BUSINESS NEWS
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Kenya Airways (KQ) has said it will not operate nonstop flights to the US when it resumes international flights on August 1st.
As a result, passengers traveling to the US from Nairobi will be forced to change planes in Europe or the Middle East, a trip that could take over 20 hours.
The airline…
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Wealthy Kenyans deposited a record Sh45.5 billion in dollars between March and May this year, according to latest data by Central Bank of Kenya (CBK).
CBK data shows Forex reserves hit Sh671.4 billion in May, up from Sh625.9 billion in February—the largest ever three-month increase.
Interestingly,…
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Two lawyers have moved to court to challenge the proposed free trade agreement (FTA) between Kenya and the US.
Lawyers Christopher Oyieko and Emily Osiemo in a case filed at the East Africa Court of Justice argue that the trade pact violates Kenya’s treaty with the other East Africa Community (EAC…
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Nigeria tycoon Herbert Wigwe has acquired majority shares in Kenyan lender, Transnational Bank.
Wigwe bought a 97 percent stake in Transnational Bank, which was previously held by close associates of former President Daniel Arap Moi, who passed away early this year.
53-year-old Wigwe, who is the…
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Cash-strapped Kenya Airways (KQ) is set to axe 182 pilots and over 400 cabin crew members.
The airline has already served redundancy letters to 22 pilots and 160 more are on their way out together with at least 400 cabin attendants, according to The Star.
The affected employees’ exit package…
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The United Kingdom has elbowed the Netherlands and the US to become the third-largest buyer of Kenyan goods.
The latest data by the Kenya National Bureau of Statistics (KNBS) shows that Kenya earned Sh13.29 billion from exports to the UK in the first quarter of the year, representing a 12.22…
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President Uhuru says Kenya Airways (KQ) will resume operations in a few days. Uhuru, who spoke on Friday during a virtual conference sponsored by US-based Corporate Council on Africa (CCA), noted that the government will first allow the national airline to resume domestic flights.
The government…
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Kenyan-based American companies have created employment opportunities to 6,000 Kenyans in the last 10 years, according to a new report.
During the period, 85 American companies channeled over Sh300 billion in foreign direct investment (FDI) to Kenya and hired 5,964 more Kenyans, the report released…
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The government’s plan to slap digital companies with taxes could spark a trade war between Kenya and the US.
Through the Value Added Tax (Digital Marketplace Supply) Regulations, 2020, companies will be required to pay 1.15 percent of gross sales values as tax.
Under the regulations, the digital…
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An unknown number of Kenyans working for Dubai-based airline, Emirates are among hundreds of employees who are set to lose their jobs.
The State-owned flag carrier announced it will be laying off workers in a restructuring plan precipitated by the effects of the Covid-19 pandemic on its business.…
