Tag Archives: economy

Kampala, Uganda | XINHUA | The World Bank said in a report Wednesday that digital technologies are critical in reviving Uganda’s economy, which has been hit hard by the COVID-19 pandemic. The international finance institution said in the latest edition of the Uganda Economic Update that the country’s economy this …

Kampala, Uganda | XINHUA | Artificial Intelligence (AI) has the potential to contribute nearly 16 trillion U.S. dollars to the global economy by 2030, said John Hoffman, CEO of GSMA Ltd. While making a speech at the online summit of the 2020 World Artificial Intelligence Conference that opened Thursday, Hoffman …

Kampala, Uganda | XINHUA | Workers in food and accommodation, and wholesale and retail trade, are the hardest hit for having the least “teleworkable” jobs, with the poor, the young and women being more vulnerable than others, according to the International Monetary Fund (IMF). “Young workers and those without university …

Kampala, Uganda | XINHUA | United Nations Secretary-General Antonio Guterres on Wednesday highlighted the need for decent jobs to fuel the COVID-19 recovery. In a video message, the UN chief told heads of state and government and others attending a virtual meeting that they are essential to global efforts to “build …

Kampala, Uganda | THE INDEPENDENT | The amount of money where borrowers have not made any payments for at least three months grew by 15 percent to 783 billion Shillings between January and March 2020, the Bank of Uganda has said. This is a growth from 666.3 billion Shillings of …

Kampala, Uganda | XINHUA | British Prime Minister Boris Johnson warned Monday of bumpy times ahead amid a looming recession in Britain, but insisted there would be no return to austerity in the country. In a broadcast interview on the Times Radio newly launched in London, Johnson said he was …

Kampala, Uganda | Isaac Khisa | How can African countries boost cross-border financing solutions on the continent? This was the main issue discussed during the Pan-African e-conference hosted by the United Capital PLC, a Nigerian-based financial and investment Services Company, on Friday. Peter Ashade, the Group CEO at United Capital Plc. …

  Absa has reacted swiftly to the COVID-19 pandemic by designing, offering and implementing smart solutions and offering significant financial respite during these times. COMMENT | Vimal Kumar | When a crisis of the magnitude of Covid-19 strikes, it is our role as a responsible lender to put forward various immediate and …

Kampala, Uganda | XINHUA | The International Monetary Fund (IMF) on Wednesday revised down its forecast for the global economy amid the mounting COVID-19 fallout, projecting a 4.9-percent contraction in 2020. The latest projection is 1.9 percentage points below the World Economic Outlook (WEO) forecast released in April, indicating a …

Kampala, Uganda | XINHUA | South Africa will use infrastructure development to recover from the COVID-19 impact, said the country’s President Cyril Ramaphosa on Tuesday. Ramaphosa made the remarks while addressing the sustainable infrastructure development symposium in Pretoria. He pointed out that COVID-19 has disrupted global financial markets, production, trade and …