Tuesday, July 17, 2018

ICEA Lion insurance arms scoop top awards

 Einstein Kihanda ICEA Lion Asset Management CEO Einstein Kihanda. PHOTO | SALATON NJAU | NMG 
ICEA Lion’s insurance arms shrugged off competition from rivals to bag top awards in this year’s Think Business Insurance Awards.

Tesla shares fall after CEO abuses cave rescuer

Tesla Chief Executive Elon Musk. AFP PHOTO Tesla Chief Executive Elon Musk. AFP PHOTO  
REUTERS

Summary

    • A number of analysts and investors say Musk’s comments were adding to their concerns that his public statements were distracting him from Tesla’s main business.
    • The stock sell-off knocked almost $2 billion off the company’s market value.
    • The billionaire entrepreneur’s spat with British caver Vernon Unsworth started last week, after rescue teams rejected Musk’s offer of a mini-submarine.

Absa eyes expansion after Barclays ‘divorce’

Maria Ramos Absa Group Limited Chief Executive Maria Ramos. FILE PHOTO | NMG 

Family Bank staff held after Sh20m theft

Family Bank Ruiru branch Family Bank Ruiru branch. FILE PHOTO | NMG 
Four Family Bank employees have been arrested in connection with theft of Sh20.8 million at the lender’s Ruiru branch on Saturday night.

Kebs says impounded sugar is ‘generally safe’ for use

Loaders offload sugar Loaders offload sugar that was stopped on grounds it contains mercury and copper. More than 500,000 tonnes so far intercepted in ongoing crackdown. FILE PHOTO | NMG
EDWIN MUTAI

Summary

    • Moses Ikiara, the Kebs acting managing director, told a joint Parliament team probing importation of sugar that the tests have been drawn from 17 out of 41 counties whose samples were taken.

Shelter Afrique board meets ahead of crucial Friday AGM

Femi Adewole Outgoing CEO Femi Adewole. FILE PHOTO | NMG 

91-day T-bill uptake low as investors eye one-year tenor

cash money Central Bank of Kenya (CBK) accepted Sh32.03 billion from the Sh52.53 billion worth of bids received. FILE PHOTO | NMG 
JAMES NGUNJIRI

Summary

    • Investor apathy towards the 91-day tenor led to the sub-par uptake, even as they remained upbeat on the one year paper.