The Commercial Court in Kampala has dismissed a case in which Bank of Uganda (BoU) sued property mogul, Sudhir Ruparelia for allegedly fleecing his own bank (Crane Bank in receivership) of Shs397 billion in fraudulent transactions. The Central Bank was seeking to recover the Shs397bn. In earlier submissions, Sudhir’s lawyers
Read MoreA new report by Knight Frank Uganda shows that investors in apartments in the upscale suburbs of Kampala like Nakasero, Naguru, Mbuya and Kololo saw the best start of 2019 with a surge in demand from expatriates compared to last year, URN reports. According to Knight Frank Uganda report for
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Wonders indeed never cease to happen! In Iganga district, Eastern Uganda, a 36 year old woman has given birth to five children at Iganga Main Hospital. Asia Mutesi (as seen in the featured photo with the babies), a resident of Kiibaale village, Nabweyo Sub County in Namutumba district gave birth
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Former England striker, Emile Heskey, is planning to invest in Zimbabwe’s energy sector. Heskey, who is a senior vice-president of Genoil, a Canadian company with interests in oil technology development, believes there are diverse areas of investment in Zimbabwe’s ailing economy. The 41-year-old, who played for England 62 times -
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Scientists say they have successfully extracted eggs from the world’s last two surviving northern white females rhinos. The team of scientists and conservationists, which is trying to save the species from extinction, carried out the process in Kenya where the rhinos are kept in a sanctuary. The procedure involved harvesting
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The chances of the proprietors of a gay company, Sexual Minorities Uganda (SMUG) to have it legally registered in Uganda suffered a big blow after Court of Appeal concurred with the decision taken by Uganda Registration Service Bureau (URSB) to block its registration. This brings to an end to the
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The Uganda shilling mildly strengthened on the back of improved inflows mainly from the commodity exporters during the week ending 23rd August 2019. Trading was in the range of 3685/3695, a touch stronger compared to opening levels of 3690/3670. In the interbank money market overnight funds traded at 7% while
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Fraudulent land transactions are increasingly taking place in various parts of the country. Greater Kibaale (Kibaale, Kakumiro and Kagadi districts) has not been spared, with reports indicating that top politicians have ‘connived’ with their friends mostly campaign agents and businessmen to fraudulently partition and share customary land (even with bonafide
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ACCA Uganda and Deloitte have launched the third edition of the Chief Finance Officer (CFO) Awards 2019, themed “ethics and trust, the competitive advantage for business sustainability”. This follows the huge success registered in the last two awards which saw six winners in 2017 and eight winners in 2018. This
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Uganda said on Friday it had blocked online access to Rwanda’s main state-owned newspaper on national security grounds, two days after the countries signed a pact to end tensions that closed their busiest border crossing for six months. Uganda’s communications regulator asked all internet service providers to block access to
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