Tag Archives: economy

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …

Washington, US | XINHUA | Bilateral cooperation is the only right choice for the United States and China, experts from various countries have said. The two major countries in the world, which share extensive common interests, stand to gain from cooperation and lose from confrontation, they said. In a recent …

Tehran, Iran | XINHUA | Iranian President Hassan Rouhani said on Tuesday that enemies have waged “a psychological warfare” against the country to downplay its achievements, Tasnim news agency reported. One of the enemy’s main strategies in harming Iran’s economy, beside sanctions, is to “portray a poor image of the administration’s …

Kampala, Uganda | THE INDEPENDENT | Members of Parliament want some sectors of the economy still under lockdown to re-open. They argue that the sectors are prepared to meet the standard operating procedures and adhere to the COVID-19 guidelines. Ever since the economy was locked in March 2020, some sectors …

Kampala, Uganda | THE INDEPENDENT | Confidence in the country’s business activities surged in July with business owners experiencing more demand for their goods after the country lifted much of the coronavirus restrictions, a survey has said. The Purchasing Managers’ Index (PMI) published monthly by Stanbic bank recorded a 50.3 …

Washington, US | XINHUA | The U.S. economy saw the sharpest contraction in decades between April and June as the country grappled with the fallout of COVID-19 lockdowns, indicating the depth and severity of the pandemic-induced recession. The U.S. economy contracted at an annual rate of 32.9 percent in the …

Washington, US | XINHUA | U.S. President Donald Trump said on Thursday that he doesn’t want to delay the November election hours after raising the possibility on Twitter. “Do I want to see a date change? No,” Trump said during a press conference at the White House. “I don’t want …

Washington, US | XINHUA | U.S. President Donald Trump raised the possibility on Thursday of delaying the country’s presidential election in November, alleging that “universal mail-in voting” will make the 2020 election “the most inaccurate and fraudulent” in history. “It will be a great embarrassment to the USA,” he continued. …

Beijing, China | XINHUA | China’s recent acceleration in business reforms has helped the country become the top reformer among large economies, according to a report issued by the World Bank. Figures presented in the Doing Business 2020 report, the latest in a series of annual reports by the World …

Kampala, Uganda | THE INDEPENDENT | Uganda has received a USD 31.6m (116.7 billion shillings) loan from the African Development Fund (ADF) to help in the response to the coronavirus (COVID-19) pandemic. In a statement sent out on Sunday afternoon, the ADF, which is a concessional funding arm of the …