Kampala, Uganda | THE INDEPENDENT | The Ugandan banking sector registered a growth of 8.4 percent in assets over the last financial year leveraging the high inflation that saw private sector borrowing slow down. The resilience of the sector also came amidst weak economic growth prospects and elevated geopolitical tensions …
Read More »Stanbic’s PMI: September sees an increase in employment
Kampala, Uganda | THE INDEPENDENT | During September, Uganda’s private sector saw an increase in employment and purchasing activity as demand conditions remained favorable, resulting from the continued growth of new orders and enhanced business activity. The monthly headline Stanbic Purchasing Managers Index (PMI) rose to 52.9 in September, up from …
Read More »Chinese economy naysayers to be disappointed yet again: economic planner
Beijing, China | Xinhua | China’s top economic planner on Wednesday said that positive factors concerning China’s economy are accumulating and that China naysayers will be disappointed yet again. As existing and incremental policies take synergistic effect, China’s economy will rebound and sustain a long-term upward momentum, Cong Liang, deputy …
Read More »The global economy’s real enemy
Why geopolitics and not protectionism should be the worry for the future health of the world economy COMMENT | DANI RODRIK | “The era of free trade seems to be over. How will the world economy fare under protectionism?” This is one of the most common questions I hear nowadays. But …
Read More »Human success in the AI age
Why those who optimally mix what AIs and humans each can do best will be champions in the new economy COMMENT | JAMIE METZL | Everywhere we look nowadays, we find warnings that artificial-intelligence algorithms are coming for our jobs. While Goldman Sachs estimates that two-thirds of all current jobs in …
Read More »Uganda’s economy shows mixed trends
Companies remain optimistic about future output growth Kampala, Uganda | JULIUS BUSINGE | The monthly Stanbic Purchasing Managers’ Index (PMI) for Uganda dipped slightly in August, falling from 53.9 in July to 51.6, as businesses grappled with the implications of the World Bank’s suspension of further loans to the country. However, …
Read More »G20 urged to focus on economic governance, development issues
New Delhi, India | Xinhua | The Group of 20 (G20) should refocus on improving global economic governance and tackling development issues to boost confidence in the world’s economic recovery, said experts, as the G20 summit kicks off in New Delhi on Saturday. The experts said that leaders of the world’s …
Read More »German GDP to shrink 0.5 pct in 2023
Berlin, Germany | Xinhua | The real gross domestic product (GDP) of Germany, Europe’s largest economy, is projected to shrink by up to 0.5 percent in 2023, the German Economic Institute (IW) said on Tuesday. The drop is driven by high inflation and interest rates as well as by problems …
Read More »Stanbic Bank reports 23.5% rise in H1 profit
This comes as the economy continues to recover from the consequences of the Covid 19 pandemic, the Russia-Ukraine war, and the tightening of global financing conditions Kampala, Uganda | THE INDEPENDENT | Uganda’s biggest bank, Stanbic Bank, has reported a 23.5% rise in the first-half profit after tax to Shs 200bn …
Read More »Egypt’s president vows to bolster industrial production amid economic woes
Cairo, Egypt | Xinhua | Egyptian President Abdel-Fattah al-Sisi said on Saturday that the government is formulating a plan to enhance domestic industrial production and reduce imports, with the goal of addressing the ongoing economic challenges in the nation. Sisi, also Egypt’s top military leader, made these remarks during his inspection …
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