Business

Uganda’s Constitutional Court has issued an interim order stopping parliament from debating,  investigating or inquiring into the presidential hand shake, until a main petition filed against the Attorney General is heard and disposed of. Deputy Chief Justice Steven Kavuma on Monday granted the application filed by Eric Sabiiti the Senior …

BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …

Business captains punch holes in Bank of Uganda projections Uganda’s economy is expected to pick up steam this year, boosted by public infrastructure spending and easing of the monetary policy to stimulate economic growth. At least that is the view of Bank of Uganda Governor Emmanuel Mutebile. Mutebile spewed his …

The Minister of Finance Matia Kasaija (Pictured) has signed a $150million loan from the African Development Bank towards the construction of the Busega-Mpigi 4-Lane expressway. The project will involve construction of 4 major interchanges to facilitate interconnection with roads at designated locations including Nabbingo, Nsangi, Maya and Lungala, construction of …

Uganda Revenue Authority has explained the circumstances under which several government officials were rewarded for helping win the 2014 capital gains tax case against UK based oil company Heritage. “It is standard international best practice for employees to receive bonus payments/ or honoraria for exemplary performance in both the public …

Frankfurt am Main, Germany | AFP | The euro, used by nearly 340 million people each day, celebrates its 15th birthday on Sunday. Like a teenager in the throes of adolescence, the euro has lurched from crisis to crisis in recent years, but still manages to enjoy firm support across …

Mumbai, India | AFP | Indians rushed to change their bank notes Friday before a deadline to deposit invalid rupee notes closed, as Prime Minister Modi defended his controversial move to reduce cash in use. His shock November 8 announcement rendered 86 percent of India’s currency void, giving customers until …

Kasaija warns UNRA against delayed works as government signs a $151million loan for the construction of Busega-Mpigi highway Uganda has signed a sh545billion ($151 million) loan from the African Development Bank (AfDB) to help finance the construction of a four-lane 23.7 kilometer Busega-Mpigi expressway. The AfDB earlier this year approved $245 million …

Washington, United States | AFP | Handing out multibillion-dollar fines right and left to domestic and foreign financial giants, the United States has taken on the role of the unforgiving global cop of the business world. In stark contrast to the relative inertia of white-collar law enforcement in Europe, Washington …

Luanda, Angola | AFP |  Angolan President Jose Eduardo dos Santos’s daughter, reportedly Africa’s richest woman, has been cleared to head the national oil company Sonangol, after a court rejected a legal challenge. Isabel dos Santos was put in charge of Sonangol in June in a move some analysts said …