Manchester United has reported a loss for the first three months of the year as operating expenses soared. It lost £3.8m between January and March, down from a £13.7m profit in the same period last year. The Old Trafford club incurred higher player contract expenses, and was also hit by
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Uganda Revenue Authority (URA) has collected Shs9.2trn in the last three quarters (9 months) of 2016/17 Financial Year (FY), a contribution of 70.11℅ to the annual target of 13.1trn. However, the tax body registered a shortfall of Shs240bn in the same period, thanks to the bad economy. Addressing the press
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On October 20, 2016, the Bank of Uganda (BoU), the regulator of Uganda’s financial sector, took over the management of Crane Bank Ltd after it (Crane Bank) became “a significantly undercapitalized institution.” Consequently, on February 27, 2017, BoU announced the acquisition of the now defunct Crane Bank by dfcu. The
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South Africa's Vodacom is set to a 35 percent stake in Safaricom from its parent company Vodafone for US$2.59 billion (Shs9.39 trillion), expanding its reach into Kenya. Safaricom, which is 40 percent owned by Britain's Vodafone and 35 percent by Kenya's government, has the largest subscriber base in its home
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The government has been urged to fix Uganda’s ailing economy and security before rushing to fix the media. The call was made by Media experts on Tuesday during a meeting convened at Office of the President in Kampala to assess media coverage on national security. As per the program, the
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The National Drug Authority has urged the public against buying medicines that aren’t translated in English. This comes follows the findings that some imported medicines on the Ugandan market aren’t labelled or translated in English yet it is mandatory. For example, NDA recently found TobraDex that is produced by Alcon
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Uganda’s President, Yoweri K. Museveni has strongly condemned the use of torture by police against suspected criminals, noting that it is ‘unnecessary.’ Below is Museveni’s guide to security agencies on the allegations of torture of suspects: PO/2 15th May, 2017 The Chief of Defence Forces UPDF Headquarters
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The International Monetary Fund (IMF) projects Uganda's economic growth to slow down to 3.5 to 4 percent in 2016/17 financial year, down from the earlier anticipated 5 percent due to drought and slow credit growth. "The drought held back activity in the first part of the year. Private sector credit
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The Chinese Ambassador to Uganda Zheng Zhugiang has said his country will do whatever it takes to help Uganda’s efforts of attainment of the middle income status. Speaking during a function to hand over two pickups to Operation Wealth (OWC) Creation on Monday, Zhugiang said they will always be available
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Uganda Peoples Defence Forces (UPDF) soldiers in the Central African Republic (CAR) have been accused of sexually abusing women in the war affected country. Human Rights Watch said on Monday that at least 13 women and girls have been sexually exploited or abused since 2015. The human rights body adds
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