UTN News

IAAF AID UGANDA SHILLING GAIN AGAINST DOLLAR

By UTN Business Reporter

Kampala - The Uganda Shilling has significantly gained value in relation to the US Dollar in a space of 3 days. The Uganda Shilling by Thursday traded at 3,590.79 / 3,600.70 as compared to Tuesday at 3,591.35 / 3,601.35 buying and selling respectively.

The positive trend has largely been attributed to increased inflows of the dollar brought in by foreigners coming into the country for the IAAF World Cross Country event slated for this Sunday.

The Uganda Shillings has been flat for a while, and traded lowly.

A financial expert Lawrence Gidudu predicts that the Shillings is likely to remain constant as inflows and outflows will remain balanced The Bank of Uganda Treasury bill auction increased to up to Sh 165bn.

News

AMISON MOURNS MAJ GEN KARUHANGA

The African Union Mission in Somalia has mourned the passing on of Maj Gen Levi Karuhanga, the first Commandant of the Mission in 2007. Maj Gen Karuhanga established the working formulae in Somalia for the Peace Mission, which all his successors have held. The Special Representative of the Chairperson of African Union Commission (SRCC) for Somalia Ambassador Francisco Madeira says

DP DISAGRES WITH PRESIDENT MUSEVENI ON MURDER

BY Steven Owere and Mamdan Matte

The Democratic party, DP has disagreed with President Museveni’s stamen in which he attributed the Murder of

GRADUATED TAX BACK

Civil Society Budget Advocacy Group [CSBAG] is calling for the return of Graduated Tax to help widen what they say is an increasingly narrow tax base for the economy. Officials from CSBAG say Graduated Tax is one of the progressive taxes that contributed greatly to the growth of the country’s economy, since every individual of the required age would pay it directly.

Government Increasing Internet Services

Masaka- Government has stepped up efforts to spreading the national e-government infrastructure throughout the country to connect its offices to a much cheaper internet service. Under the project whose phase three is now commencing in the Southern and Central part of Uganda, Districts, Sub Counties and Municipal Council offices will be connected to the fiber cable network.

ISLAMIC BANKING IN UGANDA AS GOVT CONSIDERS SCRAPING TAXES ON LOANS

Government is committed to examine its taxes onto the loans to ensure that taxation is not a hindrance to the Islamic Banking. The Director of Economic Affairs at the ministry of Finance Lawrence Kiiza revealed

Dr Rugunda warns aspirants On violence

The Prime Minister Dr Ruhakana Rugunda, has warned Politicians involved in campaigns against promoting violence and hatred among the electorates.

URA PLACES WBS UNDER RECIEVERSHIP

WBS Television has taken a turn for the better in the first receivership engagement in Uganda.

The move was revealed today in a press briefing by a joint team of URA officials, Uganda registration services bureau and the WBS TV administration.

KASINGYE REPLACES KAWEESI

By UTN Reporter

Naguru - The Inspector General of Police Gen Kale Kayihura has appointed AIGP Asan Kasingye to replace the slain AIGP Andrew Felix Kaweesi.

AFRICAN AVIATION BODIES CALL FOR STATE FUNDING

Theft, security and lack of funding for training human resource are some of the various challenges faced by the aviation industry on the African continent. The president of the Association of African Aviation Training Organizations, Tchagbele Sadamba says the future of Africa's aviation industry lies in continuous training of aviation personnel to match the changing technological trends in the industry.