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WTO estimates 18.5-pct decline of global trade in Q2

Kampala, Uganda | XINHUA | The volume of global merchandise trade would shrink by around 18.5 percent year-on-year in the second quarter of this year, the World Trade Organization (WTO) said Tuesday. “The fall in trade we are now seeing is historically large — in fact, it would be the steepest …

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NWSC faults road contractors for exposing sewer lines

Jinja, Uganda |  THE INDEPENDENT |  The National Water and Sewerage Corporation-NWSC has faulted road contractors for failing to repair sewerage lines and damaged water pipes destroyed during their course of duty.  Agnes Atwooki, the NSWC Jinja area Principal Public Relations Officer told URN that Jinja, one of the country’s oldest …

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Banks restructure loans worth UGX 2 trillion

Kampala, Uganda |  THE INDEPENDENT |  The Uganda Bankers’ Association has said that commercial banks have restructured loans to a tune of 2.02 trillion Shillings as a result of the effects of the COVID-19 lockdown on businesses. According to the Association’s Executive Director Wilbrod Owor, in the first month of restructuring, …

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New US layoffs show mixed impact of small business loans

New York, United States | AFP |  Faced with then near-complete shutdown of travel, and a devastating hit to its business from the coronavirus, Arrangements Abroad mobilized to secure a $597,000 loan under the Paycheck Protection Program. The funds allowed the New York company to pay salaries for a couple of …

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