Business

By Agencies It may happen but it’s not something we’re terribly focused on-BP boss Tullow Oil’s shares have jumped 3% last week on the back of rumors that BP was planning on submitting a bid for the Irish independent. According to rumors, BP is planning to offer Tullow £15 per …

By Agencies Ghana’s total revenue from the oil and gas find will represent less than five per cent of the country’s Gross Domestic Product (GDP), according to the Energy Minister, Dr Joe Oteng-Adjei. With the country’s current GDP at well over $18 billion, Dr Oteng-Adjei said the total revenue to …

By Agencies Uganda’s oil production target could more than double to 350,000 b/d by 2018 from the current target of 150,000 b/d in 2013 if the right business plan is adopted, according to Tullow Oil PLC. “When the oil basin is in full production, we are probably talking about 350,000 …

By Patrick Kagenda Kuwaiti-based Zain, which was last year a headlines maker after its July announcement that it was looking at its options in Africa including a possible sale of its networks, is back in the news. This time newswires report that it is in talks with Bharti Airtel the …

By Sue Shellenbarger It is good for you and the business Like many workers, Ivelisse Rivera, a physician at Community Health Center, Middletown, Conn., feels stressed-out by mounting workloads. And she didn’t expect to get much help during her employer’s annual staff meeting last November””just the usual speeches on medical …

By Patrick Kagenda The Uganda Securities Exchange last week launched the Securities Central Depository System (SCD) that will pave the way to electronic trading. The software to run the system that will link the USE to the Dar es Salaam Stock Exchange and the Nairobi Stock Exchange was provided by …

By Patrick Kagenda No official numbers yet but word on the street is that National Insurance Corporation’s Shs 7 billion Initiation Public Offer (IPO) was over-subscribed. “This IPO went very well under the circumstances of a small amount of shares issued. When you have an issue this small worth only …

By Joseph Were and agencies On which side will BoU intervene, if at all? The weakening of currencies in the East African region against the U.S. dollar experienced in the last two weeks is likely to persist, according to analysts. Dollar demand by offshore investors and the corporate sector to …

By Patrick Kagenda When Kenyan Vice president Kalonzo Musyoka visited Kampala last month, the Rift Valley Railways-run Nalukolongo locomotive workshop was part of his itinerary. News has since emerged that the RVR had paid the governments of Kenya and Uganda $2 million and $1 million respectively in the long awaited …

By Independent Team and Agencies No way. Toyota recall unlikely to stop growth of the 19bn Euro empire Toyota, the world’s largest automaker, has recalled more than 8 million vehicles around the world for problems with accelerators. Episodes of unintended acceleration in Toyota vehicles have been linked to up to …