Volkswagen Invests $2.33 Billion in China's Electric Cars
Volkswagen plans to invest $2.33 billion in two separate Chinese electric vehicle firms, setting a giant print in the world's biggest auto market. According to the company, they will invest [...]
BAT Kenya Makes Changes in its Board of Directors
British American Tobacco has announced changes in its board of directors, appointing Philemon Kipkemoi as an Executive Director in its board. Philemon has been with BAT for 14 years. He [...]Renault Announces 15,000 Job Cuts
French carmaker, Renault, has announced plans to implement 15,000 job cuts around the world, even as it tries to remain afloat during the COVID-19 pandemic. The firm recorded its first [...]EA Portland Cement Announces Voluntary Early Retirement Scheme
East African Portland Cement has announced a voluntary early retirement scheme in response to the financial challenges from COVID-19. Acting managing director Stephen revealed that the program will help keep [...]ARM to Sell Rwanda South African Subsidiaries
Cement maker, Athi River Mining (ARM), is looking to dispose off its subsidiaries in Rwanda and South Africa, a move that brings it closer to delisting from the NSE. According [...]Car and General Half Year earnings rise to KSh 164.8 Million
Net earnings of listed auto dealer Car General increased to KSh 164.8 Million in the six months ended 31st March, 2020. This is compared to KSh 51.3 Million in [...]
Tesla Reopens Production Facility in California, Defying Orders
The electric carmaker, Tesla, has reopened its primary car assembly plant in Fremont, California, defying local health authorities and a countywide order that restricts nonessential businesses to minimum basic operations. [...]Algeria Lifts Ban on Car Imports
Algeria's cabinet lifted the ban on car imports after the ban failed to reduce the import bill. Lifting the ban, endorsed in 2014 under President Abdelaziz Bouteflika, follows a surge [...]Mumias Sugar Ethanol Sale Halted by KRA
The Kenya Revenue Authority (KRA) has stopped Mumias Sugar Company from selling its ethanol after the company failed to pay a KSh100 million bond prerequisite in an ongoing tax dispute. [...]Carmakers Set to Reopen Plants in Europe
Carmakers are slowly preparing to reopen their manufacturing plants in Europe, after temporarily shutting them down in a bid to prevent the spread of coronavirus. Toyota, Renault, Hyundai, Volkswagen, and [...]KAM Launches Local Goods Online Directory
Kenya Association of Manufacturers' (KAM)local goods online directory has gone live, a move that seeks to prevent disruptions in the market during this COVID-19 outbreak. KAM reports that the local [...]BMW Temporarily Closes Plants in Europe and South Africa
German automaker, BMW, has announced plans to close its plants in Europe and South Africa for one month, until 19th April 2020. The move seeks to curb spread of the [...]
