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Tag Archives: oil

Court clears ‘presidential handshake’ beneficiaries

Kampala, Uganda | THE INDEPENDENT | The High Court Civil Division has rejected findings and recommendations of the Parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that people who benefited from the SH 6 billion presidential oil handshake refund the money. The committee, which was led by Bugweri legislator …

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Without reforms, Gulf oil wealth could vanish by 2034: IMF

Dubai, United Arab Emirates | AFP | Energy-addicted Gulf states must undertake much deeper reforms or risk seeing their wealth drain away in 15 years as global demand for oil slides, the IMF warned Thursday. “At the current fiscal stance, the region’s financial wealth could be depleted by 2034,” the International …

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