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ETI tops all on GSE

Ecobank Transnational incorporated (ETI) recorded the most impressive performance on the Ghana Stock Exchange (GSE) in the month of June. The bourse in all returned about 5 percent for financial stocks. The total market capitalization increased to 62.8 billion cedis from May, 2014 to 62.5 billion cedis in June this year. 6 out of 10 companies that recorded gains were ...

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Organized Labour to strike over pension funds

Organized Labour has given government a two week ultimatum to allow workers manage their funds under the National Pensions Act of 2008. Workers under the act are required to contribute 5.5 per cent of their earnings into a private fund as part of a mandatory second-tier programme. The pension scheme is currently managed by the National Pensions Regulatory Authority (NPRA) ...

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GSS to spend $20m on agricultural census

Ghana Statistical Service (GSS) is to spend $20 million on the on-going Agricultural Census spanning 2014-2017. Mr Anthony Amuzu, Director of Survey Organization and Census Directorate, said the census is being undertaken by the GSS and the Ministry of Food and Agriculture with technical support from the Food and Agriculture Organization (FAO). At the Inauguration of the Western Regional Management ...

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17.5 percent VAT postponed until further notice

The Ghana Revenue Authority (GRA) has deferred the implementation of the 17.5 percent Value Added Tax (VAT) charges on non-core financial services. The GRA in a statement noted that suspension of the implementation will allow for more time for public education and adequate preparation by the banks for a smooth implementation. ” After a careful evaluation of progress of the ...

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Govt challenges Moody’s downgrade

Moody’s Investors Service has downgraded Ghana’s sovereign rating to B2 from B1, citing the country’s rising debt burden and deteriorating debt affordability. In its report, Moody’s stated that the primary driver of its decision to downgrade Ghana’s sovereign rating to B2 was the country’s high and rising debt burden and deteriorating debt affordability. The report indicated that the rating agency ...

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Don’t blame Chinese traders for ‘cheap goods’

The Secretary-General of the Ghanaian community in the People’s Republic of China, Mr Appiah Kubi, has said contrary to the view held in Ghana that Chinese goods are inferior, it is the Ghanaian trader who determined the specifications of the goods to be supplied. He said any defect in the quality of goods imported into Ghana must, therefore, be blamed ...

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GPHA to set up port training school

The Ghana Ports and Harbours Authority (GPHA) has signed a Memorandum of Understanding (MoU) with the Netherlands government for the establishment of a Port Training Institute (PTI) to impart practical knowledge into personnel who will handle the day-to-day activities of our ports. Mr. Richard Anamoo, Director General of the GPHA, signed for his outfit, while Ms. Lilliane Ploumen, Netherlands Minister ...

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Parliament passes Excise Bill 2013

Parliament yesterday passed into law a bill to exert punitive measures on persons who manufacture excisable goods in the country without registering with the Ghana Revenue Authority (GRA). The Excise Bill, 2013, enjoins manufacturers to file their excise duty returns for each calendar month not later than the 21st day of the following month, whether or not an excise duty ...

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Moody’s cuts Ghana’s sovereign rating

Moody’s Investors Service has downgraded Ghana’s sovereign rating to B2 from B1, citing the country’s rising debt burden and deteriorating debt affordability. The key drivers of today’s rating action are the following: 1) Ghana’s deteriorating fiscal strength, as reflected in the rising debt level and worsening debt affordability amid persistently high fiscal deficits. 2) The increase in Ghana’s vulnerability to shocks ...

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Martyn Mensah inspires new generation of managers

He is ranked 3rd on the current PWC list of “Ghana’s Most Respected CEO’s. This is a summation of a man who inspires thousands of young Ghanaians who are in the workforce ‘jungle’ hoping to climb to the top. Mr. Mensah climaxed Citi FM’s month-long Management Development Month series which grabbed the attention of any serious entrepreneur, leaders, students, managers, ...

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