Business

London, United Kingdom | AFP | Rolls-Royce powered back into profit during the first half, propelled by strong deliveries for its Trent aircraft engines, lifting its share price almost ten percent Tuesday. Net profit stood at £1.58 billion ($2.1 billion, 1.77 billion euros) in the six months to June 30 compared …

Land probe: Key government file goes missing at Uganda Land Commission Kampala, Uganda | JULIUS BUSINGE |   The Chairman of the Uganda Land Commission Baguma Isoke has this afternoon told the ongoing Commission of Inquiry into land matters that a file containing lease documents for government property in Jinja has gone missing. …

Hoedspruit, South Africa | AFP |  It was a hard-fought victory for South Africa’s black community seeking to reclaim land, and for the Moletele ethnic group it has become a surprising model of wider racial cooperation. After a 10-year legal battle, the Moletele have taken back the land from which …

Johannesburg, South Africa | AFP | One of South Africa’s largest retailers Pick n Pay on Monday said it had cut around 3,500 jobs — 10 percent of its workforce — in a bid to curb costs in an economy battling a recession. “The voluntary severance programme is one of several …

Kampala, Uganda | GODFREY SSALI |  The Deputy Speaker Jacob Oulanyah has halted a proposed parliament investigation of Bank of Uganda (BOU) in relation to circumstances leading to the closure of Crane Bank. He cited  sub judice. Oulanyah made his ruling Tuesday afternoon after Budadiri East MP Nathan Nandala Mafabi …

Uganda participaes in Astana EXPO 2017, takes trade potential to central Asia Kampala, Uganda | THE INDEPENDENT | Uganda last week showcased her business, tourism and national achievements at the ongoing Astana EXPO2017 in Kazakhstan. The highlights of the Uganda day on July 24th 2017 included a press conference, a presentation …

Kampala, Uganda| THE INDEPENDENT | The Minister of Foreign Affairs Sam Kuteesa on Tuesday August 1, 2017 met the visiting Serbian State Secretary Nemanja Steavnovic at the Ministry of Foreign Affairs headquarters in Kampala. The purpose of his visit is to deliver a message to President Yoweri Museveni from the new …

If it looks so gloomy, why is everyone seeing it as bright? KAMPALA, UGANDA | JULIUS BUSINGE | The banking industry in Uganda appears to be facing an uncertain future. Most banks are recording a mixture of good and bad performance, sluggish growth in private sector credit, rising non- performing …

Surplus expected to eat into the producer’s profitability KAMPALA, UGANDA|ISAAC KHISA| The cement industry in Uganda could be headed for tough times as firms increase production capacity next year beyond the available demand. Lafarge Group’s Hima Cement is setting up a new plant in Tororo, eastern Uganda, with capacity of …

Madrid, Spain | AFP |  Real Madrid forward Cristiano Ronaldo denied hiding millions of euros in income at a court hearing near the Spanish capital on Monday where he was charged with tax evasion. The Portuguese — the world’s highest paid sportsman according to Forbes magazine — is the latest …