Tag Archives: economy

Nairobi, Kenya | Xinhua | The World Bank on Tuesday forecasted the sub-Saharan Africa (SSA) economy to slow to 3.6 percent in 2023 and rise to 3.9 percent in 2024. According to the World Bank’s latest Global Economic Prospects report, the growth was revised down for almost 60 percent of countries, …

London, UK | Xinhua | United Kingdom (UK) Prime Minister Rishi Sunak pledged to halve inflation and boost the country’s economy in his first major speech in 2023 on Wednesday. Sunak made five pledges. These are: to halve inflation; to grow the economy; to reduce national debt; to cut hospital waiting …

Kampala, Uganda |  THE INDEPENDENT | Uganda Revenue Authority-URA started the calendar year 2023 with explanations regarding the new plan for the taxation of the incomes of artistes in the entertainment industry. This is one of the revenue measures being put in place for the financial year 2023/2024 which begins in …

New York, U.S. | Xinhua | Oil prices fell sharply on Tuesday amid growing concerns over the global economic outlook. The West Texas Intermediate for February delivery dropped 3.33 U.S. dollars, or 4.15 percent, to settle at 76.93 dollars a barrel on the New York Mercantile Exchange. Brent crude for March …

Tunis, Tunisia | Xinhua | Germany has signed two agreements to donate 105 million euros (112 million U.S. dollars) to Tunisia to support the country’s economy, the Tunisian Foreign Affairs Ministry said in a statement on Friday. “The two agreements cover vital areas of cooperation, including regional development, support for decentralization, …

Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund (IMF) has reached an agreement with the Ugandan government for a release of about 240 million US Dollars (873.8 billion Shillings) in financing to the country. The agreement which is subject to approval by the IMF Board, is part of the …

COMMENT | MICHAEL JJINGO | What should we do? “The continuing spike in prices is bad for consumers, for our economy, and bad for all other businesses. It’s hurting us and costing us jobs” Jodi Rell. Apart from the Covid 19 lock down effects, Russia’s invasion of Ukraine hit the commodity …

Players task government to walk the talk at 13th national competitiveness forum Kampala, Uganda | JULIUS BUSINGE | Private sector players have asked government to walk the talk while promising to boost private sector activities that drive overall growth of the economy. The call was made by multiple speakers at the …

Kampala, Uganda | THE INDEPENDENT | Parliament calls for sensitization of traders before the full implementation of the Electronic Fiscal Receipting and Invoicing System (EFRIS). The House chaired by Deputy Speaker, Thomas Tayebwa on Wednesday, 07 December 2022 adopted the report of the Committee on Tourism, Trade and Industries recommending changes in …

  Smaller African countries are punching beyond their weight to diversify their economies from agricultural dependence, a new report shows. Nairobi, Kenya | BIRD AGENCY | A new report shows that value-add factories and public-private partnership are helping small African countries industrialize much faster than their larger peers. The recently …