The Uganda shilling held its ground in a flat market as demand remained weak for the week ending 25th August 2017. Trading was in the range of 3595/3605. In the interbank money market, the Shilling rates were equally stable trading at 7% for overnight and 10 % for 1 week
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The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday after a six-month trial over a scandal that brought down the president, Reuters reports. Lee had paid bribes in anticipation of favors from then president Park Geun-hye, according to a
Read MoreTanzania and Kenya have ended a two-month diplomatic row that led to import bans of some products and resulted in heavy financial losses for businesses from either side. The cessation of hostilities came after President Uhuru Kenyatta and Tanzania's John Magufuli stepped in to end what was fast degenerating into
Read MoreGoogle has started policing YouTube like it never did before, adding warnings and disabling advertising on videos that the company determines crosses its new threshold for offensive content. The crackdown started on Thursday. YouTube isn’t removing the selected videos, but is instead setting new restrictions on viewing, sharing and making
Read MoreBy Godfrey Kenneth Gobba Often times, because we don’t really understand how inflation wipes out our purchasing power over the years, we usually don’t consider protecting it from inflationary erosion as a priority. Purchasing power is how much your money can buy. It is how many kilos of sugar or
Read MoreUganda’s Electoral Commission (EC) Thursday revealed that elections for Local Council (LC) one will take place on November21, 2017. Addressing the press at EC offices in Kampala, Justice Simon Byabakama, the EC Chairman said that LC1 voting will not be by secret ballot but rather voters will line up behind
Read MoreSexual harassment, an overthrown chief executive, bitter boardroom in-fighting and a major lawsuit have not affected Uber's business. Quite the opposite. Figures published by news website Axios (which the BBC has confirmed are accurate) show the ride-sharing company's revenues are increasing, its losses are narrowing, and global bookings are up 150% on
Read MoreHIV/AIDS is no longer the leading cause of death for people in Africa, new statistics reveal. The World Health Organization's most recent data showed the crippling illness is now the second killer in Africa after years of campaigning for better contraception and education about the sexually-transmitted disease. Lower respiratory tract
Read MoreThe Permanent Secretary for the Ministry of Information, Communication and Technology says that details of nearly four million Sim Cards submitted by subscribers cannot be matched with the provided National Identification Numbers (NINs). Vincent Bagiire made the revelation while appearing before a parliamentary joint committee chaired by Tororo North MP
Read MoreThe Kampala Capital City Authority (KCCA) council on Wednesday appointed a four-member committee to study the upcoming festival and make recommendations on how "it can be owned by the authority rather than the Executive Director" Jennifer Semakula Musisi. The four committee members are Central Division Woman Councillor Fatumah Nsereko, Central
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