Business

Nairobi, Kenya | AFP | The seizing of the Aris 13 tanker and its Sri Lankan crew on Monday — the first successful attack by Somali pirates since 2012 — came as little surprise to John Steed of the Oceans Beyond Piracy campaign group. International naval patrols and anti-piracy measures on …

Jean – Philippe Bittencourt, is the general manager for Sheraton Kampala Hotel. He spoke to The Independent’s Julius Businge on the prospects of Uganda’s hotel industry. How would you describe the 50 years journey of Sheraton Kampala Hotel? It is a landmark in our lives and we will continue to …

Libyans vow to take on Uganda after `quitting’ It is not clear what the Uganda government’s plan is since it announced that the Libyan owners of Uganda Telecom Ltd (UTL) have quit, but the move might get dirty if the Libyans instead implement a fight for the company. The government …

Fine Spinners (Uganda) Limited has taken over management and assets of Phoenix Logistics in a move government says will revamp the operations of the factory. The State Minister for Micro Finance Haruna Kyeyune Kasolo  said garments company Phoenix Logistics has been running at a sub optimal level and needs to improve …

Addis Ababa, Ethiopia | AFP | Electric light railway tracks soar over Ethiopia’s capital Addis Ababa, a rare example of mass transit infrastructure on a continent ruled by ramshackle, diesel-spewing buses. But despite government promises, the roads below are still clogged with traffic 14 months after the light rail system’s opening, …

Bank managers explain recent cuts to 20% average   Effective this month most commercial banks started charging lower interest rates on flexible existing and new loans with analysis indicating about 20% is the new average industry rate compared to around 23% a period before. The move is expected to boost uptake …

Lagos, Nigeria | AFP |  Nigeria’s southern oil-rich Rivers state on Saturday backed a government call for major oil companies to move their offices to the Niger delta region, as part of measures to stem unrest in the oil-rich area. Attacks by rebels seeking a fairer share of Nigeria’s multi-billion-dollar …

VIDEO: Companies dealing in new shoes have decried the increasing fake shoes on the market that they say are impacting on their businesses negatively. According to the Bata Marketing and Sales manager Diana Nabunya, traders dealing in shoes should ensure high quality products. This as they launched special ladies shoes that …

The Board of Directors of Uganda Electricity Generation Company Limited (UEGCL) has warned about none conformity to agreed repair methods for previously observed cracks at the Isimba Hydro Power Project. The board made the observation Friday when they visited the Isimba Hydro Power Project site to assess the progress of the …

Government has lifted a ban on the externalization of labour to allow Ugandans seek jobs abroad especially in The Middle East. A year ago, government imposed a ban on the externalization of workers following reports of hostility meted out on Ugandans working abroad. The growing concern was that domestic workers …