Hong Kong, China | AFP | Asian equity markets tanked and the yuan hit an 11-year low Monday after US President Donald Trump ramped up his trade war with China by hiking tariffs on more than half-a-trillion dollars worth of imports. However, dealers pared earlier steep losses after the president said …
Read More »Uganda for the first time exports more to Kenya, than it imports
Kampala, Uganda | THE INDEPENDENT | For the first time, Uganda registered USD 122 million trade surplus with Kenya, with exports worth USD 628 million to and imports worth USD 505 million. Uganda had in the previous year exported goods valued at USD 475 million and imported goods valued at USD …
Read More »Rethinking ban on importing used cars
Gov’t could lose nearly Shs200bn annually; thousands of jobs at risk Kampala, Uganda | JULIUS BUSINGE | Supporters of a ban on import of cars older than eight years would be much happier if the current law, The Traffic and Road Safety Act, 1998, is amended. But opponents, however, say it …
Read More »VIDEO: Fuel trucks stuck as online verification system breaks down
VIDEO: Fuel trucks stuck as online verification system breaks down Kampala, Uganda | NTV UGANDA | Hundreds of fuel tanks are stuck at the Busia border, a major route to Kenya as government races against time to get enough fuel supplies ahead of the Kenyan election This is after the online …
Read More »Rwanda to reject low quality imports
President Kagame makes pledge during visit to SEZ President Kagame on Jan.07 toured the Special Economic Zone where he visited four factories manufacturing different products within the ‘Made in Rwanda’ framework. While addressing business people with operations within the Special Economic Zone at the conclusion of the tour, President Kagame …
Read More »Nigeria takes on oil giants Chevron, Total over ‘illegal exports’
Lagos, Nigeria | AFP | Chevron and Total on Friday failed to have a court throw out a case implicating them in the alleged failure to declare billions of dollars of crude exports from Nigeria. The US and French companies are among up to 15 oil majors reportedly targeted …
Read More »The Chinese imports scourge
Govt, manufacturers tussle as cheap Chinese imports supplant local content at big infrastructure projects Abid Alam, the proprietor of Steel Rolling Mills, knows who is responsible for the predicament facing the manufacturing sector – the government, which has failed to enforce guidelines that contractors undertaking the ongoing big infrastructural projects …
Read More »Standard Gauge Railway taking shape
Funding deal with Exim Bank to be signed in October, DR Congo also joins Standard Gauge Railway Roofings Ltd, a steel manufacturer based at Lubowa near Kampala, imports almost all its raw materials from abroad through Mombasa Port. To transport a tonne of raw materials by road for one kilometer, …
Read More »Balance of trade quandary
Government, analysts search for elusive answers over declining exports, rising imports About 700 trucks enter Uganda daily from Mombasa Port in Kenya, loaded with all types of goods. However, most of them go back empty for lack of exports, a situation that makes transport costs rather prohibitive for Ugandan importers. …
Read More »UBOS: Prices for manufactured goods increases
Uganda Bureau of Statistics (UBOS) has revealed an increase in prices of manufactured goods by 5.1% between April 2015 and April 2016. Some of the contributors to the annual increase include processed food by 8.1%, a result of a rise in sugar by 20.7%, processed coffee by 10.3%, vegetables and …
Read More »