Cost of bank loans reach 27-month high on T-bills

Capital Markets Cost of bank loans reach 27-month high on T-bills Tuesday June 14 2022 Central Bank of Kenya. PHOTO PHOTO | NMG Bank lending rates hit a 27-month high in April as costs of wholesale deposits increased following competition for funds between lenders and the government, setting up costly credit for homes and businesses … Read more

Power producers eye more sales as demand rises

Companies Power producers eye more sales as demand rises Thursday May 26 2022 Managing Director (MD) and Chief Executive Officer (CEO) of Kenya Electricity Generating Company (KenGen), Ms Rebecca Miano on March 18, 2021. PHOTO | JEFF ANGOTE | NMG Power generating companies are set to gain from the increased national demand for electricity which … Read more

Co-op Bank first quarter profit jumps 65.7pc to Sh5.8bn

Companies Co-op Bank first quarter profit jumps 65.7pc to Sh5.8bn Thursday May 26 2022 Co-operative Bank branch along Haile Selassie Avenue, Nairobi. PHOTO PHOTO | NMG Cooperative Bank of Kenya’s net earnings grew by nearly two-thirds in the first quarter ended March, helped by higher interest and non-interest income and lower costs. The bank announced … Read more

Modern looks beyond Covid vaccines for Kenya factory

Companies Modern looks beyond Covid vaccines for Kenya factory Sunday May 22 2022 The government now says Moderna’s Sh57.5 billion vaccine plant will have a crucial role to play in the fight against other diseases beyond the Covid 19 pandemic. PHOTO | SHUTTERSTOCK By BRIAN NGUGIMore by this Author Summary But health Cabinet secretary Mutahi … Read more

Wall Street: S&P 500 down 20% from record intraday high of Jan 4

The benchmark S&P 500 was down 20% from its Jan. 4 intraday record peak on Friday as investors sold stocks amid worries about whether the Federal Reserve will be able to effectively combat inflation without causing a recession. A close of more than 20% below the all-time closing high of Jan. 3 would confirm the … Read more

Dollar shortage hits operations of Kenya-based oil marketers

Industry Dollar shortage hits operations of Kenya-based oil marketers Tuesday May 10 2022 A Rubis fuel station along Koinange Street in Nairobi. PHOTO | DENNIS ONSONGO | NMG By JOHN MUTUAMore by this Author Summary The shortage of US dollars is affecting the operations of oil marketers who ship in refined petroleum products – the … Read more