Buenos Aires, Argentina | Xinhua | Argentina’s central bank on Monday increased the benchmark interest rate by 21 percentage points to 118 percent. The move aims to anchor exchange expectations and boost positive real returns on investments in local currency, among other purposes, according to the Central Bank of the …

Soroti, Uganda | THE INDEPENDENT | Members of Parliament from the Teso sub-region have called on the first son, Muhoozi Kainerugaba, to remind his father, President Yoweri Museveni, about the issue of cattle compensation in the region. In a memo delivered to Muhoozi at Soroti Sports Ground by the Soroti …

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance, Planning and Economic Development (Planning),  Amos Lugoloobi has said that the ministry did not play a part in pricing the Shs732,000 new digitised number plates. Lugoloobi also revealed that the ministry did not conduct due diligence on Global …

Johannesburg, South Africa | THE INDEPENDENT | Absa Group reported resilient results in an increasingly challenging operating environment during the first half of 2023. Headline earnings increased 2% to R11.2 billion from a high base a year earlier, as strong revenue growth of 16% offset 60% higher credit impairments. “With …

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker, Thomas Tayebwa has urged Members of Parliament to remain calm as the government continues to engage the World Bank on funding of new projects. The World Bank Group issued  a statement on 08 August 2023 suspending new public financing to Uganda …

Washington, US | Xinhua | U.S. Secretary of State Antony Blinken said Tuesday that the United States is still “very focused on diplomacy” as the tool to solve the ongoing political crisis in Niger resulting from an attempted coup by a junta. “We remain very focused on diplomacy for achieving …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has lowered the Central Bank Rate (CBR) to 9.5 percent, an indicator of its intention to bring down the cost of credit, for the first time since June 2021. The rate, which the Monetary Policy Committee uses to influence interest …

Kampala, Uganda | THE INDEPENDENT | The High Court in Kampala has dismissed an appeal in which YO! Uganda Limited, a Financial Technology company was seeking a temporary injunction restraining Uganda Revenue Authority from accessing,  reviewing or disclosing information contained in the electronic and manual records seized from the company premises …

Africa’s fashion industry is tapping an apparel market that will be worth US$69 billion in 2023, driven by a surge in women’s spending power, innovative design scene and production efficiency in textiles. SPECIAL REPORT  | BIRD AGENCY | Africa’s bright and dynamic fashion industry is finding itself if the spotlight, …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has assured the banking and financial industry that it will ensure its stability and the sustainability of the microeconomics of the country amidst the withdrawal of the World Bank from new loan deals. The World Bank decision communicated last week …