Author: citibusinessnews
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Prez Mahama intervenes for DKM customers
President John Dramani Mahama has directed the Bank of Ghana (BOG) to speed up processes and ensure that cash deposits of customers of the DKM Diamond Microfinance, a savings company in the Sunyani Municipality are paid them. [contextly_sidebar id=”Vyf0vtX3Ko53ylnxopj11rZgSLIAujuF”]Barely two months ago, the Financial Intelligence Center, Ghana, a national anti-money laundering organization under the BOG,…
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Stanbic bank donates 100,000 cedis to June 3 victims
Stanbic Bank Ghana has donated 100,000 and 52,000 cedis to the plastic and reconstructive surgery and burns centre and the cardiothoracic centre at the Korle-Bu teaching hospital to support the victims of the June 3 floods and inferno disaster. [contextly_sidebar id=”3Q2egIM2RxQ6Oa7gntWrzFqwIaU5tZe9″]With the 100,000 cedis donated to the plastic and reconstructive surgery and burns centre to…
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Western Union to close in Greece for rest of week
Western Union, the world’s largest money transfer company, today announced it has closed for business in Greece and would remain closed for at least the rest of the week. Western Union said it had not seen a significant increase in customers moving money out of Greece in the two months to June 27 but had…
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ADB to lose potential shareholders over IPO suspension
ADB bank risk losing prospective shareholders and investors to other institutions offering profitable investment avenues following the suspension of the bank’s Initial Public Offering (IPO). [contextly_sidebar id=”5F9Z9Lcz8Mkheai1KNWn5N5hIsjJOGCB”]This is according to Investment Banker, Mahama Iddrisu. ‘’The general economic conditions are very tough for the ordinary Ghanaian so if the offer is delayed, it means that there…
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European stocks face worst day since 2011
European shares took a hammering in early deals on Monday, with Southern European banks especially badly hit, after Greece closed its banks and imposed capital controls as a result of its debt problems. Portugal’s PSI-20 benchmark share index sank 5%, worse than a 3% drop in the pan-European, blue-chip FTSEurofirst 300 index. Germany’s DAX and…
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Euro drops below $1.1 as Greek exit risks grow
The European single currency briefly dropped below $1.1 on Monday June 29, 2015 as investors concerns over Greece heading for a debt default grew and a possible eurozone exit. e[contextly_sidebar id=”N0mFrvh71aVJKsoOZ3zSgtz9nHDNfpxk”]The euro fell to $1.0952 in Asia early Monday from $1.1160 in New York on Friday, dropping through the $1.1 mark for the first time…
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Investors are losing confidence in Ghana – Bawumia
New Patriotic Party’s (NPP) Vice Presidential candidate Dr Mahamudu Bawumia has said investors are fast losing confidence in Ghana’s economy. [contextly_sidebar id=”YBpuUeIziIgZBRR3KobJGxfYhibcXCgP”]This he said is because of government’s inability to pay its foreign debts, adding that it is adversely affecting the country. Speaking at a fund raising program in London, Dr Mahamudu Bawumia said this…
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Awuah Darko appointed as new TOR boss
President John Mahama has appointed Kingsley Awuah Darko as the new Chief Executive Officer of the Tema Oil Refinery (TOR). [contextly_sidebar id=”MTrjtAuXiGGSBurKwCg6fSES5V2W3Ivm”]This was contained in a statement signed by the Chief of Staff which said Mr Awuah Darko “has been asked to take over responsibility for the management of the Tema Oil Refinery (TOR). Mr.…
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Apology and retraction: Stay away from break away STCCI-GCCI warns business community
I would like to offer an unreserved and unqualified apology on my good self and the Ghana Chamber of Commerce & Industry for the statements made in the press release dated 16th March, 2015 and published in the Daily Graphic and Business & Financial Times. [contextly_sidebar id=”kcXCUyPrw4gzik6enFlUI380cAXgPDve”]Subsequent comments made during the interview granted to Citi…