Binance, the world's biggest crypto-currency exchange, has been banned by the UK's financial regulator. The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any "regulated activity" in the UK. It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns
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A Pearl Dairy official showcasing the new system Pearl Dairy Farms Limited (PDFL), Uganda’s largest Dairy processor and the manufacturer of Lato Milk branded products, has unveiled the addition of a new Shs9.25 billion Tetrapak Edge production line to its facility. The line is the first of its kind in East
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Finance Minister Matia Kasaija The Government of Uganda has guaranteed eight projects worth Shs9.5 trillion under the Public-Private Partnership (PPP) contracts arrangement. This revelation is contained in Finance Ministry's contingent liabilities annual field report for 2019/2020 that was released in March 2021 but only uploaded online recently. As at end November 2020, there were 8
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There was an increase in the stock of outstanding quantifiable legal proceedings by 10 % to Shs10.407Trn as at end June 2020 from Shs9.461Trn as at end June 2019, the Ministry of Finance, Planning and Economic Development has revealed. According to the Ministry of Finance, these exposures from legal claims were accumulated
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As the debate over the efficacy of Covidex in the treatment of COVID-19 rages on, the Pharmaceutical Society of Uganda and a leading herbal medicine expert say that the remedy is safe for use in People battling COVID-19. The National Drug Authority (NDA) mid this month banned the use of
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Kasana Police Station in Luwero town faces eviction for failure to meet rent obligations. The station has been renting space from a commercial building owned by cissy Luwedde, along Kyebutika road in Luwero town since 2003. Luwero Town Council committed to paying its rent bills amounting to 2.4 million Shillings
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The High Court in Kampala has awarded ten million Shillings to each of the eight men who were arrested in 2011 on charges of treason, which were dropped eight years later. The eight include Warrant Officer II Atunga Bantu, Boniface Mumbere Kinyambila, Abel Kacwano Kazoora, Simon Matte Mwesigye, Esau Tugumisirize
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The Executive Board of the International Monetary Fund (IMF) completed yesterday the first reviews of the 38-month Extended Arrangement under the Extended Fund Facility (EFF) and 38-month arrangement under Extended Credit Facility (ECF) for Kenya. The Board’s decision allows for an aggregate immediate disbursement of US$ 407 million (about SDR 285
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Stanbic Bank says it will give capital for oil and gas developments in Uganda. The Bank’s stand comes amidst growing opposition against fossil fuels including oil and gas in favor of renewable energy. Stanbic, part of Standard Bank Group says it can offer up $70 million to a single company
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The High Court in Kampala has ordered the government to compensate one Moses Besimira with 225 million Shillings for illegally impounding his vehicle ten years ago. Besimira reported a case of a missing vehicle registration number UAK 588G, Mitsubishi Fuso at Central Police Station Kampala on September 8, 2011. The
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