The global economy is projected to grow by 1.7% in 2023 and 2.7% in 2024, the World Bank has said. The sharp downturn in growth is expected to be widespread, with forecasts in 2023 revised down for 95 percent of advanced economies and nearly 70 percent
The National Treasury is now charming offensive against State Owned Enterprises (SOEs), better known as parastatals over their continued reliance on the exchequer for their survival. Kenya has 263 parastatals, a good number of which have been presiding over stalled projects valued at Ksh.1.1 trillion due
Cytonn Investments Management PLC has run to court over defamatory remarks made against it, as it continues to count millions in losses since December last year. According to the firm, the Alego Usongo Member of Parliament - Samuel Atandi - made the defamatory remarks which have
A Parliamentary retreat in Mombasa by Members of Parliament hit a snag Monday in what was seen as a protest against delayed disbursement of the National Government County Development Funds (NG-CDF). Led by Yatta MP Basil Ngui, the lawmakers challenged the National Treasury Cabinet Secretary Njuguna
Citadel made a record $US16 billion (Ksh.1.9 trillion trillion) in profit for clients last year, the biggest dollar gains by a hedge fund in history. The Ken Griffin's managed firm outshone the rest of the industry and one of history’s most successful financial plays. Citadel's boss Ken
The Kenyan government is seeking to raise an additional Ksh.10 billion for the budgetary support in the financial year 2022/23. This follows an offering of a tap sale by the National Treasury for the Fixed Coupon Treasury Bond - FXD1/2020/005 and FXD1/2022/015 - with effective tenors
A lucky Kenyan walked away with a smart TV after bidding with Ksh.5 bob on Bids Safi. Grace, who could not hide her joy as she received the Hisense Smart TV A4 series 43, said that she didn’t believe when she first received the call from
Microsoft announced that it is cutting 10,000 jobs, less than 5 percent of its total workforce. The cuts were "in response to macroeconomic conditions and changing customer priorities," the maker of the Windows operating system said in a U.S. regulatory filing.
The Kenya Kwanza government has laid downs strategy to start construction work at the Dongo Kundu Special Economic Zone in Mombasa. Trade Cabinet Secretary Moses Kuria said the Ksh.39 billion project will start by latest - March 31, 2023. Phase one of the project will be done
A possible economic recession is projected to hit the United States in 2023, said major banks and financial experts, as the Federal Reserve is expected to further increase interest rates to curb the high inflation. The U.S. saw its consumer prices rose at an annual rate
