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☆ Indian small-cap Urja Global jumps on Tesla-deal confusion
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, June 12 (Reuters) - Shares of Indian small-cap renewable energy company Urja Global (URJA.NS) jumped nearly 40% in two sessions following a deal with Gurugram-based Tesla Power India, which some investors mistook for U.S. automaker Tesla (TSLA.O). Urja on June 8 said it signed an agreement to manufacture and supply batteries with Tesla Power India, which has global headquarters in Delaware in the United States. "Investors misinterpreted this deal with the real Tesla, leading Urja stock to rally," said Prashanth Tapse, vice president of research at Mehta Equities. Urja shares were up 27.6% this year at 12.70 rupees. The small-cap stock was down 52% in 2022.

Persons: Tesla, Urja, Prashanth Tapse, Shinjini Organizations: Urja, Gurugram, Tesla Power, U.S, Mehta, Sethuraman NR, Thomson Locations: BENGALURU, Delaware, United States, Bengaluru

☆ Kenya central bank says digital currency not a 'compelling priority'
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

NAIROBI, June 2 (Reuters) - Kenya's central bank does not consider the issuance of a digital currency a "compelling priority" but it will continue monitoring developments in the area to help future decisions on issuance, it said on Friday. The bank invited views from the public on the potential introduction of a central bank digital currency (CBDC) in February last year, in a shift from its original opposition to crypto assets, but it has decided not to issue any. "Implementation of a CBDC in Kenya may not be a compelling priority in the short to medium term." The East African nation is renowned for the wide usage of mobile money payments. Nigeria became the first African country to launch a digital currency in 2021.

Persons: Duncan Miriri, Emelia Sithole Organizations: Thomson Locations: NAIROBI, Kenya, Nigeria

☆ Indian rupee posts biggest single-day gain in two months on strong growth data
▼ + stars: | 2023-06-01 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

MUMBAI, June 1 (Reuters) - The Indian rupee saw its best single-day gain in two months on Thursday, and also rose to a two-week high during the session, following strong domestic growth data, which prompted traders to square off long dollar positions. On Thursday, the rupee rose 0.38%, to mark its best day since April 5. Consistent flows into equities coupled with strong economic data is supporting the rupee, said Dilip Parmar, a research analyst at HDFC Securities. Adding to strong growth numbers, India's factory output expanded at the quickest pace since October 2020 in May, thanks to strong demand and output, a private survey showed. The string of positives for the rupee has prompted USD/INR long positions to lose patience, a sales person at a private bank said.

Persons: Dilip Parmar, Parmar, Sonia Cheema Organizations: U.S ., HDFC Securities, . Federal Reserve, Fed, Sethuraman NR, Thomson Locations: MUMBAI, Mumbai

Pros Check mark icon A check mark. Pros Check mark icon A check mark. Geoff Cudd, Owner of FindTheBestCarPrice.comKareem Saleh, founder and CEO of FairPlay AIRyan Wangman, loans reporter at Personal Finance InsiderHow to Choose the Best Auto Loan for Bad CreditTo pick the best auto loan, take stock of the factors that are most important to you. See our full ratings methodology for auto loans »Auto Loans for Bad Credit Frequently Asked QuestionsCan I get auto financing with a 500 credit score? Our Experts' Advice for Choosing the Best Auto Loan for Bad CreditCan you get an auto loan with bad credit?

☆ Ethiopia to offer up to five banking licenses to foreign investors
▼ + stars: | 2023-05-03 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +1 min

ADDIS ABABA, May 3 (Reuters) - Ethiopia will issue up to five banking licenses to foreign investors in the next five years, part of plans to open up the financial services sector to foreign competition, a senior central bank official said on Wednesday. "We will give three to five licenses within five years," vice governor of the central bank Solomon Desta told reporters. Ethiopia's banking industry is dominated by state-owned Commercial Bank of Ethiopia, and the sector has 29 players, all of them locally owned. Desta said foreign investors would have different options to enter the industry, including forming joint ventures with domestic players, or establishing local subsidiaries. Foreign investors have long eyed sectors including banking, telecoms, transportation and aviation in Ethiopia, a country of more than 100 million people and one of the biggest economies in Sub-Saharan Africa.

