Business

Washington, United States | AFP | Developing countries are losing a key source of revenue as the coronavirus pandemic causes worldwide shutdowns, sharply reducing payments from workers living abroad, the World Bank said Wednesday. Remittances are expected to plunge by about 20 percent globally this year, the biggest decline in recent …

DR. Silver Mugisha is the Managing Director of National Water and Sewerage Corporation (NWSC). He spoke to The Independent about strategies NWSC is using to continue serving Ugandans despite the economic challenges created by the raging COVID-19 pandemic. QUESTION: How is NWSC coping with COVID-19 pandemic? ANSWER: It is a tough time that requires innovation and …

Kampala, Uganda | THE INDEPENDENT | Uganda has suspended the importation of second-hand clothes and shoes in what it says is a precautionary measure to prevent the spread of coronavirus. In a statement on Tuesday, Uganda National Bureau of Standards (UNBS) said “used footwear and used textiles that as a precautionary …

New York, United States | AFP | Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity. With space to store oil scarce, US benchmark West Texas Intermediate for May delivery ended …

Kampala, Uganda |  JULIUS BUSINGE  | In a bid to give some relief to its clients, PostBank has announced that it will reschedule loan repayments for customers whose lives and businesses have been impacted by COVID-19 pandemic, it announced a few days ago. This move comes as Bank of Uganda (BoU) continues …

Entebbe, Uganda |  THE INDEPENDENT |  The National Aviation Services, formerly Entebbe Handling Services (ENHAS) is laying off staff who have become redundant as a result of measures to combat the spread of Coronavirus Disease-COVID-19. One of the measures that have affected the ground handling company is the temporary suspension of …

Kampala, Uganda | THE INDEPENDENT | Uganda’s export earnings in the twelve months to February 2020 dropped by at least USD 1.1bn (27.2%), equivalent to 4.1 trillion shillings. According to the Bank of Uganda, this has worsened by the country’s trade deficit – a situation when a country’s imports exceed its …

  Kampala, Uganda | JULIUS BUSINGE | Xsabo Group through its corporate social responsibility arm, Xsabo Foundation has contributed Shs50million towards the fight against the spread of coronavirus pandemic in Uganda. The contribution was handed over to Prime Minister, Ruhakana Rugunda who also doubles as the Chairman of the National …

Kampala, Uganda | JULIUS BUSINGE | Simba Automotives, a subsidiary of Shumuk Group of Companies has donated three motorcycles and a motorcycle ambulance to the government of Uganda worth Shs50million towards the fight against the spread of coronavirus pandemic. The donation was received by the Minister of Health Dr. Jane …

Britain turns to Europe to save its crops London, United Kingdom | AFP | To save fields of asparagus and strawberries threatened with rotting, Britain is mobilising a workforce of students, the unemployed — and workers from Europe. Little more than two months after leaving the European Union, accompanied by …