Sunday, July 18We Break the News

Tag: BUSINESS NEWS TODAY

Today’s Future markets

Today’s Future markets

AFRICA, Asia, EUROPEAN UNION, USA, WORLD, World Bank
Americas NameTime (EDT)Future DateLastNet ChangeOpenHighLowDM1:IND Dow Jones mini4/16/2021Jun 202134,081.00+158.0033,940.0034,144.0033,880.00ES1:IND S&P 500 mini4/16/2021Jun 20214,176.30+13.804,162.754,183.504,154.25NQ1:IND NASDAQ 100 mini4/16/2021Jun 202114,029.50+15.5014,002.0014,059.5013,952.75IS1:IND Mexican IPC4/16/2021Jun 202148,564.00+189.0048,495.0048,830.0048,255.00SCT1:IND S&P/TSX Composite4/16/2021Jun 202119,280.00+30.00------PT1:IND S&P/TSX 604/16/2021Jun 20211,148.40+1.201,146.001,149.901,144.40BZ1:IND Ibovespa4/16/2021Jun 2021121,630.00+562.00121,205.00121,855.00120,620.00LB1:IND IBrX-504/16/2021Jun 202120,358.00+52.0020,335.0020,335.0020,325.00 Europe, Middle East & Africa NameTime (EDT)Future DateLastNet ChangeOpenHighLowVG1:IND Euro STOXX 504/16/2...

BUSINESS: MTN Uganda ordered to pay UGX. 44.2b over flouting mobile money taxes.

Business, UGANDA
KAMPALA – MTN Uganda has been ordered to pay the Uganda Revenue Authority (URA) UGX. 44.2 billion in two separate court cases that could forever define how telecoms pay their taxes. In one case, MTN will pay UGX. 24.2 billion, on the dispute on taxing airtime and pay UGX. 20 billion, in another where the dispute involves taxing inputs for telecom services and mobile money. The Tax Appeals Tribunal (TAT) ruled on May 28, 2020, in the first case involving MTN Uganda against URA on how taxes applying to airtime should be assessed. MTN sought to change where the tax on airtime should be charged. Take the case of 10,000 cards, MTN argued it sells airtime at 8,000 Shillings to an agent and that therefore the tax should be applied at that level. URA also argued that tax must be applied ...

BUSINESS: Uganda to export beef to China, income to expand.

AFRICA, Business, UGANDA
KALUNGU – The Minister of Agriculture, Animal Industry and Fisheries (MAAIF), Hon. Vincent Bamulangaki Ssempijja said that soon after Covid-19, government will sign an agreement to start exporting Ugandan beef to China. While addressing cattle farmers at Katonga River-Lwabenge Sub County in Kalungu District on Tuesday, on possible ways to eliminate tsetse flies that have affected their animals, the minister said by the time Covid-19 attacked the World, Uganda and China were due for signing an agreement intended at expanding the Country`s beef market to Asia. “We are going to sign the agreement soon after covid-19. Our biggest challenge now is to ensure a disease free animal sub-sector to improve the quality of our meat.” He added that “MAAIF selected sub-counties from more than 4...

BUSINESS: Uganda Exports the first ever locally made Phones.

AFRICA, Business, UGANDA
Barely a year after President Museveni opened Uganda’s first ICT manufacturing and assembling factory, the country has started harvesting. At its launch it was proclaimed that Ugandans and the rest of Africa would finally be able to buy and own Mobile phones and Computers with the proud Made in Uganda Logo. True to that, SIMI Mobile, the company behind this factory has its SIMI branded, Ugandan made mobile phones already doing well on the local market. In further confirmation of the commitment to promote Ugandan made products both locally and abroad, on Saturday May 23 the first ever international order for Ugandan made mobile phones has been filled and 18,000 phones have been flagged of heading to Morocco. The order includes both smart phones and feature phones. In int...
BUSINESS: The Smartphone Industry is Embracing a Brand-newSmartphone Industry in 2020s

BUSINESS: The Smartphone Industry is Embracing a Brand-newSmartphone Industry in 2020s

Business
HONG KONG, The People's Republic of China, March 10, 2020/ -- Stepping into 2020, an article published on the Associated Press (https://APNews.com) forecasts 5G, more screen forms, more megapixels, foldables, etc. are the technology innovations that most smartphone manufacturers are expected to prioritize in high-tech investment and continually enhance it in order to obtain the leading market position in terms of the creativity of products.According to the article, more megapixels is going to be the key trend in 2020s, as standard of a camera nowadays has been of one of the most important elements and features judging a smartphone. Development of networks and technology has caused very positive impacts on smartphone application software with social APPs springing out in the pas...
BUSINESS: African Energy Chamber terminates Partnership with Africa Oil & Power

