business
20 storiesChina Exports Surge Despite Tariffs, India Faces Gas Shortage: China's exports experienced a significant surge of over 20% in January and February, defying trade tensions with the United States and setting the nation on pace to surpass its previous annual trade surplus record. In contrast, India is facing a significant shortage of Liquefied Petroleum Gas, impacting several regions particularly in Karnataka and Maharashtra, with lawmakers expressing serious concern over supply disruptions. Separately, Tokyo stocks saw a rebound on Tuesday, recovering some losses after a significant drop the previous day, primarily driven by a retreat in crude oil prices. Oil Prices Volatile After Trump Comments, Strait of Hormuz Warning: Oil prices experienced historic volatility, surging to $115 a barrel before a potential release of emergency stockpiles and comments from US President Donald Trump offered some relief, though prices remained elevated and supply chains were in disarray. Further adding to the uncertainty, oil prices dropped significantly after Trump issued a strong warning to Iran against blocking the Strait of Hormuz, a vital shipping route for global energy supplies. In response, G7 nations pledged to take "necessary measures" to support global energy supplies amidst soaring oil prices triggered by the US-Israel conflict with Iran, though a meeting of G7 finance ministers and the International Energy Agency concluded without an immediate agreement to release strategic crude reserves. RBA Renews KUSCCO License, KDIC Explores Saccos Cover: The Retirement Benefits Authority renewed the operating license for KUSCCO Mutual Assurance Limited, permitting it to continue managing pension schemes. Meanwhile, Kenya's Bank deposits insurer, Kenya Deposit Insurance Corporation, expressed openness to developing a deposit protection scheme for Savings and Credit Co-operative Societies to enhance saver confidence in the sector holding over Sh1 trillion in deposits. The global financial system is also undergoing a fundamental transformation driven by blockchain technology and digital assets, creating a unique opportunity to rebuild financial infrastructure for the next era. KRA Deploys Body Cameras at Border Points, JKIA: The Kenya Revenue Authority deployed 350 body-worn cameras at border points nationwide to enhance transparency and accountability in customs operations. Separately, KRA also deployed body cameras for its officers at Jomo Kenyatta International Airport to boost transparency and accountability in passenger clearance. Meanwhile, the Motorists Association of Kenya is seeking urgent clarification from the National Transport and Safety Authority regarding the legal and procedural aspects of its newly implemented instant traffic fines system. Kenya Pipeline Shares Begin Trading at NSE: Shares of Kenya Pipeline Company (KPC) commenced trading on the Nairobi Securities Exchange on Tuesday, March 10, following a bell-ringing ceremony led by President William Ruto. In a related development, Nairobi City County Government launched a substantial Sh38.1 billion water and sanitation upgrade plan to enhance access to clean water and sewage infrastructure in the capital. Additionally, the Capital Markets Authority Kenya partnered with Afri Fund Capital through a Memorandum of Understanding to boost infrastructure financing in Kenya using capital market products.
























































