Category: Finance News

December 5, 2019 0

Japan unveils $120 billion stimulus package

By mykenyancareers

TOKYO, Japan, Dec 5 – Japanese Prime Minister Shinzo Abe unveiled $120 billion in stimulus measures on Thursday, to help the world’s third largest economy overcome the aftermath of the nation’s recent natural disasters. The package is also aimed at helping the nation alleviate the impact of last month’s tax hike and survive a potential … Continue reading “Japan unveils $120 billion stimulus package”

December 4, 2019 0

United Airlines orders 50 Airbus aircraft to replace Boeing 757s

By mykenyancareers

New York, United States, Dec 4 – United Airlines said Tuesday it had ordered 50 Airbus A321XLR aircraft, worth an estimated $6.5 billion, to replace an existing fleet of aging Boeings. The new Airbus planes, to be delivered starting 2024, will allow United to retire its Boeing 757-200s, the company said. The Airbus order is … Continue reading “United Airlines orders 50 Airbus aircraft to replace Boeing 757s”

December 2, 2019 0

HF Group to set up 1,562 affordable housing units in new pact with real estate firm

By mykenyancareers

NAIROBI, Kenya, Dec 2 – HF Group has signed a partnership with Tecnofin Kenya Limited to provide 1,562 affordable housing units in the city’s Pangani estate under the Nairobi Urban Renewal Affordable Housing project. The proposition for the partnership includes end-user financing, sales, and marketing of the project consisting of one, two- and three-bedroom apartments … Continue reading “HF Group to set up 1,562 affordable housing units in new pact with real estate firm”

December 2, 2019 0

Jumia shuts down operations in Tanzania in bit to cost-cutting measures

By mykenyancareers

NAIROBI, Kenya, Dec 2 – E-commerce operator Jumia has announced plans to shut down its operations in Tanzania, a week after it closed in Cameroon. In a statement dated December 1, Jumia said it was cutting its costs since it was expanding in larger African markets that have the potential for e-commerce to be successful. … Continue reading “Jumia shuts down operations in Tanzania in bit to cost-cutting measures”

November 27, 2019 0

Scope Markets unveils online forex trading portal

By mykenyancareers

NAIROBI, Kenya, Nov 27 – The possibilities in income generation in the online forex trading market is now a click away. Scope Markets, a licensed foreign currency trading platform, is now live and Kenyans have actively begun trading in online forex. Prior to the formal launch, the company has more than 1000 accounts already opened, … Continue reading “Scope Markets unveils online forex trading portal”

November 25, 2019 0

Family Bank posts Sh1.01bn profit in 9 months

By mykenyancareers

The growth has been attributed to high loans, increased customer deposits, and growth in operating income/FILE NAIROBI, Kenya, Nov 25–Family Bank has recorded an Sh1.01 billion profit before tax in the nine months of 2019, from the Sh269.9 million posted in the same period in 2018. The loan book grew by Sh4.7 billion to hit … Continue reading “Family Bank posts Sh1.01bn profit in 9 months”

November 23, 2019 0

CBA does the heavy lifting as recently merged NCBA announces 3Q19 results

By mykenyancareers

NAIROBI, Kenya, Nov 23 – NIC Group and CBA banks have released 3Q19 results separately for the last time; following the merger which took effect on 30 September, 2019. Analysts at Standard Investment bank (SIB) have combined the numbers to get a sense of how the combined entity, NCBA, would look like once the transaction … Continue reading “CBA does the heavy lifting as recently merged NCBA announces 3Q19 results”

November 22, 2019 0

ECB’s Lagarde tells eurozone to ‘innovate and invest’

By mykenyancareers

FRANKFURT AM MAIN, Germany, Nov 22 – Christine Lagarde on Friday urged European countries to “innovate and invest” more to support growth at a time of global uncertainty, in her first major policy speech as president of the European Central Bank. The ECB’s ultra-loose monetary policy would “achieve its goal faster and with fewer side … Continue reading “ECB’s Lagarde tells eurozone to ‘innovate and invest’”

November 22, 2019 0

China wants US trade deal but ‘not afraid’ to fight: Xi

By mykenyancareers

BEIJING, China, Nov 22 – President Xi Jinping said Friday that China wants to reach an initial trade deal with the United States but is “not afraid” to fight back when necessary and will enact economic reforms at its own pace. It is rare for Xi to speak so directly about the trade war, and … Continue reading “China wants US trade deal but ‘not afraid’ to fight: Xi”

November 20, 2019 0

Sidian Bank gets Sh2bn injection from Dutch Entrepreneurial Development Bank

By mykenyancareers

NAIROBI, Kenya, Nov 20 – Sidian Bank has secured financing from The Dutch Entrepreneurial Development Bank (FMO), a development bank that will see the financial institution receive a US$20 million, 5-Year loan facility as part of the strategy to grow the bank to Tier 2 status. The additional funding will support the bank’s growth plans … Continue reading “Sidian Bank gets Sh2bn injection from Dutch Entrepreneurial Development Bank”