BUSINESS NEWS

Co-op Bank's Gideon Muriuki has emerged as the best paid Chief Executive Officer (CEO) among his peers leading public listed companies in the country. An annual report by the leading banking institution shows that Mr Muriuki pocketed Sh370 million in the year ended December 2017. Of the Sh370…

Kenyans have been warned of a syndicate that has been conning the public by issuing them with fake smart driving licenses while posing as Transport officials. In a statement, the National Transport and Safety Authority (NTSA) warned Kenyans against falling victims to the fraudsters, stating that it…

The office of Deputy President William Ruto's wife, Rachael has received a 700 per cent increase in budget for staff hiring for the next financial year. The Treasury has set aside an additional Sh103.7 million for Rachael's office for hiring staff, increasing further the burden of keeping State…

Transport and Infrastructure Cabinet Secretary James Macharia has expressed optimism that Jomo Kenyatta International Airport (JKIA) will be cleared for nonstop  flights between Nairobi and New York. The CS said the final security audit of the Nairobi airport by American authorities, which…

Jomo Kenyatta International Airport (JKIA) is set to undergo a final audit by the American security agencies starting Monday. This audit will determine whether Kenya Airways will be granted authority to operate nonstop flights between Nairobi and New York. The five-day audit is being carried out by…

Retired President Mwai Kibaki has had his staff, catering and car maintenance costs for the next financial year trimmed to Sh87 million. The National Treasury cut the budget allocated to the office of former president in the ongoing attempt to ease taxpayers’ burden of keeping the ex-head of states…

Failing to reverse a wrong M-Pesa transaction will attract a fine of up to Sh200,000 or a 2-year prison term or both, the Computer and Cyber Crimes Act, 2018 which was ratified by President Kenyatta on Wednesday states. The new law has spelled out tough consequences for individuals who defraud…

High income earners could be be subjected to taxation of up to 35 percent in a new Bill by the National Treasury. Treasury Cabinet Secretary Henry Rotich in a newly published Income Tax Bill says the move is aimed at increasing income tax revenues by Sh68 billion. The increased tax rate targets…

American construction company Bechtel Executive is set to begin work on the Sh300 billion Nairobi-Mombasa expressway. The road will be built and owned by a private investor after the Kenyan government declined to take a loan to fund the mega highway, in a bid to curb the ballooning public debt. On…

The government has disposed 400 tonnes of contraband sugar into the Indian Ocean. The destruction of the Sh28 million commodity was supervised by Industrialisation Cabinet Secretary Adan Mohamed and his Tourism counterpart Najib Balala. The sugar was smuggled into Kenya from Dubai and was…