BY MICHAEL MARRIOTT High profile data breaches are regularly in the news and, seemingly, businesses are losing the battle to protect their intellectual property (IP), corporate, and customer data from the threats posed by professional cybercriminals. It is no surprise that financial gain is the single biggest motivator for cyberattacks. The 2016 Verizon Data Breach Investigations Report highlighted that financial gain and espionage accounted for more than 89% of all data breaches they studies. Financial gain was by far the biggest single reason for attacks, beating espionage and all other objectives into a distant second place. This is big business…
Author: NBM CORRESPONDENT
With an aim of making information easy to find in a single place, KLM Royal Dutch Airlines commenced offering her customers around the world booking confirmation, check-in notification, boarding pass and flight status updates in 10 languages on Twitter and WeChat as of June 9. According to Pieter Elbers, KLM President & CEO, the new service will be available to all KLM customers who book tickets or check in via KLM.com and opt-in to receive information via Twitter or WeChat. The rollout started last month and the service will be more widely available in the coming weeks, and will be…
BY PETER WANYONYI Back in the early 1970s, the United States military required a communications network that emphasised robustness and the ability to survive sustained attacks. It was the height of the Cold War, and maintaining communications in the event of nuclear holocaust was a real concern that had economic and political consequences for the US and her allies. The US government, through the military, recognised the importance of this work and commissioned the development of a robust packet-switched network whose basic principles included a protocol that handled the transmission of traffic using a deceptively simple but effective methodology. That…
Iflix, an Asia-based video-on-demand (VOD) service, will launch in Nigeria, Zimbabwe, Tanzania and Kenya in August. Founded in 2015 in Malaysia, iflix has rapidly expanded across Southeast Asia, the Middle East and North African markets. In March, to back its expansion into new markets, including Africa, iflix raised $90 million (Sh9.3 billion) in a funding round, which included Liberty Global, one of the world’s largest media companies and Zain, the Kuwait-based mobile operator. But rather than take on Netflix which launched in Africa in Jan. 2016 and whose pricing will mainly target Africa’s wealthier middle class customers, iflix is looking to position itself as…
Kenyan banks have two months to compile and file with the Central Bank of Kenya (CBK) detailed reports of how they plan to confront emerging cyber security threats. The CBK, which is the financial services sector regulator, says in an industry guidance note that the move is intended to ensure stability of the industry as it continues to automate its processes. “All institutions are required to submit their cyber security policy, strategies and frameworks to the Central Bank of Kenya by August 31, 2017,” the draft guidance note on cyber risk says. “CBK is well aware of the fact that…
By Kosta Kioleoglou For several months now, there has been speculation about what will happen during the August elections. This is a special year, with several important upcoming events locally and internationally, which might create a volatile environment. Since the beginning of the year, news about the economy and the market has not been very positive. Before analysing the property market, it is useful to review the macroeconomic data and how they affect daily life in the country. Besides, the country’s economic growth is now forecast to slow down; the IMF says it is likely to be around 5.3% instead…
Repaying your bank loan or mortgage blindly, without knowing exactly the interest and other charges you are paying over and above the principle will now be a thing of the past. The Central of Kenya (CBK) has simplified and brought to your fingertips the ability to calculate the total cost of credit to inform your decision-making prior to taking up a loan product. In partnership with the Bankers Association of Kenya (KBA), the CBK has launched a new Cost of Credit Website that will provide information on fees and charges relating to loan products offered by commercial and microfinance banks.…
Nearly a decade after the worst economic downturn since the Great Depression, a new Pew Research Center survey finds global economic spirits are reviving. Many Europeans, Japanese and Americans feel better today about their economies than they did before the financial crisis. More broadly, in 11 of 18 countries that were surveyed in both 2016 and 2017, publics feel more positive about their economy than they did a year ago. The Dutch, Germans, Swedes and Indians see their national economies in the most positive light. While global publics are increasingly upbeat about economic conditions, the overall view of the economy is…
BY ANTONY MUTUNGA During the end of the 19th century, the world was introduced to something spectacular in the corporate scene not knowing it will become one of the most important applications in the business world, Mergers and acquisitions (M&A) started making its presence felt around the globe. Starting off with the first wave of mergers and acquisitions that only involved horizontal mergers, it has evolved to the current stage which has seen companies not only move from horizontal mergers but also include takeovers. The increased competitiveness in the business world was a major reason for its growth, making it…
By Isaac swila Long before the emergence of betting and gaming firms in, the local sports landscape was that of squalor. Not only was the industry financially starved but clubs, federations and associations also struggled to make ends meet. Cases of teams failing to fly out to world capitals to honour championships and tournaments were common phenomena – they still are. On the football scene, it was usual, or rather normal to find players trekking to training for lack of fare as others were locked out of their residences for defaulting on rent payment were plenty. Well, it’s not that…