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Leading S.African retailer Pick n Pay sheds 3,500 jobs

Johannesburg, South Africa | AFP | One of South Africa’s largest retailers Pick n Pay on Monday said it had cut around 3,500 jobs — 10 percent of its workforce — in a bid to curb costs in an economy battling a recession. “The voluntary severance programme is one of several …

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Serbian State Secretary Nemanja Steavnovic in Uganda

Kampala, Uganda| THE INDEPENDENT | The Minister of Foreign Affairs Sam Kuteesa on Tuesday August 1, 2017 met the visiting Serbian State Secretary Nemanja Steavnovic at the Ministry of Foreign Affairs headquarters in Kampala. The purpose of his visit is to deliver a message to President Yoweri Museveni from the new …

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BUSINESS: Future of banking

If it looks so gloomy, why is everyone seeing it as bright? KAMPALA, UGANDA | JULIUS BUSINGE | The banking industry in Uganda appears to be facing an uncertain future. Most banks are recording a mixture of good and bad performance, sluggish growth in private sector credit, rising non- performing …

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Cement glut looms

Surplus expected to eat into the producer’s profitability KAMPALA, UGANDA|ISAAC KHISA| The cement industry in Uganda could be headed for tough times as firms increase production capacity next year beyond the available demand. Lafarge Group’s Hima Cement is setting up a new plant in Tororo, eastern Uganda, with capacity of …

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Ronaldo denies tax fraud at court hearing

Madrid, Spain | AFP |  Real Madrid forward Cristiano Ronaldo denied hiding millions of euros in income at a court hearing near the Spanish capital on Monday where he was charged with tax evasion. The Portuguese — the world’s highest paid sportsman according to Forbes magazine — is the latest …

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Technological innovations boost NSSF contributions

The National Social Security Fund’s move to shut down its old e-collection system and adopt a more advanced tech savvy portal last year coupled with increase in compliance has boosted its capability to collect more employee contributions, according to its Managing Director, Richard Byarugaba. KAMPALA, UGANDA |ISAAC KHISA|  Byarugaba, who …

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Shell shuts down Europe’s largest refinery after fir

  The Hague, Netherlands | AFP |  The British-Dutch oil giant Shell said it was temporarily shutting down Europe’s biggest refinery after a pre-dawn fire broke out at a power station on the vast site on Sunday. Flames billowed into the sky over the port of Rotterdam after the blaze …

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