UGANDA

Uganda cbank to curb shilling decline

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Uganda's central bank said on Wednesday it would adopt a more aggressive stance towards the shilling's exchange rate after the local currency sunk to an all-time low of 2,395/2,400 versus the dollar.

Uganda's 2010 sugar output below forecast: group

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Uganda's 2010 sugar production rose slightly on a year earlier but fell short of forecasts, hit by technical problems at the leading producer and poor rains, an industry association said on Tuesday.
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South Sudan seeks millions for war-hit wildlife

South Sudan appealed for investors to plough $140 million into its war-hit wildlife parks, seeking to kick-start a tourism industry and wean itself off oil months ahead of its expected independence.
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Ugandan journalists arrested over president cartoon

Two Ugandan journalists have been arrested over a cartoon of President Yoweri Museveni on the cover of their magazine which referred to his 24 years in power and asked Where next?, their lawyer said on Wednesday.
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World of stats now available

If statistics is your thing – whether for scholarly work, trivial pursuit, or just to impress a date – you may want to look into the latest edition of the U.S. government’s best-selling reference book: the Census Bureau’s Statistical Abstract of the United States: 2011.

Alcatel-Lucent, subsidiaries settle corruption charges with DOJ for $92 mln

Paris-based telecoms equipment giant Alcatel-Lucent SA and three of its subsidiaries have agreed to pay a combined $92 million penalty to settle a Foreign Corrupt Practices Act (FCPA) investigation into the global sales practice of Alcatel S.A. prior to its 2006 merger with Lucent Technologies Inc.
Obama calls for elimination of Uganda's rebel group

Obama calls for elimination of Uganda's rebel group

United States President Barack Obama has announced intent to take on the Uganda's most feared Lord's Resistance Army (LRA). Responding to US legislation passed in May this year, Obama declared his four-point strategy which called for disarmament of Joseph Kony-led LRA fighters.
Civil war in Sudan could cost $100 bn

A reignited civil war in Sudan could cost $100 bn : Report

A reignited civil war after the Southern Sudan referendum on independence could cost the International community and the country at least $100 billion, a think-thank report said. The January 9 vote is likely to go in the favor of the oil-rich South Sudan's demand of secession from the North. Tensions have been escalating in the region with reports of a fresh wave of attacks led by the government troops on South Sudan regions.
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FTSE rises as UK GDP is revised up

The top share index was up by midday on Friday, off a seven-week low earlier this week, after the UK's second-quarter gross domestic product was unexpectedly revised upwards and ahead of a speech from U.S. Federal Reserve Chairman Ben Bernanke.
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FTSE falls ahead of GDP data

The top share index fell marginally early on Friday, as investors waited on the sidelines ahead of the second release of second-quarter GDP and a major speech by U.S. Federal Reserve Chairman Ben Bernanke.
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Commodity Trends: No ban on cardamom futures

With open interest in cardamom futures surging, rumors of a ban on the contract also started circulating until Forward Markets Commission clarified that there would be no ban on cardamom futures.
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East Africa's monetary goal undaunted by euro woes

East African Community, a five-nation trade bloc that aims to have a monetary union in 2012, said on Monday that problems in the euro area will serve as a lesson but will not discourage its move to a single currency. East African Community (EAC) comprises Uganda, Kenya, Tanzania, Uganda and Burundi. It already has a customs union, and a common market is due to take effect in July. After the monetary union, it eventually aims to have a political federation.
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Uganda's third gold refinery starts functioning

Uganda's third gold refinery named Victoria Gold Star started operations with a capacity to refine 60kg of gold daily. The refinery, built with the help of Russian investors at a cost of around $1.5million, was located at Fifth Industrial area in country's capital Kampala.
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Asia, Africa to drive coffee production growth

A dynamic model was used to make coffee projections. It covers the major exporting and importing countries of green coffee. Supply, demand and stock functions were estimated for each of the major exporting and importing countries. The model performs dynamic simulation forward in time and generates forecasts on the basis of assumptions for the future behaviour of GDP, consumer price indices and exchange rates.
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Uganda announces plan to sell Jinja oil reserves

Amid looming fuel shortages, Uganda on Tuesday announced fresh plans to sell the Jinja Oil Reserves. In a statement, Uganda's energy ministry said the government does not have the money to maintain the reserves. This will not be the first time that the country's oil reserves are being put up for sale. The earlier deal that was awarded to Libya's Tamoil to manage the reserves was cancelled by the government following procurement irregularities.
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MTN says Nhleko to step down as CEO by 2011

Phuthuma Nhleko, Chief Executive Officer of South African mobile phone group MTN (MTNJ.J), will step down as CEO and group president in March 2011, the group said on Monday.
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Climate change affecting Kenya's coffee output

Climate change has affected Kenyan coffee production through unpredictable rainfall patterns and excessive droughts, making crop management and disease control a nightmare, a researcher said on Thursday.
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Eco-chic fashion shows off stylish sustainability

Nearly 50 ready-to-wear and couture designers from 40 countries displayed sleek garments in the Thursday night show that ushered in the International Year of Biodiversity in the middle of the autumn/winter catwalk season under way in Milan, Paris, London and New York.
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Rescue teams pull back as Haiti aid flows in

Somalia's hardline al Shabaab rebels threatened on Thursday to attack neighbouring Kenya following a crackdown on Somalis in the capital Nairobi, according to a recording posted on an al Shabaab Web site.
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Somali hardline rebels threaten Kenya attack

Somalia's hardline al Shabaab rebels threatened on Thursday to attack neighbouring Kenya following a crackdown on Somalis in the capital Nairobi, according to a recording posted on an al Shabaab Web site.

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