Business

Due to the average annual inflation, excise duty on the products like beer, juice and bottled water will increase by 6.3 per cent. This is effective from October 1 as the Kenya Revenue Authority (KRA) moved to effect annual inflation tax adjustment on excise duty charged on the products. The…

The Nigerian senate has passed a bill imposing jail terms of at least 15 years on anyone paying a ransom to free someone who has been kidnapped. Critics say the move is unfair as it criminalises people who are desperate to free their relatives. The new law will also provide…

A commercial plane belonging to Rwanda national carrier Rwandair caused a crash scare at Entebbe airport Wednesday morning when it skidded off the runway The craft numbered 464 inbound from Kigali reportedly went off the runway at around 5am. According to a statement from Uganda’s Civil Aviation Authority, the situation…

Elon Musk took a 9.2% stake in Twitter Inc. to become the platform’s biggest shareholder, a week after hinting he might shake up the social media industry. Twitter shares surged as much as 27% after Musk’s purchase was revealed Monday in a regulatory filing. The gain marked the stock’s biggest…

A giant A380 has taken the skies in France with one engine powered by a sustainable cooking oil mix. The three-hour flight took place on Friday (Saturday NZT) from Blagnac Airport, Toulouse. One of the Rolls-Royce Trent 900 engines on the test flight used Sustainable Aviation Fuel (SAF), making it…

The US Federal Communications Commission (FCC) has added Russian security vendor Kaspersky to its list of potential threats for American businesses. In a statement published on Friday (March 25), the government agency announced it had expanded its list of communications equipment and services that pose a threat to national security…

France, which holds the presidency of the European Union, announced late Monday that the bloc has approved a new set of sanctions against Russia over its war on Ukraine. The French presidency said in a statement that the EU “in consultation with our international partners, has approved a fourth package…

Social media giant Meta Platforms, Inc., formerly known as Facebook, Inc., is facing prosecution in South Africa for unfairly trying to block local startups from using its WhatsApp Business Application Programming Interface (API), a government agency said Monday. The Competition Commission said in a statement that it has referred Meta…

Russia’s stock market will remain closed this coming week, March 14-18, the country’s central bank said Saturday. However, the central bank said the foreign exchange market, money market and repo market will open at 0700 GMT on those days. The Moscow Exchange will not open, with the exception of some…