Business

Surprises in 2018 budget:mFinance Ministry makes right moves, but timing could be wrong Kampala, Uganda | JULIUS BUSINGE | For years now, Uganda’s budget making process has been dominated by debates about four contentious issues; the government’s huge investment in infrastructure, domestic resource mobilisation, the size and rate of external …

Beijing, China | AFP | For years China was the world’s top destination for recyclable trash, but a ban on certain imports has left nations scrambling to find new dumping grounds for growing piles of garbage. The decision was announced in July and came into force on January 1, giving companies …

Kampala, Uganda | THE INDEPENDENT | Buoyed by rising stock markets and commodity prices, Africa’s billionaires are collectively wealthier than a year ago. The 23 billionaires that Forbes found in Africa – up from 21 billionaires last year — are worth a combined $75.4 billion, compared to $70 billion in January …

Kampala, Uganda | THE INDEPENDENT | African airlines experienced a 7.9% rise in demand compared to November 2016, according to the International Air Transport Association’s (IATA) latest analysis. Data supplied by airlines around the world last November indicates that volumes started to trend upwards strongly again in seasonally-adjusted terms in recent …

Kampala, Uganda | THE INDEPENDENT | Begging is illegal in Dubai, but just so we’re clear, these are not your average beggars. They are professional or smart beggars who target people who “look rich” with a well-rehearsed heart-wrenching story, often involving their families who are either sleeping on the streets or …

San Francisco, United States | AFP | Facebook announced Friday it will ask its two billion users to rank their trust in news sources, in its latest attempt to combat the spread of misinformation on the social network. The change comes as the online giant seeks to address charges that …

Nairobi, Kenya | AFP |  President John Magufuli on Friday suspended the registration of foreign vessels in Tanzania, following the seizure of drugs aboard ships flying his country’s flag. He also ordered an investigation into the 470 vessels currently registered as Tanzanian to determine their activities and whether they are …

Paris, France | AFP | The United States are set to overtake Saudi Arabia as the world’s number two oil producer after Russia this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday. “This year promises to be a record-setting one …

Washington, United States | AFP | South Africa’s central bank chief Lesetja Kganyago will take over as chair of the International Monetary Fund’s policy advisory committee, the IMF announced Thursday. Kganyago, who has served as governor of the South African Reserve Bank since late 2014, takes on a three-year post …

Isimba dam gets new engineers Kampala, Uganda | JULIUS BUSINGE | The Uganda Electricity Generation Company Limited (UEGCL) has announced a new Owner’s Engineer (OE) for the 183MW hydropower dam located in Kayunga district. The new OE, which is taking over from Energy Infratech PvT Limited (EIPL), is Artelia EAU …