According to the OECD, the downward adjustment from its previous forecast is due to “higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending.”
In its previous Economic Outlook published in December 2024, the OECD projected that global GDP growth would be 3.3 percent in both 2025 and 2026.
NAIROBI, Kenya March 19 – Local consumer products manufacturer and distributor Tropikal Brands Afrika Ltd has launched a personal care range of products infused with natural ingredients to meet growing demand. Under a USD 3 million investment outlay, Tropikal Brands Afrika has unveiled the personal care range of products under the ALO brand name. Speaking…
APRIL 3 – Tesla sales have plummeted to their lowest level in three years after a backlash against its boss Elon Musk. The electric car maker delivered almost 337,000 electric vehicles in the first three months of 2025, a 13% drop from a year ago. Tesla shares tumbled in early trading on Wednesday after the…
NAIROBI, Kenya, Mar 10 – Two petitioners have urged the Judiciary to deem the Kenya National Public Health Institute (KNPHI) unconstitutional, arguing that it was illegally established and operated. In a petition tabled by the Kisii High Court, the two, Marage Gikenyi and Eliud Karanja, noted that the national government operating the institution is unconstitutional…
NAIROBI, Kenya, Mar 22 – Global Water Center (GWC) has rolled out a new project to improve access to safely managed water across East Africa, backed by $1.1 million (Sh142.5 million) in grants from the Grundfos Foundation and The Coca-Cola Foundation. The initiative, covering Kenya, Tanzania, Ethiopia, and Uganda, aims to address a critical shortage…
NAIROBI, Kenya Mar 25 – The Central Bank of Kenya (CBK) has warned commercial banks against failing to lower interest rates in line with monetary policy adjustments under the Risk-Based Credit Pricing Model (RBCPM). Appearing before the National Assembly Finance Committee, CBK Governor Kamau Thugge said the regulator has launched onsite inspections to ensure compliance…
NAIROBI, Kenya, April 1 – The Kenya Revenue Authority (KRA) is working on simplifying the Pay As You Earn (PAYE) filing system that discourages MSMEs from submitting returns. KRA Commissioner General Humphrey Wattanga explained the intricate PAYE system, which discourages compliance and creates an administrative burden for small businesses. “Our aim is to simplify this…
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