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Could cryptocurrency dethrone the US dollar?

London, United Kingdom | AFP | Bank of England governor Mark Carney has suggested that a virtual currency, modelled on Facebook’s Libra, could one day replace the dollar as king of the foreign exchange market. The BoE chief aired vague proposals for a so-called “Synthetic Hegemonic Currency” at the recent …

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GOVT: Tullow Oil must pay all taxes due

Government, Total respond as Tullow’s $900M deal flops Kampala, Uganda | THE INDEPENDENT | Uganda’s Energy Ministry has stressed that Tullow must pay Capital Gains tax before it can be allowed to sell part of its stake to Total and CNOOC Uganda.  Tullow confirmed earlier Thursday that their Sale and Purchase …

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TOTAL committed to Uganda despite Tullow blow

Paris, France | THE INDEPENDENT |  Oil giants Total have re-affirmed their commitment to progressing the development of the Lake Albert oil resources, despite their Sale and Purchase Agreement (SPAs) with Tullow collapsing today. Tullow Oil plc announced earlier that it has been informed that its farm-down to Total and CNOOC will …

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dfcu driving commodity finance

Godfrey Mundua is dfcu bank’s head of corporate banking that handles one big segment in the institution called commodity financing. He spoke to The Independent’s Julius Businge about the opportunities this line of credit is offering. What is commodity structured finance all about? Structured commodity finance is a specialised way …

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Pension sector assets hit Shs 11.6trillion

Only 14% of the country’s working population has some sort of retirement benefit scheme Kampala, Uganda | JULIUS BUSINGE | Uganda’s pension sector continues to register growth amidst the bickering over the proposed changes to the National Social Security Fund Act. Latest statistics from the industry regulator, Uganda Retirement Benefits …

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Tomato suppliers in protest against exploitation by middlemen

Kampala, Uganda | THE INDEPENDENT | Tomato suppliers in Gulu district are protesting exploitation by middlemen. The tomato suppliers mainly from Bweyale in Kiryandongo district and Wobulenzi in Luweero district, says the middlemen from Cereleno and Gulu main market are lowering the prices of tomatoes, something that is making the incur …

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