Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael Atingi-Ego to respond to a situation that has seen prices of…
Visionary tycoon Rajiv Ruparelia who many describe as Uganda’s economy explorer for his lucrative investments in various sectors has bemoaned the fact that only a few Ugandans have tested on profits from animal (pets) business opportunity. A pet, or companion animal, is an animal kept primarily for a person’s company or entertainment rather than as…
Every case is as good as its legal strategy and every legal strategy is as good as the team on it. To defend himself against a UGX397 billion (USD106 million) suit from Bank of Uganda, arguably one of Uganda’s most feared, ruthless and cash-rich regulators, Dr. Sudhir Ruparelia, Uganda’s richest businessman had to go for…
Lt. Col. Nyakaisiki Carol Basalisa, who is involved in a bitter property wrangle with her relatives, has landed in hot soup after it emerged that she is using her position as a Uganda Peoples Defence Forces (UPDF) officer to intimate and take advantage of the people she is supposed to help. Controversy arose about how…
New global shocks and the impacts of the Russia-Ukraine war has dampened Uganda’s economic growth prospects amidst the waning coronavirus pandemic and full re-opening of the economy and a clearer outlook for oil production following signing of the Final Investment Decision in February this year. Uganda’s economy is now estimated to grow at 3.7 percent…
The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24 hours on Uganda’s status. In his State of the Nation Address on June 7, President Yoweri Museveni said that Uganda would achieve the…
Teachers under Uganda National Teachers’ Union-UNATU have agreed to call off the teachers’ strike. The decision was taken on Monday evening after a meeting between UNATU leaders and President Yoweri Kaguta Museveni at Kololo Ceremonial Grounds. During the meeting, UNATU presented their case but the President told the teachers that the government has already provided…
The Attorney General Kiryowa Kiwanuka has asked the constitutional court to dismiss an application challenging the president’s decision to appoint 16 High Court Judges in acting capacity. On May 25th, 2022, the Judicial Service Commission issued a press statement indicating that President, Yoweri Kaguta Museveni had appointed 16 High Court judges to serve in an…
The man who recently slapped the Minister of State for Works, Musa Ecweru has been sent to Butabika National Referral Mental Hospital for treatment. The 39-year-old Emmanuel Okurut was sent to Butabika Hospital on Friday. It followed his arrest last week for allegedly slapping the Minister as he was addressing Christians at St. Michael Catholic…
The joint security force of Police and the Directorate of Citizenship and Immigration over the weekend arrested more than 30 Asian nationals in Kampala City without working permits. The individuals mostly of Indian, Pakistani, and Chinese origin were arrested for working in the city centre without clearance of the immigration department. The spokesperson of the…
