Business

Beijing, China | AFP | China’s economy lost momentum in the second quarter, a survey shows, as Beijing’s efforts to curb risky lending and investment took a toll on the Asian powerhouse. The world’s second-largest economy expanded by 6.8 percent in the April-June period, compared with a year ago, according …

Nairobi, Kenya | AFP |  Mining company Acacia agreed Friday to pay more royalties to Tanzania’s government as it seeks an end to a dispute over alleged underreporting of production and profits. President John Magufuli accused the London-listed company, whose largest shareholder is Canadian Barrick Gold, of “theft” after a …

Moscow, Russia | AFP | Uber on Thursday announced that it was merging in Russia and five other ex-Soviet states with the taxi hailing app of the country’s leading internet giant, Yandex. “Uber and Yandex have entered into an agreement to form a new company,” the head of Uber’s operations …

Busia, Uganda |THE INDEPENDENT | President Yoweri Museveni has said Uganda’s big population is the country’s most important asset. Speaking in Busia July 11 as Uganda joined marked the World Population Day, Museveni hailed the NRM government for interventions that have resulted in citizens living healthier and longer lives than ever …

Kampala, Uganda | ISAAC KHISA | Lafarge’s subsidiary in Uganda, Hima Cement, will provide raw materials for the ongoing infrastructure projects being undertaken by China Communications Construction Company Limited in the country under a new trade deal. Allan Ssemakula, the commercial director at Hima Cement said the firm will supply cement …

Why raising micro, small and medium-sized enterprises might avert future backlashes by the poor on the rich COMMENT | Arancha Gonzalez| The fruits of economic growth are not being shared widely enough. In many advanced economies, the anaemic post-2008 recovery has benefited the relatively rich, while large numbers of households …

Survey shows regional institutional investor base expanding due to favourable demographics Africa Renewel | JOHN SCHELLHASE | Capital markets, where money from savers is put into long-term investments, can contribute significantly to socio-economic development if they invest in productive projects and enterprises. But small size and market illiquidity can undercut …

  Kampala, Uganda | JULIUS BUSINGE |  The Uganda Communications Commission (UCC) has written to the country’s largest telecom firm MTN, seeking clarification on the manner in which it set new tariffs for its over 10 million customers, without its approval. In the letter, dated July 7, 2017, the UCC …

  Arjun Malik is the chief executive officer of the London-based Prudential Assurance Uganda Ltd. He spoke to The Independent’s Ian Katusiime about the country’s insurance industry and the company’s performance so far. Walk us through your management ethos as CEO I don’t believe in micro-managing people. I like making …

Experts say the interest rates are very high Kampala, Uganda |Isaac Khisa| Micro-credit is fast becoming a darling to millions of Uganda’s population following the rollout of new credit windows between financial institutions and telecom firms. But financial experts are worried that the new products may not create as much …