Business

The first week of October has not been smooth sailing for the Uganda shilling.  By close of the trading week that ended Oct. 07, the local currency had run down from Shs 3,385/3,395 on Sept.30 to Shs 3,405/3,415 to the US dollar, representing a loss of Shs 20. This is …

Uganda Revenue Authority (URA) Commissioner General Doris Akol has encouraged entrepreneurs and businesses to not only plan for marketing, rent, wages and transport costs, but also taxes, that eventually determine the survival of their enterprise. “Businesses need to start looking at tax as another cost of operation. My advice to …

Surge in prices could cause inflation flare up, squeeze Ugandan economy further – experts Uganda’s consumer price inflation fell more than expected in the past three months to September, thanks to a huge drop in non-food prices during the period, but economists say the downward trend is unlikely to be …

Rwanda’s Minister of Finance and Economic Planning, Claver Gatete, has been named Finance Minister of the Year in the Sub-Saharan category by Global Capital, an international news, opinion, and data service Gatete’s honour was announced on Oct.04 together with winners from Latin America, Central and Eastern Europe, the Caribbean, and …

American to build refinery? Deal could be blow to sanction-strapped Russians Technocrats at the Energy Ministry and the Ministry of Finance who are working on the country’s pet project, the US$4 billion oil refinery, have learnt to stay cool under pressure. Behind their cool fronts, however, they are working in …

Nairobi, Kenya | AFP |  Kenya Airways, already facing financial difficulties and a threatened pilots’ strike, cancelled five flights on Sunday after outsourced cabin crew walked off the job. While the stoppage only involved a small number of workers, it coincides with a deep malaise at the airline, which in …

VIDEO: Local pepper and chili farmers are being challenged to double their production and tap into alternative overseas markets. Pepper production in Uganda fell drastically after government announced a ban on pepper exports to the European Union. But with emerging bigger markets for Uganda’s pepper outside the European Union, the country …

Benaulim, India | AFP | Chinese President Xi Jinping said Sunday a rising tide of protectionism and anti-globalisation was endangering the world economy’s still fragile recovery as BRICS leaders vowed to forge closer business and trade ties. At a summit in the Indian tourist hub of Goa, host Prime Minister …

VIDEO:  There were sad scenes of tears and despair as fire gutted Jinja’s Napier Market. The fire that happened at around 10pm on Friday, consumed items worth millions, leaving traders in ruins. The traders blame the police fire rescue team for not responding in time. The cause of fire is yet to …

VIDEO: Kampala city traders association KACITA has vowed to take industrial action against street vendors and hawkers. The action due Monday Oct 17 is intended to disperse the operations of vendors. KACITA accuses the vendors of ruining their business with backing from KCCA. The city authority though points to defiant vendors that keep coming …