Bank of Uganda has said Covid-19 related borrowing has pushed up public debt by 20.5 per cent between June 2019 and June 2020.The details are contained in the Bank of Uganda state of the economy report for September in which the Central Bank indicated …
Last Thursday, several youth carried concrete pillars while elderly men dug holes at the boundary between Kapelebyong and Amuria districts to restore a river that has been severely degraded.Women offloaded bamboo shoots from a pickup truck parked by th…
Export earnings have rebounded after three months of recording a decline. Earning, mainly from coffee, fish, flowers and cement, some of which had experienced some volatility, recovered during the period ended June to fetch Uganda growth of at least Shs172b. According to data from Bank of Uganda, Uganda exported goods worth $337m (Shs1.2 trillion) up […]
Commercial banks in Uganda are expected to profit off the $100m syndicated loan advanced towards MTN Uganda to pay for its 12 year licence. In notes published along its financial results for the half year ended June, MTN revealed an increase in its net debt from Shs110b (R423m) in December 2019 to Shs367b (R1.6b) due […]
STATE HOUSE, ENTEBBE: President Yoweri Kaguta Museveni has cautioned the Parliamentary committee on Finance, Planning and Economic Development to first weigh and analyze the advantages and disadvantages of the NSSF Amendment Bill 2019 to the Fund, Government and the members (savers) before they make a decision. The President yesterday met the Finance Committee of Parliament […]
The World Bank today approved $15.2 million to support Uganda’s efforts to prevent, detect and respond to COVID-19 and strengthen national systems for public health emergency preparedness under a new operation – the Uganda COVID19 Response and Emergency Preparedness Project. The project is financed by an IDA credit of $12.5 million and a grant of $2.7 […]
Asian markets were mixed Wednesday as optimism over a potential coronavirus vaccine earlier this week steadily begins to fade. The Nikkei index in Tokyo gained nearly 162 points to finish 0.7% higher, while Sydney’s S&P/ASX, the KOSPI in Seoul and Taiwan’s TSEC index had all earned 0.4% by late afternoon. Hong Kong and Shanghai were […]
Asian markets are on the rise Monday as more and more nations continue to slowly emerge from the lockdowns imposed to halt the coronavirus pandemic. Tokyo’s Nikkei index closed 0.4% higher, despite news earlier in the day that Japan had technically fallen into recession for the first time since 2010 after two straight quarters of […]
The coronavirus pandemic continues to take a toll on national economies, with Germany among its latest victims. The pandemic pushed the European economic powerhouse into a recession in the first quarter, as its economy shrank by 2.2 percent. Germany’s federal statistics agency said Friday the economy’s decline over the last quarter in 2019 was “the […]
Asian markets were all trading lower Thursday in reaction to a gloomy assessment about the struggles facing the global economy due to the coronavirus pandemic. Japan’s Nikkei index was down 1.5 percent in late afternoon trading, while Hong Kong had lost 1.3 percent. The indexes in Seoul, Shanghai, Sydney and Taipei were also posting significant […]
WASHINGTON – Germany passed an important milestone Tuesday: Its coronavirus reproduction rate fell below 1, it said. Public health officials said that as of Tuesday, 100 infected people could now infect 94 others within 24 hours. At Monday’s rate, 100 people could infect 107 others, and on Sunday, 100 people could infect 113. But Germany […]
European markets are beginning the week on a high note, with all three major indexes making gains in early trading Monday. The FTSE in London and the DAX in Frankfurt are both 0.4% higher, while the CAC-40 in Paris is down slightly at 0.2%. The trading day began with significant gains in Asia, led by […]
Global markets were mixed Thursday, with Asian indexes struggling despite good economic news from China. Japan’s Nikkei index closed 0.2 percent higher, while the TSEC 50 in Taipei finished 0.6 percent higher. The indexes in Hong Kong, Shanghai and Sydney were all in negative territory, with investors apparently unmoved by Beijing’s announcement that exports rose […]