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BoU sets November CBR to 12.5%

By Julius Businge The Bank of Uganda has reduced the central bank rate (CBR) to 12.5% in November from 13% in October with the aim to influence cuts in commercial bank lending rates and boost economic growth, central bank governor Emmanuel Tumusiime Mutebile told reporters in Kampala on Nov. 1. …

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Denmark’s Cuts Aid to OPM

By Sarah Namulondo The Ambassador of Denmark H.E. Dan E. Frederiksen has today announced Denmark’s decision to cutting all funds going to the office of the Prime Minister (OPM). On behalf of his Country, the Ambassador said that Denmark has zero tolerance towards corruption and the cutting of the funds …

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DP directs Police to cough 65 million

By Aloysious Kasoma Opposition Democratic Party has demanded Police to return sixty five million shillings of seventy million shillings alleged given to them by Federation of Uganda Football Association (FUFA) for security during the Zambia and Uganda foiled nation qualifier on 13th October. The party Spokesperson Jude Mbabali said  during their …

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Nantaba finally becomes Minister

By Aloysious Kasoma After a long and unnecessary vetting process the Kayunga Woman MP Idah Nantaba was on Tuesday cleared for State Minister for Lands, ending months of clashes between the outspoken legislator and Parliament. The Appointments Committee chaired by Deputy Speaker of Parliament Jacob Oulanyah today reportedly received a …

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Ugandan shilling falling further

By Julius Businge The Ugandan shilling fell against foreign currencies notably the dollar on Wednesday, dealers said. Commercial banks quoted the currency of Africa’s largest coffee exporter at 2,587/2,597, weaker than Tuesday’s close of 2,575/2,585. “There is some depreciation of the local currency as a result of better liquidity conditions …

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