Tag Archives: economy

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has started losing its strength against the US Dollar in a reverse trend that had seen the local currency remain strong during and after the lockdown period. In a trend that surprised observers, the shilling held steady when diaspora remittances, offshore …

Kampala, Uganda | THE INDEPENDENT | The East Africa Community (EAC) secretariat and its partner states have unveiled a new mobile application to enable the issuance of the EAC COVID-19 digital certificates that are mutually recognised by the partner states. The app dubbed the Regional Electronic Cargo and Driver Tracking System …

Nairobi, Kenya | XINHUA | The African Union (AU) is planning to put in place a guarantee scheme for micro, small and medium-sized enterprises (MSME) to speed up the continent’s economic transformation, an official said on Wednesday. Amine Idriss Adoume, director in charge of delivery program and coordination at the …

Nairobi, Kenya | XINHUA | The Inter-African Coffee Organization (IACO) said on Wednesday it has jointly launched a 14.3 million U.S. dollar intervention program to alleviate the impact of COVID-19 on the continent’s coffee sector. IACO said it has teamed up with the International Coffee Organization (ICO) and the Center …

Tokyo, Japan | XINHUA | Japanese Prime Minister Shinzo Abe on Friday announced his resignation over health issues, catching the country by surprise and sending two major stock indexes tumbling in Tokyo. Japan’s economy is already in deep recession amid the COVID-19 pandemic, and the sudden resignation of the prime …

Phnom Penh, Cambodia | XINHUA | Protectionism and unilateralism from the U.S. are sowing a “selfish” idea among other countries and go against the current of multilateralism and globalization, Kin Phea, director general of the International Relations Institute of Cambodia, has told Xinhua. Speaking at a roundtable discussion under the …

United Nations | XINHUA | A United Nations report launched Wednesday said that digital finance has become a lifeline during the crisis caused by the COVID-19 pandemic. “The unprecedented social and economic crisis caused by the COVID-19 pandemic has put a spotlight on the role of digital finance in providing …

Washington, US | XINHUA | Speakers at the 2020 Republican National Convention (RNC) on Tuesday night touted U.S. President Donald Trump’s pre-pandemic economic accomplishments, warning that key policies such as tax cuts could be reversed if a Democratic president is elected in November. Tax cuts, deregulation, “fair” trade deals and …

United Nations | XINHUA | UN Secretary-General Antonio Guterres on Tuesday called for the recovery of tourism from COVID-19 in a sustainable way. “It is imperative that we rebuild the tourism sector. But it must be in a way that is safe, equitable and climate friendly,” said Guterres in a …

New York, US | XINHUA | U.S. stocks eked out modest gains in the past week as Wall Street digested the Federal Reserve’s meeting minutes and a slew of economic data. For the week ending Friday, the Dow was roughly unchanged, the S&P 500 rose 0.7 percent, and the Nasdaq …