Tag Archives: economy

Kampala, Uganda | THE INDEPENDENT| These are the top stories in this week’s The Independent. COVER STORY Has Museveni become Uganda’s problem?: Experts reveal sectors suffering because of President. THE LAST WORD Africa’s real intellectual crisis: Why Museveni is not the cause of the problems of Uganda but rather their …

Khartoum, Sudan | AFP | Sudan’s central bank said Wednesday it had received its first overseas fund transfer in US dollars since Washington announced the lifting of a 20-year-old trade embargo against Khartoum. Washington last week announced the lifting of sanctions from this Thursday onwards, saying Khartoum had made progress on …

Washington, United States | AFP | Tackling disparities in education is crucial to reducing global income inequality, the International Monetary Fund said Wednesday, urging governments to spend more on schooling for disadvantaged children. In a report, the IMF said that over the past three decades, 53 percent of countries had become …

Washington, United States | AFP | IMF Managing Director Christine Lagarde urged global leaders Wednesday not to reject international trade as policy shifts by Washington and London force resets on major global commercial treaties. Lagarde admitted that the rapid lowering of trade barriers in recent decades had caused significant dislocation, including …

Nairobi, Kenya | AFP | “Time for an interview? I have a lot of time at the moment,” said Owino Onyango, sweating as he stepped out of his blacksmith’s shop in Nairobi to talk business, and politics. “Business goes with politics: if politics go down, business also goes down”, said the …

Khartoum, Sudan | AFP | Sudan’s national carrier aims to revive its fleet by procuring new components from Boeing and Airbus after Washington lifted its 20-year-old trade embargo on Khartoum, a minister said Sunday. Sudan Airways, one of the oldest airlines in Africa, has 12 of its 14-strong fleet of aircraft …

Khartoum, Sudan | AFP | Up until a few years ago, Sudanese engineer Ahmed Abdallah used to manage his family’s expenses on his $400 monthly salary but he has since had to take out loans to make ends meet. With the US State Department’s announcement Friday of an end to some …

Riyadh, Saudi Arabia | AFP | Saudi Arabia Wednesday announced the consolidation of development funds under a unified body led by Crown Prince Mohammed bin Salman, cementing the powerful prince’s position in the Gulf kingdom’s affairs. The new National Development Fund joins industrial, agricultural and social development funds under a board …

Kampala, Uganda | GODFREY SSALI | The Uganda Development Corporation (UDC), the investment arm of government mandated to promote and facilitate industrial and economic development of the country, has finally got a first Board of Directors since its revival in 2008. The new board which will be chaired by Hamu Mugenyi, …

Mumbai, India | AFP | India’s central bank held interest rates at a seven-year-low on Wednesday as it downgraded growth forecasts for Asia’s third largest economy amid a slowdown following recent high-profile reforms. The Reserve Bank of India (RBI) said the benchmark repo rate — the level at which it lends …