Business

It was a confrontational scene in parliament as MPs reacted angrily to officials from Ministry of Finance who refused to incorporate proposals and recommendations made by MPs on the budgeting process. Members of the Budget Committee led by Chairman Amos Lugoloobi lashed out at the officials who included Minister of …

Minister for Trade and Industry Amelia Kyambadde has backed Chinese businessman in the country who are under fire for being involved in petty trade. Kyambadde told MPs there is no provision in the law excluding foreigners from carrying out trade in the country. She told the parliamentary committee on trade …

Whoever breached the law in the six billion shilling oil cash payout must face the law – Museveni The chairperson of Uganda’s  parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE)  Abdu Katuntu has said President Yoweri Museveni wants the solicitor General to account for sh5.6 billion supposed to have …

Washington, United States | AFP |  The North American Free Trade Agreement (NAFTA) is a 23-year-old pact has boosted trade among Canada, Mexico and the United States. It might now be renegotiated the White House said Wednesday, after Canada and Mexico agreed to do so “swiftly.” US President Donald Trump …

Bank of Africa Uganda Limited has launched a small and medium enterprises (SMEs) scheme to help small business access finance. The scheme  provides for a variety of products like unsecured bid guarantee of up to sh200 million, unsecured invoice discounting facility of up to sh200 million and asset finance loan …

Chicago, United States | AFP |  United Airlines on Thursday announced it will offer bumped passengers up to $10,000 in compensation and reduce overbooking following the dragging incident on board one of its flights that caused worldwide outrage. Those and other changes, which the airline called “substantial,” are the result …

Minister of Trade, Industry and Cooperatives Amelia Kyambadde has said cabinet has constituted a sub-committee to look into and address the fact that there is no law that prevents foreigners from engaging in petty trade in Uganda. The sub-committee has finalized its main task which was to come up with a national policy …

New York, United States | AFP | Coca-Cola plans to cut 1,200 jobs as it deepens its cost-cutting initiatives in response to sluggish soda sales, the company said Tuesday. The maker of Sprite and Fanta announced the job cuts as it reported lower second-quarter profits due to restructuring costs and flat …

.@MuhtarKent says Q1 “in line with plan”; $KO on track to deliver underlying revenue, profit targets for full year https://t.co/32Rr2HeCWI pic.twitter.com/lhjbsylaDs — The Coca-Cola Co. (@CocaColaCo) April 25, 2017 New York, United States | AFP | Coca-Cola reported lower earnings Tuesday on restructuring costs and flat volumes as it touts new …

Mubaraka Nkuutu Kirunda has been acting as the executive director at Uganda Manufacturers Association (UMA) for about four months. He spoke to The Independent’s Julius Businge about the prospects of Uganda’s manufacturing sector. Manufacturing is among sectors that experienced negligible growth in the first half of this financial year (the …