Tag Archives: economy

  Valletta, Malta | Xinhua | Global oil demand is rising following an accelerated vaccination campaign and an economic recovery, pushing oil prices to two-and-a-half-year highs amid an output deficit. Although an agreement for more output reached among the Organization of the Petroleum Exporting Countries (OPEC) and its allies on July …

Washington, U.S. | Xinhua | U.S. President Joe Biden on Monday downplayed inflation fears as lawmakers will vote later this week to begin debate on the bipartisan infrastructure bill. “Our experts believe and the data shows that most of the price increases we’ve seen were expected and are expected to be …

  Johannesburg, South Africa | Xinhua | The looting of shops, burning of trucks, and destruction of property in South Africa following the jailing of former South African President Jacob Zuma could discourage potential investors from investing in the country and worsen food insecurity, experts have warned. “The Minerals Council South …

COMMENT | Moses Mugerwa | It’s no secret that the ride-hailing industry has become a vital part of our daily lives for many people with different needs for getting around. The fourth industrial revolution is rapidly shaping the transportation sector in Uganda as cities become overly crowded with traffic, small businesses, …

Kampala, Uganda | THE INDEPENDENT | The government has released funds for the first quarter of the financial year 2021/22, with focus on the health sector and the fight against Covid-19. The release amounting to 5.673 Trillion Shillings represents 25% of the approved government budget minus external financing, appropriation in aid …

Kampala, Uganda | THE INDEPENDENT | The agriculture sector’s value to the economy has remained largely unchanged and in some areas, increased during the one year of the Covid-19 pandemic. This resilience has given the authorities more incentives to focus on the sector in the development programs like the National Development …

Moscow, Russia | Xinhua | Russia continues to develop no matter what sanctions Western countries impose and what threats they make, President Vladimir Putin said Wednesday. “Russia’s economic sovereignty is increasing and its defense capabilities have reached a very high level,” Putin said during his annual televised “Direct Line” Q&A session. …

Kampala, Uganda | THE INDEPENDENT | The East African Community-EAC Council of Ministers has tabled the budget estimates for the 2021/2022 financial year totaling US$91,784,296. The budget theme: Economic Recovery through Industrialization and Inclusive Growth, aims to focus on the policymakers, implementers and legislators at a time the COVID-19 pandemic had …

Can Mutebile’s latest announcement and government spending plan save the economy hurt by coronavirus lockdowns? | JULIUS BUSINGE | On June 16, Bank of Uganda Governor, Emmanuel T. Mutebile made a big announcement that many pundits believed would boost economic recovery. For the first time in many months, Mutebile cut …

Kampala, Uganda | THE INDEPENDENT | The second wave of the COVID-19 pandemic in Uganda has led to record infections and an increasing number of deaths compared to the previous one, which calls for adjustments in the approach to containing it. The government’s response with new restrictions on movement and gatherings …