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Trade and Investment

Former Trade Minister Dr Mukhisa Kituyi appointed to head UN trade agency

By Ben Kinyanjui

Former Trade Minister Dr Mukhisa Kituyi will now head UN Conference on Trade and Development (UNCTD) after the UN General Assembly approved his appointment on Monday.Dr Mukhisa Kituyi is an acomplished trade negotiator Dr Mukhisa Kituyi is an acomplished trade negotiator

A statement from UN Secretary-General Ban Ki-moon’s office says Dr Kituyi who served as Kenya’s Trade and Industry minister (2007-2008) would take over from Mr Supachai Panitchpakdi of Thailand on September 1.

Rate of inflation decline marginally as food and oil prices remain steady

 

By Ben Kinyanjui

 

The overall rate of inflation stood at 4.05 per cent in May down from 4.14 per cent reported in April 2013.Food and oil prices have remained steady for the last five monthsFood and oil prices have remained steady for the last five months

 

 

The Kenya National Bureau of Statistics says the CPI increased by 0.17 per cent from 139.28 in April to 139.52 in May.

Kenyan banks opened 59 branches within EAC last year, says Central Bank of Kenya

By TF News Reporter

Kenyan banks continued their expansion to the East African Community (EAC) partner states by opening an additional 59 branches last year. Equity Bank is among banks with branches in EACEquity Bank is among banks with branches in EAC

The Central Bank of Kenya (CBK) says banks with 282 branches had operations in the EAC Partner States and South Sudan.

Fairtrade mark finally launched in Kenya

 

By Ben Kinyanjui

Fairtrade International has launched Fairtrade Eastern Africa, an organisation that markets and promotes use of the FAIRTRADE Mark on products in the EasternAfrican region.Flowers should also bear the markFlowers should also bear the mark

When consumers buy a product with the FAIRTRADE Mark in their local supermarket or café, they are assured that African farmers have received a fair price for their goods, an extra Fairtrade premium payment and contributed to the environment; as Fairtrade promotes sustainable agricultural practices in Africa. The FAIRTRADE Mark is also an assurance that the goods meet international Fairtrade Standards.

Remittances by Kenyans living abroad increase one per cent in March

By Ben Kinyanjui

The remittance inflow in March 2013 was US$ 1.021 million (Sh85 million) that is one per cent higher than the February 2013 inflow of US$ 102.4 million.Mr Adan Mohamed, former Barclays Bank (Kenya) CEO nominated to head Industrailisation and Entreprise Development docketMr Adan Mohamed, former Barclays Bank (Kenya) CEO nominated to head Industrailisation and Entreprise Development docket

The Central Bank of Kenya (CBK) says in the 12 months to March 2013, average remittance inflows increased to US$98.3 million from US$ 82.9 million average remittance inflows for the year to March 2012.

World Bank appoints Ms Diariétou Gaye as Country director for Kenya, Rwanda and Eritrea

 

By Ben Kinyanjui

The World Bank Group has appointed Ms Diariétou Gaye as the new country director for Kenya, Rwanda and Eritrea.Ms Diarietou Gaye new World Bank Country Director Ms Diarietou Gaye new World Bank Country Director

Ms Gaye replaces Mr Johannes Zutt who has moved to Bangladesh in a similar capacity. Mr Zutt had during his tour of duty avoided confrontation with retired President Mwai Kibaki government and instead engaged in intense consultations.

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