Business

Shanghai, China | AFP | Two of China’s top steelmakers announced plans Tuesday to merge,creating the world’s second-largest manufacturer of the commodity as markets struggle with a glut caused by Chinese overcapacity. The world’s second largest economy is trying to overhaul its lumbering state sector and especially its steel industry, …

VIDEO: In the Hustling for Survival show, Richard Olwenyi tells the story of a man who has made a living from fresh cow hooves which is later prepared as cow hoof stew locally referred to as Kigere or Molokonyi. Fred Bukenya, owes what he has achieved to the trade.   Share on: …

Beijing, China | AFP |  A key gauge of China’s debt has reached its highest level on record, setting off alarm bells of imminent risk to the banking system, a Swiss banking watchdog reported. China’s credit-to-GDP gap reached 30.1 percent in the first quarter of 2016, its highest level ever …

Businessman and author Andrew Rugasira has promised major reforms as he announced his intention to stand for president of what he has described as an ineffective Uganda National Chamber of Commerce and Industry (UNCCI). “The chamber is a far cry from its original mandate. It is institutionally ineffective, and it has …

The Uganda Bankers Association has appointed Wilbrod Humphreys Owor as it new executive director. He takes over from Emmanuel Kikoni who has steered the association over the last 16 years. Owor, formerly the managing director of United Bank of Africa-Uganda, comes with 25 years of working experience spanning across key …

Singapore, Singapore | AFP |  Oil prices fell in Asia Friday as the prospects of higher output from Libya and Nigeria further fuelled oversupply concerns, cutting short a nascent rebound. Both contracts rose Thursday on news that 6,000 barrels of gasoline had leaked from the Colonial pipeline that carries fuel …

The middle income outlook will depend on what Uganda will do to wake up the population to be productive and be consistent at it. The target for middle income is 2020 but right now 68% of our population comprises peasants. We are hoping each one of them will be having $1,050 as …

Geneva, Switzerland | AFP |  European oil companies, especially Swiss commodity traders, are exploiting weak African fuel standards by selling toxic diesel and gasoline across the continent, a campaign group said Thursday. A three-year investigation published by Switzerland-based environmental and economic group Public Eye did not accuse oil companies of …

Rwandan President Paul Kagame and his Ugandan counterpart President Yoweri Museveni on Sept.05 launched the inaugural Global African Investment Summit in Kigali, Rwanda.   Dubbed the Global African Investment Summit COMESA & Government of Rwanda (TGAIS-Rwanda), the meeting brought together African leaders, heads of State, senior policymakers and influential business leaders …

Impala Housing Estate in Namungoona, Kampala, which adds 133 housing units and 192 apartments to the country’s housing sector, has been launched. Set up by the National Housing and Construction Corporation (NHCC), this is the 4th phase in the Namungoona area and is an addition to the existing 200 units …