Author: citibusinessnews
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How new taxes law will affect you
Majority of Ghanaians will be hit with massive increase in the taxes they pay following the implementation of the new income tax law by the Ghana Revenue Authority (GRA) to replace the repealed Internal Revenue Act, (Act 592). [contextly_sidebar id=”UFyMkkBxOU6pDEtpozHQrT599McWdVE3″]Per the new law, which took effect from January 1st 2016, a number of areas which…
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Ghanaian business & corporate giants we lost in 2015
They were giants in their own right and were well known to have played significant roles in the business and corporate worlds. [contextly_sidebar id=”IIKEfb3Z4SnP3CHp5wZQRKylE7wvWRrR”]But before the year 2015 came to an end they were called by our maker. In all two notable key personalities in the business and corporate world departed from earth in 2015.…
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Ghana among worst performing African countries in 2015- Groupe Nduom
Groupe Nduom Research (GN Research) analysis on various economies during the 2015 fiscal year is concerned about Ghana’s economic performance during the year. This research report was written taken into consideration that the 2015 fiscal year has been challenging for most developing countries including Ghana. Low commodity prices on the world market coupled with anticipation…
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Oil prices will reach $70 a barrel by 2020 – OPEC
Oil producers’ group Opec has said it expects oil prices to recover to $70 a barrel by 2020. [contextly_sidebar id=”vUZ7JA5lRHBnMqdLUvqa2RQ3H1n1V131″]Prices have fallen from more than $110 a barrel in the summer of 2014 to less than $37 a barrel now due to oversupply and slowing demand. But Opec said oil prices would begin to rise…
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June 3 flood: NIC orders Enterprise insurance to pay Alliance Motors customers
The National Insurance Commission (NIC) has directed Enterprise Insurance to pay up car owners whose cars were destroyed at Alliance Motors Ghana limited during the June floods. [contextly_sidebar id=”pzEP4mq0ujSXq92zEgVxSp6thMTEisLj”]Alliance Motors Ghana Ltd, dealers in Jaguar and Land Rover vehicles had refused to compensate clients who were affected by the floods and claimed the company’s insurance…
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NPRA injects cash into private pension funds
The National Pensions Regulatory Authority (NPRA) has transferred a total of GHS 193,116,008.95 to Licensed Trustees administering mandatory 2nd Tier Occupational Pension Schemes. [contextly_sidebar id=”LjicRyYv2RIC08rjncHK9Ij9rjlcY6W2″]The amount represents total funds transferred to Trustees in 2015. The Authority commenced the transfers in November this year after applicants (Licensed Trustees) had successfully gone through validation of data and…
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MTN doesn’t need to pay fine before deadline, says official
Nigerian authorities will wait for the outcome of a court challenge filed by MTN [JSE:MTN] before deciding on whether to enforce a $3.9bn (R59.24bn) fine, a spokesperson for the telecommunications ministry said. The ministry spokesperson contradicted a source in the Nigerian Communications Commission (NCC), who earlier said “appropriate action” would be taken against MTN if…
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ADB recommences IPO
The Initial Public Offer (IPO) of Agricultural Development Bank (ADB) has finally taken off. [contextly_sidebar id=”zpJo2gpl3a4C1ks1f6RA5U90R0gkzfyZ”]The launch follows approval from the Securities and Exchange Commission (SEC). The launch was been put on hold several times following a number of law suits filed against the bank for the move. The last suit that was filed against…
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Nigeria bans credit card use abroad
Nigeria’s central bank has ordered commercial banks to stop customers from using their debit and credit cards abroad, a source has told the BBC. [contextly_sidebar id=”pF2wl8H9jnZqHHhCpHvLlr26oMpqrIcF”]One bank has emailed customers to this effect, stressing it is a “temporary measure”. Access to foreign online retailers will also be affected when the ban takes effect on 1…
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ECG to meet stakeholders over electricity supply schedule during yuletide
The Electricity Company of Ghana (ECG) has told Citi Business News it is yet to decide on a schedule for the festive season following recent developments within the power sector. [contextly_sidebar id=”8XiOq2baoXI1ZGCz8cov7THaWT27SObW”]There have been growing concerns over the availability of power during the yuletide. Although the power barge is said to have commenced power generation,…