The national carrier of Uganda, has signed a memorandum of understanding for two A330-800neo, the new version of the best-selling A330 widebody airliner, featuring new wings new Rolls-Royce’s latest-generation Trent 7000 engines, new systems and a new Airspace cabin interior, according to Airbus. The agreement was announced at Farnborough airshow
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The Governor Bank of Uganda, Emmanuel Tumusiime- Mutebile, has told distressed banks he did not name to stop wasting time begging for bailout, warning that that such move would be “extremely dangerous”. He made the remarks Tuesday at the second Uganda Bankers’ Association Annual Bankers' Conference at the Kampala Serena
Read MoreUganda has emerged the world’s 26th best travel destination 2018, according to one of the world's largest online travel websites. Flight Network ranked 50 of the World's Best Travel Journeys in 2018 with the help of 515 of the industry's leading travel professionals. Uganda came in at number 26 out of 2500 journeys evaluated. The
Read MoreBank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has revealed fresh details about the controversial takeover of Crane Bank by the Central Bank and its eventual acquisition by dfcu Bank. Mutebile said BoU had no option other than taking over crane bank He made the remarks this morning at the
Read MoreA lot of things are reportedly happening at dfcu, Uganda’s second largest bank by assets. Industry sources told this site last week that William Sekabembe, the Chief of Business and Executive Director resigned his job to join KCB as Managing Director. He reportedly served dfcu a three-month notice. Last week,
Read MoreSurvey: Interest Rates To Remain High, Businesses To Default More on Dollar Loans
Bank Lending Survey Report for the Fourth Quarter - FY 2017/18 released by the Bank of Uganda recently indicates that banks are expecting businesses to borrow more and at the same time default more on Dollar Loans. Findings from the survey for the period April – June 2018, as well
Read MoreFormer American President Barack Obama will this week return to Africa for the time since he left the top office. Below is his inspiring statement about his impending visit to Africa. This week, I’m traveling to Africa for the first time since I left office – a continent of wonderful
Read MoreThe Uganda shilling traded in a volatile mode amidst local and offshore selling during the week ending 13th July 2018. Broadly the unit bounced back sharply to trade in the range of 3760/3770. However, liquidity in the money markets remained tight. Overnight funds traded at 6% while one week funds traded at 9%.
Read MoreA top manager at Dfcu bank has quit his job to join another financial institution. William Sekabembe, who has been serving as the Chief of Business and Executive Director of the embattled DFCU bank resigned his job early this week to join KCB as Managing Director, an industry source told
Read MoreBanks Shun Private Sector As They Reap Big From Lending Gov’t
A new report has revealed how government is literally killing Uganda’s private sector and the economy at large. The Bank of Uganda (BoU) Supervision Report for 2017 released recently says that the significant increase in the banks’ investment in Government of Uganda and BOU securities, with a meager increase in
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