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Businessbusiness   DAX Down -2.78% at 6236.16 DJ up 0.54 at 11444.61 32 NEW VISION, Tuesday, August 9, 2011 NEW VISION Oil Down at $106.15 FTSE Down -2.71% at 5246.99 CAC Down -1.26% at 3278.56 BusinessBusiness DAX Down -2.78% at 6236.16 DJ Up 0.54 at 11444.61 FOREX By MACRINES Passion fruits sellers count losses despite Ramadhan Tour operators get skills in SA NYAPENDI RATES By VIOLET NABATANZI “A person with 10 family members cannot By JIMMY ADRIKO IN S. AFRICA “The trip will make their work JAFFERY FOREX Tel.347090/1 buy passion fruits because he cannot spend a easy as they will sell what they Currency Buy sell Passion fruits sellers have not yet benefited kilo of sugar on just juice,” he argued. Six Ugandan tour operators have experienced and seen,” from this year’s Ramadhan as has been the Mutyaba said though the prices of passion have acquired tourism market- said Kubinga. US Dollar 2670 2685 ing skills. The six are presently Nina Kembabazi of Simba Pound Sterling 4360 4325 case in previous years. fruits had dropped, they were few buyers. According to Ronald Mutyaba of Nakasero He said they were selling 12 passion fruits at on 10-day educational and fa- Travel Care said the trip broad- Euro 3825 3845 Market, many Muslims have opted to use wa- sh1,000 compared to five recently. At St. Ba- miliarisation tour of four cities ened her mind. “I can now sell Kenya Shs 28.2 29.5 ter instead of passion fruit juice when they are likuddembe Market, 13 passion fruits were at in South Africa. South Africa confidently.” STANHOPE Tel.347297/8 breaking their fast because of the high sugar sh1,000 compared to eight previously. A bag The team, led by Milcah Kub- The team was sponsored by US Dollar 2675 2690 prices. of passion fruits that used to be sold out in two inga, has visited tourist and the South African Airways and Pound Sterling 4350 4430 Currently, a kilogramme of sugar costs be- days now takes five to 10 days, he added. leisure facilities in Cape Town, Southern Sun, which runs a Euro 3800 3850 tween sh6,000 and sh7,000 despite scrapping Daniel Kalyango, said a bag of passion fruits Durban, Johannesburg and Sun chain of hotels in South Africa Kenya Shs 28.5 29 of taxes on sugar imports. costs between sh100,000 and sh200,000. City. and a tour firm, Legend Tours. SHUMUK Tel.0414259736 US Dollar 2673 2683 Pound Sterling 4355 4425 Euro 3820 3860 Sar 360 370 EAC countries agree on uniform SPOTCASH Tel.0776628689 US Doll ar 2675 2695 Pound Sterling 4345 4395 Euro 3815 3885 Kenya Shs 28.5 29.2 LLOYDS FOREX Tel.0414348561 food processing standards US Dollar 2670 2680 PICTURE BY RONNIE KIJJAMBU Pound Sterling 4330 4400 Euro 3765 3855 Uganda loses sh737b Kenya Shs 28.5 29.5 METROPOLITAN Tel.0414232773 US Dollar 2675 2695 due to malnutrition Pound Sterling 4363 4413 Euro 3803 3853 Kenya Shs 28.4 29.4 MIDLAND Tel.0414233977 EAC discussing draft US Dollar 2665 2685 By PASCAL KWESIGA five member countries. Pound Sterling 4320 4450 AND BASHIR KIBUUKA Uganda started fortifying sta- MIDWEST Tel.0414255642 ple foods, mainly cooking oil, US Dollar 2670 2680 The East African Community maize and wheat flour with vi- Pound Sterling 4345 4410 (EAC) member countries will tamins A, B1, B2, B6, B12, folic Euro 3790 3850 harmonise food fortification acid and minerals, iron and Kenya Shs 28.6 29.3 standards to reduce the in- zinc, in 2003. HYDERY FOREX Tel.255780/1 creasing nutritional deficien- The region will start using US Dollar 2673 2683 cies among the population uniform fortified foods stand- Pound Sterling 4340 4470 across the region. ards after adopting the pro- Euro 3810 3850 Food fortification involves posed EAC draft standards Kenya Shs 28.5 29.5 adding