Agency cuts Victoria Bank’s credit rating
SUMMARY South Africa-based Global Credit Ratings (GCR) has downgraded the credit profile of Victoria Commercial Bank (VCB) Limited. GCR scaled down the lender’s long and...
Category : Business
Scangroup’s probe clears ex-CEO Bharat Thakrar
WPP Scangroup has closed an investigation against its former chief executive, Bharat Thakrar, without finding incriminating evidence, raising questions about the reliability of the information it...
UK’s Tesco keeps ban on Kakuzi avocados
SUMMARY Britain’s largest supermarket chain, Tesco is yet to reinstate avocado supplies by Kakuzi as it presses for compressive human rights reforms by the Murang’a-based...
Scangroup market cap falls Sh834m on former CEO dispute
SUMMARY The company’s share price closed at Sh5.54 on that day, assigning it a market capitalisation of Sh2.39 billion. The stock has lost more than...
Developer fights bank over Sh246m loan issued under Islamic banking laws
First Community Bank has been stopped from auctioning 19 apartments owned by one of its clients, who has accused the lender of violating Islamic banking...
Troubled Silverstone Air Returns As Directors Partners With Skyward And Githu Muigai For Renegade Air
Former Attorney General Prof Githu Muigai has partnered with Skyward Express and Silverstone Air directors to start Renegade Air, a new air transport company. According...
How banks doubled their profits in Covid-19 year
Local banks have in the last week been releasing their financial results for the first half of 2021, and the growth in their profitability at...
Irony of rich banks in an ailing economy
If you had Sh1,000 in August last year and used it to buy 30.3 Equity Bank shares, your stake in the lender would be worth...
Big blow to Shahbal as senators halt Buxton housing project
A Senate committee has suspended work on a Sh6 billion affordable housing project in Buxton, Mombasa, until evicted tenants’ grievances are resolved.null This is a...
Save prime hotels from ‘vultures’
Two major global hospitality brands, the InterContinental Hotel Group and the Hilton Group, plan to exit their investments in two of the oldest hotels in...