BUSINESS NEWS
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Kenya Airways (KQ) is set to lay off half of its pilots in the next three years in cost-cutting measures.
Business Daily reports that 207 out of the airline’s 414 pilots will be sent home, a move that will save the company in excess of Sh3.2 billion annually.
Despite accounting for only 10 percent…
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The government has lifted a ban on importation of second-hand clothes and shoes, locally referred to as mitumba, effective immediately.
Kenya Bureau of Standards (KEBS) announced the lifting of the embargo on Sunday following the development of new protocols aimed at preventing the spread of Covid-…
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The push to give US dairy farmers unrestricted access into the Kenyan market has attracted opposition from their Kenyan counterparts.
In the proposed free trade agreement (FTA) between Kenya and the US, American dairy farmers are seeking to have tariffs imposed on milk exports to the Kenyan market…
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The iconic Intercontinental Hotel in Nairobi is set to be closed permanently over “operational reasons.”
The facility’s proprietor, InterContinental Hotels Corporation Limited (IHCL), announced the closure through a notice to its employees.
The company said it is winding up its operations in Kenya…
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Michael Joseph has been appointed as the new Chairman of the Safaricom Board effective August 1st.
Joseph takes over from Nicholas Nganga, who has proceeded on retirement having served in the position for the past 14 years.
“Michael takes over from Mr. Nicholas Nganga who has been the chairman of…
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The recently launched trade negotiations between Kenya and the US have been put on hold over Covid-19 fears.
The talks were suspended after it emerged that some members of the Kenyan negotiating team may have been exposed to the virus, according to US news outlet The Politico.
Citing three sources…
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Kenya Airways (KQ) has said it will not operate nonstop flights to the US when it resumes international flights on August 1st.
As a result, passengers traveling to the US from Nairobi will be forced to change planes in Europe or the Middle East, a trip that could take over 20 hours.
The airline…
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Wealthy Kenyans deposited a record Sh45.5 billion in dollars between March and May this year, according to latest data by Central Bank of Kenya (CBK).
CBK data shows Forex reserves hit Sh671.4 billion in May, up from Sh625.9 billion in February—the largest ever three-month increase.
Interestingly,…
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Two lawyers have moved to court to challenge the proposed free trade agreement (FTA) between Kenya and the US.
Lawyers Christopher Oyieko and Emily Osiemo in a case filed at the East Africa Court of Justice argue that the trade pact violates Kenya’s treaty with the other East Africa Community (EAC…
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Nigeria tycoon Herbert Wigwe has acquired majority shares in Kenyan lender, Transnational Bank.
Wigwe bought a 97 percent stake in Transnational Bank, which was previously held by close associates of former President Daniel Arap Moi, who passed away early this year.
53-year-old Wigwe, who is the…
