Macharia Kamau - The Standard

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NEWS & CURRENT AFFAIRS

Digital News

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Macharia Kamau

Budget Office faults State's economy plan

Parliamentary Budget Office cautions increased taxes may lower KRA revenue, warns of possible slower growth and reversal of some Finance Act measures

Budget Office faults State's economy plan

Young CEO flies high after Ruto drives her electric car

Young CEO flies high after Ruto drives her electric car

More pain as Treasury trains eyes on farmers with new tax

More pain as Treasury trains eyes on farmers with new tax

Low-income households hit hardest as fuel prices shoot to all-time high

Low-income households hit hardest as fuel prices shoot to all-time high

Treasury plans to further raid your pockets in next four years

Treasury is considering increasing the VAT rate from the current 16 per cent to 18 per cent as it seeks to harmonise its rate to be at par with those of other countries in the EAC.

Treasury plans to further raid your pockets in next four years

Kenya Power sets eyes on electric fleet but fuel hangover lingers

Firm invites tenders for supply of fossil fuel-powered as well as electric vehicles, says move to green transport will increase electricity sales and reduce operational costs.

Kenya Power sets eyes on electric fleet but fuel hangover lingers

Sakaja's tax wrath on city hustlers

County's Finance Bill proposes new charges for new services including street preachers tax, and Sh10,000 per hour for artists recording at the city parks.

Sakaja's tax wrath on city hustlers

Questions on electric vehicle industry as State pushes uptake

The local automotive sector appears set for a radical shift, with the transition from the fossil fired engine motor vehicles to electric ones gathering momentum.

Questions on electric vehicle industry as State pushes uptake

Private sector activity on the up for the first time in seven months

The Stanbic Bank’s Purchasing Managers Index (PMI) shows there was an improvement in the health of the private sector for the first time since January this year.

Private sector activity on the up for the first time in seven months

Manufacturers in court to block new tax curbing cheap imports

KMA says the Exports and Investment Levy will push up their cost of production. The levy, which kicked in on September 1, is meant to protect local clinker, steel and paper producers.

Manufacturers in court to block new tax curbing cheap imports

KQ profit: A story of success or illusion of sunshine?

KQ played up the fact that it had reported an operating profit for the first time in six years, which stood at Sh998 million in the six months to June this year from a loss of Sh5 billion last year.

KQ profit: A story of success or illusion of sunshine?

Counties to get Sh7.4b grants for climate action

Counties are set to receive Sh7.387 billion climate resilience investment grants from the Financing Locally-Led Climate Action (FLLoCA) Programme.

Counties to get Sh7.4b grants for climate action

Kenyans brace for impact as the second round of taxes hit home

Among those that will be hit beginning September 1 include players in the country’s digital economy and importers of steel and clinker that is used in the production of cement.

Kenyans brace for impact as the second round of taxes hit home

Britam's profit surges by over Sh1b despite economic gloom

Britam records 335 per cent rise in half-year earnings comes after years of corporate restructuring against the backdrop of new accounting standards meant to raise accountability.

Britam's profit surges by over Sh1b despite economic gloom

Sugar millers crushed by Sh117 billion debt

Mumias, South Nyanza (Sony), Chemilil, Miwani, Muhoroni and and Nzoia sugar companies currently owe the National Treasury Sh117 billion.

Sugar millers crushed by Sh117 billion debt

KQ loss widens to Sh21.7b due to forex, loan costs

KQ said the loss was due to a weak shilling that resulted in high foreign exchange losses as well as increase in the cost of repaying foreign currency-denominated loans.

KQ loss widens to Sh21.7b due to forex, loan costs

Blackout: Who does what in the power distribution chain

While clarity is yet to emerge as to what caused the outage last weekend, other major blackouts have been due to failure by major transmission lines that are owned by Ketraco.

Blackout: Who does what in the power distribution chain

Power outage rekindles debate on compensating consumers

Nandi Senator Samson Cherargei on Saturday said Kenya Power should compensate for loss of lives as well as losses incurred by businesses during the blackout.

Power outage rekindles debate on compensating consumers

NCBA profit up 20pc as Family Bank earnings dip to Sh1.4b

NCBA said its earnings from its digital business in Kenya, which includes Fuliza and M-Shwari, dropped to Sh821 million in the first half of this year from Sh1.8 billion over a similar half last year.

NCBA profit up 20pc as Family Bank earnings dip to Sh1.4b

State bets on Baringo fields to grow geothermal power

The government will next year competitively select power producers that will build electricity generating plants at the Baringo-Silali geothermal fields.

State bets on Baringo fields to grow geothermal power

One year on, hustlers feeling the heat of Ruto's bottom-up economic model

While analysts agree that subsidies are unsustainable, they argue that the higher taxes might hurt an economy that is yet to recover from the shocks of Covid-19 and the prolonged drought.

One year on, hustlers feeling the heat of Ruto's bottom-up economic model

Why going green is the best bet for SMEs

Energy transition is increasingly becoming easy due to the availability of affordable financing, with lenders now looking at the impact that the projects they are funding have on the environment.

Why going green is the best bet for SMEs

Sosian plant at Menengai feeds cheap power to national grid

The first power plant built at the geothermal fields of Menengai in Nakuru County started feeding electricity to the national grid last week.

Sosian plant at Menengai feeds cheap power to national grid

Consumers reduce super petrol consumption over high costs

The consumption of petrol dropped one per cent over the three months to March compared to a similar period last year, which it attributed to high cost of fuel.

