Author: citibusinessnews
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UK’s oil sector loses 65,000 jobs-Report
The contraction of Britain’s offshore oil sector has already stripped out 65,000 jobs, according to a new report. [contextly_sidebar id=”E2K9ddiKy4K0D29r6G2GNanxpWXfiLPS”]The calculation of a 15% drop since the start of last year came from the annual economic impact report of trade body Oil and Gas UK. It said the number of jobs supported by direct, supply…
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Lufthansa pilots ordered to end strike by court
A German regional court has ordered an end to the Lufthansa pilots’ strike which has affected 140,000 travellers, overturning a previous ruling by a lower court. lufth[contextly_sidebar id=”Q4uP9iBcUeUTDq5GzZxjechdcnTlwHjf”]Pilots began action stopping long-haul flights yesterday and extended it to medium and short-haul journeys today. Their union is in a long battle over pay and retirement benefits.…
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BoG sets new guidelines for gold exports
The Bank of Ghana (BoG) will from this month begin rolling out new rules for gold export. [contextly_sidebar id=”eZycUgaritJSWosGZRB19cW9E83hVrlT”]The new rules which will take effect from Tuesday, September 15, 2015 will affect all gold exports. According to the central bank per the new measures all exports of gold must be done only through the Precious…
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Finance ministry rejects end of year cedi performance projections
A deputy Minister of Finance Mona Quartey has rejected assertions that the country’s currency will end the year at about 6 cedis to the dollar. [contextly_sidebar id=”VPQIMqDV2x6FoUisq6kkvvjU9B2gina8″]Her comments follow heightened debate on the cedi’s performance and government’s continuous difficulty in stabilizing the local currency. Some stakeholders have predicted the cedi will close the year at…
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Inflation records decline
Inflation for the month of August 2015 decreased to 17.3% from the 17.9% recorded in July of the same year. [contextly_sidebar id=”mfEwl3M25p7Ka2WXMFGvmg5CVUe53qpc”]The monthly change rate for August is minus 0.7% while that of July was 2.3%. The food inflation rose to 7.7% compared to the 7.6% recorded for July 2015, non food inflation recorded 23.4%.…
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Halt IMF disbursements, Minority demands
The Minority in parliament is demanding that the International Monetary Fund (IMF), freezes further disbursements of monies to Ghana, alleging that the deal with the fund was not constitutional because it did not receive parliamentary approval. [contextly_sidebar id=”vDBP4Gi58f2UCdQhfdqTERYGH1BSDX3w”]At a press conference on Tuesday 8th September,2015, the Minority Spokesperson on Finance, Dr Anthony Akoto Osei and…
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Strike to hit Lufthansa flights
Lufthansa cancelled just under half of its long-haul flights planned for Tuesday 8th September,2015 after its pilots’ union called a strike. [contextly_sidebar id=”qAbHCBfWYVryneKeqp0XEIDcR8zHExZp”]The airline also expected cancellations to its short-haul flights on Wednesday as the union called for an extension. The strike, the 13th in 18 months, will affect passenger and cargo flights out of…