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 …
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Shanghai, China | AFP | China Construction Bank, one of the country’s “big four” financial institutions, reported a moderate first-half profit rise and improving asset quality as a government crackdown on bad debt kicked in. The bank’s earnings were posted Wednesday night, hours after China’s three other big state-owned lenders announced …
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Hanoi, Vietnam | AFP | A former banking magnate and 50 others went on trial in Vietnam Monday over a multi-million dollar fraud at a major private bank, as the communist nation cracks down on corruption in the sector. Authorities have vowed to clean up an industry plagued by favouritism …
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Kampala, Uganda | GODFREY SSALI | A concerned citizen on Wednesday petitioned the office of the Inspector General of Government (IGG) asking for investigations into the wealth of a Bank of Uganda (BOU) official. Denis Nyombi a lawyer from Denis Nyombi & Co. Advocates said he is seeking the IGG’s …
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Kampala, Uganda | JULIUS BUSINGE | dfcu Bank has posted Shs 114 bn for the first half of this year up from Shs 23bn in the same period last year, according to its interim consolidated financial results released August 15, 2017. According to a notice issued on Tuesday, top management attributed …
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Court appoints an arbitor in BOU, Sudhir Crane Bank case Kampala, Uganda | GODFREY SSALI | The Commercial Court has appointed city advocate Harriet Magala from Kituuma -Magala and company advocates to mediate in the case between Bank of Uganda and tycoon Sudhir Ruparelia over Crane Bank. Judiciary spokesperson also the …
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Kampala, Uganda | GODFREY SSALI | The Commercial Court has summoned DFCU bank to file a defence within 15 days explaining why it has refused to pay debts that were incurred by the now closed Crane Bank. This follows a suit filed by an advertising company Premier Advertsing and media Ltd …
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BOU denies hiding cash on foreign account in Germany Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda (BOU) has dismissed as untrue reports that it has hidden Sh10.7 billion in a bank in Germany, an issue that has been widely spread on social media in the past week. In …
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Brussels, Belgium | AFP | The battle for the spoils of Brexit began Tuesday as 23 European cities launched their bids to host two London-based EU regulatory agencies that will be forced to leave the British capital. Slick videos and glossy brochures abounded as the EU announced that 19 cities were …
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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 …
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The Independent Uganda: You get the Truth we Pay the Price