Business

Beijing, China | AFP |  Chinese state-run media lauded Donald Trump Tuesday after a phone call between him and President Xi Jinping, saying that the president-elect’s emergence could mark a “reshaping” of Sino-American relations. The pair spoke Monday, when Xi said that the two powers needed to co-operate and Trump’s …

Nakumatt: Unstable US$150m debt sends jitters among retail supermarket suppliers Business at Nakumatt supermarkets in Uganda has been slowly declining for months but recent persistent reports that all is not well at the parent company of the Kenya-based regional retail giant may have made a bad situation worse. The Nakumatt …

Single Electronic Window: The new system will see a 30% reduction in transaction costs for the private sector Uganda Revenue Authority (URA) has launched the Uganda Single Electronic Window system. The new system will see a 30% reduction in transaction costs for the private sector, writes Juddie Kilungu. It will also …

The National Social Security Fund has bought more shares in power distributor Umeme, increasing its stake from 14% to 23 %. NSSF boss Richard Byarugaba said Fund’s decision was in line with “our statutory mandate to invest NSSF members savings for high returns.” He said the Fund has reached an …

Samuel Odeke is the Chief Executive Officer of Commercial Bank of Africa (CBA). He spoke to The Independent’s Ian Katusiime about CBA’s plans and other issues in the banking sector. What inspires your management philosophy? I believe management is typically an art not a systematic way of doing things. It …

What happens after `minnow’ swallows former giant of Uganda’s insurance sector? When regional insurance firm Lion Assurance Company (LAC) confirmed plans to take-over agents and business formerly under the American International Group (AIG), the first question was “how?” AIG-Uganda has been the third leading insurance company by assets in Uganda, …

Washington, United States | AFP |  US law does not forbid Donald Trump from managing his corporate empire from the White House, according to one of his top advisors, who counseled nevertheless that the billionaire’s businesses be run by his adult children. Rudy Giuliani, a former mayor of New York …

Johannesburg, South Africa | AFP | The head of South Africa’s state-owned power company Eskom has announced his resignation in a corruption scandal that has embroiled President Jacob Zuma. Brian Molefe became the first person to step down after a report released last week raised allegations of corrupt links between …

VIDEO: Government of Uganda has lifted the ban on ‘exportation’ of labor to Middle East countries which were imposed after various complaints of sexual harassment and torture. According to the Minister of gender, labor and social development Janat Mukwaya, the agreement will include fully paid-up insurance and assurance fee of 50,000,000 from …

The economy isn’t in such a bad shape as earlier thought, the International Monetary Fund (IMF) has said in its latest assessment. Speaking at the conclusion of a two-week’s 7th review of Uganda’s economic programme under the Policy Support Instrument (PSI), Axel Schimmelpfennig, the IMF Mission chief, said the country’s prospects …