Author: Bobbie Osei
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Ghana likely to lose if ENI/Springfield impasse ends up in court – IES
Ghana could be the overall loser if the ongoing impasse between ENI Ghana Exploration and Production Limited, and Springfield Exploration and Production Limited, which has led to a delay in the unitization of their Afina and Sankofa oil fields, end up in the International Court of Arbitration. That’s according to the Executive Director of the…
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IES wants new evaluator appointed to look into ENI/Springfield impasse
Government is being urged to without delay, introduce a new evaluator to look into the ongoing impasse between ENI Ghana Exploration and Production Limited, and Springfield Exploration and Production Limited, which has led to a delay in the unitization of their Afina and Sankofa oil fields. The directive to unify the two oilfields was given…
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Increased manufacturing pushes PPI for April to over 11%
The average price of goods and services received by domestic producers in the country for their production activities, in the month of April 2021 went up by 11.1%, when compared with the prices received by the producers in April 2020. The increase in prices which brings the producer price inflation rate for April 2021, to…
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Invest in effective systems to detect fake currencies – E-crime Bureau to businesses
Cyber Security firm, E-crime Bureau has charged the over 200,000 mobile money agents across the country and businesses to invest in tools and systems such as money counting machines to detect fake currencies being introduced into the system by unscrupulous characters. Earlier this month National Security busted a 13-member gang involved in the printing and…
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Economists back calls by IMF for reduction in Ghana’s rising debt
Some economists in have backed calls by the International Monetary Fund (IMF) for Ghana to take immediate steps to reduce the country’s debt and debt servicing burden. The International Monetary Fund Staff Mission to Ghana, in its concluding statement following a visit to the country from April 28 to May 12, 2021, for the 2021…
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IMF Staff Mission reiterates calls for measures to reduce Ghana’s debt
The International Monetary Fund (IMF) Staff Mission to Ghana, has charged government to without delay implement the needed measures that will lead to a reduction in government’s overall debt as well as its debt servicing burden. The remarks were contained in a statement by staff of the IMF at the end of an official visit…
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GUTA cautions against reversal of 50% reduction in benchmark values
The Ghana Union of Traders Association (GUTA), is cautioning government against any attempt to reverse the 50% reduction in benchmark values. The warning, according to GUTA, follows attempts by the Association of Ghana Industries (AGI) to get government to cancel it. Benchmark values are reference values that Customs uses in determining taxes and duties on…
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Companies urged to abide by unclaimed dividend provisions in new Companies Act
Companies who are expected to pay dividends to their shareholders are being cautioned against flouting Sections 73 and 74 of the new Companies Act, Act 992. According to the Act, all unclaimed dividends are to be handled in a standardized manner which will ensure the dividends are kept for a period of up to 8…
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Reduce cost of power to curb beverage price hikes – Association appeals
The Food and Beverages Association of Ghana has called on government to halt any increases in the cost of electricity and water, to prevent another increase in the prices of beverages in the country. The remarks come on the back of recent increase in the prices of some alcoholic beverages by as much as 20%…
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Aker Energy to submit revised plan of development to Government of Ghana
Two years after its initial Plan of Development to facilitate the optimization of the Deepwater Tano/Cape Three Points (DWT/CTP) block was rejected by government, Aker Energy is set to submit a revised plan of development to government by the end of this year. This was disclosed in a press statement issued by Aker Energy Ghana…