National Treasury Cabinet Secretary Ukur Yatani. By David Mwere The government borrowed an average of Sh2.62 billion daily within four months this year as its appetite for loans to finance ambitious capital projects amid the Covid-19 pandemic continues. ”The borrowing comes despite warnings from the Bretton Woods institutions — the International Monetary Fund (IMF) and

EU Chief Negotiator Michel Barnier, center, walks with his team to attend Brexit trade negotiations at a conference centre, in London, Tuesday, Dec. 2, 2020. Teams from Britain and the European Union are continuing face-to-face talks on a post-Brexit trade deal with little time remaining. (AP Photo/Matt Dunham) By JILL LAWLESS LONDON (AP) — The

A Debenhams store is pictured in Liverpool, following the outbreak of the coronavirus disease (COVID-19), Liverpool, Britain, June 5, 2020. REUTERS/Molly Darlington LONDON (Reuters) – British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday. It said it would start a wind-down of Debenhams,

Transaction size of $200M implies total equity value of $2B, says Turkiye Wealth Fund of 10% Borsa Istanbul acquisition The acquisition of a 10% share in Turkish stock exchange Borsa Istanbul by the Qatari state Investment Authority was completed on Monday. ”According to a statement from the Turkiye Wealth Fund (TWF), the transaction size of

Central Bank of Kenya Governor Patrick Njoroge. Workers and businesses have defaulted on loans worth Sh53.95 billion since the onset of coronavirus restrictions in March, paving the way for blacklisting of thousands of borrowers with credit reference bureaus (CRBs) from January. Data from the Central Bank of Kenya (CBK) shows that non-performing loans (NPLs) rose

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Nov. 30, 2020. Asian shares were mixed on Monday on renewed caution despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the

Photo; Credit The Guardian Rishi Sunak and Akshata Murty. The chancellor’s wife has a £430m shareholding in IT multinational Infosys. Photograph: unknown By Juliette Garside Chancellor did not declare wife’s multimillion-pound share portfolio in register of interests The government ethics watchdog has been asked to assess whether the ministerial code was breached by Rishi Sunak

A currency trader talks on the phone near the screens showing the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 26, 2020. Asian shares were mixed Thursday, after Wall Street took a pause from the optimism underlined in a record-setting climb earlier in the week. (AP Photo/Lee Jin-man)

Britain’s Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, November 25, 2020. REUTERS/Simon Dawson By William Schomberg LONDON (Reuters) – British finance minister Rishi Sunak, who has already pledged over 200 billion pounds to fight the COVID-19 crisis, will free up more cash on Wednesday against the backdrop of the heaviest

Treasury Cabinet Secretary Ukur Yatani. The Treasury will try to push wealthy countries and multilateral lenders like the World Bank to cancel part of Kenya’s ballooning public debt, reflecting concerns about the burden of paying creditors from taxes that have been hit hard during the coronavirus pandemic. In a November paper titled Post Covid-19 Economic