Business

The banking industry projects to record drop in net profits Kampala, Uganda | ISAAC KHISA and JULIUS BUSINGE  | Dfcu’s net profit has more than quadrupled to Shs114.05bn during the six months ending June 30 compared to Shs23.3bn recorded last year following acquisition of part of Crane Bank assets in …

Dandong, CHINA | AFP | Traders from North Korea visit Yuan Huan’s shop in the Chinese border city of Dandong several times a month to place orders, bringing their own translators and wads of cash. Yuan, manager of Sangle Solar Power, said sales to North Koreans have soared in the past …

Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank Uganda in collaboration with the Industrial and Commercial Bank of China Limited (ICBC) have hinted that Uganda’s economy is set to reap big from oil and gas activities. Speaking at an economic forum organised by the two banks for the Chinese business …

Washington, United States | AFP | The United States on Friday formally launched a trade investigation into China’s intellectual property practices and forced transfer of American technology, which President Donald Trump had called for this week. “On Monday, President Trump instructed me to look into Chinese laws, policies, and practices …

Khartoum, Sudan | AFP | Sudan’s President Omar al-Bashir said Thursday that the construction of Ethiopia’s controversial Grand Renaissance Dam on the Nile River would not impact water supplies to Egypt as feared by Cairo. Visiting Ethiopian Prime Minister Hailemariam Desalegn, for his part, said the project was a “win-win” for …

Shanghai, China | AFP |Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of solid revenue growth in its core shopping business and in cloud computing. Alibaba, which has made billionaire founder Jack Ma one of China’s richest men and a …

VIDEO: Ugandan exporters to engage Gulf importers to increase exports Kampala, Uganda | NTV UGANDA | In an effort to grow the value of exports to the United Arab Emirates from the current 83 million, Uganda exporters will engage Gulf importers in Dubai in an expo and convention scheduled for October …

VIDEO: Companies in Trouble over Increasing Cyber Threat Kampala, Uganda | NBS TV | Financial institutions, public institutions and security organs are being advised to carryout daily audit of their systems in the wake of cyber threats. The Permanent Secretary in the Ministry of ICT, Vicente Bagire says the increasing technological …

NTV confirms Aggie Konde’s departure Kampala, Uganda | THE INDEPENDENT | Nation Media Group CEO Joe Muganda has today confirmed that NTV Managing Director Aggie Asiimwe Konde is moving to Msingi East Africa. Briefing staff of  Africa Broadcasting Uganda LTD. (NTV/SPARK TV) Thursday morning, Muganda confirmed Konde had got a great offer in …

Marikana, South Africa | AFP | At the site of the 2012 Marikana massacre where police shot dead 34 strikers, thousands of South African miners sang remembrance songs Wednesday as campaigners demanded prosecutions and compensation. The 34 miners were gunned down after police were deployed to break up a wildcat strike …