BUSINESS: African Energy Chamber terminates Partnership with Africa Oil & Power

Business
JOHANNESBURG, South Africa, March 9, 2020/ -- The African Energy Chamber (www.EnergyChamber.org) announces its termination of its partnership with Africa Oil & Power, which it has had since 2018. Under this partnership, the Chamber has supported Africa Oil & Power in the organization of several highly-successful international events and investment conferences. The termination of the partnership reflects a new strategy for the Chamber to focus on key issues pertaining to the industry and implement its own investment outreach strategies.“We sincerely thank Africa Oil & Power for their hard work until now,” declared Nj Ayuk, Executive Chairman at the African Energy Chamber and author of ‘Billions At Play: The Future of African Energy and Doing Deals’. “Under our partner...
AFRICA: IMF preises Tanzania for ‘Prudent Legal Reforms’.

AFRICA: IMF preises Tanzania for ‘Prudent Legal Reforms’.

AFRICA, Business, TANZANIA
Tanzania has come under rare praise from the International Monetary Fund for what the global lender terms "prudent legal reforms" in its mining sector, land and microfinance. These changes have seen mining's contribution to GDP rise to five per cent, from 4.8 per cent the previous year, while gold and US dollar reserve grew above the country's bench mark--adequate to cover over five months of imports. Annual inflation trended below four per cent for nearly 12 months, a stable exchange rate and an improved tax collection to nearly 96 per cent of the target. Now, the IMF team, led by Enrique Gelbard, is urging the country to carry on the targeted economic reforms but it must clear the business environment of barrier that would otherwise the economic stability the country...
BUSINESS: How two men started a £3.5million pizza company after meeting in their local pub

BUSINESS: How two men started a £3.5million pizza company after meeting in their local pub

Business, WORLD
Two men who met in their local pub are now making millions from the pizza company they named after it. Matteo Ferrari - Teo for short - and Nick Croft-Simon were working part time at the White Rabbit pub in Oxford when they came up with the idea that's set to make £3.5million this year. Teo was just finishing up his studies, working part time in the kitchen, while Nick had recently graduated and was helping out behind the bar. But it wasn't the first time Teo had made pizza - having helped out in his uncle's pizzeria in Milan. “So very quickly, Teo started adding his own flair to the existing pizza menu at the pub, with new flavours and everything he learnt from his heritage at his uncle’s,” Nick said. But along with the new flavours, the pair realised a lot of peop...
BUSINESS: African Producers Decide of Further Cooperation Within APPO on the Sidelines of The Organization of the Petroleum Exporting Countries (OPEC) Meeting.

BUSINESS: African Producers Decide of Further Cooperation Within APPO on the Sidelines of The Organization of the Petroleum Exporting Countries (OPEC) Meeting.

AFRICA, Business
VIENNA, Austria, March 5, 2020/ -- Several African petroleum and energy ministers met in Vienna this week, including OPEC Members Equatorial Guinea, Nigeria, Gabon, Congo-Brazzaville and Angola to join OPEC efforts in stabilizing the market in light of the ongoing coronavirus outbreak. They were joined by additional members of the African Petroleum Producers Organization (APPO), forming part of OPEC+ to support the OPEC Resolution and materialize Africa’s support to the Organization’s actions to stabilize global energy markets.  African petroleum producers also met on the sidelines of the OPEC Meeting to discuss the deepening of the pan-African energy cooperation within APPO. The discussions centered around the conclusion that the APPO headquarters should return to ...
BUSINESS: African capital market activity declines further in 2019

BUSINESS: African capital market activity declines further in 2019

Business
JOHANNESBURG, South Africa, March 5, 2020/ -- Overall, African equity capital market (ECM) activity in 2019 declined sharply both in volume and value from 2018, with 2019 posting the lowest proceeds raised in ten years. The general slowdown in equity markets was largely driven by a series of macroeconomic factors including an ECM deceleration in global markets, caution in the period leading up to key local elections, which took place in both Nigeria and South Africa in 2019, and more specifically in South Africa, growing political gridlock and economic stagnation. These are some of the key findings from PwC’s (www.PwC.com) 2019 African Capital Markets Watch publication issued today, which analyses equity and debt capital market transactions on an annual basis. This report li...
AFRICA: Business Leaders Share Ideas on Solving Africa’s Biggest Social Challenges.

