Business

Paris, France | AFP | Saudi Arabia’s global investment reach is impressive, stretching from stakes in Twitter and Uber to AccorHotels and Virgin Galactic — but the Khashoggi affair has thrown a harsh spotlight on its economic footprint. The following is a synopsis of the Kingdom’s investment portfolio. A 2017 …

London, United Kingdom | AFP |  British bank Barclays on Wednesday reported a 72-percent surge in quarterly net profits as strong performances by its retail and credit card divisions offset weakness at its investment unit. Profit after tax jumped to £1.0 billion ($1.3 billion, 1.1 billion euros) in the three …

Kampala, Uganda | THE INDEPENDENT | Bucket list travelers seeking to combine a Kenyan safari with gorilla trekking, a boat safari on the Nile, and other uniquely Ugandan experiences will be able to do so easier than ever with new interline air service launching next year. Starting June 1, 2019, …

Tororo, Uganda | THE INDEPENDENT | President Yoweri Museveni has this afternoon commissioned the first phase of the China-Uganda Free Zone at Sukulu, a $620 million investment, in Tororo, Uganda. The investment, by Chinese company Guangzhou Dongsong Energy Group Uganda Limited, will have a fertilizer plant, steel mill and supporting power …

Bwindi, Uganda | THE INDEPENDENT | Three gorilla groups recently completed Uganda’s gorilla habituation program, bringing the total number of groups available for trekking to 19 and the total number of daily gorilla trekking permits available to 152. The addition of these groups, reports visituganda.news, helps meet increased demand for gorilla …

It’s a great coup for Sipa, say partners as deal dominates meeting of experts from 40 countries Kampala, Uganda | RONALD MUSOKE | The British metal and mining corporation, Rio Tinto, has signaled an interest in Uganda in a move that is being seen as a return of confidence. The news …

Kampala, Uganda | RONALD MUSOKE | Over the last few years, Uganda’s cement industry has drastically changed. Hima and Tororo Cement factories have undergone major upgrades while at the same time; there has been entry of new players – Simba and Kampala Cement. The Independent’s Ronald Musoke spoke to Hima Cement’s …

Kampala, Uganda | JULIUS BUSINGE | Online shop, Jumia Uganda has announced Ron Kawamara as new chief executive officer. Ron has previously served as the regional managing director of Jumia Food, East Africa, and brings his wealth of experience in the African e-commerce industry, officials announced at a press conference at …

Government hopes new dams will drive tariffs downwards Kampala, Uganda | JULIUS BUSINGE | Electricity consumers grappling with surging energy bills have at least got some relief as the industry regulator reduces tariffs for the next three months. But they are not overall better off, compared with four years ago. The …

Kampala, Uganda | THE INDEPENDENT | Kenyans will pay more for paints, resins and shoe polish on increased cost of kerosene, putting pressure on housing and furniture costs. The country’s Business Daily reported on Oct. 11 that the imposition of 8% value added tax (VAT) and Sh18 adulteration fee per litre …