Business

Nwoya, Uganda |  THE INDEPENDENT |  Farmers in Nwoya District have protested a decision by service providers to increase the cost of hiring tractors. With the onset of rainy seasons and national shutdown, there is an overwhelming demand for farm tractors by thousands of farmers in the district to plough crop …

Kampala, Uganda | Isaac Khisa | The African Export-Import Bank (Afreximbank) has released its audited financial statements for the year ended 31 December 2019, showing strong and consistent growth, with total comprehensive income of $324.2 million. The results, which reflected a net income of $313.3 million, 14.3 percent increase over the 2018 …

San Francisco, United States | AFP |  Uber said Thursday it planned to give out “tens of millions” of masks to drivers worldwide as part of its efforts to boost safety amid the coronavirus pandemic. The global ridesharing giant said it shipped its first order of masks to drivers in …

Kampala, Uganda | THE INDEPENDENT | Sellers of eggs in Kampala are stuck with hundreds of trays as the economy shut down due to coronavirus meaning key clients locally and abroad no longer buy. This has seen the price of a tray of eggs fall by at least 2000 shillings to …

Singapore, Singapore | AFP | Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets. US benchmark West Texas Intermediate plunged eight percent at the open in Asia but clawed back some ground and was trading …

  Kampala, Uganda | INDEPENDENT REPORTER | Pan-African lender, United Bank for Africa – Uganda has made a donation of Shs570million to the Uganda government as support towards the fight against the coronavirus (COVID-19) global pandemic. The donation was made to President, Yoweri Museveni, by the UBA Uganda Managing Director …

  Kampala, Uganda | ISAAC KHISA | International Air Ambulance (IAA) Healthcare, a leading Health Membership Organisation in Uganda has announced that it will not cater for medical bills for any of its clients infected with coronavirus. This follows declaration of the disease as pandemic by the World Health Organisation. …

London, UK | Several biggest industries across the whole globe have been affected on the first stage. The first sector was on tourism and air transportation. The flights got cancelled with rapid speed all over the world. Many airline companies declined and rescheduled flights to almost every single country. Once …

Kampala, Uganda | Isaac Khisa | Kenyan-based lenders, Commercial Bank of Africa and NC Bank, are expected to finalize their merger in the second quarter of this year subject to the regulatory approval. The two banks submitted their request to merge their operations to Bank of Uganda late last year. Releasing the …

Performance is attributed to increase in electricity demand, cost reduction Kampala, Uganda | JULIUS BUSINGE | Shareholders of power distributor, Umeme Limited will not go home with nothing in their Annual General Meeting slated later in the year as the company recorded a slight increase in net profit from Shs132bn …