Thursday , November 14 2024

Business

Business news

Foundation stone for 1,445km oil pipeline laid in Hoima

  Hoima, Uganda | THE INDEPENDENT | President Yoweri Museveni and Tanzania foreign minister Dr. Augustine Mahiga have laid a foundation stone at the start point of the 1,445km-long East Africa Crude Oil Pipeline (EACOP) in Hoima, Uganda. Saturday’s function marked the climax of the visit by Tanzania’s president John Magufuli, who …

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First pineapple farm opens in Gaza

Khan Yunis, Palestinian Territories | AFP |  Pineapples are being harvested in the Gaza Strip for the first time as part of efforts to help the impoverished Palestinian territory work towards food self-sufficiency. The fruit, for domestic sale, is grown in a 1,000 square metre greenhouse in the southern Gaza …

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Uber loses employment rights case in Britain

London, United Kingdom | AFP | US ride-hailing company Uber on Friday lost its appeal against a landmark court ruling in Britain that would give drivers the right to paid holidays and the national minimum wage. The London employment tribunal upheld an October 2016 judgment in a case that is …

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Emirates airline profit rebounds on cost savings

Dubai, United Arab Emirates | AFP | Leading Middle East airline Emirates said Thursday its half year net profit rebounded strongly from a slump last year due to cost saving measures and favourable exchange rates. The Dubai flag carrier said it posted a net profit of $452 million in the period …

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Museveni and Magufuli launch Mutukula One Stop Border Post

Mutukula, Uganda | THE INDEPENDENT | President Yoweri Museveni of Uganda and John Pombe Magufuli of Tanzania have today inaugurated the Mutukula One Stop Border Post and also laid the cross-border marker for the construction of the East Africa Crude Oil Pipeline (EACOP). The One Stop Border Posts (OSBP) launched …

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Adidas leaps to higher profits on strong own-brand sales

Frankfurt am Main, Germany | AFP | German sports gear group Adidas on Thursday reported a jump in third-quarter profits, lifted by strong demand for its own-brand trainers and apparel in China and North America. The Bavarian company, which sponsors English Premier League giants Manchester United, said net profit soared to …

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China signs $37 billion deal to buy 300 Boeing planes

Beijing, China | AFP | China signed an agreement Thursday to buy 300 airplanes from US aerospace giant Boeing valued over $37 billion, as part of a multi-billion dollar raft of deals announced during President Donald Trump’s visit to Beijing. The agreement for China Aviation Suppliers Holding Co (CASC) to buy …

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