Consumers reduce super petrol consumption over high costs

Why William Ruto's dalliance with Iran might not impress Israel and America

Raisi’s escapades in Africa and Latin America threaten Israeli-American geopolitical interests. By embracing Raisi, Ruto might appear to threaten those interests; not a good idea.

Why William Ruto's dalliance with Iran might not impress Israel and America

Fake cigarettes have captured 80pc of our market share, says Mastermind

Cigarette manufacturing company Mastermind Tobacco says it is the biggest loser in the illicit Tobacco trade on the market.

Fake cigarettes have captured 80pc of our market share, says Mastermind

Centum raises dividend payout despite posting Sh7 billion loss

The firm, which made a loss of Sh2 billion in the previous year, attributed the poor performance to its real estate subsidiary – Two Rivers Development — which reported a Sh7 billion loss.

Centum raises dividend payout despite posting Sh7 billion loss

Cotu: Revoke contracts of rogue power producers

Francis Atwoli said to lower the cost of power, the government should kick out IPPs and instead rely on State agencies such as KenGen for the production of power.

Cotu: Revoke contracts of rogue power producers

Minority shareholders of Kenya Power to get slots in the board

Treasury proposes changes in planned restructuring to be completed next year. Company is projected to make a Sh5.5 billion losses in the year ended June 2023.

Minority shareholders of Kenya Power to get slots in the board

IRA: Complaints against insurers rise as Monarch tops shame list

Of the 522 complaints that policyholders and insurance beneficiaries reported to IRA, a total of 83 were against Monarch Insurance’s general business.

By 2 months ago

IRA: Complaints against insurers rise as Monarch tops shame list

State silent on Kuria's exclusion from US meet

US Trade Representative Katherine Tai on Thursday met President William Ruto at the State House, and the CS was not part of the officials in the talks.

By 2 months ago

State silent on Kuria's exclusion from US meet

State to revoke 1,500 mining licences issued to 'speculators'

The government has revoked over 1,500 licences held by mining firms that had failed to meet the set conditions.

By 2 months ago

State to revoke 1,500 mining licences issued to 'speculators'

US Trade Representative steers clear of CS Moses Kuria

The United States Trade Representative Katherine Tai confirmed that she has not met with Trade and Investment Cabinet Secretary Moses Kuria during her trip to the country this week.

By 2 months ago

US Trade Representative steers clear of CS Moses Kuria

Waste of time? The futility of lawmakers' countless probes into rising power bills

Lawmakers have perennially investigated the country’s electricity sector, seeking causes and solutions to the high cost of power. They usually end up on a winding road that leads to nowhere.

By 2 months ago

Waste of time? The futility of lawmakers' countless probes into rising power bills

Auto dealer slams the brakes on State's vehicle leasing plan

Treasury was in May nearing the conclusion of the tender processes, having selected companies that would supply State entities with vehicles under the leasing programme

By 2 months ago

Auto dealer slams the brakes on State's vehicle leasing plan

Freeze on Finance Act and high tax targets put KRA in a tight corner

The taxman has a target to collect Sh2.57 trillion over the financial year to June 2024. The year is already off to a rough start following the freeze on the Finance Act 2023.

By 2 months ago

Freeze on Finance Act and high tax targets put KRA in a tight corner

MPs roast Epra for power tariff hike without their input

Energy Committee casts doubt Epra conducted public participation following high jump in power prices, says it might in future require the agency to first seek Parliament’s approval.

By 2 months ago

MPs roast Epra for power tariff hike without their input

Why fuel is always a low-hanging fruit for the taxman amid uproar

Every few years, the government finds a way to slap petroleum products with more taxes despite the protests that fuel is overtaxed and higher costs could be detrimental to the economy.

By 2 months ago

Why fuel is always a low-hanging fruit for the taxman amid uproar

NSSF payout to retirees falls 10pc amid rising contributions

The state pension scheme paid out Sh5.4 billion last year down from Sh5.8 billion a year earlier. This is after funds invested in equities reported zero returns during the period.

By 2 months ago

NSSF payout to retirees falls 10pc amid rising contributions

Tea billionaire faces auctioneer's hammer

Auctioneers have given notice that they plan to sell off DL Koisagat Tea Estate in Nandi County as well as a prime property in Mombasa that DL Group uses for handling and packaging tea for export.

By 2 months ago

Tea billionaire faces auctioneer's hammer

Fuel: Kenyans feel the pinch as their neighbours have an easy ride

A litre of super petrol is currently retailing at about Sh183.58 (1,517 Rwanda Francs) in Kigali. The Finance Act 2023 increased VAT on fuel to 16 per cent from the earlier eight per cent.

By 2 months ago

Fuel: Kenyans feel the pinch as their neighbours have an easy ride

Payslips to grow thinner as new taxes kick in this month

The housing levy has the biggest impact, reducing the take-home for employees by Sh1,350 with Kenyans feeling overtaxed with the new targets.

By 2 months ago

Payslips to grow thinner as new taxes kick in this month

Slap exposes ghosts of Kenya Power

Kitui East MP was caught on video reportedly assaulting a Kenya Power staff. Kenyans condemn the violence, but are quick to raise their issues with utility firm.

By 2 months ago

Slap exposes ghosts of Kenya Power

The true cost of new punitive tax measures on ailing job market

Job creation in Kenya might prove difficult over the coming year as employers move to cushion themselves from new taxes that will see labour costs shoot up by holding off hiring plans.

By 2 months ago

The true cost of new punitive tax measures on ailing job market

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