BUSINESS NEWS

Kenya Airways says that it has scheduled New York City as its first destination when it kick-starts direct flights to the US next year. The national carrier said that it views New York as an aviation hub to mark its entry into the US, before flexing its wings in other US destinations. Last week, KQ…

The US Government has defended the awarding of a multi-billion-shilling Mombasa-Nairobi Superhighway construction tender to an American firm in absence any competitive bidding. In a statement by the US embassy in Nairobi, the US said the Sh300 billion Nairobi-Mombasa expressway project has been two…

Kenyan farmers are set to reap big from the Kenya-US direct flights after national carrier Kenya Airways edge closer to flying a maiden direct flight to the US. KQ received a boost in the bid to achieve the milestone after the United Stated Department of Transportation granted it permission to…

Centum Investment’s James Mworia has set a new record for highest paid Chief Executive Officer (CEO) in Kenya. A pay rise of 5.1 per cent has seen Mworia take home Sh375.6 million in the year ended March compared to Sh201.1 million the year before. This means that his total five-year pay will rise…

For the third consecutive year, a US-based public institution survey has ranked Kenya the top country in financial and digital inclusion, thanks to the country's wide adoption of mobile money in the local economy. Brookings Institution’s Centre for Technology Innovation, a Washington DC-based non-…

A new survey conducted in 60 developed and developing countries by a top US University has ranked Kenya the fourth-fastest growing digital economy in the world. In its Digital Planet 2017 report, Tufts University’s Fletcher School of Business indicated that Kenya’s digital economy has high…

African Export and Import Bank (Afreximbank) is courting high-net worth individuals Nairobi to purchase into its Depository Receipts (DRs) with an attempt raise up to Sh30.97 billion by September 22nd. The trade financier plans to raise between $100 million (Sh10.32 billion) and $300 million (Sh30.…

A United States watchdog agency has given Kenya's pending $418 million (Sh 43 billion) purchase of combat aircraft, the biggest weapons deal in the US history, a clean bill of health, saying that it conforms with US law governing the Foreign Military Sales (FMS) programme. The US Government…

Thousands of employees in both public and private sectors could miss out on their September salaries after Kenya Revenue Authority (KRA) deactivated their Personal Identification Numbers (PINs). Those who have been affected include taxpayers who have pending Value Added Tax (VAT) obligations that…

An investigative report by the Standard has exposed how love for quick money by Kenyans has overshadowed normal 'traditional' ways of acquiring wealth. A normal morning at the Nairobi city centre, Kenyans are rushing to make it on time to their job places, two sharply young gentlemen walk along…