Category: BUSINESS

Kenya Warns 2,000 Products In Market Could Lose Their Trademark Rights

DailyNewsUG

By DailyNewsUGMore than 2,000 products, including global brands such as Vaseline, Smirnoff and Total Gas, risk losing their market protection in Kenya following the expiry of their trademark licences. The Kenya Industrial Property Institute (Kipi), the custodian of trademarks in the country, said it would clear 2,162 products from its register if their owners fail to renew their respective trademark licences by next Wednesday. “Where no application for renewal of a trademark published herein is received within 30 days from the date of this publication, the trade mark shall be…

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JAPAN debuts new BULLET TRAIN that can run during an EARTHQUAKE

DailyNewsUG

DailyNews Ug |JAPAN TECHNOLOGY| By DailyNews Ug Correspondent(DailyNewsUG) — Japan’s latest record-breaking bullet train doesn’t only run faster and smoother — it’s also able to transport passengers to safety in the event of an earthquake. The N700S — the ‘S’ stands for ‘Supreme’ — entered into service July 1 and serves the Tokaido Shinkansen line, which links Tokyo Station and Shin-Osaka Station in Osaka. It can run up to 360 kilometers per hour, a new record set during a test run in 2019, making it one of the fastest trains in the world.…

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Rwanda Air Set To Resume Commercial Flights In August 2020

DailyNewsUG

By DailyNewsUG Correspondent, Rwanda will resume commercial flights on August 1, four months since they flights were suspended on March 20 in a bid to stem the spread of COVID-19 in the country. Airport operations will adhere to the guidelines issued by the health ministry and recommendations of the International Civil Aviation Organization to ensure safety and health of passengers amid the pandemic, Ministry of Infrastructure said in an announcement on Saturday. All passengers including those in transit will be required to show proof of the negative result from a…

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CORONA VIRUS: Zimbabwe Re-Opens National Parks & Tourism Industry

DailyNewsUG

By DailyNewsUG Correspondent, Zimbabwe has lifted some Covid-19 restrictions by reopening its national parks to the public and allowing restaurants to start serving food within their premises. The parks and wildlife authority doesn’t receive state funding and relies on tourism to reduce poaching and keep them going. Zimbabwe’s parks and wildlife authority doesn’t receive funding from the government, it has to fund itself, mainly through tourism. But that income was heavily disrupted by the coronavirus lockdown, which saw all of Zimbabwe’s national parks shut down for three months. Director-general Fulton…

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Sudhir Lawyers Respond To BoU’s Statement Full Of ‘Inaccuracies’, Reveal 17 Reasons Why Shs379bn Case Was Dismissed

DailyNewsUG

By DailyNewsUG Business Correspondent Kampala Associated Advocates (KAA), the law firm representing city businessman Sudhir Ruparelia have responded to a statement issued by the Bank of Uganda’s  Governor, Prof. Emmanuel Tumusiime-Mutebile criticizing Court of Appeal’s decision dismissing the  case in which BoU (Crane Bank in receivership) sued the  businessman. In a well detailed statement, KAA lawyers say that the statement circulated by the Bank of Uganda to the media contained many inaccuracies and falsehoods. We reproduce the full statement below; We act for and on behalf of Dr Sudhir Ruparelia…

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The Axe Man Of URA: Rujoki Re-shuffles the Entire Customs Division Countrywide

DailyNewsUG

By DailyNewsUG Business Correspondent Mr. John Musinguzi Rujoki, the new Commissioner General of Uganda Revenue Authority and the 6th URA boss, who took oath of office on April 2, has been a very busy man. Round 1: When Mr Rujoki took over URA in March, he came with strict instructions to clean the tax body. Sources say Mr Rujoki spent nearly two months digging up information and “dirt” about “dirty” URA commissioners and their dealings. Untouchable Commissioner Dicksons Collins Kateshumbwa and Henry Saka, Silajji Kanyesigye Baguma, plus Samuel Kahima tendered…

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BANKING & COVID19 : Half of Ugandan Banks Fail Pandemic Liquidity Test

DailyNewsUG

By BERNARD BUSUULWA More than half of Uganda’s commercial banks would have collapsed if the Central Bank had enforced a three-month customer loans repayments holiday at the onset of the Covid-19 pandemic, the sector regulator has revealed. A stress test conducted on Uganda’s 25 banks showed most would not have survived the cash crunch since loan interest income accounts for 60 percent of their revenue. Results of the stress test informed the decision to spread customer loan restructuring over a 12-month period instead of offering an outright repayment holiday, Bank…

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BREAKING: Kenya Airways (KQ) On Sale

DailyNewsUG

By DailyNewsUG Business Correspondent, Kenya Airways has been making massive losses since 2014 and this has angered the government which owns a whooping 48.9% shares against 7.8% held by Air France-KLM. •  Kenyan MPs will now start debate on The National Aviation Management Bill 2020 as the National Assembly seeks to have the government take back full control of the national carrier by October. •  The loss-making airline, which is 48.9 percent government-owned and 7.8 percent held by Air France-KLM, was privatised 24 years ago but sank into debt and losses in…

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‘Crane Management Services Issues COVID-19 SOPs At All Its Properties’ – CEO Rajiv Ruparelia

DailyNewsUG

By DailyNewsUG Correspondent, As a way of resuming business amidst the Coronavirus (COVID-19) lockdown has issued Standard Operating Procedures (SoPs) to all tenants occupying their buildings around Kampala. Managing Director Crane Management services Rajiv Ruparelia revealed the new SoPs on Friday 26-06′ 2020, during which he noted that although they have put in place measures to prevent the spread of COVID-19, government has to intervene, such that in case landlords waive rent arrears, the Uganda Revenue Authority and utility providers should also give landlords a tax holiday. Rajiv said that…

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UWECs Flagship Chimp Zakayo’s Legacy Lives On in Entebbe

DailyNewsUG

By Titus Kakembo During his life, everyone who lived in Entebbe or visited UWEC and never saw Zakayo missed the symbol of the area. Not so long ago after his death, Zakayo’s name remains part of the Uganda Wildlife Education Centre (UWEC) as memories are still fresh with this celebrity chimpanzee somersaulting to impress visitors. As the leader of the group, he received young ones salvaged from poachers and helped assimilate them into his family. He raised his biological offsprings and adopted many whom he showed the ropes in the…

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