Tag Archives: economy

Johannesburg, SOUTH AFRICA | AFP | South African President Cyril Ramaphosa, who came to power last month, vowed on Wednesday to “escalate the pace” of redistributing land from wealthy whites to poorer blacks. Land ownership is a sensitive subject in South Africa, 24 years after the end of apartheid rule, and …

Kinshasa, DR Congo | AFP | DR Congo President Joseph Kabila enacted a law to hike taxes on so-called strategic metals and ordered government consultations with foreign companies worried by the change, an official said Sunday. “The law has been promulgated in the same form as was adopted by parliament,” …

Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank’s Purchase Managers Index (PMI) posted 51.1% growth in February down from 52% in the previous year, signaling a moderate improvement in business conditions in the private sector. Commenting on February’s survey finding, Jibran Qureshi, Regional Economist East Africa at Stanbic said, “business conditions …

Harare, Zimbabwe | AFP | Russia’s Foreign Minister Sergei Lavrov on Thursday met with Zimbabwe’s new President Emmerson Mnangagwa and discussed possible military co-operation as well as plans to boost economic ties. Lavrov, who is on a tour of Africa, is the first high-profile Russian official to visit Zimbabwe since veteran …

Kinshasa, DR Congo | AFP | DR Congo President Joseph Kabila has promised to have “constructive dialogue” with mining companies worried over plans to hike taxes on so-called strategic metals, a category expected to include the booming market for cobalt and copper. Kabila on Tuesday held more than seven hours of …

Washington, United States | AFP | US President Donald Trump vowed Monday not to exempt Mexico and Canada from new steel tariffs without a “fair” trade deal, but his chief negotiator warned the trio’s talks were not living up to expectations. Speaking as US, Mexican and Canadian trade officials gathered …

Paris, France | AFP | The EU will soon unveil a plan for taxing major internet companies like Amazon and Facebook by imposing a levy of two to six percent on revenues in every country where they operate, French finance minister Bruno Le Maire said Sunday. “The range will be …

Finance under attack over Shs.750 bn fresh borrowing, faces tough IMF Kampala, Uganda | HAGGAI MATSIKO | Matia Kasaija and his team at the Finance Ministry find themselves in a very tight corner as they look for Shs29.2 trillion to finance a new budget. Previously, finding cash did not present …

Paris, France | AFP | By opting to place heavy tariffs on imports of steel and aluminium, US President Donald Trump is on the surface hoping to protect jobs at home. Yet his policy threatens not only to frustrate trade partners but also cost US workers dear, many analysts as …

Hong Kong, China | AFP | Steel and aluminium producers across Asia sank Friday on news of Donald Trump’s controversial tariffs, though some analysts said the long-term effects on the sector might not be as bad as thought. The president said Thursday he would slap levies of 25 percent on …