The pound has hit its lowest level for more than three months on reports Britain was set to quit the EU single market as part of its Brexit plans. Sterling fell below the $1.20 level before recovering slightly on Monday. The pound also dropped to a two-month low against the euro, falling more than 1% […]
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South Korea’s special prosecutor is seeking an arrest warrant for Samsung heir apparent Lee Jae-yong, accused of bribery, embezzlement and perjury. The case is linked to a scandal that led to the impeachment of the country’s President Park Geung-hye. Samsung is accused of giving donations to non-profit foundations operated by Choi Soon-sil, a friend of […]
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Faraday Future, the company hoping to beat Tesla in the electric car game, had to halt building its factory in order to afford its glitzy CES press event, the firm told the BBC. The company broke ground on its enormous plant in the Nevada desert in April last year – but work halted in October […]
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Tea farmers in Kyenjojo district want government to provide them with soft loans to invest in irrigation facilities. The farmers argue that investing in irrigation facilities will help them minimize losses caused by the dry spell. Kyenjojo and Kabarole districts are known for high tea production, with numerous factories scattered in both districts. The factories […]
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Determined to have employers remit workers’ funds, the National Social Security Fund has launched a whistleblower platform on its website where anyone can log into to report their bosses defaulting on the payments. A statement from NSSF notes that more than 25,000 employers are meant to pay NSSF contributions. The law requires employers with five […]
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Nintendo has said it will release its long-awaited new console, the Nintendo Switch, on 3 March. It will cost $299.99 in the US, £279.99 in the UK and 29,980 yen ($260) in Japan, more than most analysts had been expecting. The stakes are high for the Japanese firm after its most recent console, the Wii […]
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Fiat Chrysler has been accused of not telling authorities about software that regulates emissions in thousands of its diesel vehicles. The US Environmental Protection Agency (EPA) said the company broke the law by installing, but failing to disclose, the technology in more than 100,000 Jeeps and Dodge vehicles. The agency said the software caused higher […]
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Government has launched the tobacco season 2017, with a call on the industry players to exercise self-regulation as well as integrate food security initiatives. Emphasis on food security, expected to be promoted by the tobacco companies, is meant to avoid previous cases of households going hungry after sacrificing growing of food crops at the expense […]
Read MorePoor road infrastructure and unstable power supply are key factors frustrating the growth of investment in Masaka municipality, according to local investors. This is contained in a petition from the investors to the Greater Masaka Consortium, an association of local governments in the region. Led by Dr. Fulgensio Jjuujo, the Chairperson Masaka Investor’s Association, […]
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Kenya’s exports to the region dropped by the largest margin in three years in the third quarter of last year, to $275.7 million from $380.3 million in the first nine months of 2015, new data shows. All countries in the region, with the exception of the Democratic Republic of Congo, cut their uptake of imports […]
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