Author: citibusinessnews
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ADB sacks 15 management staff
ADB has sacked 15 of its management staff in what it says ‘is as result of its new organizational structure’. [contextly_sidebar id=”upsqtIJiH8g0o9TF5MXGjGeSnPYqE6eL”]The 15 workers Citi Business News can confirm were handed over their dismissal letters this morning. Citi Business News last month reported of moves by the bank to sack some 100 workers who engaged…
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CAL Bank drags University of Ghana to court over non-payment of loan
Cal bank has stated it will hurl the University of Ghana to court over the non-payment of money owed the bank. [contextly_sidebar id=”GKzftFQiFX0y51TYbfnYbCSfs1lk29sT”]The decision, according to the Managing Director of the bank, Frank Adu, has become necessary following the delay in the repayment of the loan facility the bank granted the institution towards the provision…
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DKM yet to fulfill payment of customers’ money
The management of DKM microfinance has once again failed to disclose when it will commence payment to customers whose monies have been locked up in the company. [contextly_sidebar id=”7sOBoT2SXOPOBdLGParXQXmij6NpYrq7″]The latest development follows the announcement of an injection of some investments into the operations of the company. The Bank of Ghana lifted the moratorium on the…
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Oil market dogged by supply glut
World oil prices declined on Tuesday, falling for the fifth straight session on long-running worries about a supply glut and a weak global economic outlook, dealers said. In midday deals in London, Brent North Sea crude for December dipped 16 cents to $47.35 a barrel. US benchmark West Texas Intermediate for delivery in December retreated…
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New UT boss to focus on SMEs
The newly appointed Chief Executive Officer of UT Bank Stephen Antwi Asimeng says he will focus on the Small and Medium Enterprises (SME) market to turn the fortunes of the bank around. [contextly_sidebar id=”no8GxwsBt7MOKxB8QAoeJvBizZO3Pcjs”]According the Stephen Antwi Asimeng his team looks forward to cost reduction elements which involves new initiatives like operational efficiencies focused on…
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UT bank’s COO named as new CEO of the bank
Citi Business News can confirm UT bank’s Chief Operating Officer Mr. Stephen Antwi-Asimeng will take over as the bank’s new CEO. [contextly_sidebar id=”Lgzdhh4Msvf0R6pDeK66KShzss6vYU3X”]Mr. Stephen Antwi-Asimeng will take over from Mr. Prince Kofi Amoabeng who will retire from the bank by the end of 2015. Mr. Stephen Antwi-Asimeng prior to his appointment as Chief Operating Officer…
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Cedi depreciation drives away benefit from declining oil prices
Some industry watchers in the petroleum sector have ruled out a possible decline in the prices of petroleum products at least with the continuous depreciation of the cedi. [contextly_sidebar id=”O8rQsj4mVtwcxgwPHbzjabIX6nMn6deL”]According to them, the situation will also come as a disincentive to consumers as they are likely not to benefit from the stability on the global…