Business

Saudi Prince calls for boycotting Turkey imports

Saudi Prince Abdulrahman Bin Musa’ad has called for boycotting Turkish imports after Turkish President Erdogan announced that his country’s army in Qatar helps stabilise security in the Gulf states. According to The New Khalij, the prince retweeted Erdogan’s remarks and wrote: “Therefore, I call for a full popular boycott for the Turkish products in order

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Britain’s banks turn cyber sleuths to crack $100 billion mortgage mystery

Photo: Credit Reuters By Lawrence White LONDON (Reuters) – Does a cancelled gym membership spell financial disaster? That is the type of question British banks are asking as they try to work out whether borrowers owing some 75 billion pounds ($96 billion) in home loans will be good for it when a payment holiday, introduced

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Kenyan coffee risks losing global appeal on chemicals

Kenya’s coffee risks losing its top spot in the world market following its rejection in Japan and South Korea due to high levels of chemical contamination. The chemical levels of Ochratoxin have exceeded the allowable minimum, resulting in rejection at the two countries’ border points. The coffee, which is highly sought after by roasters for

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Report: Saudi gold production reaches record levels

Photo: Credit Pinterest Saudi Arabia’s total production of gold increased 158 per cent to 12,353 kilogrammes in 2019 compared to the 4,789 kilogrammes recorded in 2014, a new report revealed. According to the publication, the kingdom has also increased its total production of silver, reaching 5,588 kilogrammes in 2019 compared to 4,800 kilogrammes in 2014.

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Turkish president receives Libyan PM in Istanbul

Turkish President Recep Tayyip Erdogan received Libyan Prime Minister Fayez al-Sarraj in Istanbul on Sunday. The closed-door meeting at Vahdettin Mansion, which began at 7.00 p.m. local time (1600 GMT), lasted nearly an hour. Later, the two sides’ delegations also met for an hour and 30 minutes. During the meeting, Erdogan said Turkey would continue

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Ruto links Weston demolition to 2022 election intrigues

Photo: Credit /Business Daily Africa/Weston Hotel in Nairobi. Deputy President William Ruto has linked the court bid to demolish Weston Hotel to the 2022 Presidential Elections where he is fighting to replace President Uhuru Kenyatta. The hotel has filed fresh court papers arguing that the suit is a conspiracy between the Kenya Civil Aviation Authority

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Uhuru Kenyatta ends France visit, secures Sh18bn loans, grants

President Uhuru Kenyatta and French President Emmanuel Macron witness the signing of three bilateral agreements at Elysee Palace on October 1, 2020. Kenya has signed loan agreements worth Sh17.91 billion with France and the European Union (EU) as President Uhuru Kenyatta wraps up his State visit to that country. The parties signed four financing agreements

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A Biden victory could weigh on stock market’s winners

Democratic presidential candidate former Vice President Joe Biden arrives at United Food & Commercial Workers Union Local 951, Friday, Oct. 2, 2020, in Grand Rapids, Mich.. (AP Photo/Andrew Harnik) NEW YORK (Reuters) – Investors on Wall Street can add another layer of uncertainty to a market already unnerved by last month’s sell-off, stalled fiscal stimulus

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Rolls-Royce looks to raise £5bn to shore up balance sheet

Photo: Credit Reuters Technicians inspect a Rolls-Royce a car on the production line of the Rolls-Royce Goodwood factory, near Chichester, Britain, September 1, 2020. REUTERS/Peter Nicholls By Peggy Hollinger Rolls-Royce has announced plans to raise £2bn in a rescue rights issue, as well as drawing in government support for a new debt package of up

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Banks restructure Sh1.1 trillion loans on Covid cash woes

The Central Bank of Kenya (CBK) said lenders reviewed Sh849.9 billion of business loans in the period to August. Banks have restructured loans worth Sh1.12 trillion or 38 percent of the total loan book by end of August due to the coronavirus-induced economic hardships that have hurt the borrowers’ ability to repay. Personal and household

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