Price caps for Russian oil imports far from imminent: Germany to EU

Germany and other European Union governments voiced bail in a closed-door meeting about price caps on Russian oil, a day after the Group of Seven economic powers agreed to urgently start work on the matter, EU officials told Reuters on Thursday. On Tuesday G7 leaders agreed to explore “the feasibility of introducing temporary import price … Read more

Why RBI must front-load the forthcoming rate hikes

The latest provisional estimates of GDP growth for FY22, of 8.7 per cent, has sent out multiple signals. Slightly lower than the earlier estimate of 8.9 per cent, the latest figure is evidence of the pressures which the economy felt on account of the third wave of the pandemic, and the Russia-Ukraine conflict in the … Read more

Russia advances in east; Ukraine calls for longer-range weapons

Russian forces have stepped up their assault on the Ukrainian city of Sievierodonetsk after claiming to have captured the nearby rail hub of Lyman, as Kyiv intensified calls for longer-range weapons from the West. Slow, solid Russian gains in recent days in eastern Ukraine’s Donbas, comprising the Luhansk and Donetsk regions, point to a subtle … Read more

IMF backs Kenya’s cooking oil, loans, gambling tax raise

Economy IMF backs Kenya’s cooking oil, loans, gambling tax raise Thursday April 28 2022 Signage at the International Monetary Fund (IMF) headquarters in Washington, DC. PHOTO | AFP By CONSTANT MUNDAMore by this Author Summary Some of the taxation measures include 16 percent levy on cooking gas, raising excise duty on airtime and data to … Read more

CBK orders banks to ration scarce dollars

Economy CBK orders banks to ration scarce dollars Monday April 25 2022 CBK Governor Patrick Njoroge. PHOTO | SALATON NJAU | NMG By CONSTANT MUNDAMore by this Author Summary The Central Bank of Kenya (CBK) has directed commercial banks to ration dollars following a shortage of the US currency and the race to protect reserves, … Read more

Foreign currency deposits in banks hit all-time high

Economy Foreign currency deposits in banks hit all-time high Monday April 18 2022 Central Bank of Kenya. PHOTO PHOTO | NMG By ELIZABETH KIVUVAMore by this Author Summary The shilling has depreciated to record lows against the greenback and other major currencies on the back of a fast-rising import bill. The shilling was exchanging at … Read more