Author: citibusinessnews
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Economists want policy rate reduced
Economist Dr. Ebo Turckson, has called on the Monetary Policy Committee (MPC) of the Bank of Ghana (BOG) to reduce the monetary policy rate. According to him, the current inflationary trends and a stable currency should be reasons for the MPC to reduce the policy rate. The Bank of Ghana’s monetary policy committee is to…
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Gold Smuggling : Minerals Commission to punish culprits
The Minerals Commission has served notice to deal with any person or companies found culpable in smuggling gold out of Ghana. According to the Commission, the country stands to lose huge revenue as long as smuggling continues. The Commission’s warning comes after the country lost an average of 1.925 billion dollars from the smuggling of…
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Insurance companies to boycott high risk areas
Insurance firms have cautioned of plans to shy away from insuring businesses situated in flood prone areas and market centers with inaccessible routes describing them as high risk areas. [contextly_sidebar id=”YLi892PiSsINieHxgIaPaWFnl8RynrlD”]Concerns have been raised over the need to insure market centres to provide relief to businesses who fall victim to fire outbreaks in those places.…
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Zimbabwe: U.S$15 Billion Diamonds Looting – Was Mugabe in a Coma?
PRESIDENT Robert Mugabe’s remarks that more than US$15 billion worth of diamonds were produced but little accounted for is the clearest indication yet that he is now a national liability beyond measure and his continued stay in office is of great harm to the country’s interests and prospects of economic recovery. For him to say…
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Algeria’s Foreign Exchange Reserves Down to U.S.$ 143 Billion Late 2015
Algeria’s foreign exchange reserves dropped to US$143 billion in late 2015, down by US$35 billion in one year, said Monday in Algiers the representative of the International Monetary Fund (IMF). “The foreign exchange reserves are indeed still at a high level but they dropped by US$35 billion in 2015, down to US$143 billion against US$194…
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Algeria: Textile Industry – Several Public-Private Partnership Agreements to Be Signed By June
Partnership agreements in the sector of textile will be signed by June between national public and private operators, announced Minister of Industry and Mining Abdessalam Bouchouareb, while underlining the need for foreign partners. “We are preparing three to five public-private partnership agreements on projects in textile industry. The participation of foreign partners is necessary to…
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Egypt: CBE Depreciates Egyptian Pound to 8.85 Per Dollar – Sources
Cairo — Egypt’s central bank has devalued the Egyptian pound on Monday to change hands at EGP 8.85 per dollar down from EGP 7.73,according to sources in the bank. In an exceptional auction on Monday, the Central Bank of Egypt (CBE) said it will sell around $200 million at the new exchange rate of 8.85…
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Tunisia: Food Trade Balance – Coverage of Imports Through Exports Drops to 80.6 Percent
The coverage of food imports through exports has dropped in the first two months of 2016 to 80.6% from 123% in the same period in 2015, according to data from the Ministry of Agriculture, Water Resources and Fisheries published Saturday. The Department explains this decrease by the significant decline in export revenue (-41%) and imports…
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Africa 2016: Business for Africa, Egypt and the World
At the invitation of the President of the Arab Republic of Egypt, Abdel-Fattah El-Sisi, African Heads of State and thought leaders, investors and partners gathered in the Red Sea resort on February 20 and 21, 2016 for the “Africa 2016: Business for Africa, Egypt and the World” conference. The goal of the meeting: to accelerate…
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