Afternoon business highlights

Kenya gets sh54 billion EU grant
The government has obtained a sh54 billion grant from the European Union (EU) to support development of the devolved units.
The funds will be directed to sectors related to President Uhuru Kenyatta’s big four development agenda such as healthcare, manufacturing, housing and job Creation.
The EU says the funds are to be utilized in such a way that people at the grass root level are impacted.
Iran nuclear deal: France condemns US move to re-impose sanctions
France has condemned as “unacceptable” a US move to re-impose sanctions on companies trading with Iran.
The action from Washington followed President Donald Trump’s decision to pull out of a landmark deal that sought to curb Iran’s nuclear programme.
French Foreign Minister Jean-Yves Le Drian said European companies should not have to pay for the US decision.
The US says firms have six months to halt business and cannot enter into new contracts or they will face sanctions.
In an interview with Le Parisien, the foreign minister said: “We feel that the extraterritoriality of their sanction measures are unacceptable. The Europeans should not have to pay for the withdrawal from an agreement by the United States, to which they had themselves contributed.”
Rolls-Royce takes high road with new SUV
Rolls-Royce has become the latest luxury car maker to launch an SUV.
Chief executive Torsten Müller-Ötvös said the new Cullinan, which will cost more than £200,000, was a “seminal” moment and probably the “most anticipated” Rolls-Royce ever.
Bentley and Lamborghini have already launched SUVs, while Ferrari will follow next year.
Automotive analysts said Rolls, which is owned by BMW, had to follow suit to keep up with changing consumer demand.
The launch of the Cullinan, named after the world’s biggest diamond that is part of the Crown Jewels, marks a shift away from the luxury saloon cars that Rolls-Royce is best known for.

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