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Day: June 23, 2020

Trouble For BoU After Court Of Appeal Dismisses Shs397Bn Case Filed Against Tycoon Sudhir

Trouble For BoU After Court Of Appeal Dismisses Shs397Bn Case Filed Against Tycoon Sudhir

FEATURED, NEWS
By Keefa Nuwahereza The court of Appeal on Tuesday morning dismissed an appeal that had been filed by Bank of Uganda, contesting a 2019 ruling by High Court Justice David K. Wangutusi,  in which he ruled that Bank of Uganda had no legal capacity to sue Sudhir Ruparelia on behalf of Crane Bank, which was under receivership. The Matter arose from a case filed by BoU against Sudhir in 2016, alleging that the tycoon and others had pocketed Shs397Bn from Crane Bank prior to its being wound up and sold to dfcu  Bank. When Justice Wangutusi dismissed the case with costs after BoU lawyers failed to adduce enough evidence to back up their allegations, BoU officials decided to appeal the ruling, which resulted into the dismissal of their Appeal today by the a Panel of  thre...
Covid-19 Pandemic Deepens Need For Low Cost Effective Remittances

Covid-19 Pandemic Deepens Need For Low Cost Effective Remittances

Business, FEATURED
By Elite News Reporter As the world commemorated the 2020 International Day of Family Remittances (IDFR) on June 16, in this game changing year, it is important to draw attention to the millions of migrant workers globally who play a vital role in global economies, says the UN. Countries around the world went to battle with a novel virus that emerged late in 2019 in order to save millions of lives, enforcing strict stay-at-home measures to curb the virus’s  spread. As a result economies globally came to a complete or a near-complete standstill. This will have directly impacted the more than 200 million migrant workers who support their 800 million family members back in their home countries (United Nations, 2020). In April, the World Bank predicted the sharpest decline
Full Speech: Museveni Threatens To Reinstate Lockdown If Ugandans Don’t Adhere To MoH Guidelines On Fighting COVID-19

Full Speech: Museveni Threatens To Reinstate Lockdown If Ugandans Don’t Adhere To MoH Guidelines On Fighting COVID-19

FEATURED, NEWS
President Yoweri Museveni has threatened to reinstate the COVID-19 lockdown he announced in March this year if Ugandans are not disciplined enough to adhere to guidelines that were issued by the Ministry of Health in order to prevent the spread of Coronavirus. The President made these remarks during his 16th National Address on Coronavirus which he delivered on Monday June 22, 2020 and here below is his full speech; Countrymen and countrywomen. Greetings from the Government and the political leadership of the country. Congratulations on our battle against the corona-virus, against the floods, against the rising waters of the Lakes and the Rivers, against the land-slides, against the floating islands and against the locusts. The locusts have been defeated by the UPDF and the flo...