US Stock Markets Updates
Stock markets in the United States closed mostly lower on Wednesday amid release of economic data reports which showed an improved recovery pace. The country's private sector activity fell by 4.8 [...]
Rockefeller Foundation, IFC Partner to Increase Energy Access in Sub-Sahara Africa
70% of homes in Sub-Saharan Africa lack electricity connection. The Rockefeller Foundation, one of the most famous philanthropies, has partnered with the International Finance Corporation (IFC) to invest in renewable [...]
US Stock Markets Brief; Microsoft, Adobe, Google, NVIDIA
Major indices in the US stock markets on Thursday's session closed mixed with Nasdaq 100 hitting a record high mainly driven by technology and chip stocks such as NVIDIA Corp [...]
Emirates Group Reports $6 Billion Loss
Emirates Group has reported a $6 billion loss in the Financial Year to 31st March 2021, citing the adverse impact of the global COVID-19 pandemic. A first in over 30 [...]Sub-Saharan Africa slips into Worst Recession in 60 years-World Bank
Output for economies in Sub-Sahara Africa collapsed by 2.4% in 2020 due to the COVID-19 pandemic.This was the region’s first economic contraction in a generation and the deepest recession since [...]
Kenya receives US$ 750 Million from World Bank for COVID-19 Recovery
Kenya has received US$ 750 Million from the World Bank to reinforce its resilient, inclusive green economy recovery from the COVID-19 crisis. The World Bank approved this development policy financing [...]G7 Mulls Support for Reallocation of $100 Billion IMF Reserves
The G7 (an intergovernmental organization made up of the world's largest developed economies: France, Germany, Italy, Japan, the United States, the United Kingdom, and Canada) is mulling support for reallocation [...]KLM to Launch Direct Flights into Mombasa in October
KLM Royal Dutch Airline, the flag carrier of the Netherlands, is set to launch direct flights into Mombasa beginning October 31st 2021. The two flights a week will be on [...]Kenya to get US$750 Million from World Bank in a fortnight
Kenya expects to receive a loan of US$750 Million from the World Bank in the next two weeks to support its budget. This disclosure has been made by the Central [...]Kakuzi to resume UK Avocado Exports After 8 Months
Listed Agricultural firm Kakuzi is gearing to resume exports of avocadoes to supermarkets in Europe which stopped buying its produce in October 2020. Kakuzi faced scathing accusations of engaging in [...]Uber Taxi increases prices in Kenya, Nigeria due to Driver Protests
Uber Technologies Inc. has raised fares in Kenya and Nigeria in response to demand by drivers for a higher share of commissions to compensate for increased operations costs. It added [...]Branch International Gets Nod to Acquire 84.89% Stake in Century Microfinance Bank
The Competition Authority has approved the proposed acquisition of a 84.89% stake in Century Microfinance Bank by Branch International Limited. Branch International, a Silicon Valley-based start-up, offers loans to first-time [...]
