But risks to inflation including future direction of food crop prices, exchange rate prevail Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy is projected to grow faster this year subject to a number of fundamentals. These include; continued investment in public infrastructure which will in turn have positive spillovers on …
Read More »Mozambique says working with US over ex-minister arrest
Maputo, Mozambique | AFP | Mozambique said Monday it was working with US and South African authorities after its former finance minister was arrested in Johannesburg over $2 billion in alleged secret loans to Mozambican state companies. Manuel Chang, 63, was arrested on December 29 and will appear in a …
Read More »Trade war ‘certainly’ hurting China economy: US official
Washington, United States | AFP | China’s economy is more vulnerable to the fallout in the current trade stand-off with Washington and already has been hurt by the dispute, US Commerce Secretary Wilbur Ross said Monday. Ross’s remarks emphasized President Donald Trump’s confidence that the robust US economy means Washington …
Read More »World Cup host Qatar to introduce 100 percent booze tax
Doha, Qatar | AFP | World Cup 2022 host Qatar is to introduce a 100 percent tax on alcohol from January 1, a government official confirmed on Monday. The “sin” tax is being introduced just weeks after the conservative Muslim Gulf state announced in its annual budget statement that it …
Read More »S.Africa arrests Mozambique’s ex-finance minister for extradition to US
Johannesburg, South Africa | AFP | A former finance minister of Mozambique, who approved secret loans that plunged the country into a crisis, has been arrested in South Africa awaiting extradition to the United States, police said Monday. Manuel Chang, 63, was “arrested on Saturday for… USA extradition”, national police …
Read More »Libya’s ‘green gold’ olive industry hit by export ban
Tarhuna, Libya | AFP | Stretching as far as the eye can see, groves of gnarled olive trees in northwest Libya have proudly withstood the country’s devastating conflicts. But the industry of extracting olive oil, often dubbed “green gold”, is now under threat after Libyan authorities halted exports in a …
Read More »Trump blasts US central bank again over rate hikes
Washington, United States | AFP | US President Donald Trump on Tuesday renewed his attack on the US Federal Reserve’s monetary policy, blaming the central bank’s interest rate hikes for a tanking market. With stocks on track for their worst December since the Great Depression, Trump has regularly berated the …
Read More »Economy expands in 2018
Economists still question its impact on people’s pockets Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy expanded faster than expected in the past 10 months compared with the previous year supported by accommodative monetary policy, rebound in private sector credit and continuous investment in infrastructure. Data from Bank of Uganda, Ministry …
Read More »Macron calls for order after ‘yellow vest’ attack on police
Paris, France | AFP | French President Emmanuel Macron called for “order” on Sunday after a sixth weekend of “yellow vest” anti-government protests marked by dwindling participation and a violent attack on police in Paris. Speaking during a visit to the central African state of Chad where he was visiting …
Read More »Zimbabwe’s economic crisis wipes out Christmas cheer
Chinamhora, Zimbabwe | AFP | At Solomon Chakauya’s grocery store in Zimbabwe’s Chinamhora district outside Harare, there’s no sign of the seasonal Christmas rush that he needs to keep his business afloat. Even in the country’s toughest times, sales rocketed in the days before Christmas, but this year few people …
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