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NORWEGIAN energy producer, Statoil, has acquired 12 percent working interest in Block 6 licence offshore Tanzania from operator Petrobras Tanzania Ltd.

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INVESTORS are taking advantage of low market prices of most stocks on the Dar es Salaam Stock Exchange (DSE), with expectation of picking up again to their normal prices.

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THE Tanzania Revenue Authority (TRA) in Arusha region has surpassed its July and August revenue collection targets of 63.1bn/- by collecting a total of 64.6bn/-.

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PRIME Minister Kassim Majaliwa has ordered the Mafia District Commissioner (DC), Mr Shaib Nnunduma and District Council’s Director, Mr Eric Mapunda to strengthen patrol to curb illegal fishing in the sea.

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AS liquidity tightness eases, investors’ demand for the treasury bills has improved to register an over-subscription after weeks of poor performance. According to the NMB e-markets report, liquidity tightness slightly improved as banks are now willing to rollover maturities.

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TANZANIA Breweries Limited said it would enhance public awareness on responsible drinking to rid the nation with effects of harmful drinking.

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TANZANIA aspires to see the mining sector contributes up to 10 percent to the economy through value addition and beneficiation so as to spur growth and development.

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TWIGA Bancorp will next week open a new branch at Kariakoo to bring to six the number of its branches in Dar es Salaam, as it seeks to tap into market opportunities in the bustling business area of the city.

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THE Tanzania Bureau of Standards (TBS) has urged farmers to observe required quality and standards to boost efforts of attaining an industrial economy.

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THE mortgage business has increased by 29 per cent in the second quarter of this year compared with the first one, but limited down by high lending interest rates.

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WITH enthusiasm still high after the arrival of one of the two Air Tanzania Company Limited (ATCL) planes in Dar es Salaam on Tuesday, stakeholders say the national carrier needs competent management to run it profitably.

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LOCAL clearing agents in Rwanda have welcomed the decision by shipping lines at Dar es Salaam port to waive container deposit fees. Maersk and Safmarine shipping lines recently agreed to give a waiver on container cash deposit to members of the Rwanda Freight Forwarders Association to reduce the cost of doing business.

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TPA Director General, Engineer Deusdedit Kakoko

Business

TANZANIA Ports Authority (TPA) management has assured Democratic Republic of Congo (DRC) business community of efficiency and good business environment.

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BOARD members of the Tax Revenue Appeals Board (TRAB) have been urged to find timely resolution of the received cases to save tax payers’ time and money.

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TANZANIA’S economy could be boosted by nearly 500 million US dollars using digital payments instead of cash, according to a new United Nations study.

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DAR ES SALAAM Municipal Council is expected to collect 60bn/- per year up from 6.0bn/- after improvement on the geographic information system (GIS).

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MWADUI’S Williamson Diamond revenue has increased 15 per cent due to the higher proportion of run of mine (ROM) versus alluvial diamonds for the year.

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TANGA Cement Public Limited Company (TCPLC) has launched an all-purpose cement brand dubbed ‘Mkombozi’ which is meant for various construction activities.

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THE government will continue to create conducive environment and collaborate with Norwegian companies which wishes to invest in energy sector.

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THE Tanzania Revenue Authority’s (TRA) exercise to update details regarding taxpayers Identification Number (TIN) is so far going on well and with huge turnout of taxpayers at different identified data update centres.

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THE government will not issue new guidelines for food exports but will make sure rules and procedures are followed so as to monitor and control the business.

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KILIMANJARO regional authority has been asked to combat smuggling of construction materials in order to protect local manufacturers.

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ACACIA, the largest gold miner in the country, has embarked into an initiative to develop young mining leaders.

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THE government has been requested to consider waiving various taxes charged on private schools to make them affordable to all.

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TANZANIA Trade Development Authority (TANTRADE) has organized a six-day training to build capacity for 200 farmers of spices and horticulture on packaging of their produce.

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THE Uganda-Tanzania crude oil pipeline business opportunities are going to be unveiled to private sector in special workshop next Tuesday.

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ACACIA Mining reiterated its full-year production guidance for its Bulyanhulu mine and for the group as a whole, despite setbacks in resuming production at its processing plant at the former site following planned maintenance.

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MARA Region is set to get its first modern meat factory after investors showed interest to establish a meat and beef processing plant to tap into huge potential of meat industry in the Lake Zone region.

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SBC Tanzania Limited, a soft drinks bottling company (PEPSI), has donated 200 desks worth 22m/- to Gogo Primary School in Chanika area, Ilala District, Dar es Salaam Region to support government’s effort to offset desk shortage in primary and secondary schools countrywide.

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FLIGHTLINK Air Charters won the Tanzania Top 100 Mid-Sized Companies award 2016/17 during a prestigious corporate event held in Dar es Salaam on Friday evening.

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TRADERS in Kagera Region have asked the government to help them with soft loans so that they can manage to cope with the current economic difficulties after the earthquake struck the region on September 10, this year.

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THE shilling has remained steady in the first half of 2016 following monetary policy initiatives taken to manage liquidity in the circulation and economic trend within and outside the country.

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OIL major Shell is planning to start exploration drilling offshore Tanzania later this year, according to partner Ophir Energy.

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