Entertainment News
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KBC employees to go on strike
It seems the government owned media house KBC is in trouble again as its workers are calling for a strike come 23rd this month after talks with the information permanent…Read more...
Business (87)
KenTV Business brings you latest business and money markets news from the East African Region.
Reuters - The top price of the benchmark Kenyan coffee grade AA rose to $600 per 50 kg bag at auction this week from $491 at the previous sale, the Nairobi Coffee Exchange said on Wednesday.
Kenya's Pan Africa Insurance Holdings posted a 17 percent decline in pretax profit for 2011 to 552 million shillings ($6.6 million, hit by lower valuations of its bonds and equities portfolios, it said on Tuesday.
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
Equity Bank Group has not only decided to shine in Kenya but also has enhanced its East African presence with the official opening of seven branches in Rwanda as part of its corporate expansion strategy.
The Kenyan shilling could weaken in coming days, pressured by importers buying greenbacks to meet their end-month needs, traders said on Monday as the currency held steady in thin trade.
Kenya's earnings from horticulture exports rose 18 percent last year, despite a marginal dip in volumes, buoyed by a favourable exchange rate and strong prices for vegetables and fruits, an industry body said on Monday.
Kenyan yields are expected to continue their decline at bond and Treasury bill sales next week as subscription rates increase, while a Zambian bond sale on Friday is likely to attract strong demand from local investors.
Barclays Bank of Kenya posted an 11 percent rise in underlying pretax profit to 12.01 billion shillings in 2011 and said it was raising the total dividend per share by 10 percent.
Kenya's tourism revenues rose 32 percent to Sh98 billion ($1.18 billion) last year after the country attracted visitors from new markets.
Tourism Minister Najib Balala said arrivals rose 15.4 percent to 1.26 million, just shy of a targeted 1.3 million visitors in 2011.
The 2011 revenue figure also fell short of Sh100 billion target for the year.
However, Balala warned that the euro zone crisis would curb growth this year.
"I don't expect any growth in 2012. The economic crisis is seriously biting... Growth in 2012 is expected to be at the same level as 2011 at 98 billion shillings," the minister said.
-Reuters
Reuters - The Kenyan shilling extended losses on Tuesday on the back of importers buyingdollars, but traders said sentiment was still broadly for astrong local currency backed by central bank's tight monetarypolicy.
Business News
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Top grade Kenyan coffee price jumps at auction
Reuters - The top price of the benchmark Kenyan coffee grade AA rose to $600 per 50 kg bag at auction this week from $491 at the previous sale, the…Read more...
Sports News
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Napoli test for Chelsea, Real at CSKA
Out-of-form and low on morale, Chelsea head to Napoli in the Champions League on Tuesday aiming to maintain English interest in the competition.Read more...