Business

Paris, France | AFP | Billionaire French industrialist Vincent Bollore is being questioned in Paris over allegations that his conglomerate used corrupt connections in Africa to win port contracts. Founded in 1822, the Bollore Group, which is majority owned by the Bollore family, has diverse interests ranging from logistics and energy …

Washington, United States | AFP | Twitter reported its second consecutive quarterly profit Wednesday in a positive sign for the short messaging service after years in the red. The San Francisco-based social network earned $61 million in the first three months of the year, boosted by strong growth in advertising revenue …

Jinja, Uganda | THE INDEPENDENT | A ground breaking ceremony has taken place today to kick start the reconstruction of the Uganda Hotel Tourism and Training Institute (UHTTI) also known as the Crested Crane Hotel in Jinja. The re-development of Uganda Hotel and Tourism Training Institute is, according to officials, …

Kampala, Uganda | JULIUS BUSINGE | Tony Elumelu is the founder of The Tony Elumelu Foundation, which is currently running a 10 year –The Tony Elumelu Entrepreneurship Programme–worth US$100 million. The Independent’s Julius Businge captured some of the responses to the key issues raised during a public lecture on Africapitalism …

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 …