Stocks listed on the Nairobi Securities Exchange (NSE) lost Sh80.02 billion of their value yesterday as foreigner sold off shares in blue-chip firms over the new lockdown, making it one of single-largest drops in a day in the bourse’s history. The market capitalisation closed at Sh2.47 trillion compared to Sh2.55 trillion on Friday, with Safaricom,

Photo: Credit AFP/ US Securities and Exchange Commission Chairman Jay Clayton, speaks during a House Committee on Financial Services hearing entitled “Capital Markets and Emergency Lending in the COVID-19 Era. America stocks market regulator has suspended a Canadian firm from trading in the United States for failing to shed light on disclosures indicating it signed

File Photo/Somali Times The Executive Board of the International Monetary Fund granted additional interim assistance to Somalia under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative in an amount of SDR 0.68 million (about US$ 0.97 million) on a lapse of time basis. [1] This interim assistance will cover Somalia’s debt service obligations to the

A fleet of Kenya Airways planes at the Jomo Kenyatta International Airport in Nairobi. Kenya Airways (KQ) net loss has nearly tripled to Sh36.2 billion, the worst ever in the history of the airline, on account of Covid-19 disruptions that led to a sharp decline in passenger numbers. The loss, for the financial year ended

A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. (Reuters Photo) The Turkish currency plummeted against the U.S. dollar on Monday after President Recep Tayyip Erdogan fired the central bank governor over the weekend for hiking interest rates. The lira was trading at around 7.9 against the dollar

Photo: Credit Reuters By Aditi Shah, Nigam Prusty The United States would like to elevate and strengthen security ties with India, especially in information sharing and logistics, Defense Secretary Lloyd Austin told his Indian counterpart on Saturday. Austin is making the first visit by a top member of U.S. President Joe Biden’s administration to India

A man walks past a stock quotation board at a brokerage in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-Hoon/File Photo By Wayne Cole Asian share markets slipped on Friday after a spike in global bond yields soured sentiment toward richly priced tech stocks, while a stampede out of crowded positions may have put an end

A woman walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Wednesday, March 17, 2021. Asian shares were mixed Wednesday as world markets cautiously awaited the U.S. central bank’s latest comments on how it views the economic picture. (AP Photo/Vincent Yu) By YURI KAGEYAMA

Kenya’s foreign exchange reserves have declined by 27.8 billion shillings (about 254 million U.S. dollars) since the start of March, pulled down by external loan repayments. The forex reserves fell from 7.605 billion dollars at the end of February to 7.351 billion dollars on March 11, the Central Bank of Kenya (CBK) said in its

By Elena Teslova Russian foreign minister visits UAE, Saudi Arabia, Qatar From March 8 – 12, Russian Foreign Minister Sergey Lavrov toured the United Arab Emirates (UAE), Saudi Arabia and Qatar to discuss regional and international issues. The tour began with the UAE, where Lavrov met the Crown Prince and de facto ruler Mohammed bin