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Money matter – Finance

SGR pact with China a risk to Kenyan sovereignty, assets

By DAILY NATION Kenya’s key strategic assets at home and abroad will not be protected by “sovereignty” and risk being seized by the Chinese government should there be a default in repaying the Standard Gauge Railway loan, a copy of the contract seen by the Sunday Nation reveals. The initial agreement for the Mombasa-Nairobi railway…

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Many young professionals leaving Vancouver over high cost of housing

THE CANADIAN PRESS Iain Reeve and his wife moved from rental home to rental home in Vancouver but their final solution for secure housing was to move to Ottawa and buy two houses – one for them and another for his parents. He and his wife, Cassandra Sclauzero, are professionals in their mid-30s who wanted…

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Chinese retailers slash iPhone prices, say they aren’t worth the cost

After Apple lowered its first-quarter sales forecast, new iPhones have not been performing well in China and are being sold with steep discounts soon after their release. Sales of Apple’s latest top-of-the-line smartphones have reportedly been much worse than expected in the world’s largest smartphone market, CNBC reported. The cause of the reduced sales seems…

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Safaricom introduces M-Pesa transaction overdraft ‘Fuliza’

Safaricom will from next week introduce an overdraft facility for M-Pesa customers after M-Pesa and data services pushed up its half-year net profit by 20.22 per cent to Sh31.5 billion. The overdraft service known as Fuliza that was piloted in October, will enable customers to send money or pay for goods and services when they…

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US-China trade war takes toll on global manufacturing

By Reuters Factory activity weakened across much of Europe and Asia in December as the US-led trade war and a slowdown in demand hit production in many economies, offering little reason for optimism as the new year begins. A series of purchasing managers’ indexes for December released on Wednesday mostly showed declines or slowdowns in…

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Kenya among leading Comesa investor destinations – report

Cytonn Investment’s Amara Ridge in Karen /ENOS TECHE Kenya is among the Common Market for Eastern and Southern Africa (COMESA) countries that recorded notable increase in Foreign Direct Investment in 2017. The Comesa Investment Trend 2018 report released last week  shows Kenya recorded $671.7 million (Sh67.1 billion) in FDI last year, up from $393.3 million…

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