of nutrients to food- that were suggested by the five DOLLAR HSE Tel 252918/9 stuffs, especially essential vi- countries. US Dollar 2675 2690 tamins and minerals, during The Uganda National Bureau processing. Pound Sterling 4350 4420 of Standards (UNBS) and the Uganda loses about sh737.8b health ministry recently met Kenya Shs 28.4 29.4 ZAIN FOREX Tel. 0414288580 worth of productivity annually with local food processors in due to the effects of stunted Kampala to study the proposed US Dollar 2668 2688 growth in children, iodine and draft standards. Pound Sterling 4328 4428 iron deficiency disorders, ac- Similar discussions on the re- Euro 3770 3850 cording to a recent report by gional draft standards are un- Kenya Shs 28.4 29 the Uganda National Academy derway in all the EAC states. Prime Tel.0414250476 of Science. UNBS executive director Dr. US Dollar 2665 2685 The report also said the Terry Kahuma said applying Pound Sterling 4340 4400 country loses 4% of its gross uniform standards on fortified Euro 3760 3860 domestic product each year foods would reduce malnutri- CROWN Tel.0414252500 because of malnutrition. tion in the region. US Dollar 2670 2680 It noted that harmonising Patricia Ejalu, the UNBS Pound Sterling 4310 4410 food fortification standards standards manager, urged the Euro 3770 3870 would boost free trade in for- food processors to adhere to MONEYPOINT Tel.0414255552 tified food products like maize the local standards as they wait Mukono district principal health inspector Kazimoto Yossa (right) showing a water bottle and wheat flour, edible oil, for the regional standards to be US Dollar 2670 2680 to Khemabhai Patel, the Mukono Industries production manager at the function Pound Sterling 4350 4390 sugar and salt across the EAC enacted. Euro 3780 3830 WALK-IN Tel.0414343004 US Dollar 2670 2680 Nigeria govt takes over Orient Bank’s majority shareholder Pound Sterling 4340 4380 Euro 3730 3830 By STEPHEN ILUNGOLE The Bank PHB Plc is the ma- with the local laws and regula- The Nigerian Deposit Insur- banks to avoid hurting deposi- ROYALCASH Tel.0414255332 jority shareholder in Orient tions. ance Corporation (NDIC), the tors. US Dollar 2672 2690 The Central Bank of Nigeria Bank Uganda. “The changes in Nigeria are regulator, has created three “This option will provide for Pound Sterling 4350 4400 (CBN) on Friday nationalised Maxwell Ibeanus, the Orient important to ensure recapitali- bridge banks (temporary continuity in banking service Euro 3790 3860 Afribank Plc, Spring Bank Plc Bank managing director and sation. The transition will be banks) to acquire the assets of to protect depositors. It will en- SPEEDBIRD Tel.0414254521 and Bank PHB Plc because chief executive officer, yester- seamless,” Ibeanus said in a the banks so as to continue op- sures that no depositor losses US Dollar 2660 2695 the three rescued banks “have day confirmed the takeover. statement. erations on a fresh note. money,” Ibrahim argued. Pound Sterling 4350 4420 not shown the necessary ca- He, however, insisted that the “We will continue to deliver Umaru Ibrahim, the NDIC The CBN and NDIC had in Euro 3780 3820 pacity and ability to beat the institution operates under the a smooth, consistent and pro- boss, said the provision of 2009 carried out a special ex- S&A Tel.0414507126 September 30 recapitalisation strict supervision of the Bank fessional service to all our cus- the bridge bank option would amination of all banks in Ni- US Dollar 2667 2680 deadline.” of Uganda and in accordance tomers.” prevent the liquidation of the geria. Pound Sterling 4345 4400 Euro 3780 3850 RATES ARE SUBJECT TO CHANGE Don’t miss Representing Uganda Abroad on page 33 today.
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