Category: firms
-
Electric car makers and heat pump firms ‘deserve net zero tax break’
•
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…
-
StanChart, KCB top in Sh78bn banks’exposure in State firms
•
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…
-
StanChart, KCB top in Sh78bn banks’exposure in State firms
•
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…
-
Ketraco rejects law firm’s push for information on Adani deal
•
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…
-
Italian prosecutors accuse 7 people, 2 firms over flawed Boeing plane parts By Reuters
•
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…
-
Innovate UK urged to shift focus from grants to strategic investments in tech firms
•
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…
-
Innovate UK urged to shift focus from grants to strategic investments in tech firms
•
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…
-
Strategies and Solutions for Firms
•
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 –…
-
Revealed: Half of firms fail to pay corporate tax
•
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…
-
Kenya, IMF fallout deepens as State firms’ sale blocked
•
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…
-
Asia FX firms as dollar steadies before Powell, inflation cues By Investing.com
•
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…
-
Euro firms against dollar, yuan jumps on China’s stimulus boost By Reuters
•
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…
-
Oil firms evacuating US Gulf of Mexico staff as major hurricane looms By Reuters
•
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…
-
Oil firms evacuating US Gulf of Mexico staff as major hurricane looms By Reuters
•
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…
-
GMB calls for government to prioritise union-friendly firms in public contracts
•
GMB, one of the UK’s largest trade unions, is urging the government to favor businesses that recognize trade unions when awarding public contracts. The call comes after revelations that Amazon secured £1 billion in government contracts despite allegations of “union-busting” practices. At the Labor Party conference today, GMB will push…
-
Russia discussing hefty hike in ‘exit tax’ for foreign firms, RBC reports By Reuters
•
MOSCOW (Reuters) – Russian authorities are discussing increasing the one-time contribution foreign companies leaving the country must make to the state budget to 40 percent from 15 percent, the RBC daily reported on Friday, citing four sources. Russia has steadily tightened exit requirements for foreign companies since Western sanctions were…
-
Asia FX rises as rate cut dents dollar; yen firms as BOJ holds course By Investing.com
•
Most Asian currencies rose on Friday, while the dollar suffered losses after the Federal Reserve cut interest rates by a wide margin and began an easing cycle. The Japanese yen was among the best performing currencies, rising after the Bank of Japan kept interest rates on hold and said it…
-
Government targets large firms in crackdown on late payments to small businesses
•
The UK government is set to introduce new measures aimed at tackling the problem of late payments by large companies to small businesses, which contributes to the collapse of 50,000 small and medium-sized businesses every year. On average, late payments cost small businesses £22,000 a year, according to research by…
-
Asia FX firms, yen strong as dollar retreats on bets of bigger rate cut By Investing.com
•
Asian currencies rose on Tuesday, with the Japanese yen nearing a 2024 high as the dollar retreated amid growing bets that the Federal Reserve will cut interest rates by a wide margin this week. Regional trading volumes were subdued due to holidays in markets in China and South Korea. Anticipation…