Author: citibusinessnews
-
London police arrest another Arik Air crew with cocaine
A crew member of Arik Air, Chika Egwu Udensi, was on Monday night apprehended at Heathrow Airport, London, for allegedly peddling substances suspected to be cocaine. [contextly_sidebar id=”sVIiwx45hQpqtdFNmFswEniLoiWkTAIe”]Spokesman of Arik Air, Ola Adebanji confirmed the latest arrest. He said the crew member was arrested by the UK Border Force in connection with alleged possession of…
-
Ethiopian Airlines make more profit than all other African carriers combined
Ethiopian Airlines’ $175 million profit for the 2014/15 fiscal year it announced at the end of last week is more than what the rest of Africa’s airline industry posted over the same period. [contextly_sidebar id=”p5DMzfdJgnQDh2SV9De1Dc0lWc4RmzBh”]Tewolde Gebremariam, Ethiopian Airlines chief executive, said the airline, which has been the most profitable in Africa for a couple of…
-
Miners threaten to bring industry to a standstill
The Ghana Mine Workers Union is threatening to bring the mining sector to a standstill if the current huge disparity between wages of locals and expatriates are not addressed. [contextly_sidebar id=”DJEZpVhDPuWlaV0XXuJyVKuBoSaMKIV1″]According to the miners, they will use their right to collective bargaining to demand their due. The union has been crying foul about the current…
-
SEC commences review of ADB IPO
The Securities and Exchange Commission (SEC) has told Citi Business News it is currently reviewing documents from Agricultural Development Bank (ADB) over moves to resume their Initial Public Offering (IPO). [contextly_sidebar id=”97XdPpaH3zzm2Whb3kBgksOfvteusO7C”]This comes after ADB officially wrote to inform SEC, seeking approval to resume its IPO. ADB’s plans to resume its IPO follows UNICOF’s decision…
-
Cedi will stabilize -Bankers
The Ghana Bankers Association has told Citi Business News it is confident the cedi will stabilize before close of year despite the current slide against the dollar and other major foreign currencies. [contextly_sidebar id=”iQXbziQJ046A2sHEeVHqHKTxpTa0e751″]There have been mixed projections about the fate of the cedi against the major foreign currencies. This is after the cedi bounced…
-
AGI slams EDAIF for not supporting its members
The Association of Ghana Industries (AGI) has accused the Export Trade, Agricultural and Industrial Development Fund (EDAIF) of not supporting its members. [contextly_sidebar id=”31pDQWauaFZvc12kYIiA4XM7gw9mM9j5″]According to the President of AGI James Asare Adjei its members who applied to EDAIF have not received the needed support for their export activities. His comments comes after EDAIF announced over…
-
Chinese stocks tumble for a second day after global fall
Chinese stocks have plunged for a second day after worries over China’s slowing growth triggered a global sell-off. [contextly_sidebar id=”8uJzjSKPjUsRgN2JyNvtCGpuwp0bffm6″]The Shanghai Composite, China’s main stock exchange, fell 7.6% on Tuesday – after losing 8.5% on what state media have called China’s “Black Monday”. It was the worst fall since 2007 and caused sharp drops in…
-
BOG names and shames 10 unlicensed microfinance institutions
The Bank of Ghana (BoG) has identified some 10 unlicensed microfinance institutions operating in the country and has warned the public to desist from doing business with any of them. [contextly_sidebar id=”fisqz9xMY1V0F4AShvtHqKxsLGsKxJaU”]The institutions identified are, Care for Humanity International, Bouyant Investment Limited, God is love Fun Club, Perfect Edge Group, Perfect Business Fun Club. P.M.…