BUSINESS UPDATE WITH Orange President Yoweri Museveni is in London to address a two-day UK-Uganda business forum at Lancaster House where he is marketing Uganda’s business potential to foreign investors. The President who is accompanied by the First Lady and minister for Karamoja affairs Janet Kataha Museveni is leading over 40 senior business leaders and a ministerial team to update prospective investors on Uganda’s economic outlook and opportunities available for investment including in the booming natural resources sector, housing and construction, tourism, health, transport, education and various other infrastructure. One of Uganda’s leading supermarkets Uchumi has dismissed allegations that it has been collecting Value Added Tax on behalf of the Uganda Revenue Authority and not remitting it. The country manager Mr Jeff Nchaga, denies any non-compliance, saying the mentioned matter is not in any way related to Uchumi (U) Ltd. The Uganda Revenue Authority published a list of 901 firms, whose VAT registration was cancelled at the beginning of last month, saying they had been collecting the tax on its behalf and not remitting it to the tax body. Rent on the outskirts of Nairobi has increased significantly, pushing away Kenyans seeking affordable housing. The districts that were once a haven for Nairobi residents looking for inexpensive houses are slowly losing appeal to most lower-middle and low-income earners. Many Nairobi residents prefer to live in these estates and pay fair rent, but commute longer distances to the city Centre. A two-bedroom apartment in the estates is currently renting at between kSh18, 000 and kSh30, 000 monthly. This is a significant increase from the past two years, where the rent did not surpass kSh15, 000. China has temporarily banned imports of British cheese after the countrys food inspectors complained about hygiene standards at an unnamed UK dairy. The Chinese officials were reportedly dissatisfied with its maintenance and storage, raw milk transport temperatures and air sanitisation. However, the dairy they visited does not export its produce to China. UK Farming Minister George Eustice has called for restrictions to be lifted as soon as possible. RADIOCITY NEWS : WE BRING THE WORLD CLOSER TO YOU
Posted on: Mon, 05 May 2014 13:07:29 +0000
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