Category: Finance News

April 4, 2020 0

Eurozone could put up 240 bn euros in virus aid: head

By mykenyancareers

BRUSSELS, Belgium, Apr 4 – The eurozone’s rescue fund could offer up to 240 billion euros to help member countries hit badly by the coronavirus outbreak, the head of the single currency group said. Mario Centeno, who is also Portugal’s finance minister, said the funds would be made available via the European Stability Mechanism (ESM), […]

March 30, 2020 0

Asia Virus Latest: Markets Fall, Aussies In Quarantine

By mykenyancareers

Singapore, Singapore, Mar 30 – Here are the latest developments in Asia related to the novel coronavirus pandemic: – Markets resume sell-off – Asian markets fell following a steep drop on Wall Street as the jubilation from last week’s enormous US stimulus package faded and investors returned their attention to the soaring infection and death […]

March 20, 2020 0

CBK releases Sh7.4 Bn to support fight against Coronavirus

By mykenyancareers

NAIROBI, Kenya, Mar 20 – The Central Bank of Kenya (CBK) has today released Sh7.4 billion to support Government efforts to contain the spread of Coronavirus in the country.  Speaking at State House, Nairobi, during President Kenyatta’s meeting with the private sector, CBK Governor Dr Patrick Njoroge said the money was gained from the mop-up […]

March 17, 2020 0

Asian Markets Swing After Virus Sparks Wall St Collapse

By mykenyancareers

Hong Kong, China, Mar 17 – Asian markets fluctuated Tuesday after Wall Street suffered its worst day in more than three decades with coronavirus panic sweeping the planet, though European equities enjoyed an early bounce. While governments and central banks attempt to soothe markets with massive stimulus pledges and interest rate cuts, more countries are […]

March 14, 2020 0

US to spend $50 billion, buy oil amid virus economic pain

By mykenyancareers

Washington, United States, Mar 14 – With the economy reeling, US President Donald Trump on Friday declared a national emergency to stem the damage from the coronavirus, unlocking $50 billion in federal spending while also unveiling plans to stockpile oil and waive interest payments on student loans. Hours later, House Democratic leader Nancy Pelosi announced […]

February 21, 2020 0

23 staff cost Sanlam Sh53 mn in Voluntary Early Retirement program

By mykenyancareers

NAIROBI, Kenya, Feb 21 – Listed financial services firm Sanlam Kenya incurred a cost of Sh53 million to compensate the staff aged 50 years and above that it fired through the Voluntary Early Retirement (VER) Program. Sanlam Kenya Chief financial Officer Kevin Mworia said the 23 workers were approved for the VER and redundancy package … Continue reading “23 staff cost Sanlam Sh53 mn in Voluntary Early Retirement program”

February 10, 2020 0

Barclay Bank begins trading as Absa Bank Kenya following official name change

By mykenyancareers

NAIROBI, Kenya, Feb 10 – Barclays Bank of Kenya has officially changed its name to Absa Bank Kenya PLC, a year and a half after Absa Group bought a controlling stake at the bank’s parent company Barclay Africa, prompting the name change. The newly rebranded bank has also kicked off trading activities at the Nairobi … Continue reading “Barclay Bank begins trading as Absa Bank Kenya following official name change”

January 23, 2020 0

US Treasury Secretary advises Greta Thunberg to ‘go study’

By mykenyancareers

DAVOS, Switzerland, Jan 23 – US Treasury Secretary Steven Mnuchin on Thursday advised climate activist Greta Thunberg, who has been bitterly critical of US policy at the World Economic Forum, to study economics before giving out lessons. Asked about the Swedish 17-year-old’s demand for an immediate halt to investment in fossil fuels, he told reporters: … Continue reading “US Treasury Secretary advises Greta Thunberg to ‘go study’”

January 22, 2020 0

Virus fears infect global markets

By mykenyancareers

NEW YORK, United States, Jan 22 – Asian stock markets slumped Tuesday as a SARS-like virus taking hold in China spooked investors, while sentiment suffered a knock also from a credit-ratings downgrade to major financial hub Hong Kong. Most European and US markets followed Asia lower after Hong Kong slumped 2.8 percent by the close … Continue reading “Virus fears infect global markets”