Business

Trump to discuss trade with China’s Xi as talks continue

U.S. President Donald Trump said he will discuss trade with Chinese President Xi Jinping on Tuesday, as both sides continue talks after failing to reach a consensus at talks in Beijing last week. Trump announced the planned telephone call in a post on Twitter, just days after a U.S. delegation...

Tuesday, May 8, 2018 - 11:13pm

Rwanda to issue Rwf10 bn Treasury bond this month

The Government of Rwanda is back to the Market with a ten-year Treasury bond worth Rwf 10 billion to fund infrastructure projects, the central bank released on its website. Bids for the bond, whose coupon will be determined by the market, will be received from May 21- 23. It will be listed on the...

Tuesday, May 8, 2018 - 9:56am

TAS 2018: The future of blockchain technologies in Africa

As Transform Africa Summit 2018 kicks off in Kigali, different experts from across the continent and beyond are deliberating on a number of technology issues and how Africa can reap benefits from them. At ‘The Workshop’, a side-line event which took place at the Kigali Serena Hotel,...

Tuesday, May 8, 2018 - 9:47am

RURA strengthens regulations to improve efficiency in transport sector

In a bid to continuously improve transport operations in the country the Rwanda Utilities Regulatory Authority (RURA) is in the process of adjusting regulations to encourage necessary innovations corresponding to available investment opportunities as well as ensuring improved service delivery....

Tuesday, May 8, 2018 - 12:00am

Private sector urged to invest in forests

You can watch your money grow by investing in Rwanda’s forests, investors are being told. The government, in its 7-year strategic plan ((2018 – 2024), strongly believes that investing in trees now will yield profits in the near future. According to Dismas Bakundukize, the Director of...

Tuesday, May 8, 2018 - 12:00am

The Daily Devil’s Dictionary: “Investing” According to Warren Buffett

There is a false frontier between investment and speculation, but Warren Buffett can’t see it. When you’re as rich as Warren Buffett, you must be smart. And if you’re smart, you can clearly establish the difference between things, especially things you’re in contact with in...

Tuesday, May 8, 2018 - 12:00am

East Africa to harmonize vehicle inspection standards to enhance road safety

The East African Community (EAC) member states are set to harmonize their vehicle inspection standards in order to enhance roads safety, Kenya's road safety agency said on Friday. Gerald Wangai, director of Motor Vehicle Inspection at Kenya's National Transport and Safety Authority (NTSA...

Tuesday, May 8, 2018 - 12:00am

Kenya’s Java House aims to spread wings following new partnership

Kenyan casual dining and coffee chain Java House Africa, bought last year by private equity firm Abraaj, plans to double outlet numbers in its domestic market over the next two years before expanding in East Africa and beyond. The company plans to open 25 new restaurants in Uganda and a dozen in...

Monday, May 7, 2018 - 12:00am

Plane makers risk order disruption as Etihad reviews strategy

Airbus and Boeing are preparing for possible changes to dozens of plane orders from Middle East carrier Etihad Airways as it presses ahead with a company-wide review, four sources familiar with the matter said. Etihad has been reviewing its business since 2016 when investments in other airlines...

Monday, May 7, 2018 - 12:00am

ZTE requests U.S. commerce department to suspend business ban

China’s ZTE Corp has submitted an application to the U.S. Commerce Department’s Bureau of Industry and Security (BIS) for the suspension of a business ban, it said in a filing to the Shenzhen stock exchange on Sunday. Washington imposed a seven-year ban on U.S. companies selling...

Monday, May 7, 2018 - 12:00am

Twitter urges all users to change passwords after glitch

Twitter Inc urged its more than 330 million users to change their passwords after a glitch caused some to be stored in readable text on its internal computer system rather than disguised by a process known as “hashing”. The social network disclosed the issue in a blog post and series...

Friday, May 4, 2018 - 10:42pm

Economists warn White House of danger of trade protectionism

More than 1,100 economists on Thursday warned President Donald Trump and U.S. Congress not to repeat the mistakes made in the 1930s by adopting trade protectionism policies. The economists, including 14 Nobel prize winners and other economic advisors to former U.S. presidents, sent a letter to...

Friday, May 4, 2018 - 10:39pm

RSE to automate trading activity next month

Rwanda Stock Exchange (RSE) is in the process of incorporating IT in its operations and is set to automate trading of stocks and shares by the end of June. RSE chief executive Pierre Célestin Rwabukumba said that plans for automating trading activities are on and they would involve neighbouring...

Friday, May 4, 2018 - 9:39am

Businesses ‘key to success of AfCFTA deal’

The success of the African Continental Free Trade Area (AfCFTA) agreement will significantly rest on the ability of Africa’s private sector to produce goods for the market, the President of the African Export-Import Bank (Afreximbank), has said. Dr Benedict Oramah said there is need for the...

Thursday, May 3, 2018 - 10:03am

Cement shortage: Construction stakeholders decry disruptions

Key players in the local construction sector and other stakeholders have decried the shortage of cement on the market, which has seen prices skyrocket.  Cement prices have been going up steadily since March. Damascene Nsabimana, a Kigali-based civil engineer, told Business Times that the...

Thursday, May 3, 2018 - 12:12am

Bralirwa after-tax profit up by over 260%

Shareholders of Bralirwa are set to see an increase in earnings of their shares after the firm registered an after tax profit of 263.3 per cent in 2017. The firm, which is Rwanda’s oldest brewery, announced that their after tax income had gone up from Rwf 1.4 billion in 2016 to Rwf 5 billion...

Wednesday, May 2, 2018 - 3:40pm

EAC standards harmonisation ‘to boost intra-regional grain trade’

Eastern Africa Grain Council (EAGC), in partnership with the USAID East Africa Trade and Investment Hub, on Monday launched nine East African Standards for staple foods. The nine priority product standards reviewed were for maize (grain), wheat, milled rice, dry beans, dry soybeans, maize flour,...

Wednesday, May 2, 2018 - 2:09am

Preps for Rwanda trade fair 2018 underway

Preparations are already underway for the 2018 edition of Rwanda International Trade Fair (RITF). The exhibition, organised by the Private Sector Federation, is scheduled to run from July 26 through August 15 at the Gikondo Expo Grounds, Kigali Speaking to The New Times, Eric Kabeera, the head of...

Wednesday, May 2, 2018 - 2:07am

22-year-old’s experience in footwear production

Samantha Freedom Ahirwe  says that she founded Posh Creative, a local footwear company, with two social aims; empowering  vulnerable women and making sandals from easily available material. Her choice of materials was crotchet and rubber as she wanted her products to be unique and have...

Tuesday, May 1, 2018 - 12:00am

Market watch: Tomatoes, onions prices up in Kigali

Food prices have remained high in markets across Kigali city with some prices more than doubling within just months, according to a mini-survey carried out by The New Times last week There has been a drastic increase in prices of tomatoes, onions and bananas among other commodities in various...

Tuesday, May 1, 2018 - 12:00am