BUSINESS NEWS WITH CONSOLATE NAMYALO POWERED BY STANBIC BANK: Uganda Revenue Authority (URA) has introduced tough measures including travel bans against tax defaulters in a bid to enhance compliance and boost tax revenues in the new financial year. The Government plans to borrow sh2.5 trillion from the money markets in the financial year 2014/15, sh800b higher than last year. National Social Security Fund (NSSF) has doubled its sponsorship for dental surgeons and facilities in the country, from Shs5m to shs10m following their increased demand. A Deputy Minister of Finance, Cassiel Ato Forson, says the structural causes of Ghanas large budget deficits, is hurting the economys reputation as a stable place to invest international private capital. ELSEWHERE: India has taken over from the US as the largest importer of Nigerian oil. The US has drastically reduced its demand for Nigerias crude oil in recent months, the Nigerian National Oil Corporation said. TECHNOLOGY: Facebook suffered a worldwide outage this morning that stopped users across the globe from accessing the social network.Facebook users turned to other social networks, including Twitter, to express their annoyance – with #Facebookdown quickly trending. FOREX RATES: Currency Buying Selling USD 2,572 - 2,582 GBP 4,358. - 4,375 EUR 3,491 - 3,505 KSH 29.39 - 29.5 TSH 1.53 - 1.53
Posted on: Thu, 19 Jun 2014 11:58:51 +0000
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