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British oil explorer Heritage Oil will sell its fields in Uganda to Italian oil group Eni SpA for between $1.3b and $1.5b, the London-based Sunday Times said yesterday.
The East African Community officially ushered in a common market on Friday amid renewed commitment by the region's Heads of State to expedite the envisaged political federation by 2015.
General Farah Ahmed Omar alias General Farah Qare, the Commander of the Somali Coat Guard has expressed hopelessness against pirates.
A year ago, President Kibaki accented to the Anti Counterfeits Act as Kenya's manufacturing sector buckled under the weight of fake and cheaply priced goods, especially from Asia.
Kenya is yet to recover from the negative effects of the financial crisis that affected most world economies this year.
Cabinet ministers who approved the allocation of Shs13.9 billion to construct a road and parking areas on private property ahead of the 2007 Commonwealth Heads of Government Meeting (Chogm) in Kampala must refund it, the Public Accounts Committee (Pac) ruled last week.
UK explorer Heritage Oil has confirmed that it agreed to sell its Ugandan interests to Italy's Eni for up to $1.5 billion as the Italian oil major builds its presence in Africa through acquisitions.
Tanzania could become the biggest gold producing country in Africa following new discoveries of gold in the most unlikely areas of Lindi and Nachingwea districts in the south of the country.
Its exactly 10 years since the East African Community(EAC) was revived. Last Friday all roads led to Arusha for the anniversary and Summit.
The images of past and current Kenyan heads of state could soon fade from local currency if the newly unveiled draft constitution sails through.
Presidents of member states of East African Community on Friday signed the Common Market Protocol paving way for free movement of goods, labour and services in the region.
In 2008 Uganda saw total milk production in the country grow from 365 million litres to 1.5 billion litres per year, the Diary Development Authority (DDA) has said.
The East African Business Council (EABC) has congratulated the region's heads of state on signing the common market protocol.
The deaths of four people at a small-scale gold mine in Tarime District points to a worrying trend that is becoming all too familiar.
The steady shift from equities to fixed debt instruments as the main form of raising capital by both public and private entities has exposed the lack of depth in the capital markets when it comes to competently handling bond transactions.
A Kigali bound Tanzanian registered bus was on Saturday involved in an accident that instantly killed two Rwandan passengers.
UNRELIABLE and interrupted electricity supply has hindered industrial growth, a minister said last week.
THE five East African Community Heads of State on Friday signed the Common Market Protocol, which allows free movement of people, goods and capital across the member states. The protocol becomes effective on July 1, 2010 after ratification by member countries.
South Africa-based Elgin Engineering and the state-owned Tanzania State Mining Corporation (Stamico) are jointly constructing a $20 million mining equipment manufacturing facility.
An ambitious investment programme by the Kenya Electricity Generating Company could, in less than five years, end the East African powerhouse's reliance on expensive fossil-fuel based power from independent power producers.
The government's plan to introduce a bulk procurement system for petroleum products is threatened by a plot to halt or delay its implementation, even as the relevant consultancy firm presents its final report.
A businessman accused of defrauding a medical doctor and a pilot of Sh7 million alleging he would invest the money on their behalf was charged on Monday.
Kenya's fragile manufacturing sector is set to get a boost in the marketplace next month as the government tightens its grip on the production and sale of fake goods with the establishment of a new agency.
Regional economies will continue to see a shift towards information based activity as the telecoms sector drives economic growth in the future, a survey of senior executives has found.
Teachers coming out of training institutions but fail to be absorbed in government employment in Kenya will soon find jobs in other African countries once a mobility protocol within the African Union is signed.
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