Business

New York, United States | AFP | Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity. With space to store oil scarce, US benchmark West Texas Intermediate for May delivery ended …

Kampala, Uganda |  JULIUS BUSINGE  | In a bid to give some relief to its clients, PostBank has announced that it will reschedule loan repayments for customers whose lives and businesses have been impacted by COVID-19 pandemic, it announced a few days ago. This move comes as Bank of Uganda (BoU) continues …

Entebbe, Uganda |  THE INDEPENDENT |  The National Aviation Services, formerly Entebbe Handling Services (ENHAS) is laying off staff who have become redundant as a result of measures to combat the spread of Coronavirus Disease-COVID-19. One of the measures that have affected the ground handling company is the temporary suspension of …

Kampala, Uganda | THE INDEPENDENT | Uganda’s export earnings in the twelve months to February 2020 dropped by at least USD 1.1bn (27.2%), equivalent to 4.1 trillion shillings. According to the Bank of Uganda, this has worsened by the country’s trade deficit – a situation when a country’s imports exceed its …

  Kampala, Uganda | JULIUS BUSINGE | Xsabo Group through its corporate social responsibility arm, Xsabo Foundation has contributed Shs50million towards the fight against the spread of coronavirus pandemic in Uganda. The contribution was handed over to Prime Minister, Ruhakana Rugunda who also doubles as the Chairman of the National …

Kampala, Uganda | JULIUS BUSINGE | Simba Automotives, a subsidiary of Shumuk Group of Companies has donated three motorcycles and a motorcycle ambulance to the government of Uganda worth Shs50million towards the fight against the spread of coronavirus pandemic. The donation was received by the Minister of Health Dr. Jane …

Britain turns to Europe to save its crops London, United Kingdom | AFP | To save fields of asparagus and strawberries threatened with rotting, Britain is mobilising a workforce of students, the unemployed — and workers from Europe. Little more than two months after leaving the European Union, accompanied by …

Washington, United States | AFP | The IMF and World Bank have aggressively pushed out financing to help countries deal with the health and economic impacts of the coronavirus pandemic. Here is a summary of the financing available from the Washington-based development lenders: – Regular lending capacity – All members …

Kampala, Uganda | Julius Businge | Due to disruptions caused by COVID-19 lockdown, Centenary Bank top officials have announced the removal of charges for account to mobile wallet transfers for any amount using its CenteMobile platform. Officials said on April 15 that customers can also withdraw Shs 50,000 at CenteAgent locations and …

Kampala, Uganda | THE INDEPENDENT | Uganda could emerge from the COVID-19 crisis as the most resilient compared to the other countries in the region, the International Monetary Fund (IMF) has said. In the latest report of the global outlook for 2020, the IMF says Uganda’s growth will be 3.5% …