BusinessDailyMoney Markets /-/539552/539552/-/4mvsag/-/index.html Strong rand puts pressure on World Cup travel budget http://www.bdafrica.com/Strong%20rand%20puts%20pressure%20on%20World%20Cup%20travel%20budget%20/-/539552/881422/-/10obprn/-/index.html Kenyans planning to travel to South Africa for the Fifa World Cup final will have to revise their budgets upwards following the continued strengthening of the rand against the shilling — a situation that is making the country’s goods and services more expensive. 2010-03-17T21:00:00Z Shell’s exit plan raises questions about Kenya unit http://www.bdafrica.com/Shells%20exit%20plan%20raises%20questions%20about%20Kenya%20unit%20/-/539552/881430/-/yhn8sqz/-/index.html Questions over whether Kenya Shell will continue to operate in the country have deepened further after its parent company — Royal Dutch Shell — announced it would exit more than a third of its current fuel distribution and marketing operations. 2010-03-17T21:00:00Z IATA forecasts higher results for airlines in 2010 http://www.bdafrica.com/IATA%20forecasts%20higher%20results%20for%20airlines%20in%202010%20/-/539552/881432/-/hypa27z/-/index.html Global airlines are expected to record improved results in 2010 following strong passenger demand in the first months of this year, the International Air Transport Association (IATA) said. 2010-03-17T21:00:00Z Weaker euro signals difficult times for European companies http://www.bdafrica.com/Weaker%20euro%20signals%20difficult%20times%20for%20European%20companies%20/-/539552/881424/-/hacvhb/-/index.html It used to be easy to sum up the way European business executives viewed exchange rates: a strong dollar was good; a strong euro was bad. 2010-03-17T21:00:00Z Investment firm gears up for Old Mutual stake http://www.bdafrica.com/Investment%20firm%20gears%20up%20for%20Old%20Mutual%20stake%20/-/539552/880412/-/hwhf0x/-/index.html A locally incorporated company is preparing a bid to buy out small shareholders through the purchase of minority held shares in Old Mutual Life Assurance Company (OMLAC). 2010-03-16T21:00:00Z Coal imports planned for small power producers http://www.bdafrica.com/Coal%20imports%20planned%20for%20small%20power%20producers%20%20/-/539552/880428/-/px8ydnz/-/index.html The power trading unit of Tata Power Co Ltd, India’s largest private-sector utility, is looking to help arrange coal supplies from Australia, Indonesia and Africa for small power producers amid a growing shortage of the resource in India. 2010-03-16T21:00:00Z Mexico’s poor frown at Carlos Slim http://www.bdafrica.com/Mexicos%20poor%20frown%20at%20Carlos%20Slim%20/-/539552/880498/-/c0mivr/-/index.html Carlos Slim, the world’s richest man according to Forbes, has created hundreds of thousands of jobs in Mexico, but he also is seen to typify a business elite that amassed fortunes by exploiting the poor. 2010-03-16T21:00:00Z China says yuan not cause of big US trade surplus http://www.bdafrica.com/China%20says%20yuan%20not%20cause%20of%20big%20US%20trade%20surplus%20/-/539552/880418/-/r2v7om/-/index.html China on Tuesday shunned mounting US demands for a stronger yuan, saying again that its currency is not the cause of its big trade surplus and vowing to keep the currency stable to shore up exports. 2010-03-16T21:00:00Z Weaker Ugandan shilling poses threat to Kenya exports http://www.bdafrica.com/Weaker%20Ugandan%20shilling%20poses%20threat%20to%20Kenya%20exports%20/-/539552/880670/-/fa799t/-/index.html The continued weakening of the Ugandan shilling against the Kenyan currency and the US dollar is making it difficult for Kampala importers to buy Nairobi goods, threatening to slow down the growth of exports to the neighbouring country. 2010-03-16T21:00:00Z KenolKobil snaps up BP’s assets in five African states http://www.bdafrica.com/KenolKobil%20snaps%20up%20BPs%20assets%20in%20five%20African%20states%20/-/539552/879810/-/hdrqq/-/index.html KenolKobil plans to acquire assets of BP in five African countries, setting the stage for the oil firm to further grow its muscle in the highly competitive regional market. 2010-03-15T21:00:00Z Toyota assembly heralds shake-up in market http://www.bdafrica.com/Toyota%20assembly%20heralds%20shake%20up%20in%20market%20/-/539552/879818/-/x3vumaz/-/index.html Toyota East Africa plans to put up an assembly plant in Nairobi, a move likely to cause price realignments in the motor industry in the region. 