VIDEO: There were sad scenes of tears and despair as fire gutted Jinja’s Napier Market. The fire that happened at around 10pm on Friday, consumed items worth millions, leaving traders in ruins. The traders blame the police fire rescue team for not responding in time. The cause of fire is yet to …
Read More »VIDEO: KACITA to place industrial action against street vendors
VIDEO: Kampala city traders association KACITA has vowed to take industrial action against street vendors and hawkers. The action due Monday Oct 17 is intended to disperse the operations of vendors. KACITA accuses the vendors of ruining their business with backing from KCCA. The city authority though points to defiant vendors that keep coming …
Read More »Kyambadde meets Chinese, warns on petty trading
Chinese Business Community living in fear of being chased out of Uganda Trade Minister Amelia Kyambadde has asked Chinese doing business in Uganda to stop engaging in petty trade to avoid causing hostility among locals. Some Ugandan have for long complained about foreign petty traders depriving them of work. Kyambadde me …
Read More »Cut interest rates, MPs tell bankers
Members of the Parliamentary Committee on the National Economy want the banking industry to do something about the sky-high lending rates. The MPs made the appeal at a meeting with the Uganda Bankers Association in Kampala on Oct.03. The MPs organised the meeting to understand why interest rates in Uganda …
Read More »Kenya, South Africa vow to ease trade, visa barriers
Nairobi, Kenya | AFP | South Africa and Kenya vowed Tuesday to “soften borders” between the two regional powerhouses by easing trade and visa barriers, part of ongoing efforts to boost low levels of commerce within Africa. While both nations are economic giants in their respective regions, South Africa’s Jacob …
Read More »South African finance minister to be prosecuted for fraud
Johannesburg, South Africa | AFP | South African Finance Minister Pravin Gordhan will be prosecuted for fraud, officials said Tuesday, in a move that sent the rand tumbling over concerns about political rivalry and the country’s fragile economy. Gordhan, 67, was appointed only late last year to calm panicked investors …
Read More »Uganda electricity tariffs to drop October to December
Uganda’s Electricity Regulatory Authority (ERA) has announced new electricity end user tariffs with a reduction, implying that consumers in all categories will pay less in the fourth quarter October to December 2016. According to a statement from ERA, the reduction in the tariffs is as a result of a reduction …
Read More »Facebook launches intra-office ‘Workplace’ network
London, United Kingdom | AFP | Social network giant Facebook on Monday launched new global product Workplace, a platform that it hopes will replace intranet, mailbox and other internal communication tools used by businesses worldwide. It is intended to compete with similar office communication products including Microsoft’s Yammer, Salesforce’s Chatter …
Read More »Contract theory earns pair Nobel Economics Prize
Stockholm, Sweden | AFP | Two US-based academics won the Nobel Economics Prize on Monday for groundbreaking research on contract theory that has helped design insurance policies, executive pay and even prison management. Oliver Hart, a British-American economist, and Bengt Holmstrom of Finland “have developed contract theory, a comprehensive framework …
Read More »Battle at government printer
Wrangles escalate as Corporation seeks Shs18 bn for new equipment, renovations, staff recruitment Prolonged internal bickering at the Uganda Printing and Publishing Corporation (UPPC) is threatening the revival of the Entebbe- based government’s secret printer that has for many years operated at very low margins. This follows the recruitment of …
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