Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Tuesday, 2 August 2016

Kenya Power to begin Providing Internet in December


The Kenya Power and Lightening Company (KPLC) will roll out its fiber internet to homes in December after a series of delays, Managing Director Ben Chumo has said.

 The utility firm is targeting 12,000 homes in Nairobi in the pilot phase before rolling out the service countrywide.

The firm aims at taking advantage of the 5 million homes connected to electricity to deliver fibre internet to the homes.

 The first phase of the project aims at connecting 20 million people at once. KPLC formed an Internet service provider subsidiary called Kenya Power International to run its Internet business.

 The fibre-optic cable is set to run on KPLC power lines covering approximately 4ooo kilometeres. The MD Mr.

Chumo further added that the firms aims at making the service ultimately cheaper because the costs that would be incurred on digging trenches is saved.

Sunday, 31 July 2016

Amazon Boss Jeff Bezos becomes world's third richest


Strong earnings from Amazon and a boost to the company's stock have made its founder, Jeff Bezos, the world's third richest person, according to Forbes.

Mr Bezos owns 18% of Amazon's shares, which rose 2% in trading on Thursday.
Forbes estimated his fortune to be $65.3bn (£49.5bn). Amazon's revenue beat analysts' expectations, climbing 31% from last year to $30.4bn in the second quarter. Profit for the e-commerce giant was $857m, compared with $92m in 2015.

According to Forbes estimates, Mr Bezos's fortune is only surpassed by Microsoft founder Bill Gates, worth $78bn (£59bn), and the $73.1bn (£55bn) fortune of Zara founder Amancio Ortega.

Amazon had developed a reputation for announcing little or no profit each quarter, but appeared to hit a turning point last year and has seen improving earnings since. Amazon shares have spiked 50% since February