Author: citibusinessnews
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Global stocks at three-week highs as Fed decision looms
World stocks inched to a three-week high on Thursday while the dollar drifted lower against other currencies, as investors consolidated positions ahead of a nail-biting U.S. Federal Reserve interest rate decision. There was a sense of relief as much as anything that after months of market speculation and advice from almost everyone from the IMF…
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AngloGold Ashanti enters joint agreement with Randgold to revive Obuasi mine
AngloGold Ashanti has entered into a joint venture with Randgold Resources Limited to revamp the Obuasi mine to a world-class high-grade mine. [contextly_sidebar id=”2szMslBg99lzExlBIfV7yeAFEhuKRpWK”]Chief Executive Officer of AngloGold Ashanti Srinivasan Venkatakrishnan who confirmed the move to Business News said “Obuasi given the range of issues had to have a tough decision taken because you cannot…
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Struggling cedi & high inflation pushes BoG to increase policy rate
In a bid to tame the country’s growing inflation rate as well as the poor performance of the cedi the Bank of Ghana today 14th September, 2015 increased the monetary policy rate to 25 percent. [contextly_sidebar id=”mUYm78MyTRmZvMHyOSVfrsqU60xAHtK4″]The figure is one the highest in the history of the country. The last time the figure went that…
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BoG unfreezes all accounts of DKM microfinance
Customers of DKM Diamond microfinance company whose deposits have been held up in the company can from Tuesday September 22,2015 withdraw their monies. The move follows the lifting of a moratorium placed on the operations of the microfinance company by the Bank of Ghana (BoG) today 14th September,2015,. [contextly_sidebar id=”e4jeWyNdqR7xoKKghQNFqHZM5Q71y70C”]The BoG placed a moratorium on…
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Mixed views over whether BoG will maintain policy rate
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will today 14th September, 2015 announce whether or not it will increase or maintain the monetary policy rate. [contextly_sidebar id=”BfE4Sh94XsQPfzOOHZF0MIjWg9nZmnSy”]Some economists are predicting that the policy rate, which currently stands at 22 percent, could be increased. The policy rate which is the rate at…
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Ghana’s debt to GDP ratio crosses dangerous 70% thresh-hold
Ghana’s total debt stock has increased by GHc5 billion more, between May and June 2015. [contextly_sidebar id=”6RSIUPoCPK9yXu0xj3ZFPi1rlga0mpkh”]According to figures from the Bank of Ghana, the country’s total debt stock now stands at GHc94.5 billion, representing 70.9% of Gross Domestic Product (GDP). This was contained in the BoG’s summary of economic and financial data for September…
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BoG takes final decision on DKM today
Thousands of customers of DKM Micro Finance company are currently sitting on the edge awaiting the final decision of the Bank of Ghana (BoG) on the fate of the company. [contextly_sidebar id=”nwgzcDonQlW7PrbhT579Afqv9ufXkqik”]A 30 day extension of the moratorium placed on the company by the Bank of Ghana after an earlier 90 days one ends today…