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Month: June 2018

Kenya Airways Gets Additional U.S.$42.6 Million From Banks

by Jack Smith - 01625

Eight Kenyan banks including Equity and KCB have advanced national carrier Kenya Airways additional loans amounting to Ksh4.3 billion ($42.6 million) as part of the ongoing capital restructuring at the airline. The new debt is backed by government guarantees, protecting the lenders from the national carrier's default. The airline, known by its

VW’s Skoda Auto May deliveries rise 13%

by Tola Ojobo - 01607

FILE PHOTO: The Skoda Vision X car is presented during an event at the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 5, 2018. REUTERS/Denis Balibouse/File Photo   Prague (Reuters) - Global deliveries by Volkswagen’s Czech carmaker Skoda Auto rose 13.4 percent year-on-year in May, posting the best-ever result for the

Land Rover Discovery model moved to Slovakia from the UK

by Tola Ojobo - 01567

Jaguar Land Rover (JLR) has said it will move production of its Land Rover Discovery SUV from the West Midlands to Slovakia from next year. The Solihull factory, where the Discovery is manufactured, will be used to build a new generation of Range Rover models, the firm said. The company warned that

Daimler forced to recall Mercedes with defeat devices

by Tola Ojobo - 01613

FILE PHOTO: The Mercedes-Benz logo is seen before the company's annual news conference in Stuttgart, Germany, February 4, 2016. REUTERS/Michaela Rehle/File Photo   The German government has ordered carmaker Daimler to recall 238,000 vehicles in Germany after they were found to be fitted with illegal software that masks diesel emissions. Across Europe, a

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