Business

London, United Kingdom | AFP | The British government announced plans Thursday to distribute £330 million ($447 million, 371 million euros) taken from dormant bank accounts to good causes, bringing the total handed out to almost £700 million. The Dormant Accounts Scheme was established in 2008, allowing the reallocation of money …

Stockholm, Sweden | AFP | Swedish carmaker Volvo, owned by the Chinese Geely, said Thursday that booming demand in China helped it notch up record sales for the fourth consecutive year in 2017. Volvo Cars said in a statement that it sold a total 571,577 cars worldwide last year, an …

  Kampala, Uganda | JULIUS BUSINGE | The Public Accountants Examinations Board (PAEB) of the Institute of Certified Public Accountants of Uganda (ICPAU) has today released the November 2017 examination results conducted at seven centres across the country, showing a 1.4% improvement in performance when compared with the June – 2017 …

Doha, Qatar | AFP | Qatar has approved legislation allowing 100-percent ownership for foreign investors in most sectors of the economy in a bid to boost non-energy revenues, the government said on Thursday. The move comes at a time of political crisis in the Gulf, with Qatar under an economic and …

Cairo, Egypt | AFP | Egypt’s grand mufti has said that bitcoin is forbidden in Islam, warning the digital currency could be used for criminal purposes. Bitcoin, launched in 2009 and based on a peer-to-peer payment system, poses “high risks to individuals and states,” Shawqi Allam said in a published ruling. …

    Geneva, Switzerland | THE INDEPENDENT | The International Air Transport Association (IATA) forecasts global industry net profit to rise to $38.4 billion in 2018, an improvement from the $34.5 billion expected net profit in 2017. Strong demand, efficiency and reduced interest payments will help airlines improve net profitability in …

  Kampala, Uganda | THE INDEPENDENT | Leading telcom company Airtel has started the new year by hitting the 10 million customer mark. The milestone cement’s Airtel’s position as the fastest growing telecom in the Uganda and the company has pledged to continue investing heavily towards improving the quality of …

Kampala, Uganda | THE INDEPENDENT | As many revelers around the country were waiting for the clock to hit midnight so they can finally cross over into the “promised land of 2018” with fireworks and prayers for some, Africell Uganda seized the moment to launch a mega voice, sms and …

    Los Angeles, United States | AFP |  The legal cannabis sector is expected to generate $40 billion and more than 400,000 jobs by 2021 in the United States, according to a study released Tuesday. The estimate by consulting firm Arcview includes direct purchases by consumers of $20.8 billion …

Key indicators remain largely unchanged Kampala, Uganda | JULIUS BUSINGE | 2017 appears to have been a good and bad year for Uganda’s economy even as key indicators remained largely unchanged. Bank of Uganda’s monetary policy tamed inflation to below the set target of around 5% as well as stabilised exchange rate …