Category: Finance News

August 16, 2019 0

Thailand earmarks $10 billion for ‘urgent economic stimulus’

By mykenyancareers

The once-vibrant Southeast Asian economy sagged after a 2014 coup and growth slowed to 2.8 percent in the first quarter of this year, the first time it dipped under 3 percent since mid-2015, according to the World Bank. The generals who seized power steered a transition to civilian rule after disputed elections in March but … Continue reading “Thailand earmarks $10 billion for ‘urgent economic stimulus’”

August 16, 2019 0

CBK warns against unlicensed forex dealers

By mykenyancareers

NAIROBI, Kenya, Aug 16- Central Bank of Kenya (CBK) has warned Kenyans against dealing with unlicensed and unregulated online forex dealers. In a statement, CBK said it had noticed the existence of fraudsters in the sector where Kenyans risk being conned. “The attention of CBK has been drawn to the unlicensed and unregulated online forex … Continue reading “CBK warns against unlicensed forex dealers”

August 14, 2019 0

KRA collected 1.58 trillion in FY2018/19, doubled growth over the last 7 years

By mykenyancareers

NAIROBI, Kenya, Aug 14 – Kenya Revenue Authority collected Sh1.580 Trillion in revenues in the 2018/2019 financial year, to mark doubled growth over the last seven years when it collected Sh707 billion in the 2011/12 financial year. According to the taxman, exchequer revenue grew by 11.5 percent with a collection of Sh1, 477 Trillion against … Continue reading “KRA collected 1.58 trillion in FY2018/19, doubled growth over the last 7 years”

August 14, 2019 0

KRA targeting to indict 600 tax evaders in new financial year

By mykenyancareers

NAIROBI, KENYA, Aug 14-Kenya Revenue Authority is targeting to prosecute 600 tax evaders in 2019/2020 finance year. The number has more than doubled with 222 cases flagged in the last financial year. KRA Deputy Commissioner for Investigation and Enforcement Edward Karanja said they have devised a new mechanism that will help catch tax cheats in … Continue reading “KRA targeting to indict 600 tax evaders in new financial year”

August 14, 2019 0

KRA’s new automated clearing system nets Sh65mn from clinker cargo at Mombasa

By mykenyancareers

NAIROBI, Kenya, Aug 14 – The Kenya Revenue Authority (KRA) has cleared 43,400.835 metric tonnes of clinker at the Port of Mombasa since the adoption of the Integrated Customs Management System (iCMS). KRA Commissioner, Customs and Border Control Kevin Safari said the vessel transporting the consignment, MV Ptolomeos, docked at the Port of Mombasa at … Continue reading “KRA’s new automated clearing system nets Sh65mn from clinker cargo at Mombasa”

August 11, 2019 0

NBK shareholders urged to swap shares for KCB’s ahead of looming takeover

By mykenyancareers

NAIROBI, Kenya, Aug 11 – Holders of National Bank of Kenya (NBK) shares have been asked to swap them for Kenya Commercial Bank (KCB) shares. In an advertisement placed on local dailies, KCB promises NBK shareholders an average return of over 20 percent on equity. This comes ahead of a looming takeover of cash strapped … Continue reading “NBK shareholders urged to swap shares for KCB’s ahead of looming takeover”

August 10, 2019 0

Govt gives Nakuru another Sh45mn for pyrethrum seed propagation

By mykenyancareers

Agriculture Cabinet Secretary Mwangi Kiunjuri said the monies will be released next week adding that the government decided to inject cash in seed propagation because it was the most expensive and vital part the sector’s revival. “Many farmers have said that it is very expensive to get seeds and the national government has decided to … Continue reading “Govt gives Nakuru another Sh45mn for pyrethrum seed propagation”

August 10, 2019 0

IMF warns increasing US tariffs could cut China growth sharply

By mykenyancareers

WASHINGTON, United States, Aug 10 – China’s economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday. The International Monetary Fund trimmed its growth forecast for China to 6.2 percent this year, assuming … Continue reading “IMF warns increasing US tariffs could cut China growth sharply”

August 6, 2019 0

KRA key tax heads register subdued growth in last financial year

By mykenyancareers

NAIROBI, Kenya, Aug 6 – Kenya Revenue Authority (KRA) major revenue generators registered slow growth in last financial year. According to the tax man 2018/2019 financial report, one of the leading tax sectors domestic tax revenue rose. “Domestic Excise the tax head, which grew by 12.3per cent is a volume driven tax and dependent on … Continue reading “KRA key tax heads register subdued growth in last financial year”

August 6, 2019 0

China opposes ‘currency manipulator’ label

By mykenyancareers

BEIJING, China, Aug 6 – China’s central bank said Tuesday it is “resolutely opposed” to the United States labeling Beijing a currency manipulator a day after it let the yuan weaken significantly against the dollar. China’s central bank steadied the yuan on Tuesday, but stock markets continued to fall. The US Treasury Department on Monday … Continue reading “China opposes ‘currency manipulator’ label”