Business Generation

Diesel shortage looms ahead of the festive season due to a standoff over offloading at Mombasa port.

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Kenya Shell says although MT Oriental Green arrived on November 29, 2009, the vessel had been denied priority to discharge 27,013 metric tons (MT) of diesel imported by the firm on behalf of the industry.

Instead, the ministry of Energy had informed Kenya Pipeline Company (KPC) to give priority to another tanker carrying diesel for Kenya Electricity Generating Company (KenGen) emergency generators over the Shell’s contracted vessel.

It is feared Shell’s consignment, which was expected to reach retail outlets by next week, will delay for a number of days.

Meanwhile, the ministry has awarded Mogas, under the open tender system (OTS), the contract to import 13,850 MT of petrol on emergency basis to avert shortage.

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Assistance may be available to borrowers that have complaints against their lenders for breaking the Truth in Lending Act and other laws governing loan agreements. Such violations could be a defense to a mortgage foreclosure. If there is a violation, you could be able to void the loan and apply all of your loan payments to the principal. You could also be entitled to repayment of money damages. You can find additional foreclosure information at this site http://www.loan-modification-masters.com.

Foreclosure Timeline – 50 States
The #1 thing that most real estate investors and homeowners facing foreclosure want to know is: “what is the timeline for foreclosure?” In other words: “how long does it take?” The answer is that the mortgage foreclosure process and timeline varies from state to state. This arti Read more…

BIRKENHEAD Christmas hampers to corporate gift voucher group Park saw revenues rise six per cent to £34.17m in the six months to September 30.

Losses before tax deepened from £3.58m to £4.17m due to the seasonal nature of the business which is unable to despatch and invoice 85% of its hampers until the second half of its financial year.

But group managing director Chris Houghton explained conditions were also tighter this year as finance income, the interest the company receives on funds it receives, was down from £1.8m to £500,000 due to low interest rates: “With the base rate at half a per cent it has been a bit difficult.”

Looking to full year results he said analysts predict a £5m profit which is slightly reduced but, again, impacted by low interest rates.

However, agent recruitment for Christmas 2010 is encouraging which Mr Houghton said means customer count will come back in 2010.

Chairman Peter Johnson said the lower Christmas orders for 2009 have been offset by increased corporate and online voucher sales.

Gift vouchers can be used as presents or staff incentives and Park is now targeting the small business sector were it sees sales potential.

A key issue for many businesses hoping to start or grow is the ability to raise financing for the business. Financing your business can be challenging despite so may sources available today. With bank lending becoming less popular with many entrepreneurs, business owners are increasingly turning to alternative sources of funding. As the owner of the business you are responsible for the rasing of finance. Few others in your business will be as committed to the process as you may be.

With the use of the internet, trade publications and newspapers it wont be long until you have a number of possibilities for business financing. However, while venture capital may be overflowing for the Internet start-ups, the real scenario for small businesses (and worse, home-based businesses) is far different.

Then again, business means risk, and success comes to those who focus on their goals and actually do something.

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CAR sales have risen for the fifth consecutive month, showing a healthy 57.6% increase during November compared with a year earlier.

Dealerships expressed their delight at the improvement in the market, but cautioned that a combination of factors could see sales slip back into the slow lane next year.

The latest figures, provided by the Society of Motor Manufacturers and Traders, confirmed that private sales as well as business and fleet transactions continued to grow.

Sue Robinson, director of new car dealers’ representative the Retail Motor Industry Federation, said the scrappage scheme had played a big part in the sales revival.

The latest Government figures show that 274,455 new vehicles have been ordered through the scrappage scheme, which offers cash incentives to scrap older models for more environmentally-friendly new vehicles, since it went live earlier this year.

With sales continuing to grow, the Government’s injection of a further £100m funding for the scheme was viewed as a positive move for the industry.

Ms Robinson said: “Car dealers and consumers alike have been benefiting from the improved market.

“However, we do have a slight concern that 2010 could be a more difficult year with the scrappage scheme ending, VAT rising and possible restrained public spending.”

Last month, Jaguar Land Rover, which employs about 2,000 staff at its Halewood plant in Knowsley, reported a second consecutive month of operating profits as sales of its two famous marques continued to improve.

The largest teachers’ savings and credit society in the country maybe headed for a fall following an unprecedented exodus of its members.

Documents of the giant Mwalimu sacco accessed by the Nation show that at least 100 teachers have ditched the society every month since January last year.

Those who have left said they were unhappy with the way their money was being managed, and cited a long list of ills gripping the society that they could no longer accommodate.

Top on the malpractices that they have cited include a lack of account statements, ‘exploitative’ interest rates on loans, wrongful deductions and lack of transparency in the management of their money. The documents further show that many members have continued servicing loans that they long cleared or their colleagues had guaranteed.

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