Category: firms
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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…
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Electric car makers and heat pump firms ‘deserve net zero tax break’
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The Confederation of British Industry (CBI) has urged Chancellor Rachel Reeves to deliver significant tax cuts for manufacturers of electric cars, heat pumps and biofuels to accelerate the UK’s path to net zero. The business group is calling for the corporate tax rate on companies operating in these sectors to…
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StanChart, KCB top in Sh78bn banks’exposure in State firms
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Standard Chartered Bank Kenya (StanChart) and KCB Bank Kenya top the list of banks having loan exposure worth Sh78.2 billion in government entities as of end-June 2024. The latest disclosures from the National Treasury show that Standard Chartered Bank has the highest exposure, lending Sh16.62 billion at the end of…
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StanChart, KCB top in Sh78bn banks’exposure in State firms
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Standard Chartered Bank Kenya (StanChart) and KCB Bank Kenya top the list of banks having loan exposure worth Sh78.2 billion in government entities as of end-June 2024. The latest disclosures from the National Treasury show that Standard Chartered Bank has the highest exposure, lending Sh16.62 billion at the end of…
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Ketraco rejects law firm’s push for information on Adani deal
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Ketraco refused to publicly disclose the terms of the contract agreement it signed with the Indian Adani Group to build three transmission lines and two substations. The state-owned company rejected an attempt by a city law firm, IC Law LLP, to make public details of the financial position of the…
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Italian prosecutors accuse 7 people, 2 firms over flawed Boeing plane parts By Reuters
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Written by Francesca Landini MILAN (Reuters) – Italian prosecutors on Saturday charged seven people and two subcontractors with crimes including fraud and violating aircraft safety rules after an investigation into suspected defective parts produced by an Italian company for Boeing (NYSE:). Prosecutors began their investigation in late 2021 after Boeing…
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Innovate UK urged to shift focus from grants to strategic investments in tech firms
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Innovate UK’s incoming interim chief executive, Stella Pace, is being encouraged to transform the £1.1bn-a-year innovation agency into a more investment-focused body, according to Cambridge University-based entrepreneur Euan Kirk. Kirk, who also serves on the board of BAE Systems and heads Deeptech Labs in Cambridge, suggests Innovate UK should move…
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Innovate UK urged to shift focus from grants to strategic investments in tech firms
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Innovate UK’s incoming interim chief executive, Stella Pace, is being encouraged to transform the £1.1bn-a-year innovation agency into a more investment-focused body, according to Cambridge University-based entrepreneur Euan Kirk. Kirk, who also serves on the board of BAE Systems and heads Deeptech Labs in Cambridge, suggests Innovate UK should move…
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Strategies and Solutions for Firms
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The Cryptocurrency Trading Contest is establishing itself as a noteworthy event in the trading scene. Depending on the nature of the enterprise, whether it is a new business or a competitor already existing in the market, these competitions have both prospects and risks. However, to what extent can companies –…
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Revealed: Half of firms fail to pay corporate tax
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Nearly half of active companies that filed annual returns in the year through June did not pay taxes on corporate profits, indicating worsening losses and an increasing prevalence of tax avoidance schemes. Statistics obtained from the Kenya Revenue Authority (KRA) show that 171,585 of the 341,793 companies that filed their…
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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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Asia FX firms as dollar steadies before Powell, inflation cues By Investing.com
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Most Asian currencies rose on Thursday while the dollar held steady ahead of further signals on interest rates, particularly from Federal Reserve Chairman Jerome Powell’s speech later in the day. The Chinese yuan extended gains after hitting a 16-month high as traders took comfort from Beijing’s stimulus measures earlier this…
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Euro firms against dollar, yuan jumps on China’s stimulus boost By Reuters
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By Ray Wee and Linda Pasquini LONDON/SINGAPORE (Reuters) – The euro edged up against the dollar on Wednesday while the yuan hit its strongest level in more than a year as China’s aggressive stimulus package provided the latest boost to risk appetite. The US dollar – the traditional safe-haven currency…
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Oil firms evacuating US Gulf of Mexico staff as major hurricane looms By Reuters
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HOUSTON (Reuters) – U.S. oil producers scrambled on Monday to evacuate employees from oil platforms in the Gulf of Mexico as the second major hurricane in two weeks was expected to hit offshore oil fields. A potential tropical cyclone in the Caribbean is expected to rapidly strengthen over the warm…