AFRICA: Business Leaders Share Ideas on Solving Africa’s Biggest Social Challenges.

AFRICA, Business
JOHANNESBURG, South Africa, March 5, 2020/ -- Business leaders from across Africa will seek solutions to some of the continent’s most challenging social issues at the Africa Shared Value Leadership Summit (http://www.AfricaSharedValueSummit.com) in Kigali, Rwanda on 4 – 5 June 2020.Download Document: http://bit.ly/32OE1lMThe Summit, which will draw leaders from some of Africa’s biggest companies as well as decision-makers from government and civil society, provides a platform for business to collaborate on social upliftment of the continent, as well as to share insights about the most effective ways for companies to solve social challenges as a core part of their business operations.The decision to hold the 2020 Summit in Rwanda gives delegates an opportunity to learn from ...
WORLD: Do you really know what you’re eating?

WORLD: Do you really know what you’re eating?

Business, HEALTH, WORLD
In 2013, the ‘horse meat scandal’ hit parts of Europe with the revelation that horse meat – and other undeclared ingredients including pork – had been found in mislabelled processed ‘beef’ products. The controversy caused a consumer outcry, and resulted in an increased focus on standards and transparency by food safety authorities across a number of countries, as well as a negative impact on customer trust for food producers and retailers. Alongside the fallout from this scandal, an increasing focus on environmental sustainability has led to mounting consumer pressure for traceability across supply chains, with greater public demand for food retailers to provide clear, transparent information about...
BUSINESS: Men earn 43 per cent more than women in self-employment, IPSE research reveals

BUSINESS: Men earn 43 per cent more than women in self-employment, IPSE research reveals

Business, WORLD
There is a 43 per cent gender pay gap among the self-employed, research by IPSE (the Association of Independent Professionals and the Self-Employed) has found. This is significantly higher than the 17 per cent among employees. Unlike employees, the self-employed gender pay gap is not driven by employers undervaluing women. Instead, it is likely to be driven by self-employed women undervaluing themselves and charging a lower day rate. Self-employed women were much more likely than their male counterparts to say they would benefit from training on setting and raising their rates (41% compared to 34%). The gender pay disparity has knock-on effects for the financial wellbeing of self-employed women. Half (49%) of them say they worry most or all of the time about their financia...
UGANDA: The untold story about the Nile Perch, fish maw (ennuni).

UGANDA: The untold story about the Nile Perch, fish maw (ennuni).

AFRICA, Business, UGANDA
Fish Maw popularly referred to in one of Uganda’s local language as “ENNUNI” is one of the internal body organs of the Nile Perch fish. It helps the Nile Perch fish to breathe and float on water. In the recent past, fishmongers in a bid to sell the clean Nile Perch to their customers would flash out all the offal from the fish and throw it on the rubbish heap. To them and their customers, the Ennuni was a public nuisance because it was of no use. However, certain foreigners were collecting the Ennuni from the rubbish heap sometimes asking locals to do this for them for almost free. Later on, some curious Ugandans investigated what these foreigners were doing with this useless Ennuni. It has now been discovered that Ennuni is best commercial news for Uganda. In a En...
BUSINESS: African Airlines Lose $400m Since Coronavirus Outbreak

BUSINESS: African Airlines Lose $400m Since Coronavirus Outbreak

AFRICA, Business
African Airlines have lost $400m (£312m) since the outbreak of the coronavirus in China in February, according to the global airline industry body. The epidemic is not as widespread in Africa as in other continents, but it has led airlines like South African Airways, Royal Air Maroc, Air Tanzania, Air Mauritius, EgyptAir, RwandAir and Kenya Airways to suspend flights to and from China. The continent’s largest airline, Ethiopian Airlines, is still operating flights to and from five cities in China. Vice-President of the International Air Transport Association (IATA), Raphael Kuuchi, told the BBC that the losses in the continent’s aviation industry had so far come from suspended and cancelled flights on routes to China. He said the impact of the virus is bound to get wor...
BUSINESS: Power blackouts push South Africa back into depression.

BUSINESS: Power blackouts push South Africa back into depression.

