Experts tell Museveni, Mutebile, Muhakanizi President Yoweri Museveni’s unchecked spending and the Ministry of Finance and Bank of Uganda efforts to clean have created a lope-sided economy that is hurting everyone. That is the view of several economists interviewed by The Independent. Dr. Lawrence Bategeka, formerly a researcher at the …
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Tanzanian based -lowcost carrier Fastjet has announced plans to cut flights in East Africa starting this month as part of a route rationalisation exercise meant to match frequencies and customer demand. Fastjet, which launched direct flights between Dar es Salaam and Entebbe International Airport in 2014, says “rationalisation” of its …
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Bank of Uganda has moved to assure customers that Crane Bank will not collapse in spite of its current challenges. BoU took over the management of Crane Bank on Oct 20 citing under-capitalization. Speaking during the Annual Bankers Dinner in Kampala, BoU Governor Emmanuel Tumusiime-Mutebile (Pictured) said that it was …
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Lagos, Nigeria | AFP | Nigeria and Morocco are in talks over a huge project to extend a West African gas pipeline to stretch up towards Europe, officials say. Nigerian Foreign Minister Geoffrey Onyeama said in a government video posted on Twitter on Friday that the pipeline would “go along …
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Algiers, Algeria | AFP | Algeria’s premier said Saturday regional trade in Africa was much lower than in other continents as the oil exporter seeks to diversify its revenue stream because of low crude prices. Regional trade makes up only 10 to 12 percent of international commerce for African countries …
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Washington, United States | AFP | The US administration-in-waiting nominated by President-elect Donald Trump is a circle of multimillionaire businessmen and women the public may view as a cabinet whose wealth is unprecedented in US history. Himself a billionaire real estate developer, Trump could entrench this characteristic should he choose …
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Singapore, Singapore | AFP | Oil prices resumed their rise Thursday and held above the $50 barrier following OPEC’s decision to carry out its first output cut in eight years. The Organization of the Petroleum Exporting Countries at a meeting in Vienna on Wednesday agreed on specific targets to enact …
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The Minister of Trade, Industry and Cooperatives Amelia Kyambadde has explained that the decision to call off the Uganda National Chamber of Commerce and Industry (UNCCI) elections was agreed with all stakeholders after a recent meeting. “I have received a number of concerns from different stakeholders on operations of Uganda National …
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New York, United States | AFP | Steven Mnuchin is hardly a household name, but US President-elect Donald Trump’s new pick for Treasury secretary has close ties to Wall Street that could prove a double-edged sword in the current populist era. A former Democratic Party donor, the 53-year-old surprised his …
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London, United Kingdom | AFP | The Royal Bank of Scotland is the worst prepared among Britain’s lenders for another financial crisis, the Bank of England said Wednesday, forcing the state-rescued lender into a new capital-raising plan. The BoE, revealing its latest stress tests on Britain’s top seven banks, added …
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The Independent Uganda: You get the Truth we Pay the Price