Business

Washington, United States | AFP | Crude oil prices are expected to jump 23 percent this year amid strong economic growth, while metals prices are rising, hit by ongoing trade tensions, the World Bank said Tuesday. The World Bank raised its forecast for oil prices to an average of $65 a …

Paris, France | AFP | South Africa is set for a steep decline in wine production in 2018 as the country grapples with a water crisis ravaging Cape Town and surrounding areas, a Paris-based global organisation said Tuesday. Africa’s top wine producer is set to produce 8.6 million hectolitres of wine …

Kampala, Uganda  | THE INDEPENDENT | The Minister of State for Planning David Bahati has confirmed several radical tax proposals and amendments to the Income tax Bills, including increase excise duty on diesel and petrol by Sh100 for a litre  to generate Sh196.4 billion. Another key new tax proposal is …

  Paris, France | AFP | Billionaire French tycoon Vincent Bollore was detained Tuesday as part of a corruption investigation involving his group’s acquisition of contracts to operate ports in West Africa, legal sources told AFP. The 66-year-old head of the Bollore Group, was taken into custody in the Paris suburb …

Kampala, Uganda | THE INDEPENDENT | Barclays Bank Uganda has recorded an impressive performance for the year ended Dec 2017, with a 30% growth in net profit to Shs72bn amidst a surge in the Non-Performing Loans. The financial results released on April 16 shows that the growth in profits was driven …

Study shows sector is worse off today than it was eight years ago Kampala, Uganda | JULIUS BUSINGE | How has the Uganda’s Industrial Policy performed since it came into existence 10 years ago? Is it at par with the changing socio-economic issues? Will it be redesigned in such a …

Kampala, Uganda | THE INDEPENDENT | Uganda’s leading Pay TV operators have protest against a 2,400% increase in the annual license fees payable to Uganda Communications Commission (UCC). In a joint statement, they also refuted statements in a recent advert by UCC that said all Pay TV operators have not …

New York, US | THE INDEPENDENT | The Bloomberg Billionaire Index is a daily ranking of the world’s richest people. The index tracks the net worth of the 500 wealthiest people on the planet. In a world with booming entrepreneurship stories, success is often measured by the value one has …

Uganda participates in the Berlin Energy Transition dialogue 2018 Berlin, Germany | THE INDEPENDENT | Energy and Mineral Development Minister Irene Muloni has called on potential investors from Germany to consider investing in Uganda’s well-regulated and highly liberalized economy. Muloni told investors that Uganda had now overcome the supply side and …

Kampala, Uganda | THE INDEPENDENT | Bank of Africa’s Managing Director, Arthur Isiko, has tipped Small and Medium Enterprises (SMEs) on access to finance as a key aspect for business growth. Isiko was speaking at a business forum hosted by the Bank at Tick Hotel in Kawempe, a Kampala suburb on …