Tag Archives: economy

Kampala, Uganda | THE INDEPENDENT | The Commercial Court judgment against Diamond Trust Bank-DTB will have wider repercussions across the entire economy in terms of the cost of credit. On Wednesday, the Head of the Commercial Court, Justice Henry Peter Adonyo ruled that the credit facilities DTB-Kenya offered to local businessman, …

Juba, South Sudan | Xinhua | South Sudan’s government on Friday said it will soon be changing its currency in a bid to shore up its economy following continued depreciation of the pound against the U.S. dollar. Michael Makuei Lueth, Minister of Information and Broadcasting said the decision came after the …

Washington, US | Xinhua | U.S. President Donald Trump said Tuesday that he has asked his administration’s negotiators to withdraw from COVID-19 relief talks with Democrats until after the presidential election in November. “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we …

Addis Ababa, Ethiopia | XINHUA | The African Union (AU) Commission on Sunday called for addressing non-tariff barriers in order to realize the major aspirations of the African Continental Free Trade Area (AfCFTA) Agreement. “The African continent is about to become the world’s largest free trade area. If not addressed, non-tariff …

New York, US | XINHUA | Wall Street’s major averages climbed modestly in the week as investors focused on news about U.S. President Donald Trump’s positive test for COVID-19 as well as updates of a fresh round of U.S. fiscal stimulus. For the week ending Friday, the Dow added 1.9 percent, …

Kampala, Uganda | THE INDEPENDENT | The Government of Uganda through the Ministry of Gender, Labour and Social Development has partnered with the European Union (EU) and UNESCO in a joint project aimed at supporting the development of the local film industry. The project will create measures to provide a tax …

Khartoum, Sudan | XINHUA | Chairman of Sudan’s Sovereign Council Abdel Fattah al-Burhan on Saturday said removing Sudan from the U.S. list of states sponsoring terrorism constitutes a priority for the transitional government. Al-Burhan made the remarks when addressing the opening session of the first National Economic Conference, which kicked off …

  Kampala, Uganda | Isaac Khisa | Uganda’s mobile money transactions grew by 19.3% to Shs 79.8 trillion for the year ending June.30, according to Michael Atingi-Ego, deputy governor, Bank of Uganda. Atingi, who was speaking during the Uganda Bankers Association retreat at the Kampala Sheraton Hotel on Sept.22, said out …

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund forecasts it will pay members less than 10 percent interest down from the double-digit interest rate that it has paid over the last several years after their operations were adversely affected by the COVID-19 pandemic. The final interest rate …

Kampala, Uganda | THE INDEPENDENT | The financial sector recorded a big jump in electronic transactions over the last year boosted by the lockdown that was induced by the COVID-19 pandemic, according to sector players. The economy was largely shutdown in March with the government banning most activities like public …