Author: citibusinessnews
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Gold records further drop in demand
Demand for gold on the global market declined to its lowest in six years in the second quarter of this year. This is according to the World Gold Council. [contextly_sidebar id=”ilHLrggP110Usxg1i5EXW1JvDZysRIwg”]The low demand has been attributed to mainly weakness in the Chinese and Indian markets as well as stock market turbulence. Most central banks around…
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No VAT on mobile electronic payments-Gov’t confirms
Government has confirmed it will not extend the 17.5% Value Added Tax (VAT) on some fee based financial services to cover mobile electronic payments. [contextly_sidebar id=”fC3PCeSJNexrmYrY4jiF38frcOPlZgDz”]This follows a strong appeal from the Ghana Chamber of Telecommunication to government and other stakeholders about the negative impact the extension of the VAT charges will have on the…
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Inflation goes up to 17.9%
Inflation for the month of July 2015 increased to 17.9% from the 17.1% recorded in June 2015. [contextly_sidebar id=”gqdtpyPc8GFuePRfuo6sHVVNx7NlHace”]The monthly change rate for April is 2.3% while that of June was 1.8%. Food inflation rose to 7.6% compared with the 7.4% recorded for June 2015 where as non food inflation recorded 24.6% moving up 1.0% from…
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UMB organizes Chinese business seminar
Universal Merchant Bank (UMB), in collaboration with the Chinese Embassy in Ghana organized a seminar for the Chinese business community in Ghana. [contextly_sidebar id=”BbvuHP3mFG9YHtMKmUWuo1tA8QLBdqmc”]The event which was held on the 12th August, 2015 at the UMB Head Office, was organized under the theme, “Challenges and Opportunities for Growth of Chinese Business in Ghana” and was…
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ABii National offers free medical screening & medication
In a bid to give back to the society and to appreciate the general public for all their support and trust over their short period of operations-with the impressive achievements which have come with it, ABii National Savings and Loans has organised free medical screening and treatment programme for its customers and the general public.…
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Hords cocoa officially lists on GAX
Indigenous company Hords Cocoa has successfully listed on the Ghana Alternative Exchange (GAX). [contextly_sidebar id=”i5tAgtxmaJwFgkSLSngVeSbt3VE6aSrP”]The listing follows the successful IPO in which the company raised some 4 million cedis through the issuance of 80 million shares at a cost of 5 pesewas per share. The company’s shares were solely written by Gold Coast Securities making…
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BOG extends DKM moratorium by 30 more days
The woes of DKM Microfinance Limited seem far from over as the Bank of Ghana (BoG) has extended a moratorium on their operations further by 30 days. [contextly_sidebar id=”ERynJpIwLJpBhGBhCb1HYxPAwsfi9302″]A 90 day moratorium was placed on the company’s operations on May 11,2015 for operating in contravention of the banking act; after that expired yesterday August 11,2015,…
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Govt will not overspend in election year-Mahama
President Mahama has expressed confidence that Ghana will not overshoot its budget deficit target as an election year approaches. [contextly_sidebar id=”qLPWn1rNp8vugpmq75Dl7UnINUXmxRcl”]According to him, the recurring challenge with overspending in an election year will not be experienced as government maintains strong fiscal discipline to keep the economy on track. ‘’Normally if you don’t maintain fiscal discipline…