Category Archives: BUSINESS-FINANCE

Chairman to Gatumbi coffee factory Mr Kaihura wa Karanja attends one of his coffee trees  [Boniface Gikandi, Standard] The coffee auction netted Sh957.3 million in the weekly market after the sale of 18,138 bags that were bought by 12 dealers. The trading at the Nairobi Coffee Exchange (NCE) was low compared to the previous auction two weeks ago that achieved Sh1.1 billion from the sale of 21,636 bags. In the auction report, Kianjiru and Karumandi factories in Kirinyaga allied to Baragwi Farmers society achieved the highest price of Sh52,836 per bag and Sh52,706 per bag respectively after the produce was brokered by Alliance Berries Limited. Thikagiki farmers cooperative society in Kandara achieved Sh49,598 for each of its 17 bags of grade AA. Alliance Berries Limited delivered the large consignment of

Chinese enterprise software company Yonyou Network Technology has named Huang Chenhong – former global executive vice-president at German rival SAP – its new president, as the mainland’s tech sector scoops up talent from multinational firms that are scaling back operations in the country. Beijing -based Yonyou, a leading enterprise resource planning (ERP) software and cloud services provider in China, said in a statement that Huang’s leadership would help the company “capture strategic opportunities in digital transformation, the rise of domestic technology solutions and the global expansion of Chinese enterprises”. Huang, who had also served as president of SAP Greater China, left the German firm last October after the enterprise software giant announced plans to restructure its operations in the region. That entailed a merger of SAP’s Greater China business and

Ghana’s president, John Mahama, calls for stronger agricultural collaboration among countries and greater African control over natural resources. He said this during discussions with president Nangolo Mbumba in Accra this week. Mbumba attended Mahama’s inauguration as president and held talks with the Ghanaian president. The Presidency in a media statement on Thursday said the talks focused on shared priorities. “Africa must assert ownership and control over its natural resources to ensure sustainable development for its people,” Mahama said, adding that closer cooperation in agriculture could significantly benefit both nations. Mbumba, meanwhile, lauded Mahama’s leadership, saying: “Namibia is looking forward to learning from Ghana’s expertise, particularly in the agriculture, oil, and gas sectors. These are vital areas for strengthening our bilateral relations.” Mbumba congratulated Mahama on his election, describing it as

The Bank of Israel set the representative shekel-dollar rate down 0.248% from Monday, at NIS 3.627/$. By GLOBES/TNS JANUARY 9, 2025 14:20 New Israeli Shekel bills are seen in front of an upwards-trending graph (illustration) (photo credit: HADAR YOUAVIAN/FLASH90) The shekel is weakening sharply Wednesday against the US dollar and is firm against the euro. In afternoon inter-bank trading the shekel-US dollar exchange rate is up 1.40% at NIS 3.678/$, and the shekel-euro rate is up 0.16%, at NIS 3.782/euro. Yesterday, the Bank of Israel set the representative shekel-dollar rate down 0.248% from Monday, at NIS 3.627/$, and the representative shekel-euro rate was set 0.214% lower at NIS 3.775/euro. The dollar is strengthening worldwide after reports in the US that President-elect Donald Trump will declare a national economic emergency to

Man told he can’t recover £598m of Bitcoin from tip BBC James Howells tried to sue Newport council to gain access to the landfill site or receive £495m in compensation During the hearing in December the court heard how Mr Howells had been an early adopter of Bitcoin and had successfully mined the cryptocurrency. As the value of his missing digital wallet soared, Mr Howells organised a team of experts to attempt to locate, recover and access the hard drive. He had repeatedly asked permission from the council for access to the site, and had offered it a share of the missing Bitcoin if it was successfully recovered. Mr Howells successfully “mined” the Bitcoin in 2009 for almost nothing, and says he forgot about it altogether when he threw it

The China Development Bank has released a $254.76m (R4.83bn) loan to Nigeria for a railway project linking the two northern states of Kano and Kaduna, the bank said, ahead of a visit to the West African country by China’s top diplomat this week. As part of his annual New Year tour of Africa, China’s foreign minister Wang Yi will arrive in Nigeria on Wednesday and meet President Bola Tinubu and senior government officials on Thursday, Nigeria’s foreign affairs ministry said. Construction of the Kaduna-to-Kano rail project, which is expected to cost $973m (R18.44bn), has been slowed by funding delays. China Development Bank said in a statement on its website that the loan would provide financial support for the smooth progress of the 203km standard-gauge railway. “Once completed, it will provide

Rugby must learn to love its stars if an unprecedented push to break the United States is to succeed, according to the agents who represent some of the sport’s biggest names and America’s most influential entertainment figures. Roc Nation, which has Rihanna and Alicia Keys among the music stars on its roster, expanded into sport in 2013 and rugby specifically in 2019. The agency now represents South Africa’s two-time Rugby World Cup-winning captain Siya Kolisi, his Springboks team-mate Cheslin Kolbe, former world player of the year Ardie Savea and England trio Marcus Smith, Ellis Genge and Maro Itoje. “There are so many traditionalists still in the game that want to do things in the traditional way,” said Michael Yormark, president of Roc Nation Sports International. “But many people are beginning

