BUSINESS UPDATE Orange Uganda THE Uganda Road Fund (URF) has withheld over sh400m meant for road maintenance in Masaka and Gulu districts after the respective accounting officers failed to account for an earlier release. The withheld funds were meant for January-April quarter road maintenance. President Yoweri Museveni has commended trade between Uganda and South Sudan urging that the gains outweigh those from western countries. Museveni says before conflicts broke out in south sudan, South Sudan alone was contributing $ 450 million through exports and US $ 250 million annually through remittances from Ugandans working in South Sudan. Police has started hunting down three managers of hosanna real estate’s company over fraud. It is alleged that 26 different cases from different people have been reported in court and police respectively amounting to a loss of 320 million. the accused three directors; Charles Kimuli, Francis Kaaya, Vincent Kafeero are still at large but police vowed to net them at all costs. An improving business climate in Kenya has seen both listed and unlisted companies seek nod of the competition authority to acquire other firms locally.the watchdog has approved plans for six entities to undertake acquisitions in Kenya, signalling the firms’ prospects to increase their market share in the market. Toyota is to end its vehicle and engine production in Australia by the end of 2017, effectively marking the end of the countrys carmaking industry. The company said it might scale down the operations of its development and technical centre in Australia as well. RADIOCITY NEWS: WE BRING THE WORLD CLOSER TO YOU
Posted on: Mon, 10 Feb 2014 13:07:17 +0000
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