Business

New York, United States | AFP |  US and European markets moved higher on Wednesday as oil producing countries reached a surprise deal to cut oil production, causing crude prices to jump more than five percent. Following the agreement reached in Algiers by members of the Organization of the Petroleum …

Carhaix-Plouguer, France | AFP |  China’s third largest baby formula producer on Wednesday opened a vast plant in France’s Brittany region, whose prized dairy cows are set to contribute 100,000 tons of powdered milk a year to a growing Chinese market that mistrusts domestic production. Synutra’s 170 million euro ($190 …

Chicago, United States | AFP | The head of the IMF on Wednesday renewed warnings against protectionism and trade restrictions, saying that the global economy risked prolonged low growth and that advanced economies faced painful inequality. Christine Lagarde, the International Monetary Fund’s managing director, said the current global recovery was …

Brussels, Belgium | AFP | Shareholders of brewing giants Anheuser-Busch InBev and rival SABMiller will vote on Wednesday on a blockbuster merger that would create the biggest beer company in the world. Belgium-based AB InBev, the brewer of Budweiser and Stella Artois, is already the world’s top brewer and the …

Dakar, Senegal | AFP | When farmer Isaac Tondo fell on lean times in Liberia’s long rainy season, his brother in the capital sent 8,000 Liberian dollars (US$87) to his Lonestar mobile money account, ensuring his children’s school fees would still be paid. Across Africa more and more people — …

  Washington, United States | AFP |  The International Monetary Fund warned Tuesday that central banks are struggling to beat back deflationary forces and that governments need to spend to help them succeed. In a new assessment of global economic conditions, the IMF said many countries worldwide are battling disinflation …

Andrew Rugasira`s name is synonymous with the Good African Coffee brand and for being the first indigenous Ugandan to add value to the country’s coffee and have it available on the European supermarket shelves. He has talked and smelled nothing but coffee in the last two decades. But on Sept. …

Joram Nyanzi is the general manager of Rift Valley Railways (RVR), the company that concessioned the assets of the former Uganda Railways Corporation. He spoke to Flavia Nassaka about their operations and other pertinent issues in the transport industry. What are the key elements in your management philosophy as a …

Despite what he called a tough investment environment, Uganda’s National Social Security Fund (NSSF) has grown by 18% in the past year, Managing Director Richard Byarugaba said in Kampala today. “The Fund is worth sh6.58 trillion, an 18% growth from 5.55 trillion the previous financial year. Realized revenue went up …

Unlike most past World Bank country managers for Uganda, the current boss, Christina Malmberg Calvo, is relatively media wary. She, instead, prefers to work quietly behind the scenes to execute her two key result areas; leading discussions between the Bank and the Uganda government, and overseeing projects involving the World …