Business

Abu Dhabi, United Arab Emirates | AFP |  Abu Dhabi’s Etihad Airways said Monday it would suspend flights to Qatar after the United Arab Emirates was among major Gulf states to sever ties with Doha in an unprecedented regional crisis. Etihad said flights would stop on Tuesday, after the UAE, …

Washington, United States | AFP | The World Bank is keeping its forecast for global growth in 2017 unchanged, because for the first time in years, no new risks have arisen to threaten the outlook. “Over the past four years this is the first time we didn’t have a downgrade …

Indians, local traders struggle as red dragon invades retail If any one place can be described as the heartbeat of Uganda’s retail business, it is Kikuubo Road; a half kilometer road in down town Kampala, that is an open market yard. At any time of day it is so packed …

THIS WEEK: Kampala traders are up in arms over increased property and commercial tax in the city levied by Kampala Capital City Authority (KCCA). Some of the properties include business arcades which house majority of businesses in the city. Several of the traders who appeared at the valuation court at …

President meets Airbus representatives, assures Ugandans, “Uganda Airlines will succeed” Entebbe, Uganda| PPU| President Yoweri Kaguta Museveni has said that once revived, the Uganda Airlines will succeed mainly because of the direct travel opportunities that it will offer its citizens in the diaspora, the business community  and tourists. He said the …

Kampala, Uganda | PPU |  President Yoweri Kaguta Museveni has launched “The presidential initiative on skilling the girl child” at the Northern Wing of Wandegeya market outside Kampala. The Presidential Initiative on Skilling The girl child, aims to reduce on the unemployment rates by offering  girls extra skills in baking, tailoring, weaving, shoe-making …

Five employees of Equity Bank – Uganda have been sentenced to jail terms ranging from 5 to 12 years after the Anti-Corruption  Court found them guilty of embezzling sh4.6 billion from their employer. Justice Margaret Tibulya  has sentenced Abubakar  Karungi to 12 years,  David Sserwamba  and Matthew Keeya have been …

Barclays PLC sells 33.9% more shareholdings in Barclays Africa London based Barclays PLC on June 01 shed 33.7% more shareholdings in Barclays Africa Group to equity investors at South African Rand R37.7bn, further reducing its stake in the latter company. The lender sold 285.7million Barclays Africa ordinary shares reducing its …

URA recognises top 20 tax paying educational institutions Uganda Revenue Authority has released a list of top 20 tax payers in the education sector ahead of June 8 – the day Finance Minister Matia Kasaija presents the 2017/18 national budget. According to a notice released by URA’s Commissioner General, Doris Akol …

Barclays PLC has announced its intention to sell 187 million ordinary shares in Barclays Africa Group, which represents approximately 22% of Barclays Africa’s issued share capital. This follows receipt of the required regulatory approvals, including approval from the South African Minister of Finance, for Barclays PLC to reduce its shareholding …