BUSINESS UPDATE WITH Orange With only a few hours to the new financial budget, civil society organizations spearheaded by The Civil Society Budget Advocacy Group wants the next financial years budget 2014/15 to focus on agriculture, health, education, and youth unemployment. The coalition stresses the need for prioritizing agriculture explaining that majority of Ugandans are employed by the sector. The group says there is an urgent need of increasing agriculture extension services to over 50% of the farmers so that they can have access to good quality seeds and appropriate technology for value addition to make agriculture attractive. The education ministry has lamented the increasing number of children joining school every year which has strained the budget making it so hard for the ministry to provide services. The ministry says enrolment increased by 0.6 per cent from 8,337,069 in 2012 to 8,390,674 in 2013. Power Transmission Company, Uganda Electricity Transmission Company Limited has exchanged with investors over development of land earmarked for power lines reserves. The latest land row is over land situated in Kyambogo which has been excavated and all tower lines have been dug and are hanging in isolation. UETCL claims an investor known as “Kings Hero” approached them with plans to establish a car bond which they rejected but he insisted to dig up the area. The Uganda National Roads Authority (UNRA) is also contesting development of the same land because it is within a road reserve on the Kampala-Jinja Highway. The latest in a series of callbacks by the worlds biggest automaker, Toyota has recalled 2.27 million vehicles globally over an airbag system defect that could cause a fire. The company, which has now recalled about nine million vehicles in the past two months, said the announcement covered about 20 models, including its Corolla sedan and Yaris subcompact. The fire risk from the defect covers about 1.62 million cars abroad and 650,000 in Japan. The European Commission is to open formal investigations into Apple, Starbucks and Fiat in relation to tax arrangements with three EU countries. The firms arrangements with Ireland, the Netherlands and Luxembourg will be investigated. Tax Commissioner Semeta said that a fair tax competition was essential. Last year, a US Senate investigation accused Ireland of giving special tax treatment to Apple. RADIOCITY NEWS: WE BRING THE WORLD CLOSER TO YOU
Posted on: Wed, 11 Jun 2014 13:09:17 +0000
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