Kenya Financial News

An alliance of bond investors representing $5 trillion in assets says its first study of sovereign issuers shows most of their climate pledges lack the necessary ambition.

Facebook's parent company Meta was not in contempt of court for failing to pay dozens of content moderators that a contractor laid off. Labour judge Mathews Nduma Nderi said Meta did not «deliberately and contemptuously» breach a court order requiring it to pay the wages of hundreds of Facebook content moderators.

The Capital Markets (Amendment) Bill, 2023, has received approval from the National Assembly’s Finance and National Planning Committee in Kenya. 

By Gloria Dickie

By Valerie Volcovici and William James

₹100 crore over the next three to four years. With these internally accrued funds the company plans to enter new markets such as Uttar Pradesh, Karnataka and Rajasthan by 2024, Vinay Khare, its director, told Mint. To support its growth, the company plans to set up its own malt plant with a capacity of 6,000 litres a day, and a new production unit.

The Kenyan High Court has struck out key clauses of a contentious finance law that has been blamed for significantly raising taxes and the cost of living in East Africa’s largest economy

At least 76 people have died and 40,000 displaced from their homes since the rains began pounding the country in October. President William Ruto convened an emergency cabinet meeting on Monday and said 38 of Kenya's 47 counties had been affected by floods and mudslides made worse by the El Nino phenomenon. State House spokesperson Hussein Mohammed also noted «disease outbreaks, destruction of infrastructure and property as well as prolonged power outages» across Kenya and the region. The worst affected areas are the coastal cities of Mombasa and Malindi and the northern Kenya region which borders Somalia, also hit hard by flooding. In Kenya's Garissa town, thousands of people have been displaced after their homes were swept away. «All roads are destroyed.

Zimbabwean cricketer Henry Olonga has captivated audiences with a mesmerizing singing performance on Channel 9. While many know him for his achievements on the cricket field, Olonga's foray into the world of music has unveiled a new facet of his versatile talents.

commerce ministry is working to address issues related to non-tariff barriers and market access for domestic products in sub-Saharan African countries like Nigeria, Ethiopia, Ghana and Gulf nations to boost India's exports, an official said. The official said meetings have been held with Indian missions of the sub-Saharan African countries with which India has significant bilateral trade. The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion). The other countries were Mozambique (USD 5 billion, exports USD 2.5 billion); Angola (USD 4.22 billion, exports USD 621 million); and Kenya (USD 3.4 billion, exports USD 3.2 billion). «A virtual meeting with Indian Mission of top 10 countries (bilateral trade-wise) in sub-Saharan African region was held in September to discuss the overall economic and commercial relations with those countries, export performance and non-tariff barriers which are acting as impediments to bilateral trade and enhance exports,» the official said. A similar meeting was also held with Indian Missions in GCC countries. GCC is a union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain.

MOGADISHU (Reuters) — The number of people killed by floods from heavy rains in Somalia has climbed to 96, state news agency SONNA said on Saturday.

Finnish border guards and soldiers have begun erecting barriers including concrete obstacles topped with barbed-wire at some crossing points on the Nordic country’s lengthy border with Russia

Fortescue will proceed with its first three projects under the iron ore group’s ambitious plans to become a major force in hydrogen and renewable energy, giving a green light to $US750 million ($1.14 billion) in investments.

The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash.

By Duncan Miriri

Bitcoin (BTC) wallet and payment platform Strike has partnered with Checkout.com to enable debit-card-based Bitcoin purchases in over 65 countries.

As countries meet in Nairobi to negotiate a treaty aimed at cutting plastics pollution, one of the tools that's been discussed is plastic credits

Narendra Modi on Friday made plain his views on the ongoing conflict between Israel and Hamas, stating India strongly condemns civilian deaths arising from the devastating war. Speaking at the second edition of the Voice of Global South Summit in New Delhi, which saw leaders of Mauritius, Bangladesh, Indonesia, Ethiopia, Kenya and Kyrgyzstan, among others, in attendance, Modi said: “India has condemned the heinous terror attacks in Israel on 7 October. We have urged restraint along with dialogue and diplomacy.

By Duncan Miriri

One of the world’s biggest exporters of fossil fuels, the United Arab Emirates, is attempting to position itself as a leader in establishing global carbon markets as it prepares to host annual United Nations climate talks this month. Those efforts are coming under scrutiny as a company owned by one of the U.A.E.’s royal families prepares to secure rights to produce carbon credits from a giant expanse of African forest.

Efforts to create a landmark treaty to end global plastic pollution are advancing at a meeting where participants are discussing the treaty's draft language for the first time