Author: citibusinessnews
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Dannex merges with Starwin, now Dannex Starwin
Local pharmaceutical giant Dannex appears to be on its way to become one of the biggest pharmaceutical companies in Africa. [contextly_sidebar id=”aoKYIX3lj6CIBDVfrjcfTfelhcLjYClO”]Dannex yesterday Thursday, 9th July, 2015 announced it has officially merged with Starwin Products Limited and will now be under a new name, Dannex Starwin. ‘The merger between Starwin and Dannex Limited has been…
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GTP launches ‘oga’ promotion
GTP, West Africa’s leading African wax print & textiles manufacturer has called on government to put in place more stringent measures to prevent the counterfeiting and smuggling of registered designs of Ghanaian textile manufacturing companies. [contextly_sidebar id=”t0JDL8VxCYdNO9HzIAKztmTasmkAVN2X”]According to the MD of GTP, Kofi Boateng in the past, counterfeiters simply stole GTP designs and placed their…
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Foreign currency hoarders begin releasing cash
Citi Business News has learnt forex dealers and individuals who for some months now have been hording foreign currencies due to the performance of the cedi have begun releasing them. [contextly_sidebar id=”NQRpRaCbqLxNEfZGgAcaCDVJHQ712xst”]The move follows the recent gains of the cedi. The local currency since last week and the beginning of this week recorded gains against…
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Govt must halt utility increment -GCCI
The Ghana Chamber of Commerce and Industry (GCCI) has asked government to halt utility tariff increases announced by the Public Utilities Regulatory Commission (PURC)recently. [contextly_sidebar id=”nTQSDO8ycSepPLb5jl6UbB7WHNKcVnO7″]According to the GCCI the hardship on businesses keeps increasing with the power rationing exercise still ongoing and any increase in utility tariffs will only cripple the private sector. The…
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Union savings and loans launch management trainee programme
Union Savings and Loans says it is on course to emerge as a universal bank in the next two years. As one of the top players in the tier two banking industry, the company as part of its strategy has rolled out a training program for some members of staff. [contextly_sidebar id=”zWLmlIGFPnaJKy2MZijkBqAUkgCpNdlz”] The Union management trainee…
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Coca-Cola puts on hold dismissal of workers
Citi Business News has learnt that the Coca-Cola Bottling Company of Ghana has put on hold laying off of workers following the ongoing power crisis and the performance of the cedi against major foreign currencies. According to the beverage company it has completed its redundancy exercise, and will not lay off more workers. [contextly_sidebar id=”VKHYG0MwMSakBoyZYlMUwztK6YZ5lj8c”]The…
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UNICOF petitions Supreme Court over adb’s IPO
The Union of Industry Commerce and Finance (UNICOF) has filed a suit at the Supreme Court challenging the commencement of the Agricultural Development Bank’s (adb) Initial Public Offer (IPO). [contextly_sidebar id=”rGo1sBdZsdDECvAuOZPT0fXX7PfqxJ0d”]UNICOF wants the court to stop the IPO, which it described as illegal. This comes after it emerged in a Citi Business News investigation that the Member of Parliament for…