Business

THIS WEEK: Rise in orders gives hope to Uganda’s private sector Kampala, Uganda | THE INDEPENDENT | Uganda‘s private sector has continued to register an increase in both output and new orders for the seventh consecutive month during August. The latest Stanbic Bank’s Purchasing Managers’ Index (PMI), which is based …

THIS WEEK: EU to invest Shs420bn in SME’s Kampala, Uganda | THE INDEPENDENT | The European Union plans to invest over Shs 420 billion in small and medium enterprises that are environmentally friendly in the coming few years, according to the Union’s head of cooperation in Uganda, Cedric Merel. Merel, …

THIS WEEK: Kenya Airways now to fly to US Kenya | THE INDEPENDENT | Kenya’s national carrier, Kenya Airways, can now fly to the United States after it was granted permit to operate direct flights. The permit became effective Se 05, according to the order issued by the US Department …

THIS WEEK: URA moves to auction Nakumatt Supermarket goods over tax arrears Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority has commenced auctioning of Nakumatt Supermarket’s goods as it seeks to recover millions of shillings owed by the struggling regional retail chain. The clearance sales at two of Nakumatt’s …

Kampala, Uganda | JULIUS BUSINGE | Standard Chartered Bank and MTN Uganda Limited have signed an agreement to allow MTN Mobile Money collections for corporate and business clients directly into their bank accounts, officials said in a press release shared on Sept. 15. The new service is called Straight2Bank Wallet Collections …

San Francisco, United States | AFP | Google on Thursday fired off invitations to an October 4 event at which the US tech giant is expected to field a second-generation Pixel as its new champion in the competitive smartphone market. The internet giant behind Android software for powering mobile devices also …

Uganda Government issues Kanywataba petroleum exploration license to Armour Energy Limited Kampala, Uganda  | JULIUS BUSINGE | Uganda has handed over the petroleum exploration license in the Kanywataba block in the Albertine area to an Australian company – Armour Energy Limited. Speaking at a press conference at the Ministry of Energy offices in Kampala …

Tokyo, Japan | AFP | German carmaker Volkswagen is aiming to sell 1.5 million electric cars in China by 2025, its boss was quoted as saying Thursday, seeking to capitalise as Beijing mulls a clampdown on polluting vehicles. Speaking on the sidelines of the International Motor Show in Frankfurt, Chief Executive …

Ahmedabad, India | AFP | India’s first bullet train project, a $19-billion initiative linking Ahmedabad to Mumbai, was launched Thursday as Indian Prime Minister Narendra Modi and Japanese counterpart Shinzo Abe hailed fast-growing ties between Asia’s two biggest democracies. The project is seen as emblematic of warming relations between New Delhi …

Court advises Sudhir and BOU to talk or one of them risks losing the battle Kampala, Uganda | GODFREY SSALI | Head of the Commercial Court Judge David Wangutusi has advised Bank of Uganda (BOU) and businessman Sudhir Ruparelia to explore an amicable settlement of their differences or else one of them will be …