Kenya Financial News

NEW DELHI : India-backed Global Biofuels Alliance (GBA) is looking for more countries to join it from South-east Asia and Africa after the Philippines and Tanzania became the latest entrants. The move is strategically significant as it is expected to give India an upper hand over China which has interests in both South East Asian and Africa and has been opposed to joining the alliance. The alliance launched on 9 September on the sidelines of the G20 Leadership Summit was initially conceptualized with a view to getting all G20 members on board.

Toyam Sports jumped 5% upper circuit to hit the day's high of Rs 6.61 on the BSE in Wednesday's trade following the announcement of its sports web series, ‘Kumite 1 Warrior Hunt’ making an official entry to the Kenya International Sports Film Festival (KISFF). The web series is slated for screening at the premier African film festival on October 29, 2023, in Nairobi, Kenya, the company informed in its filing to the exchanges. The above development was announced by Toyam Sport on Tuesday minutes before the market closing time and it triggered a strong movement as the counter hit the upper circuit of Rs 6.30.

The lawyer representing 184 former Facebook content moderators based in Kenya who have sued the site's parent company, Meta, over working conditions and pay has told the judge that Meta was not sincere in trying to reach an out-of-court settlement as a...

China’s Belt and Road Initiative looks to become smaller and greener after a decade of big projects that boosted trade but left big debts and raised environmental concerns

By Rachel Savage

Leaders of emerging market countries are arriving in Beijing for a meeting organized by the Chinese government that will mark the 10th anniversary of its Belt and Road Initiative

Adani Ports & SEZ is “confident” of repaying by Feb 2024, the $650 million of foreign currency bonds that are maturing next year, its CEO said Sunday. “We have already prepaid $120 million and then another $190 million,” Karan Adani told reporters on the sidelines of the inauguration of its Vizhinjam port in Kerala. “We are very confident that by January-February we will prepay the balance amount. And that was part of our commitment at the start of the year, when we had said our net debt-equity ratio will be 2.5X,” Adani had in February said his company would repay Rs 5,000 crore worth of debt by next financial year. Adani’s debt-prepayment is part of its efforts to win back investor trust, large swathes of which were eroded after an American short-seller Hindenburg alleged it of stock price manipulation. As of June, the company had prepaid $2.65 billion worth of loans. The company, that aims to become the world’s largest port operator by 2030, is looking at brownfield international port projects in Vietnam, Kenya and Tanzania, said CEO Adani. The Vietnamese government had, in a statement in May, said it welcomed Adani’s investment in its Lien Chieu port and renewable energy projects.

Facts East Africa, Mwenda managed to represent clients in 26 cases before Kenyan High Court Judges, Magistrates, and Court of Appeal Judges, achieving victory in all of them. As per the report, Mwenda had successfully portrayed himself as a legal professional for an extended period, and even judges did not question his competence until his recent arrest.

Most of the population in conflict-affected countries like Niger, Mali, Burkina Faso, Chad and northern Nigeria depends on climate-vulnerable agriculture

By Rachel Savage and Jorgelina do Rosario

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

The annual meetings of the International Monetary Fund and World Bank kick off this week against a backdrop of escalating global conflict and debt distress.

Kenyan Kelvin Kiptum shattered the men's marathon world record in Chicago on Sunday, winning in two hours and 35 seconds to beat compatriot Eliud Kipchoge's previous mark by more than 30 seconds. Kiptum shattered the London Marathon course record this year and was determined to make magic again in the Windy City as he sped up through the 35-kilometre mark before thrusting his arms in the air to cheers from the crowd down the final stretch. Kiptum had not originally targeted the record but said he knew that twice Olympic champion Kipchoge's previous mark of 2:01:09 was within reach in the final kilometres, as he dug deep to make history. «I feel so happy. I wasn't prepared,» he said at the finish line.

Treasury yields surged this week, sparking a broader selloff in global bond markets as investors brace for higher interest rates for longer. Longer-dated US government yields reached levels last seen in the financial crisis, fueled in part by strong job-market data. That culminated with a report at the end of the week showing employment unexpectedly surged last month, bolstering the case for another Federal Reserve rate hike. Governments took advantage of cheap borrowing costs during the pandemic to safeguard their economies.

Suella Braverman has cautioned his niece about some of her language around immigration and urged her not to forget that she herself is a child of migrants. According to a report in 'The Times' on Saturday, Father Ayres Fernandes told the newspaper from India that he sees the need to clamp down on illegal immigration. However, the director of a retreat centre in Okhla said there was a need for more compassion towards refugees and asylum seekers.

UK Home Secretary Suella Braverman's hard line speech that tough action needs to be taken to stop migration. “It's likely that Braverman is aware of the role immigration plays in sustaining the UK economy and fulfilling skill gaps, making her remarks noteworthy for not only political observers; but also stakeholders concerned with immigration's role in the UK's future. This is considering the country is grappling with with a labour shortfall in various sectors, " said Yash Dubal, A Y & J Solicitors, London, United Kingdom.

oil trading at $100-a-barrel next year? Because a triple-digit price tag wouldn’t just mean elevated energy prices — it would also turbocharge the dollar. The combination of expensive barrels and a rampaging greenback could make crude a wrecking ball in 2024 that keeps inflation high enough to destroy growth around the world. The more oil soars, the pricier the dollar is likely to be, creating a pernicious feedback loop.

A parliamentary committee in Kenya’s government tasked with investigating Worldcoin has recommended that regulators shut down the project’s operations in the country.

Rohit Bansal, co-founder of Snapdeal and Titan Capital, on what travel has taught him.

Kenyan authorities have accused Worldcoin of engaging in acts of espionage and posing a threat to the country's statehood. 

Restrictions on food exports are spilling over from rice and wheat to other essentials