Former NFL player Mark Clayton has secured $1 million for his LIVV Audio headphones. The $1 million funding from a $1.5 million seed round investment saw participation from an elite group of investors, including tennis legend Mark Knowles. The fresh funding will fuel LIVV Audio’s marketing, production, and innovation growth. Generating The Idea For LIVV Audio Clayton founded LIVV Audio, which offers high-performing headphones for athletes and fitness enthusiasts. The product was inspired by his experiences as an athlete. Drafted to the NFL in 2005 by the Baltimore Ravens, he penned a five-year deal valued at $8.2 million, according to Spotrac. Around 2008, he was among the many athletes sporting Beats headphones. Over the years, the former NFL player recalled breaking two pairs. Related Post: Aesthetic: Harvard Grad Spearheads AI

Economists talked to Business Insider about what they expect to happen in the job market this year. Getting a white-collar job could still be hard, and more people may have to return to the office. Changes under a new administration could affect hiring and turnover. Getting a job was tough for many Americans in 2024. If a career shift is your New Year’s resolution for 2025, you might still find it challenging. Job growth has slowed, unemployment has been historically low but rising, and unemployed Americans are staying jobless for longer. “Heading into 2025, it is going to be a little harder for job seekers across the board,” Cory Stahle, an economist at the Indeed Hiring Lab, said in December. “We’ve seen that just about every category on Indeed has

NAIROBI,Kenya, Jan 7—The Government is working towards increasing the contribution of blue economy value chains to the country’s Gross Domestic Product (GDP) from the current Sh37 billion to Sh80 billion annually by 2026. Deputy President Kithure Kindiki, speaking during a site visit to the Shimoni Fish Port project in Kwale on Tuesday, disclosed that the government’s long-term target is to achieve a GDP boost of Sh150 billion by 2027 through investments in the blue economy sector. Kindiki emphasized the critical role of the blue economy in achieving the Kenya Kwanza Bottom-Up Economic Transformation Agenda (BETA) Plan. “The Government is committed to empowering Kenyans by boosting livelihoods, creating jobs, and revitalizing critical value chains that contribute to wealth generation and overall economic development,” he said. The Sh2.6 billion Shimoni Fish Port

Indonesian President Prabowo Subianto has launched his flagship US$4.4 billion free-meal programme to combat child malnutrition and boost economic growth, but analysts warn its ambitious scope could strain state finances and logistics. Officially kicked off on Monday, the programme aims to provide nutritious meals to schoolchildren and, in time, extend its reach to toddlers, as well as expectant and new mothers. Its long-term vision encompasses slashing the number of people with stunted growth and bolstering the workforce of Southeast Asia’s largest economy. That will come at a cost, however. The government has earmarked 71 trillion rupiah (US$4.4 billion) for the programme’s initial roll-out this year. But the price tag is set to climb to more than US$24 billion annually if it is to meet its target of feeding 82.9 million

As 2025 kicks off, UrbanGeekz has rounded up a list of stellar startups that have the potential to accelerate to new heights this year. These businesses are simplifying cross-border logistics, reimagining shopping, and using AI to create industry-disrupting models. Led by dynamic founders and backed by investors, these ventures are poised (if all goes to plan) for continued success. They’re not just changing industries—they’re revolutionizing them by launching products that transform lives and empower communities worldwide to reach their full potential. Check out our list of eight ventures pushing the frontiers in the ever-evolving landscape of technology and innovation. Zimi: Audrey Djiya Founded by Audrey Djiya (CEO)  and Peter Nsaka (CTO) in 2023, Zimi is a cross-border commerce partner dedicated to simplifying global expansion for international brands. The Y Combinator

Arlan Hamilton, the founder of Backstage Capital, has announced her decision to step down from the company and take on an advisory role. “After 12 years of being deeply involved in the day-to-day operations, I’ve decided to become a chairperson and advisor,” she said in a statement shared on Instagram. Backstage Capital Enters New Chapter Arlan Hamilton’s Backstage Capital has invested in over 200 companies, including the fintech platform Guava, fashion tech brand Xo, digital news platform The Plug, and career resource Career Karma.  She was previously a managing partner at the firm. “This move will allow me to focus on what I do best — amplifying Backstage’s mission, hosting office hours with founders and investors, chairing the advisory board, and bringing new opportunities to the table through my platform.”

The leaders of Malaysia and Singapore are set to sign a long-delayed deal to establish the Johor-Singapore Special Economic Zone (JS-SEZ), a vast free-trade area allowing movement of skilled workers along one of the busiest borders in the world. Modelled after the Shenzhen Special Economic Zone, the JS-SEZ will provide tax breaks and ease the transit of goods and people between Johor and Singapore, which are separated by the 1km Causeway. The southern Malaysian state of Johor has ample land and resources, coveted by Singapore for its energy-hungry data centres, while the city state’s multinational firms have capital and skilled workers seeking footholds beyond the expensive land-starved financial hub. Johor is also desperate for an economic shot in the arm forecast to be worth nearly US $6 billion annually over