Category: firms
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Firms slash jobs at quickest rate in four years following budget tax hikes
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Companies shed jobs at the fastest pace in four years last month after rising staffing costs and growing uncertainty from the fall budget dented confidence, according to the latest S&P Global data. Excluding pandemic-era figures, the decline in headcount was the steepest in more than 15 years, with nearly a…
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Law firms APM and Dr. Eyal Bressler merge
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After a break of several months without a merger between major law firms, the first merger took place in 2025: the intellectual property firm of Dr. Eyal Pressler & Associates, merging with Amit Pollak Matalon & Associates (APM). Twelve attorneys and patent attorneys will join APM from Dr. Eyal Pressler…
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UK exporters face £27bn Brexit hit as smaller firms bear the brunt
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Small UK exporters have been hit hard by new post-Brexit barriers, contributing to a £27bn shortfall in goods sales to the EU since Britain left the bloc’s single market and customs union. Research by the Center for Economic Performance at the London School of Economics reveals that Brexit led to…
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Israeli defense firms beat world average in revenue growth
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The total revenues of the world’s 100 largest defense companies increased by 4.2% in 1,023 companies compared to the previous year. The list includes Israel’s three largest defense companies – Israel Aerospace Industries (IAI), Elbit Systems (TSX: ELST, Nasdaq: ELST), and Rafael Advanced Defense Systems – which saw combined revenues…
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Community lenders unlock £1bn to support small firms rejected by banks
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Small businesses in some of Britain’s most deprived areas are expected to benefit from £1bn in loans, thanks to a government-backed initiative by community finance organisations. The British Business Bank (BBB) has launched a £150 million, two-year plan to support community development finance institutions (CDFIs), which lend to businesses turned…
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Chinese chip firms say they can withstand new US export curbs
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Written by Eduardo Baptista and Heikung Yang BEIJING/SEOUL (Reuters) – Chinese chip companies targeted by Washington with new export controls have pledged to accelerate the localization of their supply chain and said they will be able to continue production thanks to recent efforts to build stockpiles of equipment. The latest…
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Government plans £100m annual levy on gambling firms to tackle harms
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Casinos and bookmakers across Great Britain are set to face a mandatory annual tax of £100 million to fund research, education and tackling gambling-related harms, under new government proposals expected to be announced soon. The move aims to replace the current voluntary donation system with a statutory tax, forcing gambling…
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Kenya Power drops plan for private firms to sell electricity in slums
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Kenya Power has dropped plans to tap private companies to connect customers in informal settlements and collect bills, following advice from the State Council and parent ministry. The company has now delegated the task to the state-owned Rural Electrification and Renewable Energy Corporation (Rerec), with Kenya Power tasked with ramping…
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Online taxis, food delivery firms, freelancers face hefty 6pc tax in new plan
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Ride-hailing services, online freelance jobs and food delivery companies face a tougher 6% tax, as the Treasury revived a proposal to raise revenue from these sources. In its new proposals, the Treasury proposed a new significant economic presence (SEP) tax at a rate of six percent, four times the 1.5…
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Solar boom sees 355 firms get Epra licences
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About 355 solar contractors, manufacturers and importers received production permits from the Energy and Petroleum Regulatory Authority (Epra) in the year to June 2024, indicating increased demand for solar services. As electricity prices continue to rise in Kenya, customers have increasingly turned to alternative sources of energy especially solar PV…
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Half of firms face delisting in secret owners crackdown
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More than half of the 794,741 companies registered in Kenya face the risk of delisting due to their failure to disclose the identities of secret shareholders who control more than 10% of the companies’ shares. As of last week, 50.28 percent or 399,595 registered businesses had not disclosed details, including…
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Insurance firms to benefit from banking competition proposals
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The Tel Aviv Stock Exchange (TASE) insurance index rose last Tuesday by 2.5%, well above the market’s modest gains. The reason for the jump in stock prices was the recommendation of the Supervisor of Banks, Daniel Hahiatishvili, in an interim report of a team he heads, to grant banking licenses…
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KCB to offer financial services to Dutch firms
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KCB Group has signed a deal to provide diversified financial services to Dutch companies entering the Kenyan market in a major boost for the country’s largest bank. On Wednesday, KCB Group signed a memorandum of understanding with Dutch company Invest International to establish the Dutch office. “The new platform will…
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BBG: US weighs capping AI chip sales from Nvidia, AMD, other US firms to some countries
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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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KRC ordered not to interfere with logistics firm’s tenancy
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The Kenya Railways Corporation (KRC) should not interfere with the hiring of a logistics company at the Mombasa Port, pending the determination of the company’s petition. Environment and Lands Court judge Stephen Kibunya ruled that although KRC may compensate Jihan Freighters Limited for damages it has suffered or is likely…
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Asia FX firms slightly, dollar steady as CPI data looms By Investing.com
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Investing.com — Most Asian currencies rose slightly on Thursday, recovering some of recent losses, while the dollar held near a seven-week high ahead of key consumer inflation data. Regional currencies suffered losses over the past week amid growing doubts about the pace of future interest rate cuts by the Federal…