Business

Dubai, United Arab Emirates | AFP | IMF chief Christine Lagarde on Saturday urged Arab countries to slash public wages and subsidies in order to rein in spending, achieve sustainable growth and create jobs. Speaking at the one-day Arab Fiscal Forum in Dubai, Lagarde welcomed “promising” reforms adopted by some …

Kampala, Uganda | JULIUS BUSINGE | The Insurance Regulatory Authority (IRA) has so far issued eight certificates to banks to offer bancassurance (selling insurance policies) to their clients as one way of boosting the sector’s growth. Speaking at a press conference in Kampala on Feb.08, IRA officials including the Chief Executive …

Washington, United States | AFP | Twitter on Thursday reported its first-ever quarterly profit, a key milestone that sent shares soaring at the social network which has lagged for years behind fast-growing rivals. The San Francisco-based one-to-many microblogging service said it earned $91 million in the fourth quarter, the first …

NRM’s 32 year economy: If majority are praising it, why are experts worried about the future? Kampala, Uganda | JULIUS BUSINGE | One highlight of President Yoweri Museveni’s 32-year stay in power has been the massive efforts at resuscitating the economy. When Museveni and his group came into power in 1986, …

Kampala, Uganda | JULIUS BUSINGE |  The new headquarters of the Uganda Revenue Authority (URA) is on track for completion this year. According to Ian Rumanyika, the manager for public and corporate affairs in the Commissioner General’s office, the construction, which begun in August 2014 is expected to end in …

San Francisco, United States | AFP | Former Uber chief executive Travis Kalanick appeared tense and tentative as he took the witness stand Tuesday seeking to counter allegations that his company stole autonomous driving secrets from former Google car unit Waymo. A key witness in the blockbuster trade secrets case, Kalanick …

Tokyo, Japan | AFP | Bitcoin plunged 20 percent to a three-month low on Tuesday, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling. The virtual currency fell to $6,190 for the first time since mid-November, …

Over 38,261 jobs to be created in eight sectors Kampala, Uganda | ISAAC KHISA | Rwanda recorded a 30.7% growth in investment to US$1.675bn last year compared with the previous year, data from the country’s promotion agency, Rwanda Development Board (RDB) shows. According to the data, three sectors – construction and …

Creditor plan to auction buses to recover Shs 151 mn debt Kampala, Uganda | ISAAC KHISA | On the road leading to the Western gate of the Mandela National Stadium, located about 8 kilometres away from Kampala City Center on the Kampala-Jinja highway, one would easily observe that something wrong. Nearly …

Johannesburg, South Africa | AFP | The name of Eskom, Africa’s largest electricity company, has become synonymous with the worst corruption scandals in South Africa and the utility could well become the final nail in the political coffin of President Jacob Zuma. The sacking of yet another of its short-lived …