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Economy
Global recession threat to see growth down 1.7% in 2023 – World Bank
January 24, 2023
Lawrence Baraza
0

Global recession threat to see growth down 1.7% in 2023 – World Bank

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

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POST TAGS:
Economic GrowthWorld Bank
Economy
Kenya Airways inks deal with Dutch-based Zenz to bolster its revenue management
January 24, 2023
Lawrence Baraza
1

Parastatals presiding over Ksh.1.1 trillion stalled projects, says Treasury

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

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Corporate
Cytonn sues MP over defamation as it counts millions in loses
January 24, 2023
Lawrence Baraza
0

Cytonn sues MP over defamation as it counts millions in losses

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

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Economy Politics
MPs storm out of retreat in protest against CDF funds
January 23, 2023
Lawrence Baraza
0

MPs retreat in Mombasa hit snag over CDF

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

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Economy
Citadel, US hedge fund makes Ksh.1.9 trillion profit, largest in record
January 23, 2023
mtvadmin
0

US hedge fund Citadel makes Ksh.1.9 trillion profit, largest in record

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

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Markets
Kenya blacklists expensive creditors as Treasury seeks new facility from World Bank
January 23, 2023
Lawrence Baraza
0

State seeking Ksh.10 billion for budget support in Bond Market

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

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Sport
Lucky Kenyan scoops smart TV after bidding with Ksh.5 on Bids Afi
January 19, 2023
mtvadmin
0

Lucky Kenyan scoops smart TV after bidding with Ksh.5 on Bids Afi

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

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Economy World
Microsoft announces cut of 10,000 jobs
January 19, 2023
CGTN
0

Microsoft announces cut of 10,000 jobs

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.

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Economy
List of economic activities set for Ksh.39 billion Dongo Kundu SEZ project in Mombasa
January 18, 2023
Lawrence Baraza
1

List of economic activities set for Ksh.39 billion Dongo Kundu SEZ project in Mombasa

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

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Economy World
Major banks project high possibility of economic recession in US in 2023
January 18, 2023
CCTV+
0

Major banks project high possibility of economic recession in US in 2023

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

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