Category: Finance News

August 6, 2019 0

Privacy watchdogs warn Facebook over Libra currency

By mykenyancareers

SYDNEY, Australia, Aug 6 – Global privacy regulators joined forces Tuesday to demand guarantees from Facebook on how it will protect users’ financial data when it launches its planned cryptocurrency, Libra. The watchdogs from Australia, the US, EU, Britain, Canada and other countries issued an open letter calling on Facebook to respond to more than … Continue reading “Privacy watchdogs warn Facebook over Libra currency”

August 6, 2019 0

Equity appoints veteran insider as MD following Igathe’s resignation

By mykenyancareers

NAIROBI, Kenya, Aug 6 – Equity Bank Kenya, a subsidiary of Equity Group Holdings Plc announced the appointment, Monday, of its long serving Director, Gerald Warui as its 4th Managing Director in its 35-year history. This follows the board’s acceptance of the resignation of Polycarp Igathe who leaves the position at the end of August. … Continue reading “Equity appoints veteran insider as MD following Igathe’s resignation”

August 5, 2019 0

Kenya’s trade deficit jumped to Sh101.6 billion in April

By mykenyancareers

NAIROBI, Kenya, Aug 5 – Kenya’s reliance on imported products from international markets continues with Capital Markets Authority noting a jump in trade deficit to Sh101.6 billion in April 2019 from Sh100 billion in the same month a year ago. Exports advanced by 0.5 percent to Sh43.4 million while imports increased by 0.2 percent to … Continue reading “Kenya’s trade deficit jumped to Sh101.6 billion in April”

August 2, 2019 0

Latest Trump tariffs to directly hit consumers

By mykenyancareers

NEW YORK, United States, Aug 2 – Earlier US tariffs enacted in President Donald Trump’s trade war with China have dealt only a glancing blow to consumers, but those announced Thursday are different. “This hits consumers straight on,” Steve Pasierb, president of the Toy Association, said in an interview. “This is finished products. It’s not … Continue reading “Latest Trump tariffs to directly hit consumers”

August 2, 2019 0

Trump targets China with tariffs on $300bn in goods

By mykenyancareers

WASHINGTON, United States, Aug 1 – US President Donald Trump announced Thursday he will hit China with punitive tariffs on another $300 billion in goods, prompting Beijing to warn it was the wrong way to resolve the trade war. Trump’s move jolted US and Asian stock markets and came just a day after US and … Continue reading “Trump targets China with tariffs on $300bn in goods”

August 1, 2019 0

Mobile banking takes over transactions at Equity

By mykenyancareers

NAIROBI, Kenya, Aug 1 – Most of Equity Group’s transactions were conducted on mobile in the last six months, confirming the extent of digital disruption in Kenya. The bank’s mobile transactions rose to 77.4 percent, compared to 76.4 percent recorded during a similar period a year earlier. The bank’s Eazzy app transactions growing by 28 percent … Continue reading “Mobile banking takes over transactions at Equity”

July 31, 2019 0

KCB Kenya customers to interact with bank on WhatsApp

By mykenyancareers

NAIROBI, Kenya, Jul 31 – Kenya Commercial Bank Kenya customers will now be able to interact with the bank via the popular messaging service WhatsApp. The bank says the move will create a centralized communication hub for KCB digital customer care interactions. It will also allow the Bank to effectively leverage the most-used messaging systems … Continue reading “KCB Kenya customers to interact with bank on WhatsApp”

July 26, 2019 0

Twitter delivers strong user growth; stock surges

By mykenyancareers

WASHINGTON, United States, Jul 26 – Twitter shares vaulted higher Friday after a second-quarter update showed better-than-expected revenues and growth in users even as the social network cracks down on fake accounts and inappropriate content. The short messaging service said profit rose to $1.1 billion, lifted by a one-time tax benefit, up from $100 million … Continue reading “Twitter delivers strong user growth; stock surges”

July 26, 2019 0

Branch raises fourth commercial paper of Sh500mn

By mykenyancareers

NAIROBI, Kenya, Jul 26 – Digital financial service provider Branch International has issued its fourth commercial paper of Sh500 million. According to the company, the investment will be used to expand its services in Kenya. The issuance come after the firm announced it had repaid its third commercial paper of Sh500 million. The latest funding … Continue reading “Branch raises fourth commercial paper of Sh500mn”

July 25, 2019 0

Facebook firm in its quest to launch Libra cryptocurrency

By mykenyancareers

SAN FRANCISCO, United States, Jul 25 – Facebook chief executive Mark Zuckerberg on Wednesday reaffirmed his commitment to the social network’s quest to launch Libra cryptocurrency despite pushback from governments and critics. Facebook last month unveiled plans for Libra in an announcement that sparked fears of the unintended consequences of a loosely supervised global currency. … Continue reading “Facebook firm in its quest to launch Libra cryptocurrency”