Business

Kenya’s export earnings hit Sh480bn on higher demand

Workers prepare flowers for export. Kenya’s exports receipts grew by six per cent to Sh479.7 billion in the nine months to September, defying the economic knocks of the Covid-19 pandemic, data by the Kenya National Bureau of Statistics (KNBS) shows. ”The strong earnings performance is attributable to foods and beverages exports, which accounted for 47

Read More

Brexit: UK and Canada agree ‘rollover’ deal to continue trading on existing EU terms

Boris Johnson meets Canadian Prime Minister Justin Trudeau at the 2019 G7 summit in Biarritz, France (PA) By Ashley Cowburn Businesses urge PM to redouble efforts on ‘single most critical trade agreement’ with European Union as negotiations go down to the wire The UK and Canada have agreed a “rollover” deal to continue trading under

Read More

Global markets lower after Wall Street falls on virus fears

A currency trader passes by screens showing foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Nov. 19, 2020. Asian stocks followed Wall Street lower on Thursday as anxiety about the economic fallout from rising coronavirus infections in the United States and Europe clashed

Read More

IMF Executive Board Completes the First Review of the Extended Credit Facility for Somalia

Photo/Somali Times Implementation of the Extended Credit Facility (ECF) supported program is off to a good start despite the challenges posed by COVID-19, flooding and the desert locust infestation. The authorities’ swift response to the triple shock , supported by its partners and including tax relief on some basic commodities and expanding the social safety

Read More

Britain, EU have 7-10 days to find Brexit breakthrough, says Ireland

British Union Jack and EU flag during a protest outside the House of parliament in London January 30, 2020 REUTERS/Toby Melville By Padraic Halpin, Elizabeth Piper, Gabriela Baczynska Britain and the European Union have a week to 10 days to find a way to unlock trade talks, Irish Foreign Minister Simon Coveney said on Monday,

Read More

Asia-Pacific nations sign world’s biggest trade deal

15 nations in Asia-Pacific region sign Regional Comprehensive Economic Partnership Agreement on sidelines of ASEAN summit Fifteen nations in the Asia-Pacific region on Sunday signed the world’s largest free trade agreement. ”The Regional Comprehensive Economic Partnership Agreement (RCEP) was signed on the sidelines of the annual summit of the Association of Southeast Asian Nations (ASEAN)

Read More

Kenya land prices fall, rents up after easing of lockdown

Residential Apartment in Nairobi. Kenya land prices have dropped further in Nairobi and the surrounding counties of Kiambu, Kajiado and Machakos in the three months to September despite the ongoing recovery from coronavirus hardships that lifted rent. HassConsult, which conducts a quarterly property pricing index in Kenya, said Thursday that land prices dropped 0.94 percent

Read More

World shares slip on doubts over COVID vaccines, outbreaks

People walk past an electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo Thursday, Nov. 12, 2020. Stocks fell back across Asia on Thursday after gains for big technology shares pushed most Wall Street benchmarks higher. (AP Photo/Eugene Hoshiko) World stocks fell back on Thursday after an overnight comeback by

Read More

China, Somalia ready to push bilateral ties to new highs: FMs

Photo: Credit Facebook China is ready to work with Somalia to push forward bilateral relations to new highs, Chinese State Councilor and Foreign Minister Wang Yi has said. Wang made the remarks in a telephone talk with Somali Minister for Foreign Affairs and International Cooperation Ahmed Isse Awad on Wednesday night. China was among the

Read More

Safaricom borrows Sh24bn as corona cuts profit

Safaricom CEO Peter Ndegwa. Safaricom borrowed additional short-term bank loans amounting to Sh24.7 billion in the half year ended September when its net profit dropped six percent due to removal of fees on M-Pesa transactions of up to Sh1,000. KCB Group is among the country’s major banks that provided the loans to Safaricom that the

Read More