Business

Ugandan traders reacted with glee when parliament inserted a clause in the Income Tax Amendment Bill prohibiting charging of rent in dollars. The clause stipulates that all agreements on rent shall be executed and effected in no other currency other than Ugandan shillings. This was the result of persistent complaints …

Beijing, China | AFP |  Slapping import bans on products like mangoes, coal and salmon has long been China’s way of punishing countries that refuse to toe its political line. But Beijing has shown that it can also hurt others by cutting a lucrative Chinese export: tourists who normally flock …

Uganda’s President Yoweri Museveni has taken over chairmanship of the  East African Community (EAC) from Tanzania’s  John Pole Magufuli with a promise to harmonize the region’s vision on the EU-EAC Economic Partnership Agreement (EPA) “I failed to find a solution for EAC EU trade deal but I am optimistic President Museveni will …

GE signs $15 bn of Saudi deals, MoUs during Trump visit Riyadh, Saudi Arabia | AFP | Washington has agreed arms deals with Saudi Arabia worth almost $110 billion, a White House official said Saturday, the first day of President Donald Trump’s visit to the traditional US ally. “This package of …

San Francisco, United States | AFP |  Uber is expanding into a new field with a version of its on-demand ride application that lets truckers book cargo hauls with simple taps on smartphones. Uber Freight rolling out in the US was touted by the company as an app that matches …

Arusha, Tanzania | JUMUIYA| The 18th Ordinary East African Community (EAC) Heads of State Summit has been set for May 20, 2017, in Dar es Salaam, Tanzania.Top on the agenda is the consideration of EU-EAC Economic Partnership Agreement (EPA) and Sustainable Financing Mechanism for the Community. The Summit will also consider …

Uganda’s leading telecom company MTN prepared Thursday morning for Friday’s deadline of SIM-Card registration, by deactivating numbers that have not yet been verified. MTN called it a “soft deactivation”, that was lifted at midday. “This is a soft suspension, dial *197*3#ok to submit your NIN, however,your SIM will be activated at …

The Kampala High Court’s Execution Division has ordered the attachment of 26 buses belonging to Pioneer Easy Bus Company for failure to clear a 2013 debt of over Shs152 million. The order to attach the Buses has been issued by the Court’s Deputy Registrar Muse Musimbi to bailiffs from Libra …

The Uganda Revenue Authority (URA) has recorded a shortfall of Shs 240bn in the first three quarters of FY 2016/2017 amidst a tough economic environment. As a sign of the times, the International Monetary Fund (IMF) this week revised GDP growth for Uganda for FY2016/17 to 3.5% from government projections …

South Africa President Jacob Zuma has said that last year’s 8% increase in international tourist arrivals in Africa indicates the immense potential for further growth in the continent’s tourism sector. “Africa enjoyed an eight percent increase in international tourist arrivals to reach 58 million arrivals. This means that Africa is …