(NAIROBI, KENYA) – The Central Bank of Kenya expects inflation to peak lower than previously projected. The revision comes amid anticipation that the conflict involving the United States, Israel and Iran will be resolved soon. The central bank projects inflation will peak at 6.8 percent in January 2027 before easingContinue Reading
(NAIROBI, KENYA) – KCB Group has raised its interim dividend by 50 percent to KES 3 per share after reporting a 14.2 percent growth in net profit for the half year ended June. The regional lender posted a net profit of KES 36 billion, up from KES 31.5 billion recordedContinue Reading
(NAIROBI, KENYA) – The Central Bank of Kenya has failed in its attempt to be removed from a court case in which an M-Pesa customer has sued Safaricom over mobile money fraud. The court ruled that the central bank’s role as regulator of payment service providers makes its presence necessaryContinue Reading
(NAIROBI, KENYA) – Kenya and the International Monetary Fund have restarted discussions on a new lending programme. The arrangement is expected to provide fresh loans but will also bring difficult conditions for taxpayers. The Central Bank of Kenya said on Wednesday that an IMF team will visit Nairobi soon. TheContinue Reading
(MONTREAL, CANADA) – Metro’s third quarter profit fell 35% as a strike at its only produce distribution centre in Quebec entered its fifth month, costing the grocery and pharmacy retailer an estimated C$90 million in lost profit and direct costs. Metro reported net profit of C$211.3 million, about US$151.1 millionContinue Reading
(MONTREAL, CANADA) – Air Canada shares rose sharply on Wednesday after the country’s largest airline agreed to sell a 25% stake in its Aeroplan loyalty programme to Blackstone and a group of Canadian pension funds for C$2.5 billion, giving the carrier a major cash injection as high fuel costs areContinue Reading
(THUNDER BAY, ONTARIO) – Ontario’s lithium industry is moving towards a potential first mine, with Rock Tech Lithium targeting initial production from its Georgia Lake project in northwestern Ontario in about two years as several companies compete to develop the province’s largely untapped resources. Rock Tech is seeking to advanceContinue Reading
(QUEBEC, CANADA) – Quebec is sharply increasing minimum environmental fines for some of its highest risk industrial activities, with penalties for certain offences rising tenfold under changes to the province’s environmental laws. The move will affect major sectors including battery manufacturing, oil refining, pulp and paper, mining, aluminium production, foundries,Continue Reading
QUEBEC, CANADA) – Amid a housing crisis, C$37 million (about US$26.6 million / £19.6 million / €22.9 million) intended to help tenants under the Rent Supplement Programme (PSL) remains unspent in Quebec government coffers. Community groups and private landlords criticise poor management of the funds even as the programme wasContinue Reading
(LANAUDIÈRE, QUEBEC, CANADA) – A section of Quebec’s Autoroute 40 has been closed westbound near Saint Cuthbert after a cavity was found beneath the road, forcing authorities to divert traffic and prepare a temporary traffic arrangement on the opposite carriageway. The affected section, about 60 kilometres from Montreal, was closedContinue Reading
