KPLC staff, five others arrested in crackdown on illegal lines

Nairobi, May 8, 2017…….Six people, among them a Kenya Power employee, were arrested in various parts of the country over the weekend as the Company enhanced crackdown on illegal lines…

Busy schedule for President Kenyatta in May

NAIROBI, 7 MAY 2017, (PSCU) – President Uhuru Kenyatta is set for a hectic schedule this May as he handles local and foreign engagements even as he gets ready to…

Asad Anwar wins KCB Autocross

The must watch KCB Nakuru Auto Cross saw 54 year old Asad Anwar crowned the champion in his maiden outing this season.

Chinese experts advise Ugandan farmers on earning more from farmlands

KAMPALA, (Xinhua) -- Tucked away over 50km north of the capital Kampala, Chinese technicians continue to set up the first agricultural industrial park in the east African country.

Somali forces kill senior Al-Shabaab leader in southern Somalia 

MOGADISHU, May 7 (Xinhua) -- Somali security forces killed a senior Al-Shabaab leader heading the group in Lower Shabelle region on Friday in southern Somalia, a government official confirmed on…

Equity scoops 19 awards during this year’s Think Business Banking Awards 2017

Nairobi, May 8th 2017……Equity Bank has once again emerged as the top Overall Bank at the Think Business Banking Awards 2017, stamping its authority as a market leader in the…

Kenya shilling gains more ground against U.S. dollar 

NAIROBI, March 9 (Xinhua) -- The Kenya shilling strengthened further against the U.S. dollar on Thursday following increased inflows from foreign investors seeking to trade in government securities.
The Central Bank of Kenya quoted the local unit Thursday morning at 102.5 against dollar from 102.6 the previous day.  However, commercial banks placed the value of the shilling against the dollar even higher at an average of 102.4 as they attributed the surge to increased foreign investors' inflows amid low dollar demand from importers.  On Wednesday, the Kenyan currency gained 0.02 percent against the dollar as it sustained gains from the previous days, where it had risen 0.22 percent on Monday and 0.01 percent Tuesday.
 
Last month, the Kenya shilling appreciated against the dollar by 1 percent to close at 102.9, from 103.9 in January. The strengthening of the shilling during the month was primarily driven by dollar inflows from offshore institutional investors and horticultural produce exporters, according to Nairobi-based investment firm Cytonn. However, on a year-to-date basis, the shilling has depreciated against the dollar by 0.2 percent. Besides inflows from foreign investors and horticulture, the currency has also received key support in recent weeks from higher diaspora remittances.Analysts, however, warn that rising food prices which have pushed up inflation, surging oil prices and an ongoing drought may erode the shillings gains in coming weeks. 
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