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HomeDaily NewsFriday, July 25, 2025Economic and Trade Developments
Breaking News & Top Stories3 stories from 2 sources

Economic and Trade Developments

UK and India sign a landmark trade deal to slash tariffs. Kenya's government wins Ksh260 Billion case in railway deal. Raila comments on Kenya Kwanza deal.

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Friday 7:21 PMCapital News

UK and India Sign Landmark Trade Deal Slashing Tariffs, Boosting Bilateral Ties

UK and India Sign Landmark Trade Deal Slashing Tariffs, Boosting Bilateral Ties

The United Kingdom and India have signed a landmark trade agreement, slashing tariffs on various goods and expanding market access for businesses in both countries. This deal, described as a "landmark moment" by Prime Minister Keir Starmer, seeks to boost bilateral trade and economic cooperation.

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Key Highlights

The United Kingdom and India have signed a landmark trade agreement, slashing tariffs on various goods and expanding market access for businesses in both countries. This deal, described as a "landmark moment" by Prime Minister Keir Starmer, seeks to boost bilateral trade and economic cooperation.

  • Key Tariffs Reduced: Tariffs on British goods to India will fall from an average of 15% to 3%; whisky and gin tariffs from 150% to 75% (eventually 40% over 10 years); and automotive tariffs from over 100% to 10%. 99% of Indian exports to the UK will face zero import duty.
  • Economic Impact: The agreement is expected to boost bilateral trade by £25.5 billion ($34.4 billion) and add £4.8 billion ($6.5 billion) annually to the UK economy.
  • Key Figures: Signed by UK Trade Secretary Jonathan Reynolds and Indian counterpart Piyush Goyal, the deal was formalized after more than three years of negotiations, following an agreement in principle in May.
Friday 2:50 PMKenyansFirst

Govt Wins Ksh260 Billion Case in Botched Railway Line Deal

Govt Wins Ksh260 Billion Case in Botched Railway Line Deal

President William Ruto's administration has won a significant legal battle, successfully defending a Ksh260 billion case at the London Court of International Arbitration. The case, initiated by Rift Valley Railway in 2020, stemmed from the premature termination of a railway construction and maintenance contract between the company and the Kenyan and Ugandan governments.

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Friday 6:22 PMKenyans

Raila Breaks Silence on Sifuna’s Remarks About Kenya Kwanza Deal

Raila Breaks Silence on Sifuna’s Remarks About Kenya Kwanza Deal

ODM Party leader Raila Odinga has publicly defended Secretary General Edwin Sifuna concerning his recent remarks about the ODM-Kenya Kwanza Memorandum of Understanding. Speaking in Kakamega, Raila affirmed Sifuna's democratic right to express his opinions, emphasizing that freedom of speech is a core tenet of ODM.

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Key Highlights

ODM Party leader Raila Odinga has publicly defended Secretary General Edwin Sifuna concerning his recent remarks about the ODM-Kenya Kwanza Memorandum of Understanding. Speaking in Kakamega, Raila affirmed Sifuna's democratic right to express his opinions, emphasizing that freedom of speech is a core tenet of ODM.

  • Raila Odinga stated that Sifuna's remarks were his democratic right and encouraged party members to voice differing opinions internally rather than on public platforms.
  • Edwin Sifuna, Nairobi Senator and ODM Secretary General, caused a debate after stating on Citizen TV that the ODM-Kenya Kwanza agreement was not being followed and had expired.
  • Raila stressed that internal party disagreements should be resolved through established channels like the Central Committee or National Executive Committee, not in the press.
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Key Highlights

President William Ruto's administration has won a significant legal battle, successfully defending a Ksh260 billion case at the London Court of International Arbitration. The case, initiated by Rift Valley Railway in 2020, stemmed from the premature termination of a railway construction and maintenance contract between the company and the Kenyan and Ugandan governments.

  • The court dismissed Rift Valley Railway's petition, which sought Ksh300 million ($2 billion) in compensation, and awarded costs in favor of the Kenyan and Ugandan governments.
  • Key persons representing Kenya included former Attorney General Githu Muigai and Senior Counsel Wambui Muigai.
  • The 25-year contract was terminated in 2017 due to Rift Valley Railway's failure to meet operating targets and pay concession fees.