Tag Archives: economy

  A huge chunk of 2022/23 Shs48.1tn budget will go to the usual sectors of works and transport, security, health and education NEWS ANALYSIS | ISAAC KHISA | Uganda’s national budget, read on June.14, has drawn mixed reactions from various players, with manufacturers partly welcoming it but the civil society …

Juba, South Sudan | Xinhua | South Sudan’s government said Friday it has ratified two protocols of the East African bloc, the Inter-Governmental Authority on Development (IGAD) on free movement of persons and transhumance in the member states. Mayiik Ayii Deng, Minister of Foreign Affairs and International Cooperation said the two …

Washington, U.S. | Xinhua | As U.S. inflation reached a 40-year high in May, President Joe Biden’s administration is facing “only bad options,” U.S. magazine Newsweek has reported. Over the last few months, the White House has been “badgered with questions about how the president will provide relief to Americans struggling …

Why it’s the wrong recipe for curbing inflation COMMENT | STEPHEN ONYEIWU | The Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately. Whenever the Central Bank changes the monetary policy rate, otherwise known …

Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality Washington, U.S. | Xinhua | The global economy is on track to grow by 2.9 percent in 2022, down 1.2 percentage points from the January projection, the World Bank Group said in its latest Global …

Kampala, Uganda | THE INDEPENDENT | Uganda has surpassed the middle-income status threshold and is only awaiting a declaration, according to President Yoweri Museveni. In his State of the Nation Address on Tuesday, Museveni said that the economy has now grown to US$ 45.7 billion, which is slightly above the population …

Moscow, Russia | Xinhua | Russian President Vladimir Putin said Monday that the 2020s would be a time for his country to strengthen its economic sovereignty. Russia will speed up the development of infrastructure and key technology and establish an independent and efficient financial system, Putin said in a message to …

Rome, Italy | Xinhua | The decision by the European Union (EU) earlier this week to ban 90 percent of oil imports from Russia by the end of the year is aimed at crimping the Russian economy amid the high-profile crisis in Ukraine. But the move, part of a wider array …

Kampala, Uganda | Julius Businge | Kansai Paint Co., Ltd. (“Kansai Paint”) has entered into an agreement to sell its Africa business to Akzo Nobel N.V. (“AkzoNobel”), a global paints and coatings company, it said on June 2 in a statement. The sale is subject to the regulatory approvals of the …

Kampala, Uganda | THE INDEPENDENT | These are the top stories in this week’s THE INDEPENDENT. COVER STORY Col. Besigye’s protests: Will they ever achieve change? THE LAST WORD Uganda’s Prisoners’ Dilemma: Why public investments and appointments are economically inefficient in multi ethnic societies ANALYSIS America snubs Museveni again: Crackdown on …