Russia's economy is facing a "time bomb", as sanctions escalate and interest rates remain high. Businesses around the country are struggling to pay back loans and are fighting to stave off bankruptcy.Firms have watched on helplessly as interest rates were hiked to 21% towards the end of 20
Abraham Luzzi, the aspiring Kampala Central Member of Parliament, has taken aim at Uganda’s entertainment industry, accusing many artists of living beyond their means and failing to convert their fame into sustainable income.Luzzi argued that although Uganda is filled with talented and w
Russia's economic crisis is intensifying with thousands of companies reportedly facing bankruptcy. Businesses have been hit by a double whammy of sanctions and high interest rates, since the outbreak of the full-scale war in February 2022.The key interest rate rose to a staggering 21% last
Profit-taking saps metal’s strengthBengaluru — Gold prices slipped on Wednesday, pulled down by a rebound in the dollar and profit-booking after bullion rose to a near three-week high in the previous session on the expectation of interest rate cuts by the Federal Reserve next month.
Xpeng XPEV stock jumped 18% to three-year highs on record deliveries and humanoid robot technology. Up 130% YTD, outperforming Chinese EV rivals.TLDRXpeng (XPEV) stock jumped 18% Tuesday to its highest price since July 2022October deliveries hit 42,013 vehicles, up 76% year-o
A European NGO has offered €10,000 (UGSh 40 million) for a decisive tip leading to tracing Dutch national Sophia Koetsier, who disappeared in Uganda in 2015.On October 28, 2015, 21-year-old Dutch national Sophia disappeared in Murchison Falls National Park, Uganda. Despite several search
How government’s borrowing spree is leaving citizens bearing the country.At dawn, the roar of engines rises above the quiet streets of Entebbe as David Tumusiime, 47, prepares for his daily commute to Kampala. Like thousands of other motorists, he joins the line snaking toward the Enteb
Lukoil said Thursday it had accepted an offer from global commodity trader Gunvor to buy its foreign assets, which Russia’s second-largest oil company is seeking to sell after Washington imposed sanctions on it last week.The planned asset sale is the most consequential action so far by a
Denis Tukahikaho Ph.D. is an expert on Cooperatives, Financial Inclusion and Renewable Energy InvestmentKAMPALA – The Green Climate Fund (GFF) has approved a USD 31 million (UGX 107.7 bn) as a result-based payment for Uganda in recognition of measurable success in reducing deforestation
Washington and Seoul brokered a historic $950 billion deal, bringing the two nations closer in both trade and military alliance. South Korea will pay $350 billion upfront to lower tariffs implemented by the USA. Hundreds of billions will flow between the nations as trade once again acts as the gr