2010-03-15T21:00:00Z Gold’s cross currency strength signals its rising insurance appeal http://www.bdafrica.com/-/539552/879808/-/6cl8b2/-/index.html Gold’s rally to record highs in euro and sterling terms and the resilience of spot prices in the face of a rising dollar is sign-posting the metal’s broadening insurance appeal, as sovereign debt fears shift to the fore. 2010-03-15T21:00:00Z New charges to push up cost of business in Kajiado towns http://www.bdafrica.com/New%20charges%20to%20push%20up%20cost%20of%20business%20in%20Kajiado%20towns%20/-/539552/879816/-/x2yj7bz/-/index.html Businesses owners and other residents of towns in Kajiado district will have to contend with a raft of new charges that are expected to raise the cost of doing business, increase rental charges and the price of land. 2010-03-15T21:00:00Z Uchumi investors face longer wait for bourse trade http://www.bdafrica.com/-/539552/878740/-/6ckiaq/-/index.html Investors whose money is locked up in Uchumi Supermarkets will have to wait much longer to trade their shares at the Nairobi Stock Exchange after the Capital Markets Authority maintained the retail chain’s application would be treated as a fresh listing. 2010-03-14T21:00:00Z Citibank boss explains IPO refunds delay http://www.bdafrica.com/Citibank%20boss%20explains%20IPO%20refunds%20delay%20/-/539552/878758/-/14v92n2z/-/index.html Citibank is holding Sh141.6 million belonging to investors who are yet to cash their cheques released after the conclusion of the Safaricom IPO in 2008. 2010-03-14T21:00:00Z IMF sees Africa shunning dependence for trade and prosperity http://www.bdafrica.com/IMF%20sees%20Africa%20shunning%20dependence%20for%20trade%20and%20prosperity%20/-/539552/878874/-/hsmpy3z/-/index.html Dominique Strauss-Kahn, the International Monetary Fund (IMF) managing director, recently visited Kenya as part of his African tour. 2010-03-14T21:00:00Z Bank boosts its defences against fraudsters with Sh76m security solutions http://www.bdafrica.com/-/539552/878746/-/6ckiaw/-/index.html Keen to defend its customers deposits against fraud, Imperial Bank has invested Sh76 million in several products aimed at raising the bank’s defences against business risks. 2010-03-14T21:00:00Z Competition grows with Scangroup’s entry into research http://www.bdafrica.com/Competition%20grows%20with%20Scangroups%20entry%20into%20research%20/-/539552/878752/-/qj1a1u/-/index.html The Sh2 billion research sector is set to become more competitive with the entry of marketing services giant, Scangroup. 2010-03-14T21:00:00Z Sh22bn stimulus package set to lift banks’ business http://www.bdafrica.com/Sh22bn%20stimulus%20package%20set%20to%20lift%20banks%20business%20/-/539552/877470/-/raf0qaz/-/index.html Commercial banks expect the release of a Sh22 billion stimulus package to stir up more quality lending opportunities in the private sector. 2010-03-11T21:00:00Z Weak results push more investors into bonds http://www.bdafrica.com/Weak%20results%20push%20more%20investors%20into%20bonds%20/-/539552/877494/-/12nk8cw/-/index.html An investor shift to the bonds markets is expected to continue following end year results of listed companies falling below market expectations. 2010-03-11T21:00:00Z Banks mull over-the-counter bonds trading plan http://www.bdafrica.com/Banks%20mull%20over-the-counter%20bonds%20trading%20plan%20%20%20/-/539552/877460/-/1l95evz/-/index.html Kenyan banks are considering a move by the Nairobi Stock Exchange allowing them to trade bonds directly. 2010-03-11T21:00:00Z NBK investors’ wait pays off with bonus share issue http://www.bdafrica.com/NBK%20investors%20wait%20pays%20off%20with%20bonus%20share%20issue%20%20/-/539552/877532/-/woyqcvz/-/index.html The National Bank of Kenya (NBK) is a step away from privatisation after turning a page in its dark past as a poorly run state bank to shake off a pile of accumulated losses and a legacy of bad loans. 2010-03-11T21:00:00Z Investing in bonds boosts Pan Africa Insurance’s profits http://www.bdafrica.com/Investing%20in%20bonds%20boosts%20Pan%20Africa%20Insurance%20profits%20%20/-/539552/876726/-/jury2d/-/index.html Investment in long term bonds helped Pan Africa Life Insurance Holdings more than double its investment income in the financial year ending December 2009. 2010-03-10T21:00:00Z Investors to benefit from PTA Bank deal http://www.bdafrica.com/Investors%20to%20benefit%20from%20PTA%20Bank%20deal%20/-/539552/876696/-/sag85sz/-/index.html Small and medium sized enterprises are set to benefit from a Sh3.8 billion ($50 million) loan received by the PTA Bank from a consortium of lenders led by the International Development Bank of Netherlands (FMO). 2010-03-10T21:00:00Z KRA to auction unclaimed cargo at Mombasa port http://www.bdafrica.com/KRA%20to%20auction%20unclaimed%20cargo%20at%20Mombasa%20port%20%20%20%20/-/539552/876688/-/1455rdbz/-/index.html Kenya Revenue Authority (KRA) will auction unclaimed cargo at the port of Mombasa and Container Freight Stations (CFSs) to free the yard and warehouses, and also recover unpaid duty. 2010-03-10T21:00:00Z