Business

Luxembourg, Luxembourg | AFP | The EU’s top court on Tuesday backed the right of member states like France to ban a service by ridesharing firm Uber without notifying Brussels, in a fresh setback to the US giant. The European Court of Justice ruled in favour of France’s ban of …

Kampala, Uganda | THE INDEPENDENT | Government has asked Uganda Revenue Authority (URA) to drop a recent directive for banks to release to them account details of all their clients. Uganda’s cabinet decided on Monday that the URA move “would cause unnecessary litigation and some turbulence in the banking sector and …

UEGCL remains optimistic that official launch of the project is set for August Kampala, Uganda | JULIUS BUSINGE | On Monday, April 02, another step towards having a high-tech, well built 183MW Isimba hydro power plant was demonstrated by its main overseer– Uganda Electricity Generation Company Limited (UEGCL). The Dam …

  Kampala, Uganda | THE INDEPENDENT |  The Uganda Bankers Association (UBA) is challenging a directive to its members requiring them to furnish information related to all the accounts they hold. Uganda Revenue Authority (URA) last month wrote to all Ugandan banking institutions asking them to release demographic and financial …

Kampala, Uganda | JULIUS BUSINGE | With the first oil expected towards the end of 2020 in Uganda, players are already exploring more ways of reaping from the sector. The latest avenue was a two-day local content workshop organized by the Association of Uganda Oil and Gas Service Providers (AUGOS) in …

Stanbic records sharp drop in profits as DFCU’s NPL nearly doubles Kampala, Uganda | ISAAC KHISA | Uganda’s banking industry appears to be heading towards tougher times again, according to the industry executives.This is owed slow private sector credit growth, volatile trading security market and the declining interest rates amidst …

Kampala, Uganda | GODFREY SSALI | Government has taken a decision to prioritize local manufacturers of transformers in government procurement processes as one of the moves to promote Buy Uganda Build Uganda. This was agreed on during a meeting convened by the Ministry of Trade with local companies that manufacture transformers, …

Company managers say recent concession talk not threat to its future  Kampala,Uganda | JULIUS BUSINGE | Uganda’s power distributor, Umeme Limited, has recorded a surprise performance in the year ended December 2017, with the net profit dropping threefold to Shs 35bn compared with the previous year. The less than expected …

    DFCU DEAL: Taxpayer stands to lose Shs300bn  Kampala, Uganda | HAGGAI MATSIKO | When Juma Kisaame; the Managing Director of DFCU Bank, looks at its latest financial results, he might have reason to smile and to worry. The bank’s latest financial results have excited shareholders but are also …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda plans to use the next 10 years to focus on expanding its data network and mobile money services, according to its CEO, Wim Vanhelleputte. Vanhelleputte, who spoke shortly after a public hearing on renewal of its operating license at the Uganda Communications Commission …