Business & Economy
Featured News Stories
SBM Bank Unveils Rewards, Platinum Saver; KBA Advocates PAYE Cut
SBM Bank has launched the SBM Rewards program via its Mfukoni app, allowing customers to earn redeemable points on everyday card spending. The bank also introduced the Platinum Saver Account, offering high interest rates to help customers grow their savings efficiently. Meanwhile, the Kenya Bankers Association is advocating for a uniform Pay As You Earn (PAYE) tax cut across all income brackets, arguing that targeted relief for low-income earners will have a limited economic impact. Additionally, Airtel Kenya has opened four new customer care centres in Nairobi to address the increasing demand for mobile connectivity, digital, and financial services.
Seven OPEC+ Countries to Raise Oil Output in July
Seven member countries of the OPEC+ alliance have agreed to increase their oil production by 188,000 barrels per day starting in July following a virtual meeting where the group reviewed global market conditions. Oil prices experienced an increase as Iran launched missiles at Israel, potentially jeopardizing a fragile ceasefire agreement. President William Ruto has embarked on a week-long European tour to Belgium, Norway, and Finland, with the primary goals of attracting foreign investment, expanding market access for Kenyan exports, and strengthening economic ties.
