BUSINESS NEWS WITH CONSOLATE NAMYALO PROUDLY BROUGHT TO YOU BY STANBIC BANK: Etihad Airways will today launch its inaugural weekly cargo flights between Abu Dhabi and Entebbe Airport. The weekly service is expected to carry large quantities of electronics and textiles to Uganda, with the return flight primarily loaded with perishable goods for the Gulf region and Europe. Ugandan rice millers have appealed to East African Community heads of state to stop the importation of rice from Asia to allow the local rice industry to grow. The East African insurance industry is grappling with how best to increase penetration levels amid the current tight market. Claims paid by insurers have doubled in the last three years. Africa will have 760 million urban residents in 2030 and the figure is expected to multiply to 1.2 billion by 2050. During the Annual Meetings of the Africa Development Bank (AfDB) in Kigali, Rwanda, experts on urbanization shared ideas and solutions to the persistent problems facing Africa’s emerging cities. ELSEWHERE: The value of the Manchester United brand has been damaged by a disappointing season according to a study by consultancy Brand Finance. They say Uniteds brand is worth $739m (£439m), down $98m on last year. TECHNOLOGY: Japans Sony has signed a partnership in China to manufacture and sell its PlayStation consoles on the mainland. The deal, formed as two joint ventures with Shanghai Oriental Pearl, gives Sony access to an estimated 500 million gamers in China. FOREX RATES: Currency Buying Selling USD 2,533 - 2,540 GBP 4,265 - 4,280 EUR 3,455 - 3,467 KSH 28.75 - 28.85 TSH 1.52 - 1.53
Posted on: Mon, 26 May 2014 12:12:53 +0000
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