By Agencies Not even a nearly $40 billion divorce can topple Amazon (AMZN) founder and CEO Jeff Bezos from being the world’s richest person. For the third year in a row, Bezos landed the top spot on Forbes’ rank of global billionaires. His net worth fell $18 billion last year to $113 billion, according to Forbes, partially due to his high-profile split from…
The World Bank Uganda office has donated Uganda Shillings 57bn (USD 15m) towards the country’s fight to the spread of coronavirus. The money according to Antony Thompson, the World Bank Uganda Country director, will be re-allocated from the Reproductive Maternal and Child Health Services Improvement Project. The money will be put back from the Fast-Track…
The management of Meera Investments Limited has petitioned finance minister opposing some of clauses in the proposed Tax Amendments Bill, 2020. The Ministry of Finance, Planning and Economic Development tabled before Parliament five bills, which include; Excise Duty Amendment bill 2020, Value Added Tax bill 2020, Income Tax Amendment bill 2020, Stamp Duty Amendment Bill…
Government has budgeted to spend Shs304.5 billion in combating the Covid-19 pandemic. Out of the total budget, Health will get the largest share, followed by Security and Disaster management. Others that will benefit from the budget are the local governments, Kampala City Council Authority (KCCA) and Information Communication Technology (ICT) ministry. According to the proposed…
Media fraternity have proposed ways through which the fourth estate can keep operational as Uganda comes to terms with the global Covid19 pandemic. In relation, a state rests on four pillars for it to armpit several anniversaries; Executive,Judiciary, Legislature and the Fourth Estate-Media. However, due to COVID-19, the media, as all other businesses, will be…
The Prime Minister of Uganda Rt. Hon. Ruhakana Rugunda has told Parliament that utility companies will still charge for services, except that service providers should exercise restraint in and consider grace periods for defaulters. Rugunda was clarifying on several questions raised by MPs and said utility companies should continue to be able to provide services.…
Coronavirus has brought the county’s tourism and hotel industry sector to its knees. Tourist cancellations have reached 100 per cent due to the pandemic and within weeks, various hotels have turned into white elephants, making back-to-back losses. After the government confirmed 14 coronavirus cases, the situation went from bad to worse, forcing investors to ask…
The Government Of Rwanda through its Foreign Affairs Ministry has cried to the the Government Of Uganda to block relief trucks heading to Burundi. In a statement traced by this Website, Rwanda authorities stated that the government of Burundi is no longer allowing cargo trucks transiting through Rwanda to enter Burundi’s territory despite the decision…
As the saying ‘It ain’t over till it’s over’, well, you can’t argue with that. Former Bank Of Uganda (BoU) Deputy Governor Dr. Louis Kasekende is having sleepless nights after learning that his Ex bodyguard revealed a detailed information about his dealings to the Inspectorate of Government. This comes at a time when the president of Uganda Gen…
The President of Uganda Yoweri Kaguta Museveni has appointed Dr. Michael Atingi-Ego as the new Deputy Governor, Bank of Uganda (BoU). Mr Museveni, announced the appointment in a Sunday March 29, 2020 tweet, a day after the Central Bank board of directors unanimously picked the Director of Research at Bank of Uganda, Dr Adam Mugume,…
