Maputo, Mozambique | AFP | Lawyers in Mozambique are suing US fossil fuel giant Anadarko to block its planned $20 billion gas project, arguing the land was illegally taken from locals, according to a statement published Friday. Anadarko is one of the global companies investing billions of dollars to exploit …
Read More »Leaders accused of frustrating operations against illegal fishing
Politicians have been accused of frustrating operations against illegal fishing on Lake Victoria. Kampala, Uganda | THE INDEPENDENT | The commander of UPDF- Fisheries Protection Unit in the districts of Jinja, Kamuli, Mayuge, Buyende and Bugiri, Lt. Ronald Akandwanaho says that ever since Members of Parliament raised concerns of alleged torture …
Read More »Pharmaceuticals asked to penetrate local market
Kampala, Uganda | THE INDEPENDENT | The Minister of Trade, Industry and Cooperatives, Amelia Kyambadde has urged pharmaceutical industries in Uganda to work towards increasing the size of the local market that they serve. Kyambadde who visited Kampala Pharmaceutical Industrial Ltd on Thursday evening as part of ministerial tour to mark …
Read More »Conflict of interest cited in Global Trust Bank sale
Kampala, Uganda | THE INDEPENDENT | Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has cited possibility of conflict of interest in the sale of Global Trust Bank to DFCU. The committee in Friday continued its investigation into a decision by Bank of Uganda (BoU) to sale the Bank …
Read More »Facebook adds $9 billion to share buyback effort
San Francisco, United States | AFP | Facebook said Friday it would add $9 billion to its stock buyback program, which could scoop up shares pummeled over the past few months by privacy scandals and a slump on Wall Street. In a regulatory filing, the leading social network said it …
Read More »Huawei exec faces US fraud charges linked to Iran
Vancouver, Canada | AFP | Chinese telecom giant Huawei’s chief financial officer faces US fraud charges related to sanctions-breaking business dealings with Iran, a Canadian court heard Friday, a week after she was detained on an American extradition request. Meng Wanzhou, 46, was arrested in Canada’s Pacific coast city of …
Read More »Oil prices surge as OPEC agrees joint 1.2 mn bpd cut with partners
Vienna, Austria | AFP | OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls in prices in recent months. Energy ministers reached the deal — which takes effect from January 1 but …
Read More »Italy fines Facebook for selling users’ data
Rome, Italy | AFP | Italy’s competition authority has fined Facebook 10 million euros ($11.3 million) for selling users’ data without informing them and “aggressively” discouraging users from trying to limit how the company shares their data. Facebook “misleadingly gets people to sign up… without informing them in an immediate …
Read More »UNRA: 41 acres of land acquired so far for Kampala Northern Bypass works
Kampala, Uganda | IAN KATUSIIME | A total of 41 acres have been acquired by Uganda National Roads Authority (UNRA) in the expansion of Kampala Northern Bypass. According to the design of the bypass, UNRA is set to acquire 54 acres in total. During an inspection tour of the 21km bypass …
Read More »Transformer manufacturer asks Gov’t for support to penetrate market
Kampala, Uganda | THE INDEPENDENT | Electrical Controls and Switchgear (ECS) limited, a local company that has ventured into manufacturing transformers has called for government assistance in penetrating the market. James Kalibbala, the managing director of ECS says they ventured into manufacturing of transformers last year, however, they have so far …
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