Business

Kampala, Uganda | THE INDEPENDENT | Tullow Oil is in the final stages of farming down its stakes in the Lake Albert Graben to its joint venture partners Total and China National Offshore Oil Company (CNOOC). Tullow, Total and CNOOC hold equal stakes of 33.3 percent in the Lake Albert Basin …

Kasese, Uganda | THE INDEPENDENT | It was a time of great celebration in Lhuhwahwa II village in Kasese district and in Rukomero village in Kyenjojo district in Western Uganda last week as community members came together to celebrate adoption of nutrition sensitive agricultural practices, improved dietary diversity and good …

Kampala, Uganda | THE INDEPENDENT | The amount of crude oil so far discovered is six billion barrels, down from 6.5 billion barrels, the Uganda government has announced. Of the six billion barrels, the amount recoverable has also been put at 1.4 billion barrels, down from the initial range of between …

Kampala, Uganda | THE INDEPENDENT | There is a new date for Uganda’s ‘First Oil’, which has now moved to 2022 from 2020, according to Energy Minister Irene Muloni. Addressing journalists in Kampala, Muloni said the delay is because the joint venture partners Total, China National Offshore Oil Company (CNOOC) and …

Kampala, Uganda | THE INDEPENDENT | A modern Taxi Park complex has been opened in Arua Municipality. The complex consists of two storied buildings with space for close to 120 lockup shops, a supermarket, a restaurant and a paved area with a parking capacity of up to 50 taxis at ago. …

Frankfurt am Main, Germany | AFP | German carmakers Daimler and BMW said Wednesday they had won final approval to merge their car-sharing services Car2Go and DriveNow, paving the way for the creation of a European giant to challenge the likes of Uber. In a joint statement, the companies said …

Kampala, Uganda | THE INDEPENDENT | Deals valued at US $32.6 billion were recorded at the inaugural week-long Intra-African Trade Fair (IATF) which ended in Cairo on December 17, 2018, according to preliminary figures released by the African Export-Import Bank (Afreximbank). Afreximbank, which organized the trade fair in collaboration with the …

Riyadh, Saudi Arabia | AFP | OPEC heavyweight Saudi Arabia on Tuesday announced an expansionary budget for 2019 but projected a shortfall for the sixth year in a row due to low oil prices. The new budget comes with the oil-rich kingdom reeling under strong international pressure over the murder …

Kampala, Uganda | THE INDEPENDENT | Business is booming down town in Kampala as faithfuls countdown to Christmas. Hundreds of people have packed roads such as Namirembe near Old Taxi Park and Luwum Street near Mini Price shopping Centre to purchase merchandise from traders. Some of the merchandise on sell includes …

  Mogadishu, Somalia | THE INDEPENDENT | Ahead of its inaugural flight to Somalia in January 2019, Kenya’s national carrier, Kenya Airways, made a test flight to Mogadishu today, as part of routine preparations preceding the formal launch of the direct flight early next year. The carrier has leased a …