tycoon was arrested for allegedly using goons to evict her co-wife from the family home in Nyali, Mombasa. Mrs Regine Butt,…

Kenya rated top market for dollar deals in region

The Kenyan market has one of the most stable prices in eastern and southern Africa with the dollar value of items increasing by small margins compared to peers in the…

Equitel eats into Airtel’s mobile customer base

Airtel Kenya lost 600,000 mobile subscribers in the three months to March while new entrant Equitel gained nearly the same number of customers, a quarterly report released on Monday by…

NSE 20 Share Index falls below 4,400 points support

Blue chip losses weighed down the Nairobi Securities Exchange’s main NSE 20 Share Index as it dropped by 49 points to 4,354 — its lowest level since the first week…

KENYANS IN THE DIASPORA TO HOST INVESTMENT CONFERENCE IN NAIROBI

NAIROBI, Aug 1 (NNN-KBC) — More than 100 organizations representing an estimated 100,000 Kenyans in the Diaspora have come together under an umbrella association (International Confederation of Kenyan Diaspora Organizations)…

Regional tax bodies unveil joint scheme to clear cargo

The tax bodies of the region have rolled out a scheme to consolidate gains from local Customs incentives in order to increase import revenues and minimise trade bottlenecks faced by…

EA bankers are now ready to help, not hinder, entrepreneurs

The just concluded Global Entrepreneurship Summit (GES 2015) that ended in Nairobi last weekend has put Kenya, and by extension the East African region, at the centre of the global…

Strong Demand Fails to Lift Tea Prices at Mombasa Auction

There was a slight decline in average price and quantity of tea at Mombasa weekly auction, despite a strong demand from traders.
The price per kilo of tea was $3.12(Sh318.10) from $3.14(Sh320.1) recorded last week.
Quantity of tea traded dropped ma…

Traders Want Order to Stop Property Seizure

Eight businessmen in Eastleigh have sued the government over seizure of their properties and freezing of their accounts for failure to pay tax.
The eight, together with Eastleigh Mall, want the court to grant temporary orders stopping state official…

CS Admits Flaws in Tender for Fertiliser

Acting Agriculture CS Adan Mohammed yesterday admitted to errors in the three-year contract for Sh6 billion import of subsidised fertiliser.
He appeared before the National Assembly Committee on Agriculture.
He was responding to criticisms by commi…

Kenyan Rotarians Seek to Break Record in Kilimanjaro Climb

A team of Kenyan Rotarians is attempting to break the Guinness World Record in a Kilimanjaro climb initiative.
The dormant volcanic mountain in Tanzania, is Africa’s highest mountain and highest free-standing mountain in the world, with a height of …

KRA Phases Out Manual Tax Filing

Kenya Revenue Authority will not accept any manual filing of returns starting tomorrow, directing taxpayers to use the iTax system instead.
In a statement, KRA said all VAT, PAYE and income tax returns should be filed online.
“It is therefore impor…