It also partners with Costco to offer Canadian members discounts on any Pets Plus Us Pet Insurance plan. Types of Pet Insurance Plans from Pets Plus UsPets Plus Us coverage is offered in a few different tiers, which include a starter tier of accident-only coverage. To file a claim with Pets Plus US, you can:Submit a claim online at Portal.PetsPlusUs.comBegin a claim by emailing submissions@petsplusus.comFax claims information to 1-855-456-PETS (7387)You can also file a pet insurance claim through the mail using the following address:Pets Plus UsSuite #400, 710 Dorval DrOakville, ON L6K 3V7Pets Plus Us Pet Insurance FAQsDoes Pets Plus Us offer pet insurance plans in the United States? Methodology: What Went into Our Pets Plus Us Pet Insurance ReviewBefore we wrote this Pets Plus Us review, we gathered information from more than 20 pet insurance providers offering similar pet health coverage. Pets Plus Us Pet Insurance Competitors PetSecure Pet InsurancePHI Direct Pet InsuranceFetch Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

☆ You may owe taxes on your crypto investments — here are 3 things to know
▼ + stars: | 2023-03-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Since 2014, the IRS has treated virtual currency as property for federal income tax purposes, according to the agency's website. Similar to stocks, crypto is subject to IRS rules surrounding capital gains and losses. That means that if you earned a profit by selling your crypto for more than what you purchased it for, you'll owe capital gains tax on the difference. The IRS allows investors to use capital losses to offset taxable capital gains. Additionally, capital losses can be used to reduce your regular taxable income by up to $3,000 per year if your capital losses exceed your annual capital gains.

☆ Kenya hit by nationwide power outage
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: 1 min

NAIROBI, March 4 (Reuters) - Kenya was hit by a nationwide power blackout on Saturday evening caused by a "system disturbance", electricity distributor Kenya Power (KPLC.NR) said. "We are working to restore normalcy within the shortest time possible," Kenya Power said in a statement. Kenya Power is the country's sole electricity distributor and the bulk of its power comes from Kenya Electricity Generating Company (KenGen) (KEGN.NR), which is the main producer. Reporting by Hereward Holland, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Power restored to parts of Kenya after nationwide blackout
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

NAIROBI, March 4 (Reuters) - Power was restored to parts of Kenya after a nationwide blackout lasting several hours which was thought to have been caused by a fault on a transmission line, electricity distributor Kenya Power (KPLC.NR) said on Saturday. "Initial reports indicate that the outage was caused by a fault that occurred on the Suswa-Loyangalani high-voltage power transmission line," Kenya Power said in a statement. The power supply was restored to parts of Eldoret, Kisumu and Nakuru, the distributor said. Electricity had also returned to at least one part of the capital Nairobi, according to a Reuters journalist. Kenya Power is the country's sole electricity distributor and the bulk of its power comes from Kenya Electricity Generating Company (KenGen) (KEGN.NR), which is the main producer.

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☆ Kenya Power to convert its 2,000 vehicles to electric over 4 years
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

NAIROBI, Feb 7 (Reuters) - Kenya's sole power distributor Kenya Power (KPLC.NR) aims to convert its 2,000 petrol and diesel-driven vehicles to electric over the next four years, it said on Tuesday. Kenya Power will phase out its petrol and diesel vehicles by retrofitting electric engines and buying new electric vehicles. Kenya has installed generation capacity of 3,321 megawatts (MW) against a peak demand of 2,132 MW and off-peak demand of about 1,100 MW, according to Kenya Power. "Charging electric vehicles especially at night would, therefore, help bridge the gap between off-peak load available generation capacity as well as raise the average demand to above 1,500 MW," it said in a statement. ($1 = 124.7000 Kenyan shillings)Reporting by George Obulutsa; Editing by Alexander Winning;Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ German ministry to review sale of regional airport to Russian investor - source
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

The insolvency administrator for Frankfurt-Hahn airport, in western Germany, said the investor and seller had decided to submit a purchase contract to the economy ministry, which has the power to block some takeovers by foreign players. A source close to the proceedings confirmed local media reports that the successful, and highest, offer came from NR Holding, which belongs to Russian billionaire Viktor Kharitonin. The federal economy ministry can block takeovers of critical infrastructure by firms outside the European Union. Economy Minister Robert Habeck said on Monday that his ministry had launched a routine screening of the process. It had 1.23 million passengers between January and November last year, less than half the number a decade ago.

