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Day: October 16, 2020

Uganda’s Central bank says that no License is Needed for Foreign Lending

Uganda’s Central bank says that no License is Needed for Foreign Lending

Business, FEATURED, NEWS
 Uganda’s central bank said on Wednesday foreign-based banks do not need its license to lend funds originating abroad, reassuring an industry jolted by a court ruling last week that declared some syndicated loans involving foreign banks illegal. The loans affected by the Commercial Court ruling represent at least $1.5 billion worth of debt, according to an industry body. The Bank of Uganda said it did not regulate lending that involved “using funds obtained from foreign banks that do not take deposits from the public in Uganda.” “Foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities,” it said in a statement. “It is not mandatory for a foreign bank to establish a representative office in Uganda in order t
“Cristiano Ronaldo Breached COVID-19 Rules, says Sports Minister

“Cristiano Ronaldo Breached COVID-19 Rules, says Sports Minister

FEATURED, NEWS, SPORTS
Cristiano Ronaldo may have violated Italy's coronavirus preventive measures by traveling to Portugal while Juventus were in isolation, and returning to Turin this week after testing positive, Italy's sports minister Vincenzo Spadafora said on Thursday. "Yes, I think so, if there were no specific authorizations from the health authority," Spadafora told Radio Uno when asked whether the 35-year-old Portuguese star had breached COVID-19 rules. Ronaldo risks a fine after joining his national side last week despite Juventus being in isolation after two staff members tested positive. The five-time Ballon d'Or winner tested positive on Monday, the day after Portugal drew 0-0 with France in Paris, and returned to Italy on his private jet on Wednesday. Juventus president Andrea Agnelli...
Widad Babiker; Wife of Ex-Sudanese President Omar Al-Bashir Re-arrested over Corruption Charges.

Widad Babiker; Wife of Ex-Sudanese President Omar Al-Bashir Re-arrested over Corruption Charges.

FEATURED, NEWS, Politics
The Sudanese security forces have rearrested Widad Babiker, the wife of former President Omar Al-Bashir, just a day after she was released on bail, the Sudan Tribune Newspaper has reported. Babiker was freed on Tuesday after serving almost 11 months’ term in jail over financial irregularities and corruption charges, including those directly linked to the Sanad Charitable Foundation that she had chaired. The newspaper reported that, following Babiker’s release, law enforcement officers rearrested her on Wednesday as it was necessary to resume the investigation into her case. According to the source, the wife of the ousted Sudanese leader is currently in a critical health condition suffering from chronic diseases. The authorities, in turn, have not accepted repeated requests fro
Mabior Garang Resigns from his Position as National Chairperson of Information and Public Relations to protest ‘fake’ peace

Mabior Garang Resigns from his Position as National Chairperson of Information and Public Relations to protest ‘fake’ peace

FEATURED, NEWS, Politics
The SPLM-IO chairperson of information committee and ex-deputy minister of interior, Mabior Garang de’Mabior, is saying that he is resigning from his position in protest to the sticky implementation of the revitalized peace agreement. “In reference to the above subject, I am writing this memo to inform your Comradeship of my intention to resign from my position of Chairperson for Information and Public Relations,” Mabior said in a memo addressed to SPLM-IO chairman Dr. Riek Machar Teny. Mabior’s resignation came after several rumors last week that he has resigned from the main armed opposition group. But the senior member of the SPLM-IO denied in an interview on Wednesday that he has resigned from the group, accusing unnamed others within the group and the regime in Jub