Tycoon Sudhir Ruparelia Meera Investments Ltd owned by property mogul, Sudhir Ruparelia has acquired Simbamanyo House in the central business district at a cost of $5m (Shs18.51bn). According to Matooke Republic, Sudhir’s Meera Investments emerged highest bidder when the building was put up on auction by Equity Bank through public
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President Yoweri Museveni has lashed out at MPs for rejecting the plan to construct roads in the eastern Democratic Republic of Congo (DRC), saying the roads are aimed at boosting trade between the two nations. He said the project will have to be conducted. The President made the remarks in
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Food aid is unloaded from a World Food Programme vessel at in Beirut, Lebanon in Sept. The World Food Program was awarded the 2020 Nobel Peace Prize for its efforts to combat hunger, particularly in conflict zones. The organization is being honored “for its contribution to bettering conditions for peace
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Hon. Jackson Kafuuzi, the Deputy Attorney General, returning to his seat after presenting his report on the nomination dates Legislators are displeased by the government’s refusal not to extend nomination time by the requested 14 days for local government and parliamentary contenders, citing the government’s sabotage of its citizens. This
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It was choppy trading for the local currency during the week, with no clear established trend. In the early sessions, the shilling held up supported by portfolio flows targeting the government securities market, but later lost steam and weakened as demand rebounded. On the counters the shilling traded within a
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BoU Governor, Prof. Emmanuel Tumusiime-Mutebile Bank of Uganda (BoU) has spoken out the judgment of the Commercial Division of the High Court in Misc. Application No. 654 of 2020 and High Court Civil Suit No. 43 of 2020 involving M/s Ham Enterprises and Others –Vs- Diamond Trust Bank (U) Ltd
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UBA Executive Director, Wilbrod Humphreys Owor Commercial banks under their umbrella body, Uganda Bankers’ Association (UBA) have protested High Court ruling in which Judge Henry Peter Adonyo ordered Diamond Trust Bank to pay Ham Enterprises Ltd Shs120bn reportedly illegally debited from the company’s accounts. The judge also ordered the bank
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Africa's economy may rebound next year The World Bank says the coronavirus pandemic has reversed a decade of hard-won growth in Africa and could lead to a 3.3% contraction of its economy in 2020. But the bank predicted that growth would rebound next year. Africa has so far escaped the
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When employees were first asked to work from home, instant transformations were required to make it effective. Several months in, many companies are strategizing around a safe return to work plan. Just as technology was key to a successful work from home transition, it is also essential when employees will
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Finance minister, Hon. Matia Kasaija, updating the House on the compensation due to Ugandans who traded with South Sudan in 2008 Parliament has criticised government over delayed compensation of Ugandan traders who supplied goods to the Government of South Sudan in 2008, even after Parliament appropriated funds for the same
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