2021-05-14 15:55:48 GMT2021-05-14 23:55:48(Beijing Time) Xinhua English
NAIROBI, May 14 (Xinhua) After several years of suffering, the worst for coffee farmers in Kenya seems to be over as global prices hit a new high.
A kilo of Kenyan coffee in the global market is going for as high as 7 U.S. dollars, bringing back the glorious days for the country s farmers.
Sometime in 2019, the global price of a kilo of Kenyan coffee hit 189 shillings (1.75 U.S. dollars), the lowest in over three years.
During the entire year, farmers did not sell their produce at more than 4 dollars a kilo in the global market, with the negative effects of the decline reverberating across regions that grow the crop in the East African nation.
Nairobi’s building approvals dip Sh33bn on pandemic
Summary
The value of building approvals in Nairobi fell Sh33.4 billion in the two months to February, compared to a similar period last year as investors froze investments on the economic uncertainty caused by the Covid-19 pandemic.
Data by the Kenya National Bureau of Statistics (KNBS) shows that approvals fell to Sh18.4 billion, representing a 35.5 per cent decline.
The declining performance of the larger built environment industry is attributed to high national debt, labour shortages and reduced infrastructure spending.
Thursday May 13 2021
By KEVIN ROTICH
Summary
The value of building approvals in Nairobi fell Sh33.4 billion in the two months to February, compared to a similar period last year as investors froze investments on the economic uncertainty caused by the Covid-19 pandemic.
Regulator clears Oman’s cement firm 60pc stake sale
Wednesday May 12 2021
By PATRICK ALUSHULA
Summary
Oman’s Raysut Cement, which has market presence in Tanzania, Somalia and Sudan and had been eyeing to acquire ARM Cement, wants to sell 60 percent stake to a Chinese firm, Zou Fengqi.
The Competition Authority of Kenya (CAK) has exempted the two from filing a notification before it, saying the transaction meets the threshold under the Competition (General) Rules, 2019.
Firms trading regionally are by law required to seek regulator’s approval for acquisitions and mergers
Oman’s Raysut Cement, which has market presence in Tanzania, Somalia and Sudan and had been eyeing to acquire ARM Cement, wants to sell 60 percent stake to a Chinese firm, Zou Fengqi.
Kenya plans to set up emissions trading system Reuters 2 days ago
By George Obulutsa
NAIROBI, May 11 (Reuters) - Kenya aims to set up an emissions trading system that will allow companies and other bodies to buy emissions allowances, the finance minister said on Tuesday, as the country strives to limit the release of greenhouse gases.
Emissions trading is a pollution control mechanism where a central authority issues a limited number of permits for the release of specific greenhouse gases. Companies can then buy these permits and also trade them.
Many countries are using a price on carbon to meet climate goals, in the form of a tax or under an emissions trading or cap-and-trade plan where companies or countries face a carbon limit.
Kenya emissions trading plan at advanced stage, says finance minister Carbon credits system to be managed through national carbon credits and green assets registry 11 May 2021 - 22:52 George Obulutsa Kenya’s capital, Nairobi. Picture: REUTERS/NOOR KHAMIS
Nairobi Kenya aims to set up an emissions trading system that will allow companies and other bodies to buy emissions allowances, the finance minister said on Tuesday, as the country strives to limit the release of greenhouse gases.
Emissions trading is a pollution control mechanism where a central authority issues a limited number of permits for the release of specific greenhouse gases. Companies can then buy these permits and also trade them.