Oman Air, the national carrier of the sultanate of Oman, has launched direct flights to Nairobi covering four times weekly flight from Muscat in a move the airline says is part of its ambitious and dynamic programme of fleet and network expansion. The service will be operated by a Boeing 737-800 and will depart from Muscat on Monday, Tuesday, Thursday and Saturday, leaving at 1450 and arriving in Nairobi at 1855.
The Water Services Regulatory Board (Wasreb) is expected to include the 16 % VAT charge in water bills after Attorney-General Githu Muigai gave a legal opinion supporting the taxman’s position that sewerage services are not exempted from tax. As much as 75% of water bills is made up of sewerage costs, meaning that a new 16% increase will have a far-reaching impact on Kenyans
Kenya’s banking sector has attracted nine more banks from different countries after the Central Bank of Kenya (CBK) lifted a freeze on the licensing of new lenders. CBK governor Patrick Njoroge told the Press yesterday. He, however, did not disclose their names or their specific countries of origin.
Airtel Kenya has introduced a voice package that will cut call charges from its subscribers to rival networks like Safaricom by a third to Sh2 per minute in an effort to tap new subscribers. Airtel subscribers will be required to subscribe daily, weekly and monthly packages of Sh10, Sh50 and Sh150 respectively.
This week, three companies- Kapchorua Tea, Williamson Tea and Shelter Afrique have issued profit warnings. Profit warnings are issued when companies expect their year on year profits to fall by 25%. Other firms that have issued profit warnings for 2016 include; Mumias Sugar, Sameer Africa, Deacons, NSE, Sasini and Family Bank
Equity Bank will today receive Kshs 10.5 Billion loan European Investment Bank. The EIB has also pledged to support Kenya’s projects in the transport and power sector to the tune of Kshs 6.7 billion.
Treasury officials have downplayed the perception that despite the much vaunted economic growth, the effects are not being felt by ordinary Kenyans. "If you look at it from the expenditure side, expenditure is growing. In fact, it’s driving our GDP.
“Today, and I’m sure you have seen this, you open a mall like Two Rivers, Kenyans flock there to spend and they have not reduced in Galleria or in any other mall,”
“You can see people spending on the weekends, they are going to Dubai in huge numbers. Kenyans are the second largest visitors to Dubai, other than Indians. Where does this money come from? The middle class is growing,” Treasury officials said.
Surf and Facebook will officially launch Express WiFi by Facebook today in Ongata Rongai, Kajiado County. Just like Google’s Project, Project Loon, Facebook’s Express Wifi seeks to take the internet to the rural and remote areas, to help reach the 3.5 billion people in the World that remain unconnected to the internet.
The Express Wifi has a 10-day offer where users access 100MBs free daily package after which they are required to top up through recharge agents recruited in areas where it is available.
~ Good day and success in your endeavours ~ See you on Friday where we will analyse the budget.
I heard like the govt is considering abandoning regulation of interest rates. Apparently coz there’s slowed economic activity attributed to fewer loans being issued.
What govt doesn’t seem to understand is that this is a plot by the banks to force govt to submission.
My initial thought was the gaament should have empowered its own banks like consolidated bank to have very low interest rate forcing other commercial banks to come down too than to put a blanket judgement by passing a law that forced banks to lower rates