Author: citibusinessnews
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![Veep visits Starbow accident site [Photos]](https://citibusinessnews.com/wp-content/uploads/2015/01/Starbow-1-1.jpg)
Veep visits Starbow accident site [Photos]
The Vice President Kwesi Amissah-Arthur has visited the site where the Starbow plane, crashed through the runway barrier at the Tamale Airport on Tuesday. Passengers on the Starbow flight were disembarked hurriedly to safety after the flight, S9110, had an accident just when they touched down. The Vice President was in Tamale yesterday [Monday] for the…
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Starbow plane crashes through runway barricade
Terrified passengers on a Starbow flight from Accra to Tamale were disembarked hurriedly to safety after the flight, S9110, crashed through the barricade of the runway, Tuesday morning. [contextly_sidebar id=”9AhjJgEhVdBZRQGaQWV2MCNTLtirhnpI”]Starbow’s Chief Executive officer, James Eric Antwi, confirmed the “minor incident” in a statement on Tuesday. The statement said the BAe aircraft with registration 9GSBB, went…
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Investors ditch Ghana’s fourth Eurobond
Government’s bid to launch its fourth Eurobond has failed after foreign investors have ditched the bond. [contextly_sidebar id=”rB9ZqgQ4gq8wBsPJLHx4v40QR7oqGO1J”]Government was forced to abandon the bond issue after most investors showed poor interest, while the few that did offered a much higher yield than expected citing poor economic fundamentals for their move. Top government officials led by Finance…
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US interest rates hike will crush cedi – Economist
An Economist Dr. Ebo Turckson has predicted the cedi’s current stability may come under threat if the US Federal Reserve (FED) raises its rates. [contextly_sidebar id=”nsZuJej2zYLE9TpIpAiYSJ8IB4exYFkf”]According to Dr. Ebo Turckson the hike will create some artificial shortage as demand for the dollar will be on the high side. Despite expectations that the FED will increase…
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PWC endorses Qatar Airways for new national airline bid
Citi Business News has gathered that PricewaterhouseCoopers (PWC) has settled on Qatar Airways as the best option for Ghana in its quest to find a partner for the new national carrier. [contextly_sidebar id=”GLmcFCe3aA30XRBqSULv5NWtTOdhZF4i”]Citi Business News has learnt PWC in its final feasibility report submitted to the transport ministry also named 7 other airlines including Delta…
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Govt announces more than 21% increment in cocoa producer price
Government has sanctioned 21.74% increase in the producer price of cocoa for the 2015/2016 crop season effective October 2, 2015. [contextly_sidebar id=”I2MammCpm4DCpO4lxEFwiel7lyTjwKmB”]The Producer Price Review Committee (PPRC) on cocoa has agreed on the upward adjustment from 350 cedis to 420 cedis on a 64 kilogram bag of cocoa. The current price per tonne is 6,720…
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Tullow share price soars as lenders maintain debt capacity
Tullow Oil Plc announced today that its lending banks have decided to maintain the firm’s available credit capacity at $3.7 billion following a routine half-annual reserve-based lend redetermination process. [contextly_sidebar id=”L9rWVpcqDZTmkxyD9HJKzbtrHpfHGcwu”]The banks’ decision was welcomed by Tullow, which has suffered from the plunge in oil prices over the past year. “Today’s announcement demonstrates the robustness…
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Volkswagen scandal: France opens inquiry into ‘deception’
French authorities have opened an inquiry into Volkswagen over the rigging of emission tests. [contextly_sidebar id=”0vKWTViI4vdfaT9q9vJr8FFjU4ugJElx”]The Paris prosecutor said it was investigating suspicions of “aggravated deception”. Last month VW admitted that 11 million of its vehicles were fitted with devices which allowed them to cheat emissions tests. Also on Friday Swiss authorities have ordered a…
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Gold poised for biggest weekly loss since March
Gold headed for the biggest weekly decline in almost seven months as investors looked to the US nonfarm payrolls report Friday for signals on the strength of the economy, which will help determine when the Federal Reserve raises interest rates. [contextly_sidebar id=”bspxfRclbdxCG5AZNuxh8e29EFk9MzgW”]Bullion for immediate delivery retreated as much as 0.5% to $1 108.43 an ounce,…
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Govt declares growing unemployment rate a national security threat
The Ministry of employment and labour relations has described the growing unemployment situation in the country as a crisis and a national security threat. [contextly_sidebar id=”mXXIopRJokF1VWLcPyEXNQXWqa01ZRZx”]Unemployment Rate in Ghana averaged 8.82 percent from 2001 until 2013, reaching an all time high of 12.9 percent in 2005 according to figures from the Ghana Statistical Service. “We…