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☆ Parts shortages impact Kenya Airways, cause flight disruptions
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Kenya Airways planes are seen parked at the Jomo Kenyatta International airport near Kenya's capital Nairobi, April 28, 2016. REUTERS/Thomas MukoyaNAIROBI, Jan 10 (Reuters) - Kenya Airways (KQNA.NR) is experiencing flight disruptions due to delays in securing aircraft components required for maintenance, the carrier said late on Monday. "The challenges have been occasioned by the Ukraine war crisis, which has significantly crippled the Russian supply chain crucial to global aviation," he said. Kenya Airways, whose strategy hinges on connecting African travellers to the world and vice-versa through its Nairobi hub, operates a fleet of Boeing and Embraer planes. Reporting by Duncan Miriri; Editing by Jacqueline Wong and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Kenya Airways hit by flight disruptions due to parts shortages
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

NAIROBI, Jan 10 (Reuters) - Kenya Airways (KQNA.NR) is experiencing flight disruptions due to delays in securing aircraft components required for maintenance, the carrier said late on Monday. The airline, which is one of Africa's biggest, may be forced to cut some flights if the challenges of getting the parts persist, CEO Allan Kilavuka said in a statement. Reporting by Duncan Miriri; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

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☆ Kenya's Centum Investment H1 pretax loss widens to 1.24 bln shillings
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] Women work at the front desk of the Centum Investment Company Limited in Nairobi, Kenya November 11, 2015. REUTERS/Siegfried Modola/File PhotoNAIROBI, Nov 29 (Reuters) - Kenya's Centum Investment (CTUM.NR) said on Tuesday its pretax loss widened to 1.24 billion shillings ($10.14 million) in the first half of the year to end-September from a loss of 697 million shillings in the same period a year earlier. It said in a statement its company investment and other income fell to 713.4 million shillings from 987 million shillings, while operating and administrative costs dropped to 254.7 million shillings from 328.2 million shillings. Centum, which invests in listed firms and private companies, said company net asset value per share, a key measure of performance for investment firms, fell to 59.77 shillings from 62.10 shillings. In June, Centum said it agreed to sell its 83.4% stake in Kenya's Sidian Bank to Nigeria's Access Bank for 4.3 billion shillings.

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☆ Kenya Power reports outages in parts of the country
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: 1 min

NAIROBI, Nov 24 (Reuters) - Kenya Power (KPLC.NR), the country's sole electricity distributor, reported power outages across parts of the nation on Thursday. The company did not explain what triggered the outages but said it was working to "restore normalcy within shortest time possible". It buys the bulk of its power from Kenya Electricity Generating Company (KEGN.NR). The outages follow widespread blackouts this month in East Africa's economic powerhouse. Later that month, three senior managers Kenya Power were charged with sabotage and negligence.

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NAIROBI, Nov 8 (Reuters) - A labour court on Tuesday ordered pilots at Kenya Airways (KQNA.NR) to resume work by Wednesday, seeking to end a strike that has left thousands of passengers stranded at one of Africa's most important aviation hubs. On Tuesday, a labour and employment court judge ordered the pilots to resume their duties "unconditionally" at 6 a.m. local time (0300 GMT) on Wednesday. Kenya Airways welcomed the court's directions, and said it would comply. [1/2] Kenya Airways pilots attend a court session after the association's management was summoned for contempt of a court order declaring as illegal the ongoing strike of Kenya Airways pilots, organised by KALPA, at the Milimani Law Courts, in Nairobi, Kenya, November 8, 2022. Financial turmoil at Kenya Airways preceded the pandemic.

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