BusinessDailyAfrica (196)

Supreme Court says IEBC failures led to poll nullification

IEBC's failure to meet constitutional and legal  requirements led to nullification of the August 8 presidential election, the Supreme Court said on Wednesday. 

NBK executive charged with Sh313m loan fraud

Dennis Oduor Chumbe was Wednesday charged with the intention to steal Sh313.6 million through fake loans.

Kenyan scholar picked as chancellor of UK specialist arts university

A Kenyan scholar has been appointed the chancellor of United Kingdom's first specialist arts university.

Flamingoes flee as Lake Nakuru water level rises

Flamingoes, the main attraction at Lake Nakuru National Park, have fled due to increased water levels.

Finnish firm eyes weather equipment deals for new airports

Kenya's status as a budding aviation hub is behind Finnish weather tracker Vaisala's decision to open an office in Nairobi, the company has said.

Liquid offers free Internet for Ngong Road centre

Liquid Telecom Kenya will provide up to 300 co-workers with free, high-speed fibre Internet connectivity at the Nairobi Garage.

Private sector chiefs lobby MPs to pass friendly laws

Private sector executives have petitioned Parliament to amend a number of laws that have continued to hinder business transactions in the country and the region.

Former Home Afrika CEO claims Sh36m over sacking

Home Afrika faces a Sh36.3 million compensation claim, equivalent to more than half of its gross profit, from former CEO Njoroge Ng'ang'a who has sued for wrongful dismissal.

French lender hires StanChart manager to head Kenya office

Société Générale has hired former Standard Chartered Bank senior manager George Mutua to head operations of its newly licensed Kenya representative office.

RVR staff in court to stop transfer without union nod

Rift Valley Railways workers have asked the High Court to stop their transfer back to Kenya Railways Corporation.

Regulator explains new costly petrol pump tariff

ERC has justified the inclusion of a cost factor in petrol prices tied to density of imported cargo, saying it has enabled Kenya to buy from different sources and enjoy competitive prices.

CDF committees to be re-constituted

All the 290 constituencies have been directed to constitute afresh the Constituencies Development Fund committees that approve projects.

Court to give direction on Justice Njoki Ndung'u misconduct case

The High Court is set to give directions on whether Supreme Court judge Njoki Ndung'u will be put on the dock to defend herself on allegations of gross misconduct.

Taxpayers to fund MPs' spouses night stay at 5-star hotels

Spouses of MPs will be treated to a sumptuous dinner Friday and a night-out at five-star facilities like Intercontinental Hotel and Sarova Stanley at taxpayers' expense.

Current account deficit seen narrowing to 5.8pc by Dec

Reduced imports of food and supplies for the nearly completed standard gauge railway project will help narrow the country's current account deficit to about 5.8 per cent of GDP.

SMEs face credit squeeze as banks adopt new tough global standards

Small and medium-sized enterprises face a credit squeeze when banks adopt tougher standards of scrutinising borrowers, analysts said.

Trade hurdle in Turkana over ungazetted border

Trading between communities living on the Kenya and Uganda border at Lokiriama hit a snag after officials from Kenya's State Department of East Africa Community Integration said that the frontier was yet to be gazetted.

Nyongo's new assembly plan meets resistance from locals

Residents associations in Kisumu County have opposed Governor Anyang' Nyong'o's call for construction of a new assembly.

Kenya must assess the full impact of Lamu coal plant

China is transforming its sources of energy domestically in a bid to reverse decades of environmental pollution.

CMA chief to deputise at global committee

Paul Muthaura has been elected vice-chairman of a key committee of the International Organisation of Securities Commissions.

CBK vague on roll out of the new currency

The central bank remains unclear on when it will roll out the new-look currency as stipulated in law.

Tea price at Mombasa auction hits three-month high

Tea prices at the Mombasa auction have hit a three month high in the latest sale driven by high demand from buyers.

Traders, makers of plastic bags denied the export option

Traders and manufacturers of plastic bags have been dealt another blow after the government rejected their appeal to continue servicing export markets.

