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Stanbic, ICBC expose oil and gas opportunities

Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank Uganda in collaboration with the Industrial and Commercial Bank of China Limited (ICBC) have hinted that Uganda’s economy is set to reap big from oil and gas activities. Speaking at an economic forum organised by the two banks for the Chinese business …

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US launches formal trade investigation into China

Washington, United States | AFP | The United States on Friday formally launched a trade investigation into China’s intellectual property practices and forced transfer of American technology, which President Donald Trump had called for this week. “On Monday, President Trump instructed me to look into Chinese laws, policies, and practices …

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Sudan’s Bashir aims to ease Egypt concerns over Nile dam

Khartoum, Sudan | AFP | Sudan’s President Omar al-Bashir said Thursday that the construction of Ethiopia’s controversial Grand Renaissance Dam on the Nile River would not impact water supplies to Egypt as feared by Cairo. Visiting Ethiopian Prime Minister Hailemariam Desalegn, for his part, said the project was a “win-win” for …

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Alibaba profit nearly doubles on robust revenues

Shanghai, China | AFP |Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of solid revenue growth in its core shopping business and in cloud computing. Alibaba, which has made billionaire founder Jack Ma one of China’s richest men and a …

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VIDEO: Companies in Trouble over Increasing Cyber Threat

VIDEO: Companies in Trouble over Increasing Cyber Threat Kampala, Uganda | NBS TV | Financial institutions, public institutions and security organs are being advised to carryout daily audit of their systems in the wake of cyber threats. The Permanent Secretary in the Ministry of ICT, Vicente Bagire says the increasing technological …

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NTV confirms Aggie Konde’s departure

NTV confirms Aggie Konde’s departure Kampala, Uganda | THE INDEPENDENT | Nation Media Group CEO Joe Muganda has today confirmed that NTV Managing Director Aggie Asiimwe Konde is moving to Msingi East Africa. Briefing staff of  Africa Broadcasting Uganda LTD. (NTV/SPARK TV) Thursday morning, Muganda confirmed Konde had got a great offer in …

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BOU asked to present documents related to purchase of pens

Kampala, Uganda | GODFREY SSALI | The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has asked Bank of Uganda (BOU) to submit procurement papers for its golden jubilee celebrations held in August last year for scrutiny. The central bank officials led by the deputy governor Louis Kasekende for …

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