Beijing, China | AFP | Japanese automaker Nissan Motor and its Chinese joint venture partner announced on Monday a $9.5 billion investment plan in China to increase annual sales by one million vehicles and boost electric car production. Dongfeng Motor Company is the latest Sino-foreign car company to splash out …
Read More »Uganda could hire expatriates for oil jobs
Kigumba Petroleum Institute has trained just 133 locals with certificates and diplomas in oil and gas Kampala, Uganda | JULIUS BUSINGE | Uganda will start investing in the oil and gas infrastructure ahead of the planned production in 2020 but there are indication that majority of the work will be undertaken …
Read More »Sudan devalues pound to 30 against US dollar
Khartoum, Sudan | AFP | Sudan’s central bank Sunday announced it will devalue the local currency to 30 Sudanese pounds against the US dollar, the second such move in weeks amid soaring inflation. The new official exchange rate will go into effect on Monday, the central bank said on its …
Read More »BATU’s tax reprieve in Uganda
Kampala, Uganda | ISAAC KHISA | Products of cigarette maker, British American Tobacco (BATU) manufactured at its Kenyan subsidiary in the East African Community will now be exempted from Uganda’s excise duties. This follows a ruling in the East African Court of Justice (EACJ) on Jan 25, barring the Uganda revenue …
Read More »US jobs engine gathers speed in January as wages rise
Washington, United States | AFP | US job creation accelerated in January, as the labor market continued to absorb workers at a robust pace, unemployment clung to a record low and wages moved higher, the government said in a key report Friday. And with a near 10-year record in wage …
Read More »Apple overtakes Samsung in shrinking smartphone market: survey
Washington, United States | AFP | Apple overtook Samsung in the fourth quarter as the largest smartphone producer in a declining global market for handsets, research firm IDC said Friday. A survey by IDC showed Apple — which reported its quarterly data Thursday — led all vendors with 77.3 million …
Read More »Uganda and South Africa sign pact to strengthen trade relations, tourism
Kampala, Uganda | GODFREY SSALI | Trade Ministers from Uganda and South Africa have reaffirmed their commitment towards facilitating trade and investment flows between the two countries. The two ministers Amelia Kyambadde, the minister of Trade, Industry and Cooperatives and her counterpart Gratitude Bulelani Magwanishe, the South African Deputy Minister …
Read More »Black South African winemaker shakes up industry
Stellenbosch, South Africa | AFP | With a history dating back over three centuries, South Africa’s world-renowned wine industry has long been the domain of generations of just a few elite white families. But the emergence of a crop of new black players such as winemaker and owner of Aslina …
Read More »Facebook bans ads for cryptocurrencies
Washington, United States | AFP | Facebook says it is banning all ads related to cryptocurrencies in an effort to fight scams. The social media giant said it is barring ads for “financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, …
Read More »Will Uganda’s bank for cooperatives be a reality?
Cooperative banks worldwide were financed by cooperatives societies Kampala, Uganda | ISAAC KHISA | For some time now, Uganda’s cooperatives societies have expressed the need to re-establish the Cooperative Bank as their main source of capital for production, processing, diversification and value addition. Whereas they seem to have made a …
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