Business

Kampala, Uganda | THE INDEPENDENT | Ugandans hold as much as Sh7.8 trillion on time deposit accounts, a figure which, according to the central bank implies confidence in the banking system. A time or term deposit is an interest-bearing bank deposit account that has a specified date of maturity, where …

Kampala, Uganda | THE INDEPENDENT | Government through the Finance and Economics Development Ministry is among others looking at reducing reliance on debt by increasing domestic revenue and improving the execution rate of projects as some of the ways to sustain the country’s debt. As at end of June 2019, …

  Kampala, Uganda | THE INDEPENDENT | Police in Amuru are hunting for suspected arsonists who set ablaze over 50 acres of growing sugar cane belonging to Atiak out growers in Amuru district. The incident happened on Saturday evening at Muroli village, Pacilo West Parish in Atiak Sub-County. Preliminary findings …

Kampala, Uganda | THE INDEPENDENT  |  Government intends to collect Shillings 21.54 trillion in domestic revenue in the 2020/2021 financial years to finance the proposed Shillings 39.64 trillion election year budget. This is slightly lower than the Shillings 40.48 trillion, budget for this financial year.  According to the Budget framework paper …

  Engineers Blame Masaka Road Defects to Poor Construction, Delayed Maintenance Masaka, Uganda | THE INDEPENDENT | Engineers have pointed to poor construction and delayed maintenance as the likely causes of the defects being experienced on Masaka-Kampala highway barely six years after its reconstruction. The road caved in at Lwera …

Gulu, Uganda | THE INDEPENDENT  | The Uganda Prisons Services – UPS is set to embark on commercial growing of macadamia nuts this year in its facilities across the country to diversify its income. Dr. Johnson Byabashaija, the Commissioner General of Uganda Prison Services, disclosed this in an interview with URN. …

✳ KCCA plan ■ Five key new roads under construction ■ Signalization of 13 of 30 junctions set ■ Plan to construct & upgrade 300km of secondary & connecting roads ■ Renovation of Old Taxi Park Kampala, Uganda | THE INDEPENDENT | Kampala City Council Authority (KCCA) is promising city …

Shanghai, China | AFP |  A company run by Bruce Lee’s daughter is suing a Chinese fast food chain for allegedly using an image of the late martial arts film star without permission. Shannon Lee’s Bruce Lee Enterprises accuses restaurant chain Kungfu Catering Management of having used her father’s image …

✳ Sh1.39 trillion for Lubowa Hospital ✳ Sh768 billion for Rwekunye-Apac-Lira-Acholibur Road ✳ Sh402.5 bn Muyembe-Nakapiripirit Road ✳ sh380 bn classified Defense ministry Kampala, Uganda | THE INDEPENDENT | Uganda’s Parliament approved loans to the tune of sh6.15 trillion this year, according to the annual performance report of the house. Despite …

London, United Kingdom | AFP | A top Brussels official has written a “love letter” to Britain expressing his grief at its decision to leave the European Union — and stressing it was always welcome back. “I know you now. And I love you. For who you are and what you …