Tag Archives: economy

Surge in prices could cause inflation flare up, squeeze Ugandan economy further – experts Uganda’s consumer price inflation fell more than expected in the past three months to September, thanks to a huge drop in non-food prices during the period, but economists say the downward trend is unlikely to be …

THE LAST WORD: By Andrew Mwenda Why Museveni has not transformed agricultural Uganda into an industrial economy and what can be done President Yoweri Museveni’s stated objective is to transform Uganda from an agrarian to an industrial nation. He has been in power for 30 years, the period South Korea …

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 …

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 …

President Yoweri Museveni has reassured Ugandans that plans are fully on track for the country to have a national airline. The president said the airline is finally viable, as Ugandans alone are now spending up to $420 million (sh1.4 trillion) annually on travel. “We are now finalizing the modalities,” Museveni told the nation as …

THE LAST WORD: By Andrew M. Mwenda Why foreign direct investment is overrated and why Africa needs to cultivate local businesses There is a fad in Africa. It is called Foreign Direct Investment (FDI). Across our vast continent, foreign investors are the most treasured visitors. Practically every country is obsessed …

Tokyo, Japan | AFP |  A fifth of the Japanese workforce faces the risk of death from overwork, according to a new government survey into the country’s notoriously strenuous working culture. Hundreds of deaths related to overwork — from strokes, heart attacks and suicide — are reported every year in …

Beijing, China | AFP |  China’s mountain of foreign exchange reserves dropped around $19 billion in September to a five-year low, government data showed, with the central bank spending heavily to defend its currency against capital outflows. The world’s largest currency hoard fell to under $3.17 trillion, the People’s Bank …

Washington, United States | AFP | Recruits into the Islamic State group are better educated than their average countryman, contrary to popular belief, according to a new World Bank study. Moreover, those offering to become suicide bombers ranked on average in the more educated group, said the newly released study …

Abuja, Nigeria | AFP |  Nigerian President Muhammadu Buhari is selling two of his jets in a bid to cut costs as the West African country battles to overcome a recession. In a statement released late on Tuesday, presidential spokesman Garba Shehu said that Buhari is reducing the number of …