Category: blocked
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Widow’s illegal ‘takeover’ of giant laundry firm blocked
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The High Court has barred a widow from taking over the management of a family-owned laundry business worth Sh70 million in Nairobi. Justice Freda Mugambi said Kiran Harilal Rajput illegally declared herself a director of Capitol Laundry Limited after the death of her husband Harilal Durga Das Rajput and his…
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Trump’s desire to trash the US dollar could be blocked by the Fed & China
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Kenya, IMF fallout deepens as State firms’ sale blocked
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A Supreme Court ruling declaring the Privatization Act 2023 unconstitutional appears set to further complicate Kenya’s efforts to secure more than Sh77.5 billion in fresh funding from the International Monetary Fund. The IMF had partly linked the financing plan to a comprehensive overhaul of state-owned enterprises, including the sale and…
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KQ seeks State’s help over Sh1.5bn blocked in Ethiopia
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Kenya Airways is seeking to release more than Sh1.5 billion frozen in Ethiopia due to foreign exchange restrictions that have seen the company struggle to repatriate profits amid a severe dollar crunch. CEO Alan Kilavuka told Daily business The governments of Ethiopia and Kenya are in talks to ease a…
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Mwananchi Credit blocked from selling seized lorries in Sh9.2m row
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Mwananshi Credit has failed in its attempt to lift an injunction preventing the small lender from selling two trucks owned by two dealers that were seized because of a disputed loan. High Court Judge Kizito Magari has upheld the Milimani Magistrate’s injunction restraining the micro-lender from selling the two trucks…