Thursday , November 14 2024

Business

Business news

Uganda exports locally made phones to Morocco

Kampala, Uganda | THE INDEPENDENT | Uganda’s first information and communications technology manufacturing and assembling factory, Simi technologies has this morning sent the first batch of 18,000 locally made phones to Morocco. Located in Namanve industrial park, Simi technologies owned by Chinese Electronics firm ENGO Holdings Uganda Limited exported smartphones and …

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UCU suspends duties, won’t pay salaries from June 1

Kampala, Uganda |  THE INDEPENDENT |   Uganda Christian University will only manage to pay three quarters (75 per cent) of each staff’s salary for May 2020 and will suspend all their duties from June 1. This affects both contract and full-time staff. In a note to staff on Friday, UCU vice-chancellor …

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Stocks retreat as virus fears temper lockdown easing

London, United Kingdom | AFP | Stock markets mostly slipped Thursday after rallying for much of the week amid concerns over the long-term impact of the virus and worsening China-US relations. On Wall Street, the Dow Jones index slipped into negative territory at the opening bell, while in Europe, Frankfurt and …

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Equities rally on hopes for economic rebound

London, United Kingdom | AFP | Stock markets picked up Wednesday on hopes for a strong US economic rebound even though retailers reported mixed results and US-China tensions continued to mount. Equities have enjoyed a broad advance for several weeks as virus infection and death rates slow, allowing governments to lift …

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Human Rights activists petition Court over NSSF relief

Kampala, Uganda  | GODFREY SSALI | Uganda’s Constitutional Court has given National Social Security Fund (NSSF) and the Attorney General of Government 10 days within which to respond to a petition filed by a Human Rights Activist Morris Rwakakamba. Rwakakamba who filed the petition in public interest, wants an interpretation of …

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Traders ask for interest free loans for businesses

Kampala, Uganda | THE INDEPENDENT | Traders in Kampala have asked the government to lobby for free interest loans for their businesses that were affected by the outbreak of COVID-19. In March, President Museveni issued several measures to combat the spread of the virus. They included restrictions on the movement of …

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