German firm Bayer is cutting back in Kenya, handing off major tasks. This follows UK’s GlaxoSmithKline and foreshadows Procter & Gamble’s future departure. Rising taxes, a weak shilling, and high energy costs are driving companies out. The Kenya Association of Manufacturers predicts more exits, pointing to growing financial pressures. Loan defaults in manufacturing have hit […]
Related Posts
Brazilian Tech Firm Intelbras Grows Profit 17% Amid Currency Pressure in Q3
Intelbras, a leading Brazilian technology and electronic security company, released its third-quarter 2024 financial report. The firm showed resilience in the face of economic challenges. Intelbras reported a net profit of R$130.2 million ($23.25 million), marking a 17.8% increase from the previous year. The company’s net revenue reached R$1.24 billion ($221.43 million). This reflects a […]
Oil Prices Edge Up Slightly, Yet End Week with Over 3% Decline
The global oil market experienced a subtle shift on Friday, November 1, 2024. Brent crude for January delivery inched up by 0.40% to $73.10 per barrel. Similarly, West Texas Intermediate (WTI) for December delivery rose by 0.33% to $69.49 per barrel. Despite these modest gains, both benchmarks recorded significant weekly losses. Brent crude fell by […]