Business

Johannesburg, South Africa | AGENCIES | After writing, South African Airways has entered bankruptcy protection. As yet, it’s unclear what this means for the long-term future of the airline, but the airline must show appointed financial practitioners it can secure the funds to avoid liquidation according to South African law. …

  Johannesburg, South Africa | AFP |  South Africa’s electricity utility Eskom at the weekend resumed power outages, citing a “vulnerable” generating system, just weeks after implementing the severest rationing in recent times. The debt-laden company which generates around 95 percent of the country’s electricity, on Sunday said the cuts …

Oslo, Norway | AFP |  Sales of new electric cars in Norway hit a record high last year, sector experts said Friday, reaching 42.4 percent of all nearly-registered cars in 2019, mostly thanks to strong demand for Tesla’s Model 3. Norway, a major oil producer that has pioneered electric mobility, …

Kampala, Uganda | THE INDEPENDENT | Pearl Dairy Farms Limited, the producers of LATO Milk and the initiators of the LATO Help initiative last month brought together its beneficiaries and their parents at a Christmas party held at Lohana Academy in Kampala. The “Lato Help initiative” is  under the company’s …

Kampala, Uganda | THE INDEPENDENT | The Uganda National Bureau of Standards (UNBS) has opened the UNBS national food safety laboratory building whose construction started in 2010 when the body acquired land to build its headquarters in Bweyogerere Industrial Park. Ben Manyindo, the UNBS executive director said on Dec.12. The …

Kampala, Uganda | THE INDEPENDENT | The Institute of Certified Public Accountants of Uganda has awarded scholarships to 10 students, six of whom are female and four are male.This is to enable them pursue the Certified Public Accountants of Uganda (CPA-U) qualification. The beneficiaries are fresh university graduates drawn from …

Kampala, Uganda | THE INDEPENDENT |  Vivo Energy Uganda’s national customer promotion that will see over 15,000 motorists rewarded with up to Shs600million worth of prizes has started. The promotion that started on Dec.16 will run up to Feb.16 at 105 Shell service stations across the country Dubbed 10 Weeks …

China starts lifting restrictions on foreign investment Beijing, China | AFP |  China has started lifting major restrictions on foreign investment in its financial sector, a move long demanded by the United States as the world’s two biggest economies are locked in a fierce trade battle. From the start of …

  Gulu, Uganda | THE INDEPENDENT | Two people have been killed and two others critically injured after a Kampala-bound trailer overturned in Gulu District. The accident happened from Oroko village, Medde Parish in Palaro Sub-County, about 70 kilometres north of Gulu town on Thursday morning. The single-cabin truck registration …

FDI expected to be reached by April 2020 ANALYSIS | LIAM TAYLOR – Africa Business Magazine  | Oil deposits have sat beneath the shores of Lake Albert, in western Uganda, for millions of years. Since its discovery in 2006, plans to extract the oil, estimated at over 1bn recoverable barrels, …