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Double-edged tax measures to grow EAC local industries
June 17, 2019

East African finance ministers converged on tough taxation measures aimed at protecting local manufacturers from “unfair imports competition,” in their spending plans for the coming year, made public on Thursday.

Most of the tax measures, contained in the budget statements for the 2019/2020 fiscal year, were approved during the ministers’ pre-budget consultations in Arusha in May.

Higher taxation of imports is aimed at driving consumption of cheaper locally produced goods, spurring the growth of manufacturing and creating jobs that ultimately improve living standards.

Proponents of the proposed measures are in line with the EAC Industrialisation Plan that seeks to transform the region into a globally competitive, environment-friendly and sustainable industrial sector that is capable of significantly improving the living standards of the people by 2032.

“The recommendations aim at pushing the regional industrialisation policy, creating jobs and improving East Africans’"...

June 15, 2019

Algeria- Italy’s biggest utility Enel is close to renewing its gas supply import deals with Algeria.

The new deals will be for a contractual period of less than 10 years and will probably be for an 8-year period, Reuters reported.

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June 15, 2019

LONDON/DUBAI: Algeria has floated an idea of increasing an oil supply cut by Opec and its allies in the second half of 2019 as demand falters, Opec sources said, although rolling over current output curbs is still the most likely scenario.
Oil has tumbled from a 2019 peak above $75 a barrel in April to $61"...


June 17, 2019

East Africa’s finance ministers presented expansionary budgets with ambitious revenue targets that are likely to be missed, leading to more borrowing amid rising concerns over looming debt distress.

In Uganda, Matia Kasaija presented a Ush40.5 trillion ($10.7 billion) budget, a 21 per cent rise from this past year’s Ush32.7 trillion ($8.7 billion). To fund the rising budget, which is as a"...

June 17, 2019

The European Union has officially launched its External Investment Plan (EIP) with the private sector in Kenya. At an outreach workshop held with entrepreneurs in Nairobi, the EU brought together key institutions and individuals that can take advantage of the many opportunities presented by the EIP.

The External Investment Plan will play a vital role in contributing to the creation of sustainable investments"...

June 17, 2019

Next to East Africa lies the Free Zone being the second fastest growing region in Africa: here it is predicted GDP growth by 4.9% by 2019.

The report, commissioned by ICAEW and carried out by the prognosticator partner, Oxford Economics, highlights the role of economic diversity in coping with unstable oil prices and the price of raw materials.

According"...

June 17, 2019
The Procter & Gamble Company (NYSE:PG) today announced a series of innovative new creative partnerships with John Legend, Arianna Huffington’s Thrive Global, and others that reimagine creativity to reinvent advertising at a time when change is needed. Meeting growing consumer demand for authentic stories and experiences that positively impact society and humanity, these partnerships embrace the convergence of advertising, journalism, filmmaking, music, comedy, and technology. They also bring together creative innovators who embrace equality and inclusion to create more inspiring creativity that people want to experience time and time again. “For too long, the ad world has been in its own world – separate from other creative industries and becoming less relevant to consumers. It’s time to......

June 17, 2019

Pantheon Development was honoured as the “Best Affordable Luxury Property” during the prestigious Arabian Business Real Estate Awards 2019 at Le Royal Meridien Beach Resort & Spa on Sunday evening.

Pantheon Development, a subsidiary of Pantheon Group, is an emerging brand in the affordable luxury segment within Dubai’s real estate market. The developer has completed and handed over"...

June 17, 2019

iHeartMedia, America’s leading audio company, and WPP, the creative transformation company, today announced the launch of Project Listen to develop next-generation insights, planning and creative capabilities in audio.

The two companies will help brands better engage with consumers and win across all audio platforms: broadcast radio, digital streaming, podcasts, smart speakers and live events.

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