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FBI director says he intends to resign at end of Joe Biden’s termKAMPALA (Reuters) – Uganda’s motor vehicle engineering sector is evolving rapidly, fueled by technological advancements and innovations. The country has even ventured into electric car production through Kira Motors, a milestone under President Yoweri Museveni’s administration. Among the trailblazers in this industry is Apollo Mugenyi, a motor vehicle engineer specializing in computerized car repair. “I began my career at Bumu Garage in Kabusu, repairing conventional cars,” Mugenyi explains. “In 2019, I advanced my skills by studying in Dubai, where I mastered computerized car repairs at Ravon International and Harrow Security Services. There, I learned diagnostic scanning, oil servicing, and software installations.” Mugenyi now runs Apple Victory Auto and Repair Garage in Kabusu, Kampala, offering specialized services in computerized car repair. His expertise extends to high-end vehicles like Range Rovers and Mercedes-Benz models, vehicles he says are increasingly common on Ugandan roads due to their advanced features and appeal. Born in Ibanda District in 1989 to Charles and Olivia Katusiime, Mugenyi attended Kyabenda Secondary School before pursuing his passion for cars. “The dream of owning and fixing cars came after college,” he says. Mastering the Craft Mugenyi’s skills include engine repairs, oil servicing, panel beating, and software installation for computerized systems. “I specialize in diagnostics and programming, which are essential for modern vehicles,” he says. His garage caters to a diverse clientele, offering services like battery exchange, camera installation, and bulb cleaning. Returning to Uganda, he established his garage with an initial capital of UGX 4 million. Despite the high costs of equipment and spare parts—some imported from Dubai—Mugenyi has built a sustainable business, expanding to Nsangi along Masaka Road to reach more customers. Challenges and Opportunities “The computerized car sector is expensive,” he notes. “Repairs can cost UGX 1 million, and tools like diagnostic computers are costly, with mine priced at UGX 25 million.” Despite these challenges, Mugenyi’s business has thrived, thanks to his commitment to quality and innovation. The government, he says, must invest in the motor vehicle engineering sector. “Support for research, funding, and infrastructure is crucial for growth,” he urges. Building Trust and a Legacy Over seven years in the industry, Mugenyi has earned a reputation for reliability. “My clients trust me, and word-of-mouth referrals are key to my success,” he says. He credits his mentor, Sam Nimusiima, for inspiring him and advises young engineers to embrace patience, passion, and continuous learning. With plans to expand his business across Uganda, Mugenyi envisions a brighter future for the motor vehicle engineering sector, driven by innovation and determination. (Editing by Reuters staff)0 tagalog 。

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MCD selects agency for plant near abattoirNEW YORK (AP) — U.S. stocks are climbing Thursday after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 was pulling 0.7% higher, as of 2:45 p.m. Eastern time, after flipping between modest gains and losses several times in the morning. Banks, smaller companies and other areas of the stock market that tend do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. The Dow Jones Industrial Average jumped 532 points, or 1.2%, and the Nasdaq composite gained 0.2%. Nvidia's rise of 1.4% was the strongest force pushing the S&P 500 upward after yet again beating analysts’ estimates for profit and revenue. It also gave a forecast for revenue in the current quarter that topped most analysts’ expectations thanks to voracious demand for its chips used in artificial-intelligence technology. Its stock initially sank in afterhours trading Wednesday following the release of the results. Some investors said the market might have been looking for Nvidia's revenue forecast to surpass expectations by even more. But its stock recovered in premarket trading Thursday, and Wedbush analyst Dan Ives said it was another “flawless” profit report provided by Nvidia and CEO Jensen Huang, whom Ives calls “the Godfather of AI.” How Nvidia’s stock performs has tremendous impact because it’s quickly grown into Wall Street’s most valuable company at roughly $3.6 trillion. Its meandering up and down through the day dragged the S&P 500 and other indexes back and forth. The frenzy around AI is sweeping up other stocks, and Snowflake jumped 32.3% after reporting stronger results for the latest quarter than analysts expected. The company, whose platform helps customers get a better view of all their silos of data and use AI, also reported stronger revenue growth than expected. BJ’S Wholesale Club rose 9.1% after likewise delivering a bigger profit than expected. That may help calm worries about how resilient U.S. shoppers can remain, given high prices across the economy and still-high interest rates. A day earlier, Target tumbled after reporting sluggish sales in the latest quarter and giving a dour forecast for the holiday shopping season. It followed Walmart , which gave a much more encouraging outlook. Nearly 90% of the stocks in the S&P 500 were also rising, and the gains were even bigger among smaller companies. The Russell 2000 index of smaller stocks jumped a market-leading 1.9%. Google’s parent company, Alphabet, helped keep indexes in check. It fell 5.5% after U.S. regulators asked a judge to break up the tech giant by forcing it to sell its industry-leading Chrome web browser. In a 23-page document filed late Wednesday, the U.S. Department of Justice called for sweeping punishments that would include restrictions preventing Android from favoring its own search engine. Regulators stopped short of demanding Google sell Android but left the door open to it if the company’s oversight committee continues to see evidence of misconduct. Drops for other Big Tech stocks also weighed on the market, including a 2.4% slide for Amazon. In stock markets abroad, shares of India’s Adani Enterprises plunged 22.6% Thursday after the U.S. charged founder Gautam Adani, 62, in a federal indictment with securities fraud and conspiracy to commit securities and wire fraud. The businessman and one of the world’s richest people is accused of duping investors by concealing that his company’s huge solar energy project on the subcontinent was being facilitated by an alleged bribery scheme. Indexes elsewhere in Asia and Europe were mixed. In the crypto market, bitcoin eclipsed $99,000 for the first time before easing back to roughly $98,250, according to CoinDesk. It’s more than doubled so far this year, and its climb has accelerated since Election Day. President-elect Donald Trump has pledged to make the country “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. Bitcoin also got a boost after Gary Gensler, the chair of the Securities and Exchange Commission who has pushed for more protection for crypto investors, said he would step down in January . Bitcoin and related investments, of course, have a notorious history of big price swings in both directions. MicroStrategy, a company that's been raising cash expressly to buy bitcoin, saw an early gain of 14.6% for its stock on Thursday quickly disappear. It was most recently down 10.7%. In the oil market, a barrel of benchmark U.S. crude rose 2% to bring its gain for the week to 4.8%. Brent crude, the international standard, climbed 1.8%. Oil has been rising amid escalations in the Russia-Ukraine war. In the bond market, Treasury yields edged higher following some mixed reports on the U.S. economy. The yield on the 10-year Treasury rose to 4.43% from 4.41% late Wednesday. One report said fewer U.S. workers applied for unemployment benefits last week in the latest signal that the job market remains solid. Another report, though, said manufacturing in the mid-Atlantic region unexpectedly shrank. Sales of previously occupied homes, meanwhile, strengthened last month by more than expected. AP Business Writers Matt Ott and Yuri Kageyama contributed.