Author: citibusinessnews
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NCA fines Airtel ¢50,000 over quality of service breach
Telecom operator Airtel has been fined GH¢50,000 by the regulator of the telecom industry the National Communications Authority (NCA) for failing aspects of the authority’s quality of service tests. [contextly_sidebar id=”s9CAVbgoyXeBXyOiO8LXbeHlgozAEN6A”]Airtel the fourth largest telecom operator in the country was hit with the fine after it failed the NCA’s Stand-alone Dedicated Control Channel (SDCCH) Congestion…
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Interest rates to shoot up as BoG hikes policy rate
As the debate on whether or not commercial banks should increase their base rates or not following the Bank of Ghana (BoG)’s hiking of its policy rate, Managing Director of HFC bank Robert Le-Hunte, has told Citi Business News it will be difficult for banks not to increase their interest rates. [contextly_sidebar id=”C14Y4yFbeYyaU8vjDMQI0ZSWhygZWMVU”]According to Robert…
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Starbow receives IATA Operational Safety Audit certificate
Starbow has received the IATA Operational Safety Audit (IOSA) certificate after successfully completing the audit for modern operational safety requirements compliance. [contextly_sidebar id=”CsjFCpd8S2MYoPELzhRxLXmMwA6wSOuu”]The IATA Operational Safety Audit (IOSA) programme is an internationally recognized and accepted evaluation system designed to assess the operational management and control systems of an airline. The IOSA audit covers all aspects…
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Anglogold to reinstate dismissed workers
AngloGold Ashanti has hinted to Citi Business News that most of its workers that were laid off in its retrenchment exercise last year are likely to reinstated. [contextly_sidebar id=”TTViaearlfF8g6AnWRHVQzesCC3TUAl3″]The move according to AngloGold Ashanti, operators of the Obuasi mine, is part of the company’s partnership with Randgold Resources Limited. Late last year AngloGold Ashanti Ghana…
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Exporters welcome sanctions by government over international exhibitions
The Importers and Exporters Association of Ghana have welcomed government’s decision to sanction exporters who fail to honour invitations to participate in international exhibitions at the expense of the state. [contextly_sidebar id=”ZVf4WuJOFV5fpyhRmo1H0zCOetWnP52i”]According to the Executive Secretary of the Importers and Exporters Association Samson Awingobit Asaaki tax payer’s funds must not be allowed to go waste.…
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PPI declines further to 4.4 percent
Producer Price Inflation (PPI) decreased to 4.4 percent in August from the 10.6 percent recorded in July 2015. [contextly_sidebar id=”0fno3a0oeLLqMEx3PxB9oxWw139llNtL”]The Producer Price Index measures the average change overtime in prices received by domestic producers for the production of their goods and services. The month-on-month change in producer price between July and August 2015 was minus…
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Nigerian firms in trouble as measures backfire
Nigerian companies making anything from soap to tomato paste could run out of raw materials and be forced to shut down as Africa’s top oil producer has effectively banned the import of almost 700 goods to prevent a currency collapse. Selected luxury items such as make-up or brown bread imported from Europe have become scarce…
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Oil prices edge up
Oil prices edged up in Asian trade on Friday following a decline in US crude inventories, although heavier buying was tempered by expectations a return of Iranian crude into the market will further increase global supplies. US benchmark West Texas Intermediate for November delivery rose eight cents to $44.99 and Brent crude gained six cents…
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Fed chief Yellen says US rate rise still likely this year
The US remains “on track” for an interest rate rise this year, Federal Reserve chief Janet Yellen has said. The central bank head said as long as inflation was stable and the US economy was strong enough to boost jobs, the conditions would be right for a rise. Despite expectations of a rise this month,…