Tag Archives: economy

Kampala, Uganda | THE INDEPENDENT | Pan-African lender, United Bank for Africa joined countries on the African continent to celebrate the African Day. Formally the African Freedom Day and African Liberation Day, Africa Day, is commemorated on May.25 annually as a foundation for the formation of the Organisation of African Unity …

London, United Kingdom | AFP | Further easing of countries’ coronavirus lockdowns pushed equities higher Tuesday, with optimism stoked by the reopening of bars, cafes, pools and beaches outweighing China-US tensions that hurt the dollar. While countries including Brazil, Chile and Russia are enduring rising death and infection tolls from COVID-19, …

Beijing, China | AFP | China warned Friday that its huge economy will suffer an immense hit from the coronavirus, as the ongoing pandemic and national lockdowns cause massive global job losses and Russia faces a steep increase in deaths. As Beijing’s communist rulers failed to set an annual growth target …

Kampala, Uganda | Isaac Khisa | Coronavirus pandemic currently ravaging the entire world presents an opportunity to reset the African continent so that the African population can be empowered to become more productive and self-reliant, according to the United Bank for Africa Plc. Chairman and Founder, Tony Elumelu. Elumelu, who spoke …

Washington, United States | AFP | The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday. The world’s top economy was strong before the COVID-19 outbreak hit, like a natural …

Khartoum, Sudan | AFP | Inflation in Sudan jumped to 99 percent because of rising food prices, official figures showed Saturday, more than a year after the country was rocked by protests sparked by bread price hikes. The inflation rate in April shot up from 82 percent the previous month due to increased prices of …

Washington, United States | AFP | Two top US economic advisers on Sunday defended the need for an expeditious reopening of the economy even as the coronavirus reached into the White House despite the extraordinary precautions taken there. The comments by Treasury Secretary Steven Mnuchin and economic adviser Larry Kudlow came …

Kampala, Uganda | THE INDEPENDENT | The Archbishop of the Church of Uganda the Most Rev. Dr. Stephen Kaziimba Mugalu has appealed to government to consider plans of stimulating the economy as well as support affected businesses and livelihoods in the face of the coronavirus (COVID-19) pandemic. According to the …

Kampala, Uganda | THE INDEPENDENT | Economists have cautioned the government against taking loans to stimulate the economy in the course of COVID-19 lockdown. They say that relying on loans is a bad idea that could leave Uganda in more trouble. The caution comes amid a scramble by African countries …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has issued a firm assurance to Ugandans that the economy and therefore their businesses will not be hit by the coronavirus pandemic. Evidently staying clear of the issue of stimulus to business, Museveni said while he understood businesses in tourism and …