BUSINESS Archives - Whisper Eye

Category Archives: BUSINESS

Bruised Hong Kong’s Lam caves to pressure on extradition bill

With an escalating U.S. trade war, a faltering economy and tensions in the South China Sea vexing her bosses in Beijing, Hong Kong leader Carrie Lam appeared in no mood to compromise on a planned extradition law at recent meetings, according to foreign envoys and business people who met with her. Some of the people at those meetings in recent weeks pointed to media reports that even Hong Kong’s usually reticent judges were worried about the proposed law which threatened to send people for trial in mainland China for the first time.

But Lam bluntly dismissed concerns about a Chinese justice system that is widely criticized for forced confessions, arbitrary detentions and one-sided trials, saying judges were not supposed to speak.

Uganda: How 2019/2020 Budget will be financed

Government plans to collect 20.4 trillion Shillings with over 18.87 trillion coming from tax revenues in the coming financial year.

Only 1.5 trillion Shillings is expected from Non-Tax Revenue (NTR) sources, so as to finance the 10.48 trillion Shilling 2019/2020 financial year budget.

Uganda Revenue Authority (URA) is set to collect all Government revenues including Appropriation in Aid (AIA) which has been currently collected by different government entities.

Uganda increases Agriculture Budget to 1 Trillion shillings

Government has allocated 1 trillion shillings for the Agricultural sector in the financial year 2019/2020. Agriculture last year was allocated 893 billion shillings.

The Finance Minister Matia Kasaija on Thursday said that the increment is meant to boost the Agriculture sector.

Uganda allocates UGX 200bn for 2021 elections

The Government has allocated 223 billion shillings for the implementation of the Electoral Roadmap for the 2021 General Elections.

This was revealed by the Minister for Finance, Planning and Economic Development Matia Kasaija on Thursday during the presentation of the budget for financial year 2019/2020.

The Construction of UGX 23bn Kitgum market kicks off

The market is being constructed under the second phase of the Market and Agricultural Trade Improvement (MATIP) program with funding from the African Development Bank. 

Chinese State Construction Engineering Company limited (CSCECL) has been contracted to construct the 23.8 billion shillings market which will be completed in 24 months.  

Mobile money operators hire guards to deter gun men – Uganda Police

 The Police has advised operators of mobile money to hire private security guards.

The development comes in the wake of rampant mobile money attacks. Armed thugs have in the last three weeks shot, killed over seven mobile money and hardware operators in Kampala and its outskirts.

BoU Governor Mutebile advises public on new Kenyan bank notes

The Bank of Uganda Governor Emmanuel Tumusiime Mutebile has advised the general public to take note of the changes made by the Central Bank of Kenya on its currencies.

In a media release circulated on June 12, Mutebile urged the public to be vigilant when transacting in the Kenyan currency.

Kenya currency suspension disrupts businesses , money changers in Uganda

 Businesses and money changers have suffered major disruptions following the suspension of the Kenyan currency conversion in Uganda.

Consequently, many have seen the value of their money fall but also had to contact their friends near the border to help them do conversions in Kenya.

In a statement issued last evening, Bank of Uganda said it had been informed by the Central Bank of Kenya (CBK) that they have issued a new series of banknotes effective May 31, 2019, with a view to combat illicit flows and counterfeits into Kenya.

Uganda Entebbe Airport Cargo Centre Nearing Completion

Construction of a new cargo centre at Entebbe International Airport is almost complete, the Civil Aviation Authority has said.

The cargo centre is part of the 720 billion Shillings project undertaken by China Communications Construction Company to expand and upgrade Entebbe International airport.

Vendors and Hawkers petition parliament over brutality

Fuba Tukole Hawkers and Vendors Association have petitioned the Speaker Rebecca Kadaga over mistreatment by Kampala Capital City Authority-KCCA enforcement officers.

The association spokesman, Emmanuel Tebajjuka and the system strategic officer, Uwiweze Kalera told Kadaga on Monday that the officers harass, torture, injure hawkers and vendors who in some instances have lost their lives.

Oil palm environment officer dismissed for allegedly sharing employer contacts with Journalists

Oil Palm Uganda Limited has dismissed the company Environment Officer, Richard Ssenkooza for allegedly sharing employer’s contacts with journalists.    

Oil Palm Uganda Limited is a subsidiary of Bidco Uganda Limited – BUL and Wilmar International, the largest palm oil growing firm in Africa. Ssenkooza’s fate was sealed by Sardin Damanik, the General Estates Manager of Oil Palm Uganda Limited and Human Resource Manager, Abbey Mukalu.   

Uganda and Tanzania suspend conversion of Kenyan shillings

Uganda has joined Tanzania to suspend the conversion of Kenyan Shillings as a measure to stop the rush to wash in illegally got cash in neighbouring countries after Kenya decided to issue newer series.

In a statement last evening, Bank of Uganda said it had been informed by the Central Bank of Kenya (CBK) that they have issued a new series of banknotes effective May 31, 2019 with a view to combat illicit flows and counterfeits into Kenya.

More than 5000 people sign petition to stop planned power dam in Murchison falls

At least 5,000 people have signed a petition to stop the planned construction of a power dam near Murchison Falls, which could see the disappearance of the falls, a key attraction to the area. This overshoots the petitioner’s target of 2,500 people.

The petition was put online by Amos Murungi, who describes himself as an environmentalist, after Electricity Regulatory Authority-ERA published a note inviting public views on the planned feasibility study in the area by a South African firm that would eventually construct the power dam.

Kabaka Mutebi calls upon gov’t to consider Masaka for city status

The Kabaka of Buganda; Ronald Muwenda Mutebi II has expressed concerns over delays to elevate Masaka Municipality to a city.

Last month Cabinet approved the creation five cities in the 2020/2021 financial year.

However, Masaka Municipality was omitted despite demands by its leaders to government to have the town elevated.

Uganda Airlines uncertain of first commercial flights , says CEO

Uganda Airlines is uncertain on whether the revived National Carrier will be launching its first commercial flight in July as earlier expected. This is due to delays in acquiring the Air Operator Certificate- AOC among other requirements.

The Uganda Airlines Chief Executive Director, Ephraim Kalyebara Bagenda says that they are behind schedule.

Gov’t completed only four irrigation schemes , Museveni silent

Museveni in his State of the Nation said  Doho Irrigation scheme in Butalega district, Mubuku Irrigation scheme in Kasese district, Agoro in Lamwo district and Olweny in Lira district were complete.

He said physical works for Mubuku II and Doho II were on going.