BUSINESS NEWS UPDATE WITH Orange Analysts have advised Uganda’s tea exporters to directly export the commodity to emerging markets globally to increase revenue. Currently, about 97 per cent of all the tea produced in Uganda is exported and sold through the Mombasa tea auction and branded as Kenyan. ………………………………………………………. Exports of coffee from Uganda could rise as much as 3% this year as crop outputs increase, thanks to more rain in regions where the bean is grown. Uganda, the biggest exporter of coffee in Africa, could see exports rise to 3.6 million 60-kg bags for the season. ……………………………………… The House is today poised to adopt a finance committee report that recommended that the proposed 18% Value Added Tax (VAT) on agricultural inputs and equipment be scrapped. While reading this year’s budget, finance minister Maria Kiwanuka proposed an 18% VAT on agricultural supplies such as hoes, fertilisers, seedlings and tractors in order to generate sh30.4b, about 0.2% of the entire budget. …………………………… INTERNATIONAL BUSINESS Chinese online giant Alibaba has increased the price range of its initial public offering (IPO), meaning it could raise more than $25bn (£15bn) when it lists in New York. The firm said in an official filing that it expected to price its shares at between $66 and $68 a share, up from its earlier price range of $60 to $66 a share. The increase suggests demand for the firms shares are high.Its listing is expected this week. A look at the forex rates USD 2610 2620 GBD 4210 4260 EURO 3360 3410 KSHS. 29.2 29.5 Forex Rates brought to you by City Bureau de Change located at Jumbo Plaze, Shop Number 4 on Parliament Avenue and Pioneer Mall, shop 4, City Bureau De Change also offerS FOREX EXHANGE Telegraphic Transfers, WESTERN UNION, MONEY GRAM AND CROSS CURRENCY OPTIONS. THAT IS THE BUSINESS NEWS ON 97FM RADIOCITY Get help immediately when you need it with Orange, the number one internet provider with customer care calls that go through whenever you call. Simply dial *133# to buy a data bundle for your phone or modem. Internet changes with Orange. Today changes with Orange.
Posted on: Tue, 16 Sep 2014 13:09:29 +0000
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