3PM BUSINESS NEWS WITH CONSOLATE NAMYALO BROUGHT TO YOU BY Stanbic Bank: The 9th edition of the largest gathering of eLearning professionals on the continent opened its doors in Kampala today, marking the beginning of the use of electronic media and information and communication technologies (ICT) in education in Uganda. Uganda Sugar Millers Association has raised an alarm over tax-free sugar which is flooding the local market saying local factories could soon shut down due to lack of protection. A regional planning meeting of stakeholders in the East African Community to chart a way forward in the fight against cybercrime is underway at the Speke Resort Munyonyo in Kampala. South Africas economy has contracted for the first time since the global crisis five years ago, raising the spectre of recession in Africas most developed economy.Statistics South Africa reported that the economy shrank by 0.6 percent in the first quarter, a stunning reversal amid a rapid boom elsewhere in the continent. ELSEWHERE: Chinese e-commerce giant Alibaba has bought up a 10% stake in Singapores national postal service provider SingPost for S$312.5m.The move comes as Alibaba - one of the worlds biggest e-commerce firms - has been looking to expand its operations in the Asia-Pacific region. TECHNOLOGY: Google is to start building its own self-driving cars, rather than modifying vehicles built by other manufacturers. The car will have a stop-go button but no controls, steering wheel or pedals. FOREX RATES: Currency Buying Selling USD 2,539 - 2,549 GBP 4,266 - 4,283 EUR 3,456 - 3,470 KSH 28.89 - 29 TSH 1.53 - 1.53
Posted on: Wed, 28 May 2014 11:58:48 +0000