Author: citibusinessnews
-
NLC directs Dannex & Starwin to resolve legal cases
The National Labor Commission (NLC) has directed all parties involved in the Starwin-Dannex takeover rift to resolve all legal issues on the takeover within thirty days and report to the commission on the second of September,2015. [contextly_sidebar id=”hiPcFHZyOUWYS1JmnyIzDTxa9KPzVTW8″]The parties appeared before the NLC yesterday July, 30, 2015 after some staff of Starwin dragged Dannex to…
-
PPI inches up to 23.1%
Producer Price Inflation (PPI) increased to 23.1 percent in June from the 19.0 percent recorded in May 2015. [contextly_sidebar id=”OGlmewgg4zPEOEdtpfmpMnBI6wJg50Kw”] The Producer Price Index measures the average change overtime in prices received by domestic producers for the production of their goods and services. The month-on-month change in producer price between May and June 2015 was…
-
ECG justifies non-availability of load shedding timetable
The Electricity Company of Ghana (ECG) says it cannot give a specific load shedding timetable as quantum of power received from their source over the past weeks has not been consistent. [contextly_sidebar id=”1TzZM3EuJhZf6pcppMRHWNA58tZUvWUG”]The Public Utilities and Regulatory Commission, (PURC) had earlier called on ECG to as a matter of urgency publish a time table. According…
-
World Bank invests $700 million in Sankofa gas project
The World Bank’s Board of Directors has approved a record investment of $700 million in guarantees for Ghana’s Sankofa Gas Project – a transformational project that will help address the country’s serious energy shortages by developing new sources of clean and affordable natural gas for domestic power generation. [contextly_sidebar id=”1OOFa6YNR3Im1jjAoHQDtMHR3yPctjkb”]The Board approved a unique combination…
-
Establishment of national airline to go ahead despite World Bank pullout
The Transport Ministry insists the establishment of a new national airline will go ahead as planned despite the pullout of the World Bank who were partially funding the project. [contextly_sidebar id=”knpu7AVuhZsR7QyWrM1ZHSeqtE7EdPvC”]The World Bank has withdrawn its 30 million dollar support for the establishment of the new national airline under a Public Private Partnership (PPP) arrangement.…
-
American investors Jean & Steve Case challenge Ghanaian youth
Iconic American entrepreneurs, investors and philanthropists Jean and Steve Case have challenged the youth in Ghana to be inspired by the success story of other young entrepreneurs in the country. According to the American entrepreneurs who were in the country to interact with local start up owners like the CEO of smsgh Alex Adjei Bram…
-
2016 election year: Ghana will struggle to stay within budget – IMF
The Managing Director of the International Monetary Fund (IMF), Christine Lagarde has admitted that that the real test for Ghana’s commitment to the current bailout programme would be 2016 which is the election year. [contextly_sidebar id=”MqueohBp0dgxpeSTzrHeS1x8i6w6Dhsz”]She said this in an online press briefing on Wednesday. According to her, just like other country across the world, election…
-
Tullow records low revenues impacted by decline in global crude oil prices
Jubilee Operator, Tullow oil is confident the company’s hedging program will offset majority of losses it is likely to record this year following the decline in the price of crude on the global market. [contextly_sidebar id=”na8uFUmOM4O763ZmwT2ySIdCjU8rnTmD”]The oil giant who yesterday July, 29th, 2015 announced its half year results recorded a sales revenue of 820 million…