NAIROBI
cheap air jordan 12 dark grey mens , May 2 (Xinhua) -- Commercial banks have raised their stake in Kenya's domestic debt by 4 percent in the last two months as they seek to make up for reduced earnings in a tough lending environment.
The increase from 51 percent at the end of February to 55 percent at the end of April means the banks have lent more money to the government through Treasury bills and bonds, Central Bank of Kenya (CBK) data shows on Tuesday.
Kenya's domestic debt currently stands at 19 billion U.S. dollars up from slightly above 18 billion dollars in February.
This means commercial banks have lent to the government some 10.5 billion dollars with the remainder being shared by parastatals (6 percent), insurance companies (7 percent), pension funds (28 percent) and individual investors.
Kenya introduced changes to commercial banks' lending regime last September, capping interest rates at 4 percent above the CBK rate
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The law pushed down lending rates of some commercial banks by half as the charges before the law ranged at between 18 and 28 percent.
Though introduced in the third quarter of 2016, commercial banks earnings declined last year, with the drop being blamed on the law.
Kenya Commercial Bank (KCB), Barclays Bank, Equity Bank
air jordan 12 dark grey mens , NIC Bank and Stanbic are among the big banks in the East African nation which recorded decline during the period.
KCB, the country's largest bank by assets, posted a flat net profit of 191 million dollars, NIC Bank recorded a 3.3 percent decline in earnings, Barclays Bank 12.6 percent and Stanbic Bank 9.9 percent.
Kenya Bankers Association chief executive officer Habil Olaka recently said lenders are currently diverting more funds to Treasury bills and bonds and other opportunities in the forex market rather than lending to borrowers
"The government debt borrowed through Treasury bills and bonds is less risky and more profitable in the wake of the rate capping law
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On the other hand, private sector lending growth fell to 4.3 percent in 2016 compared to more than 17 percent a year earlier, according to the Central Bank.
Besides investing in government securities, Kenyan banks have embarked on other measures to protect their profits in the changed environment, which include closure of branches and moving services online and on mobile phones.
At least 10 financial institutions out of the 42 that operate in Kenya have announced job cuts and closure of branches
cheap jordan 12 dark grey mens , with close to 2,000 workers being affected and 20 branches closed.
Kenya has further witnessed a number of acquisitions in the sector, especially in the second half of 2016 and early this year, involving mainly smaller banks that have found the going difficult.
The International Monetary Fund (IMF) is among leading institutions that have called on Kenya to do away with the capping of interest rates, noting it is not good for Kenya's economic growth.
Analysts reckon that the full impact of the law will be felt this year
jordan 12 dark grey suede , therefore, commercial banks are set to lend more to the government to protect their income as they engage in more cost-cutting measures.
In the fast-paced modern world, a typical round of golf takes too much time away from family or work for many players, a survey commissioned by the sport's governing body showed -Monday.
The R&A, based in St Andrews
jordan 12 dark grey mens , Scotland, received responses from 56,000 golfers in 122 countries and regions about their experience of playing a typical 18-hole round of golf which lasts between three and four hours.
Although 70 percent were largely happy with the duration of their rounds, 60 percent said they would like the game better if it took less time to play.
The view was much more pronounced among the younger generation.
The survey found that of 25- to 44-year-olds who said they were never happy with the pace of play, 21 percent said a round would have to take an hour and half or less for them to play more often. Of the roughly 8
www.airjordan12darkgrey.com ,500 golfers in that age range who responded, The R&A said 19 percent said they would like to play nine holes as an alternative form of the game.
The people surveyed generally played two rounds of golf a week, making them fairly avid players.
"This survey is the first step for us in examining, in -detail, the wide range of issues -currently affecting participation in golf
air jordan 12 dark grey release ," Duncan Weir, an -executive director at The R&A with responsibility for developing the game, said in a statement.
The R&A said it would hold a forum later this year to discuss the pace of play and other issues affecting the game.
SYDNEY， Feb. 1 (Xinhua) -- At just seven years of age， Fred Lan will take part in Sydney's Lunar New Year celebrations， demonstrating the art of Kung Fu each weekend during the City of Sydney festival.
As the youngest of the 1，000 performers gracing Sydney's Spring Festival， Lan is "a little nervous but mostly excited to be part of the Chinese New Year Festival."
"I'm excited to dress up in my costumes for my Kung Fu performances， and see lots of other people in traditional costumes doing different performances and dances，" Lan said.
Lan has been training with his father every day since he was a toddler and is a member of the New South Wales Chin Woo Athletic Association， practicing Tai Chi， Wushu and Kung Fu.
"I love doing martial arts and I can't wait to show everyone at the festival my skills in punching， spinning and kicking，" Lan said.
"Chinese New Year is a lot fun， and I hope I get a lot of red packets with money!"
It's not just the exuberance of youth on display at the largest Spring Festival celebration outside of Asia.
Ms Zhang， 77-year-old， has spent a year patiently choreographing a performance for her over-50's dance troupe， the Hokien Huay Kuan Group.
"Ag.
