Kenyan stocks pared losses yesterday after a selloff rocked markets worldwide at the start of the week, with investor sentiment stabilising after a rush for exits amid fears of a US recession and signs of financial instability in Japan.

Jubilee Asset Management, a subsidiary of Jubilee Holdings, has launched a dollar-denominated fund that requires an initial minimum investment of $1,000 (Sh130,000), opening doors to retail and institutional individuals.

Tanzania-based conglomerate with diverse interests in energy, construction, food and transport has made a $180 million (Sh23.15 billion) bid to acquire the entire stake of Bamburi Cement in what will mark one of the largest takeover deals in the East African region.

Cabinet has approved the divestiture of the state’s shareholding in six listed firms on the Nairobi Securities Exchange (NSE), including its shareholding in the bourse itself.