Half of Kenya's medical insurers post 2016 losses

More than half of Kenya's 32 medical insurance firms recorded losses totalling Sh621.64 million last year.

Mounting debt, MCA loans worry new North Rift County bosses

New County bosses face daunting task of recovery of millions advanced to MCAs and Executives

Museveni thanks North Korea in UN speech

President Museveni says Uganda is complying with United Nations sanctions against North Korea

Shilling stable, all eyes on repeat poll

At 1049 GMT, commercial banks quoted the shilling at 103.25/45 per dollar, unchanged from Tuesday's close.

Foreign direct investment

Increased investment in infrastructure including road, railway, mining and real estate sectors have seen a rise in foreign direct investments in Kenya in recent years.

Life expectancy has been on the rise

Life expectancy in Kenya has been on the rise in the recent past.

Mtongwe ferry services suspended for the second time in a month

The frequent suspensions of the services have caused an outcry from commuters and traders.

Obama to earn Sh41 million for speaking engagement next week

He will be paid the amount for an appearance before a who's who of the US health care industry

CBK bullish on economy in spite of repeat election jitters

Favourable weather and investment in infrastructure development seen boosting growth

Brookside tops list of firms that Nakumatt owes billions

Papers filed in court show creditors behind spirited battle to declare Kenya's biggest retailer insolvent

Bonus shock as drought cuts tea earnings by Sh24bn

KTDA blames decline on erratic weather that slashed output 20pc

Tuskys, Nakumatt to retain current family shareholding after merger

Companies set sights on place of liabilities before the eventual tie-up

Big companies top bank loan defaulters list

Large companies have become the biggest bank loan defaulters that also contributed the most to last month's increase in the stock of non-performing loans.

Maraga accuses Boinnet of ignoring security pleas

Chief Justice David Maraga has accused Inspector-General of Police Joseph Boinnet of ignoring calls to beef up the security of judges and courts.

Legislators petition PSC to hire for them 349 legal researchers

MPs have petitioned the Parliamentary Service Commission to hire researchers with legal background to assist them in the formulation of Bills and motions.

Samboja says court has no power to probe integrity case

Taita Taveta Governor Granton Samboja says the election court does not have jurisdiction to investigate integrity issues against him amid questions over the authenticity of his degree.

Case of fired KAA guard in Matiang'i row stays in Nyeri

The Labour court has refused to transfer a case in which an airport worker was sacked for mistreating' Education CS Fred Matiang'i to Nairobi.

Pharmaceutical firm to import Sh3.1bn HIV drugs from US

Omaera Pharmaceuticals plans to spend Sh3.1 billion in the next three years for purchase and exclusive sale of the cancer and HIV drug, Lodonal, across East Africa.

Kenya Breweries pays sorghum, barley farmers Sh2.2bn

Kenya Breweries last year paid Sh2.2 billion to 30,000 sorghum and barley farmers, the beer maker has announced.

South African bank ranks Kenya sixth on investment chart

Rand Merchant Bank has ranked Kenya Africa's sixth-best investment destination, a fall from last year's standing when it was placed at fifth position.

Nestle eyes lower end market with Sh10 Milo

Nestle is targeting the lower end of the market with the introduction of a Sh10 Milo sachet.

Nairobi jobs tech firm gets Sh103m

Shortlist has received Sh103 million seed funding from a group of US, Indian and Kenyan investors.

Helsinki bourse-listed weather tracker opens Nairobi office

Vaisala is Wednesday set to officially launch its operations in the country.

Full judgment annulling presidential poll out Wednesday

The Supreme Court will Wednesday issue the full judgment on the petition that led to the nullification of the August 8 presidential election results.

NTSA plans monthly fines on uncollected logbooks

Kenyans who fail to collect their motor vehicle logbooks on time will now be fined Sh500 per month.

200 youth on the radar of police over terrorism links

NIS is monitoring the activities of 200 youth in Mombasa who are suspected to have returned from Somalia after being radicalised.

Plan for fuel hedge fund shelved until next year

Kenya's plan to set up a petroleum fund that will hedge consumer fuel prices against global changes has been shelved until end of next year.