Business

San Francisco, United States | AFP | Facebook said Friday it would add $9 billion to its stock buyback program, which could scoop up shares pummeled over the past few months by privacy scandals and a slump on Wall Street. In a regulatory filing, the leading social network said it …

Vancouver, Canada | AFP | Chinese telecom giant Huawei’s chief financial officer faces US fraud charges related to sanctions-breaking business dealings with Iran, a Canadian court heard Friday, a week after she was detained on an American extradition request. Meng Wanzhou, 46, was arrested in Canada’s Pacific coast city of …

Vienna, Austria | AFP | OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls in prices in recent months. Energy ministers reached the deal — which takes effect from January 1 but …

Rome, Italy | AFP | Italy’s competition authority has fined Facebook 10 million euros ($11.3 million) for selling users’ data without informing them and “aggressively” discouraging users from trying to limit how the company shares their data. Facebook “misleadingly gets people to sign up… without informing them in an immediate …

Kampala, Uganda | IAN KATUSIIME | A total of 41 acres have been acquired by Uganda National Roads Authority (UNRA) in the expansion of Kampala Northern Bypass. According to the design of the bypass, UNRA is set to acquire 54 acres in total. During an inspection tour of the 21km bypass …

Kampala, Uganda | THE INDEPENDENT | Electrical Controls and Switchgear (ECS) limited, a local company that has ventured into manufacturing transformers has called for government assistance in penetrating the market. James Kalibbala, the managing director of ECS says they ventured into manufacturing of transformers last year, however, they have so far …

Kampala, Uganda | THE INDEPENDENT | Kilembe Investments Limited-KIL has defied court orders restraining them from holding their Annual General Meeting. KIL held the Eighteenth Annual General Meeting on Thursday at Virina Gardens in Kasese town. Two shareholders were also voted to positions of directors of the board of the power …

New York, United States | AFP | Hong Kong’s former home affairs secretary Patrick Ho Chi Ping was convicted by a New York court Wednesday over a multimillion dollar bribery scheme in Africa on behalf of a top Chinese energy company. Ho, 69, was convicted by a jury of seven …

Kampala, Uganda | THE INDEPENDENT | A group of 300 small holder farmers in Gulu district is stuck with a rice huller despite the bumper harvest due to lack of electricity. It is now three months since Latyeng Farmer Group in Laliya Sub County, about 10 Kilometers North of Gulu Town …

Kasese, Uganda | THE INDEPENDENT | Nsenyi Primary School in Kasese has become a functional nutrition hub, three years after it embraced the SNV Sustainable Nutrition for All (SN4A) project in 2015. With its newly acquired status, the pilot school has now become a demonstration site where community members come for …