Business

Bank of Uganda has confirmed that it has transferred the assets of Crane Bank to DFCU Bank. “In exercise of its powers as Receiver, under Sec 95(1)(b) of FIA, BoU has now transferred the liabilities (incl deposits) of CB to DFCU Bank,” Bank Governor Emmanuel Tumusiime-Mutebile told the press in …

Washington, United States | AFP | US-Mexican relations were rocked Thursday as Donald Trump’s administration suggested taxing imports from the southern neighbor to fund a border wall and Mexico’s president scrapped a meeting with the US leader. Trump had been scheduled to receive Pena Nieto at the White House on …

Uganda today marks 31 years since the NRM/NRA took over power. The day’s celebrations have been held in Masindi, western Uganda. The theme for the national celebrations was ‘Uganda’s success story under NRM leadership, a shared victory’. President Yoweri Museveni emphasized five key areas government is now focusing on: Government will focus …

New York, United States | AFP |  The Dow Jones Industrial Average, the most famous equity index benchmark on Wall Street shot above 20,000 for the first time at the open Wednesday. The blue-chip stocks index quickly blew through the much-anticipated milestone in the opening seconds of trading, culminating a …

The South African company is projected to boost the country’s insurance penetration that now standing at 0.86%, the lowest in the region Low income earners, who often forgo insurance due to the expense, now have an affordable option that they could consider. South Africa-based insurance company, Metropolitan & Momentum International …

Washington, United States | AFP | President Donald Trump’s first moves on trade have cast a pall over US trade relations and could hurt US businesses, trade experts say. Trump has begun his term by pulling out of one major agreement, vowing to renegotiate or exit another, and threatening to …

Private sector say government proposal to increase domestic borrowing from Shs1.3trillion to Shs1.4 trillion will deny them of cheap financing during the year Uganda has once again released its budget proposal for the next financial year, raising government spending 15% to Shs30.2trillion in the fiscal year from July, with bulk …

Gilbert Wavamunno is the sales director of Spear Motors Limited. He spoke to The Independent’s Agnes E Nantaba on the status of the country’s automobile dealership business. What encompasses your management philosophy? Management is all about who is responsible for what in a company. It is very hard for a …

ATC News by Wolfgang H. Thome Kenya will become the first country in Africa to receive brand new long- distance passenger trains in February this year. The five passenger locomotives are part of the 56 locomotives expected in the country prior to the launch of the Standard Gauge Railway (SGR) …

Parliament to investigate “sh6 billion golden presidential handshake” Parliament on Wednesday agreed to set up a select committee to look into what has been referred to as the “Golden Presidential handshake” that cost tax payers sh6 billion. The bonus was paid out to a team of 42 selected government officials …