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BoG Governor justifies maintaining policy rate at 26%

Governor of BoG, Dr. Abdul-Nashiru Issahaku

The governor of the Bank of Ghana (BOG) Dr. Abdul Nashir Issahaku has justified why the Monetary Policy Committee kept the policy rate at 26%, unchanged. He argued that increases in ex-pump prices of petroleum products continue to impede the central bank’s disinflation process. Reacting to expectations that the policy rate should have rather been reduced considering the stability in ...

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File annual report in e-Register or face penalty-Registrar-General’s Dept warns

Registrar-General-s-Dept

The Registrar-General’s Department of the Ministry of Justice is urging all businesses, companies and partnerships to update their records, and file their annual reports into the new electronic e-Registrar by June 30th to facilitate proper monitoring of businesses in Ghana. A statement from the ministry copied to Citi Business News warned that failure to do so will attract a penalty from ...

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Ghana to submit counter defence in maritime border dispute

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Ghana will soon be submitting its counter-memorial (detailed defence) to that of Cote d’Ivoire at the International Tribunal of the Law of the Sea (ITLOS) in Hamburg. This is according to the Chief Executive Officer of the Petroleum Commission, Theophilus Ahwireng. According to him, the detailed defence will be Ghana’s response to Cote d’Ivoire’s defence of case on the boundary dispute ...

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Limit interference in National Airline – GCAA staff to gov’t

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The Staff of the Ghana Civil Aviation Authority want government to limit its interference in the management of the new national airline. The workers believe the fortunes of the defunct Ghana Airways and the Ghana International Airline should prompt government to limit its interference this time round and ensure continuity. Government through the Ministry of Transport is seeking a partner ...

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BoG announces policy rate today

Bank of Ghana

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will today announce its policy rate as it concludes the 71st regular meeting to review developments in the economy. Today’s media briefing on the policy rate which will be the second for Governor, Dr. Abdul  Nashir Issahaku, is among other things expected to address some major issues affecting the economy. ...

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GIPC defends Ghana’s tax exemptions regime

Mrs. Mawuena Trebarh, CEO of GIPC

 The Ghana Investment Promotion Centre (GIPC) has downplayed the IMF’s suggestion to Ghana to cut down on the number of tax exemptions allowed in the country. According to the Chief Executive Officer of GIPC, Mawuena Trebah, reporting controls have been instigated to ensure revenue accruing to the state from companies exempted from tax, are duly accounted for. “There are a ...

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FPSO John Evans Attah Mills to produce first oil in August 2016

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The Managing Director of Tullow Ghana, Charles Darku has told Citi Business News that production of oil will commence on the FPSO John Evans Attah Mills in the first week of August, 2016. Speaking to Citi Business News’ Norvan Acquah-Hayford who was part of a team of journalists who toured the vessel, Mr. Charles Darku assured that engineers on board ...

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Ghana’s second FPSO John Evans Attah Mills tour (Photos)

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Ghana’s second FPSO John Evans Attah Mills is expected to commence production of oil in the first week of August this year. This was disclosed during the tour of the facility by a team of media and officials from Tullow and other partners.   The FPSO is currently undergoing commissioning and testing to give way for the first oil to ...

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GSE blames ‘dumsor’ for poor performance in 2015

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The Ghana Stock Exchange has attributed its poor performance in 2015 to the power crisis and the cedi depreciation. The Ghana Stock Exchange was one of the poor performing exchanges in Africa last year. Figures from the GSE reveal that the exchanges’ Composite Index registered a negative return of 11.77 percent in 2015 compared to the 5.4 percent positive growth ...

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Ghana must follow example of Tanzanian on EPA-TWN

Coordinator of the Third World Network Dr. Yao Graham

The Third World Network has urged government to follow in the footsteps of some East African countries which have pulled out of the Economic Partnership Agreement (EPA) with the European Union(EU). Tanzanian authorities have said they were pulling out of the EPA with the EU bloc. The announcement made the east African nation, the second largest economy in the region, ...

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