BUSINESS UPDATE WITH Orange Kampala City Traders Association has expressed anger over fake cargo transporters who are soon pushing them out of business. Traders are complaining of some companies that deliver goods after expiry or close to expiry, leaving them in losses and others dont deliver at all. They are also irritated by the high charges of cargo transporters .During a press conference at Grand Imperial Hotel the association chair, Everest Kayondo noted that the carelessness of these cargo transporters has had a negative impact on Ugandan traders. He also added that this has left the Ugandan market dominated by foreign traders, which is unfair in the competitive world Experts say that less demand for the dollar has kept the Uganda Shilling strong which they say is good for the economy which is largely dependent on imports. According to Bank of Uganda’s daily report, by close of yesterday, the shilling was trading in the ranges of 2,514/2,524 against the 2,517/27 it traded on early this week. The Head of Financial Markets Standard Chartered Bank James Mutuku has said the strengthening of the shilling from 2,570 to the current levels of 2,520 is an indication that it will remain in the 2,500-2,550 range in the medium term. President Kenyatta, who is the chairperson of the EAC Heads of State Summit, has called on the member states of the East African Community to speed up the adoption of a common currency for the region. President Kenyatta said a single currency will assure faster economic growth for the region and called on the member countries to lay the necessary foundations for it to be achieved. He said the benefits of the EAC union will be achieved when all commitments under agreed protocols are implemented. Experts have however called on the members to be cautious and that instead of speeding up the monetary union, the region should ensure that the common market protocol and customs union are working as envisaged. Due to extra costs from exiting its Vaio PC business, Japans Sony has said it will report a bigger-than-expected loss for the year to March. The firm has also been hit by charges related to the write down of the value of its disc manufacturing business, which makes DVDs and CDs. The consumer electronics giant now expects to report a full-year loss of $1.3bn. And now Forex rates brought to you by city bureau de change CURRENCY BUYING SELLING USD 2512 2526 GBD 4225 4270 EURO 3480 3530 KSHS. 28.8 29.1 RADIOCITY NEWS: WE BRING THE WORLD CLOSER TO YOU
Posted on: Thu, 01 May 2014 13:13:47 +0000
Trending Topics
Recently Viewed Topics
© 2015