Business

Oslo, Norway | AFP |  Sales of new electric cars in Norway hit a record high last year, sector experts said Friday, reaching 42.4 percent of all nearly-registered cars in 2019, mostly thanks to strong demand for Tesla’s Model 3. Norway, a major oil producer that has pioneered electric mobility, …

Kampala, Uganda | THE INDEPENDENT | Pearl Dairy Farms Limited, the producers of LATO Milk and the initiators of the LATO Help initiative last month brought together its beneficiaries and their parents at a Christmas party held at Lohana Academy in Kampala. The “Lato Help initiative” is  under the company’s …

Kampala, Uganda | THE INDEPENDENT | The Uganda National Bureau of Standards (UNBS) has opened the UNBS national food safety laboratory building whose construction started in 2010 when the body acquired land to build its headquarters in Bweyogerere Industrial Park. Ben Manyindo, the UNBS executive director said on Dec.12. The …

Kampala, Uganda | THE INDEPENDENT | The Institute of Certified Public Accountants of Uganda has awarded scholarships to 10 students, six of whom are female and four are male.This is to enable them pursue the Certified Public Accountants of Uganda (CPA-U) qualification. The beneficiaries are fresh university graduates drawn from …

Kampala, Uganda | THE INDEPENDENT |  Vivo Energy Uganda’s national customer promotion that will see over 15,000 motorists rewarded with up to Shs600million worth of prizes has started. The promotion that started on Dec.16 will run up to Feb.16 at 105 Shell service stations across the country Dubbed 10 Weeks …

China starts lifting restrictions on foreign investment Beijing, China | AFP |  China has started lifting major restrictions on foreign investment in its financial sector, a move long demanded by the United States as the world’s two biggest economies are locked in a fierce trade battle. From the start of …

  Gulu, Uganda | THE INDEPENDENT | Two people have been killed and two others critically injured after a Kampala-bound trailer overturned in Gulu District. The accident happened from Oroko village, Medde Parish in Palaro Sub-County, about 70 kilometres north of Gulu town on Thursday morning. The single-cabin truck registration …

FDI expected to be reached by April 2020 ANALYSIS | LIAM TAYLOR – Africa Business Magazine  | Oil deposits have sat beneath the shores of Lake Albert, in western Uganda, for millions of years. Since its discovery in 2006, plans to extract the oil, estimated at over 1bn recoverable barrels, …

Growth is projected to range between 5.5-6% compared to 6.2% in 2018 Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy performed below expectations especially towards the end of the year, according to the latest Bank of Uganda Monitory Policy Report. In addition, an analysis of the different monetary policy reports, …

Beijing, China | AFP | Chinese telecommunications giant Huawei said Tuesday that “survival” was its top priority after announcing 2019 sales were expected to fall short of projections as a result of US sanctions. The global leader in telecom networking equipment has been effectively banned by the United States from …