Tag Archives: economy

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) on Thursday further revised down its forecasts for this year’s global economic growth and oil demand, following a previous downward revision in May. The oil alliance said in its monthly report that the world economy is expected to …

NEWS ANALYSIS | THE INDEPENDENT | The prices of fuel in Uganda, particularly in Kampala have continued to rise, but at a slower rate over the last two months, compared to the sharp increases registered between March and early July. Ordinary motorists in Kampala had predicted that by the start …

Kampala, Uganda | THE INDEPENDENT | Legislators have applauded President Yoweri Museveni for putting emphasis on value addition of agricultural products saying it will transform the agricultural sector. This was during the debate on the President’s State of Nation Address which he delivered to Parliament on Tuesday, 07 June 2022. Namayingo District …

Kampala, Uganda | THE INDEPENDENT | Buyanja East County Member of Parliament, Emely Kugonza has said that the socio-economic transformation championed by President Yoweri Museveni has awakened Ugandans to meaningfully participate in the wealth and job creation initiative. “More Ugandans are embracing the urgent need to integrate into the money economy. They …

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling continues to depreciate against the US dollar as both local and external factors exert pressure on the local and other emerging currency markets. For more than a week, the shilling has just stayed short of touching the 3,900 level against the dollar, amidst …

New York, U.S. | Xinhua | While every modern U.S. president has stretched the truth now and then, Joe Biden’s routine misstatements about money and the economy seem to go unchallenged, reported The Hill in mid-July. “In recent months, as the economy has slipped into a soft recession and with inflation …

Kampala, Uganda | THE INDEPENDENT | The European Union has joined the Ugandan tourism sector and the civil society to demand increased government funding for the sector. The tourism sector is Uganda’s top foreign exchange earner, valued at US$ 1.6 billion in 2019/2020, while the number of foreign visitors was about …

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday slashed the global growth forecast for 2022 to 3.2 percent, down by 0.4 percentage point from the April projection, according to its newly released update to the World Economic Outlook (WEO). Several shocks have hit the world economy already …

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

Mastercard’s Farm Pass transforming lives of farmers in Uganda Kampala, Uganda | THE INDEPENDENT | The COVID-19 pandemic threw the world into disarray, but in Africa, life continues: Farmers farm, merchants sell, people apply for capital to create jobs and improve livelihoods, and a heightened need for access to healthcare underpins …