Business

Kampala, Uganda | JULIUS BUSINGE | Uganda Revenue Authority must install big scanners at all entry and exit points to boost revenue collection, according President Yoweri Museveni. President Museveni, who was speaking during the recently concluded symposium dubbed ‘first science model workshop’ organised by URA in partnership with the African Tax …

Kampala, Uganda | THE INDEPENDENT | Uganda loses between 30 and 39 percent of revenues that should be collected through Value Added Tax (VAT). This is contained in a research paper titled “The Value Added Tax Gap Analysis for Uganda” authored by Economic Policy Research Centre (EPRC) researchers Corti Paul Lakuma …

Kampala, Uganda | THE INDEPENDENT | The Deputy Resident District Commissioner Kiruhura has ordered police to crack down on illegal money lenders. The order stems from increasing complaints in which many borrowers continue to lose property to illegal money lenders. The directive comes barely a day after a team from the …

Maputo, Mozambique | AFP | Lawyers in Mozambique are suing US fossil fuel giant Anadarko to block its planned $20 billion gas project, arguing the land was illegally taken from locals, according to a statement published Friday. Anadarko is one of the global companies investing billions of dollars to exploit …

Politicians have been accused of frustrating operations against illegal fishing on Lake Victoria. Kampala, Uganda | THE INDEPENDENT | The commander of UPDF- Fisheries Protection Unit in the districts of Jinja, Kamuli, Mayuge, Buyende and Bugiri, Lt. Ronald Akandwanaho says that ever since Members of Parliament raised concerns of alleged torture …

Kampala, Uganda | THE INDEPENDENT | The Minister of Trade, Industry and Cooperatives, Amelia Kyambadde has urged pharmaceutical industries in Uganda to work towards increasing the size of the local market that they serve. Kyambadde who visited Kampala Pharmaceutical Industrial Ltd on Thursday evening as part of ministerial tour to mark …

Kampala, Uganda | THE INDEPENDENT | Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has cited possibility of conflict of interest in the sale of Global Trust Bank to DFCU. The committee in Friday continued its investigation into a decision by Bank of Uganda (BoU) to sale the Bank …

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 …