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KenGen NAIROBI: Kenya's main electricity producer KenGen posted an 11 percent rise in full year pretax profit to 4.045 billion shillings ($47.53 million), helped by increased output from new plants, it said on Wednesday. The firm attributed the improved profits to a 14.5 percent increase in revenue to 17.4 billion shillings, buoyed by improved electricity sales due to increased production capacity from newly commissioned power plants. On the other hand, operating costs rose at a slower pace, increasing 2.5 percent, KenGen said in a statement. The company plans to install an additional capacity of 65 megawatts by 2014 from its geothermal fields, it said, adding another plan to generate an additional 560 MW of geothermal electricity were at an early stage. It raised its dividend per share by 20 percent to 0.60 shillings. Copyright Reuters, 2012 ...

Kenyan shilling falls as importers bid for dollars  NAIROBI: The Kenyan shilling weakened early on Tuesday as end-month demand for dollars from importers gathered pace, though rising interest rates on the money market could cap losses, traders said.   At 0646 GMT, commercial banks quoted the shilling at 84.95/85.05, slightly weaker that Monday's close of 84.80/85.00.   "(Dollar) demands seems to be building up as the month draws to a close. With this in mind we still anticipate some shilling weakness," Bank of Africa said in a ...
Kuwait, Saudi spat risks delay on Dorra gas field  DUBAI/KHOBAR: Development of an offshore gas field by Kuwait and Saudi Arabia has been delayed for months, due to disagreement over where to share out the gas, and the project may not start up on time unless the dispute is settled soon, a senior Kuwaiti energy executive said on Wednesday. The Dorra gas field, lying close to the shore of the two Gulf OPEC allies, has long been a bone of contention between Kuwait and Iran ...
Rand steady vs dollar, vulnerable to mine strife  JOHANNESBURG: South Africa's rand hovered in the 8.20s against the dollar on Monday, unable to build on recent strength in the euro and weakness in the dollar due to continued labour strife in the mining sector.   The unit is likely to have a quiet session on Monday with no data expected until Tuesday.   The rand was at 8.2400 against the dollar at 0650 GMT, a shade weaker than Friday's New York close of 8.21. The rand rose ...
South African stocks hit new highs after US Fed action  JOHANNESBURG: South African stocks hit a new record high on Friday lifted by the US Federal Reserve's aggressive new stimulus to drive growth, despite the labour unrest in the domestic mining sector.   The blue-chip Top-40 index hit an all-time high of 32,314.56.   The broader All-share index touched a record high of 36,554.09.   Copyright Reuters, 2012 ...
South Africa mine unrest keeps rand under pressure  JOHANNESBURG: South Africa's rand eased against the dollar on Thursday after plunging 3 percent in the previous session as labour turmoil in the platinum sector forced the world's largest producer to shut down some of its production.   The rand traded at 8.3544 at 0657 GMT against the dollar, weaker than Wednesday's New York close of 8.345, after recording its biggest daily plunge in nearly three-months and took the currency to a week-low.   The labour unrest in the ...
Saudi turnover surprises on upside DUBAI: High liquidity in the Saudi Arabian stock market over the summer and Ramadan months, which are traditionally dull trading periods, signal investor interest in the market which could lead prices higher in coming weeks. Investors traded 307 billion riyals ($82 billion) worth of shares on the Saudi bourse during June-August, a surge of 83 percent from the year-earlier period, according to stock exchange data. This has extended a trend of active trading for most of this ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln