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Bamson cuts price of Crown Paint to support housing sector

Bamson Company Limited, local representatives of Crown Paints, United Kingdom (UK), has announced a cut in the price of its newly introduced Crown Pure Brilliant White Matt Emulsion Paint in a move to help ease the increasing pressure on Ghana’s housing sector. Under the ‘Crown Special Promotion’, home-owners, housing companies, painters and all customers, who purchase the company’s new 10-litre ...

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Citi MDM ends with breakfast for managers under 40

The Citi FM Management Development Month (#MDM2014) ends today Friday June 27, with a breakfast meeting for managers under age 40. Speaking on the theme will be Chief Executive Officer of UT Bank, Martyn Mensah. This will be the last of the series which was made up of of both on-air and off-air events. Listeners have had the opportunity to listen to experienced ...

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[Infograph] Utility tariff trends since October 2013

The Public Utilities Regulatory Commission (PURC) has announced a 30% and 14% upward adjustment in electricity and water tariffs respectively for the third quarter of this year. But this adjustment will not be implemented. The commission indicates it will rather implement the second quarter price tariff adjustment of 12.09% for electricity and 6.1% for water which was deferred. With this ...

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Gov’t broke BoG’s forex rules – Financial analyst

Some financial analysts are accusing government of breaching the forex rules by the Bank of Ghana by sanctioning the airlifting of 3 million dollars to Brazil as payment for the Black stars. Government is pre-financing the payment of the Black Stars appearance fees which will be reimbursed when FIFA’s prize money for Ghana’s participation in the world cup is paid ...

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PPI for May hits 33.1%

The Producer Price Inflation (PPI) for the month of May hit a record high of 33.1 percent. This is the highest rate recorded since January 2010. The Producer Price Inflation measures the prices from domestic producers for their production of goods and services. The month of May’s PPI rate was up from a rate of 31.3 percent recorded in April. ...

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Go to IMF for bailout – Economist to gov’t

A senior Lecturer at the Economics department of University of Ghana, Dr. Eric Osei Assibey, has asked government to as a matter of urgency turn to the International Monetary Fund (IMF) for a bailout. According to him government’s attempts to stabilize the declining economy have still not yielded the needed results. Government is still struggling to reduce the huge budget deficit ...

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GUTA is acting in bad faith – Trade Ministry

The Ministry of Trade and Industry is accusing the Ghana Union of Traders Association (GUTA) of acting in bad faith. Thousands of traders in the major markets in Accra and Kumasi have closed down their shops in protest against government’s inability to remove foreigners in retail trading from the markets, and the recent hike in taxes. They are also protesting ...

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Finance workers to strike over VAT charges

The  Union of Industry, Commerce and Finance Workers (UNICOF) are threatening to embark on an industrial action next week if government does not suspend the proposed implementation of Value Added Tax (VAT) on financial services. This was contained in a letter addressed to the Managing Directors of 12 banks, the Minister of Finance and Economic Planning, the President of Ghana Association ...

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Ghana’s economic prospects still good – Kwame Pianim

Renowned Economist and Investment Consultant, Mr Kwame Pianim has urged investors not to view the country’s economic crisis in a pessimistic manner, maintaining that the country’s economic prospects are still good. Describing the current economic challenges as a blessing in disguise, Mr Pianim said the present conditions would spur people on to be more sensitive to the economy, adding “maybe ...

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Government defaults in payment of subsidized fertilizers

Citi Business News has learnt that the government has defaulted on payments for suppliers of subsidized fertilizers since 2012. This has led to the suspension of fertilizer supplies to fruit and vegetable farmers across the country, as suppliers demand for their outstanding arrears. Some farmers are going out of business following complaints about high cost of inputs and lack of ...

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Ghana Business News