AFRICA, Business
Widespread power cuts are blamed for pushing South Africa’s economy, the continent’s most industrialized, into recession, according to official statistics released Tuesday. The South African economy shrank by 1.4% in the fourth quarter of 2019 from the previous three-month period, after contracting by 0.8% in the third quarter, according to Stats SA. A recession is commonly defined as two consecutive quarters of economic decline. South Africa’s nationwide power blackouts are blamed for the larger than expected decline in the fourth quarter. The state-owned power utility, Eskom, has been unable to meet demand and has had to implement rotating cuts in electricity to residences, factories, mines and businesses. Eskom’s “inability to meet demand on a sustained basis is a key...
AFRICA: The EurAfrican Forum in search for a common ground between Europe and Africa.

AFRICA: The EurAfrican Forum in search for a common ground between Europe and Africa.

AFRICA, Business
2020 edition will look for new opportunities for both continents as it unveils its theme In Search for a Common GroundCASCAIS, Portugal, March 3, 2020/ -- The 3rd edition of the EurAfrican Forum (www.EurAfricanForum.org) to be held on July 2nd and 3rd in Cascais, Portugal will be gathering over 700 European and African key actors from more than 60 countries; 2020 edition will look for new opportunities for both continents as it unveils its theme In Search for a Common Ground; The program will focus on key topics as Africa and Europe relations, Free Trade Agreements, Climate Change, African Arts and Culture, Infrastructure, Connectivity and Off-grid solutions.The annual meeting will gather over 700 African and European changemakers such as entrepreneurs, artists, activists, public ...
EUROPE: The International Labour Organization (ILO) Project, “Egypt Youth Employment (EYE): Working Together in Qalyoubia and Menoufia” Organizes a Workshop on Pathways to Employment

EUROPE: The International Labour Organization (ILO) Project, “Egypt Youth Employment (EYE): Working Together in Qalyoubia and Menoufia” Organizes a Workshop on Pathways to Employment

AFRICA, Business
The workshop aims to discuss current labour market trendsGENEVA, Switzerland, March 2, 2020/ -- The ILO project, Egypt Youth Employment (EYE): Working Together in Qalyoubia and Menoufia, which is funded by the Norwegian government, is organizing workshop on “Pathways to Employment: What works, what does not, and how can we innovate?” which is set to take place on the 2nd of March 2020. This workshop will be a platform to share experiences and evidences on lessons learnt and best practices from active labour market programmes.In this context, the workshop aims to discuss current labour market trends, ILO global programmes to support youth transition to the labour market, and to give an opportunity to explore technical assistance needs in overcoming the challenges and barriers, s...
BUSINESS: African Development Bank Group President Appoints Ms. Bajabulile “Swazi” Tshabalala as Acting Senior Vice President.

BUSINESS: African Development Bank Group President Appoints Ms. Bajabulile “Swazi” Tshabalala as Acting Senior Vice President.

AFRICA, Business
Ms.Tshabalala will replace Mr. Charles Boamah, the former Senior Vice President of the Bank, who retires effectively from the Bank today after 23 years of meritorious serviceABIDJAN, Ivory Coast, March 2, 2020/ --  The President of the African Development Bank Group (https://www.AfDB.org), Dr. Akinwumi Adesina is pleased to announce the appointment of Ms. Bajabulile “Swazi” Tshabalala as Acting Senior Vice President of the Bank with immediate effect. Ms. Tshabalala, currently the Vice President for Finance and Chief Finance Officer for the African Development Bank Group, joined the Bank on August 1, 2018.  Ms. Tshabalala will replace, in this acting capacity, Mr. Charles Boamah, the former Senior Vice President of the Bank, who retires effectively from the Bank t...
BUSINESS: Apple agrees to pay $500m over claims it slowed down old iPhones

BUSINESS: Apple agrees to pay $500m over claims it slowed down old iPhones

Business, WORLD
iPhone owners could get up to $25 (£19.56) per handset if a California judge approves the settlement. The smartphone maker and lawyers representing consumers agreed to a deal stemming from Apple's admission in 2017 that it was slowing down the performance of older devices in order to avoid unexpected shutdowns related to battery fatigue. The admission saw Apple offering discounted battery replacements at $29 (£22.69). But customers claimed they had already spent hundreds of dollars on replacing their handsets because Apple did not reveal why their phones were slowing down. Some consumers in the case said they may not have bought new phones if they had known they could just buy new batteries. Apple did not admit wrongdoing. However, as part of the settlement it ha...
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