Business

Johannesburg, South Africa | AFP | South Africa’s economy unexpectedly contracted in the first quarter of this year, pushing the continent’s most advanced economy into its first recession since 2009, according to official statistics released Tuesday. The data, which also showed unemployment hitting a 14-year high, are expected to pile more …

Lillian Keene-Mugerwa is the managing director of International Employment Linkages (IEL). She spoke to the Independent’s Agnes E Nantaba about externalization of labour as a solution to Uganda’s unemployment. What key elements encompass your management philosophy? The whole issue in management waters down to value because even if you are …

Uganda government agencies in charge of roads, water and electricity have been given the go-ahead by Kampala City Council Authority (KCCA) to start work on several projects that will use part of the land now housing Centenary Park. According to a statement released by the office of the KCCA executive …

Cancún, Mexico | AFP |  The International Air Transport Association (IATA) increased its profit forecast for the global airline industry Monday, citing surging demand. Total profits for the group’s 275 member airlines are now expected to hit $31.4 billion this year, up more than five percent from the previous forecast …

Business leaders want economic reforms to boost the economy Planned government borrowing and increased taxes to fund the Shs29 trillion budget for financial year 2017/2018 have left investors and business leaders worried about the coming year, ahead of the budget announcement next week, an informal survey by The Independent has …

Kampala, Uganda| CSBAG|  Every time a government official comes out to explain why the economy is poorly performing, they cite external and natural factors. These range from slow growth in China, to fall in commodity prices, tight financing conditions in Europe, and geo-political events such as Brexit and U.S politics. …

Pretoria, South Africa| Jakkie CILLIERS | ISS TODAY|  As part of the ‘Africa rising’ narrative, much has been made of the continent’s growth story. The global recession of 2007/8 hit Africa hard, but it remained remarkably resilient, with growth forecast to 2030 at around 1.3% faster than average growth rates …

Abu Dhabi, United Arab Emirates | AFP |  Abu Dhabi’s Etihad Airways said Monday it would suspend flights to Qatar after the United Arab Emirates was among major Gulf states to sever ties with Doha in an unprecedented regional crisis. Etihad said flights would stop on Tuesday, after the UAE, …

Washington, United States | AFP | The World Bank is keeping its forecast for global growth in 2017 unchanged, because for the first time in years, no new risks have arisen to threaten the outlook. “Over the past four years this is the first time we didn’t have a downgrade …

Indians, local traders struggle as red dragon invades retail If any one place can be described as the heartbeat of Uganda’s retail business, it is Kikuubo Road; a half kilometer road in down town Kampala, that is an open market yard. At any time of day it is so packed …