Business

The European Parliament on Wednesday approved the Artificial Intelligence (AI) Act with an overwhelming majority in Strasbourg, France. BRUSSELS, Belgium | Xinhua | The European Parliament on Wednesday approved the Artificial Intelligence (AI) Act with an overwhelming majority in Strasbourg, France. The Parliament passed the act with 523 lawmakers voting …

NAIROBI, KENYA | Xinhua | The Kenyan shilling strengthened against major world currencies, hitting a nine-month high against the U.S. dollar Wednesday. The Central Bank of Kenya placed the shilling against the dollar at 138.8, its highest level since the currency started to decline in June last year. The shilling …

Kampala, Uganda | THE INDEPENDENT | A transport consultant has asked the government to consider allowing private companies to operate railway transport on government infrastructure. Uganda’s developed rail network covers 1,250 kilometres, but currently, only about 20 percent of this is serviceable, with the rest either abandoned or closed. Currently, the …

Kampala, Uganda | THE INDEPENDENT | On March.07, MTN Uganda, through its charitable arm, the MTN Foundation, made a significant donation of tailoring, baking, and hairdressing equipment, alongside other vital resources valued at Shs 17 million to the Nottingham Trent Skilling Center. This contribution marks a critical phase in the partnership …

  Kampala, Uganda | THE INDEPENDENT | Nile Breweries Ltd (NBL) won the Silver Award in the prestigious 2023/24 Employer of the Year (EYA) Awards organised recently by the Federation of Uganda Employers (FUE). The awards held at Speke Resort Munyonyo under the theme “Employer competitiveness post-COVID” sought to measure …

Kampala, Uganda | THE INDEPENDENT | Bankers want bank agents to be allowed to conduct Bancassurance business on behalf of the financial institutions to enhance access to the services by the public. Diamond Trust Bank, named Most Innovative Bancassurance Agent 2022, says there is a need to further take services closure …

Kampala, Uganda | THE INDEPENDENT | Experts have raised a red flag, urging Ugandan banks to close digital loopholes, after Equity Bank Uganda launched investigations into cases of fraud surrounding their Stock Loan and Agent Float financing. The fraud is likely to lead to a sh65billion loss. “Looking at the press …

Kampala, Uganda | THE INDEPENDENT |  Uganda police has condemned the use of its traffic image, as content in a controversial commercial advert, of a juice, popularly known as “JESA JUS”. They have now demand that the commercial firm, pulls out the traffic police content or the entire advert, and …

Kampala, Uganda | THE INDEPENDENT | The government has witnessed an increase of nearly 80 percent in local revenue collection from local governments following the transition to online and mobile payment platforms. In 2017, the government started to automate Revenue Management Systems across Local Governments, and one of the systems introduced …

  Kampala, Uganda | THE INDEPENDENT | Standard Bank has been ranked as the most valuable banking brand in Africa in 2024. This is the third consecutive year that Standard Bank has been ranked first in Africa Brand Finance’s annual ranking of the world’s Top 500 Banking Brands. The bank also …