Author: citibusinessnews
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Terkper begs banks to invest in govt securities
The Minister of Finance has appealed to commercial banks and financial institutions operating in the country to invest in government securities. [contextly_sidebar id=”gBBIVvsko7lHWUv2xcBNitmrWJdn72Ua”]According to Finance Minister Seth Terkper government securities is one of the safest portfolios for investment with very high yields. This comes after government launched a 5 year treasury bond to fund self…
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Devaluation of China’s currency to worsen cedi’s troubles
Some economists have predicted that the cedi will further decline against major foreign currencies following the recent devaluation of the Chinese currency the Yuan. [contextly_sidebar id=”8sHqUn2dXsvfa6xWFOUG4TwLifgx7wfE”]China’s central bank last week devalued the Yuan, central to the move was a bid to have the yuan accepted by the International Monetary Fund into its basket of reserve currencies,…
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China blasts: carmakers’ production affected
Toyota and John Deere have said they will halt work at plants near China’s port of Tianjin where huge explosions last week killed more than 100 people. [contextly_sidebar id=”PZPZTy8s2L1Kjbm8snlzjknBOF9nO0Ic”]Toyota’s production lines will be closed until the end of Wednesday while John Deere suspended work indefinitely. Renault also said its car deliveries in China may fall…
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AngloGold mulls harvesting mines as gold price sinks
Africa’s top bullion producer, AngloGold Ashanti, could begin “harvesting” some of its mines if the gold price sinks below $1 000 an ounce, its chief executive said on Monday. [contextly_sidebar id=”8Kh94cDwJwsVJCURX6NJ77tIkeDtqENv”]If we end up with a gold price below $1 000 an ounce we may start harvesting some of the short-life mines for cash for…
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No cash deposits made into stabilization & heritage funds in 2015
The Ghana stabilization and heritage funds have received no cash inflows for the first half of 2015 as compared to the 215 million, 7 thousand dollars paid into the two funds during the second half of 2014. [contextly_sidebar id=”1A8lCet5zQ85bSB7gXXQdJr09AS1uP70″]This is according to the Bank of Ghana semi-annual report on the Petroleum Holding Fund & Ghana…