Business & Economy
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Oil Price Predicted to Remain Above $100 for Rest of Year
Global oil prices are predicted to stay above $100 for the rest of the year, even if the Strait of Hormuz reopens soon, according to JP Morgan. This forecast is based on ongoing supply disruptions and logistical challenges. In response to rising fuel costs, ride-hailing platform Bolt has increased its fares by 6 percent in Kenya to help drivers cope with higher expenses. Meanwhile, U.S. President Donald Trump intends to suspend the federal gas tax amid the ongoing price surge, according to CNN reports.
Kenya-China Trade Relations Expand
The first batch of Kenyan tea, exported under China's new zero-tariff initiative for African countries, has arrived in China, marking a significant step towards enhanced market access for Kenyan products. This follows a call from former World Bank president David Malpass urging China to stop hoarding food and fertilizer, citing its massive stockpiles as a potential solution to a global supply crisis. Additionally, U.S. President Donald Trump is set to be accompanied by a delegation of 17 top U.S. business and technology executives, including Elon Musk and Tim Cook, on his upcoming official trip to Beijing, highlighting ongoing trade dynamics between major economies.
SHA Increases Cancer Cover, Netflix Faces Privacy Lawsuit
The Social Health Authority (SHA) has significantly enhanced its coverage for cancer patients and expectant mothers in Kenya, with the annual cancer cover increased by Sh250,000 to bring the total to Sh800,000. Separately, the Texas Attorney General Ken Paxton has accused Netflix of spying on its users, including children, by collecting and monetizing vast amounts of behavioral data without consent. Additionally, the CMA CGM Foundation announced new initiatives in Kenya aimed at supporting education and youth empowerment during the Africa Forward Summit held in Nairobi on May 11 and 12, 2026.
