New York, US | XINHUA | Wall Street’s major averages posted mixed results during the past week as investors digested a slew of earnings reports while weighing the impact of surging coronavirus infections. For the week ending Friday, the Dow gained 2.3 percent, the S&P 500 rose 1.3 percent, and …
Read More »Stock markets bounce back after heavy losses
London, United Kingdom | AFP | US and European stock markets were higher Friday as investors turned buyers again after the previous day’s rout on coronavirus economic fallout fears and the likelihood of a second wave of the pandemic in the United States. The magnitude of the earthquake caused by the …
Read More »World stocks extend gains on economic optimism
London, United Kingdom | AFP | Global stock markets built on strong pre-weekend gains on Monday as optimism that economies are emerging from coronavirus gloom kept buyers onside. On Wall Street, the Dow index was up just over 200 points at the opening bell, while in Europe London and Frankfurt were …
Read More »Stock markets surge on swift recovery hopes
London, United Kingdom | AFP | Growing optimism about a swift global economic recovery pushed equity markets sharply higher Wednesday, as investors took heart from further easing of lockdowns while looking past China-US tensions and civil unrest across America. The upbeat mood — and hopes for an extension to a massive …
Read More »Stock markets shrug off US layoffs
London, United Kingdom | AFP | Stock markets mostly rose and the dollar advanced Thursday, gaining traction from optimism over reopening economies and a huge EU coronavirus recovery package, dealers said. Asia bounded higher but Hong Kong failed to maintain early gains as investors fretted over a US decision to revoke …
Read More »Stock markets firmer on lockdown easing hopes
Paris, France | AFP | Global stock markets were firmer Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. On the downside, an upsurge in Sino-US tensions, especially over Chinese plans to introduce a national security …
Read More »Investors fled country as Uganda started COVID-19 measures -BoU
Kampala, Uganda | THE INDEPENDENT | As Uganda prepared to impose a lockdown to stem the spread of the coronavirus disease (COVID-19), some investors withdrew billions of shillings from the country and ran for safe havens according to Bank of Uganda. In just one month between February and March 6, …
Read More »Museveni warns investors to desist from constructing in wetlands
Kampala, Uganda | THE INDEPENDENT | President, Yoweri Museveni has warned the general public and investors against encroaching on wetlands. He says the structures constructed in wetlands block water, which can lead to severe floods. Speaking to journalist at the Jinja based State Lodge on Tuesday night; Museveni said government shall …
Read More »Governance problems obstructing long-term financing for Ugandan companies
Kampala, Uganda | THE INDEPENDENT | Companies are not accessing long term financing due to failure to disclose details of their operations to the investors as a basis for giving them money. Uganda Securities Exchange (USE), Executive Director Paul Bwiso, said there is money out there but investors want to …
Read More »Uganda must consume all generated electricity for tariffs to come down
Kampala, Uganda | THE INDEPENDENT | All power generated at new power dams will have to be consumed, for Ugandans to realize cheaper electricity, a Ministry of Energy official has said. James Banaabe, the Director of Energy Resources at the Ministry of Energy and Mineral Development said Uganda invested in new …
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