Author: citibusinessnews

in Business, Oil And Gas, Top Stories

Tullow Oil Plc (LON:TLW) shares surged this morning, after the weekend ruling by the International Tribunal for the Law of the Sea (ITLOS) rejected Côte d’Ivoire’s demand that work on a Tullow-operated field in disputed waters off the coast of Ghana be stopped. [contextly_sidebar id=”EprxCMqrxjoJWPJljp1xJ7QodqBrS0nj”]Tullow’s shares had jumped 4.43 percent to 436.50p though they had…

Dissolve Adb board and sack MD – Workers

Apr 27, 2015

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in Banking And Finance, Business

The workers of the Agricultural development bank (Adb) are calling for the immediate dissolution of the board of directors of the bank and the dismissal of the Managing Director, Stephen Kpordzih to save the financial institution from imminent collapse. “We want the immediate and unconditional dissolution of the board of directors and the immediate and…

IMF report: Gov’t to receive 2nd tranche of bailout cash in July

Apr 24, 2015

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in Business, Local Economy, Top Stories

The International Monetary Fund (IMF) has in a report announced that the second tranche of $144 million will be made available to Ghana in July 2015. [contextly_sidebar id=”mORM6pA9zxBUtDs6Oy4W8lLlVR0Lm1rI”]The first tranche of $114 million was paid into the Bank of Ghana’s account on April 14, 2015. The IMF has agreed to support Ghana with a $914…

HFC bank appoints Robert Le Hunte as substantive MD

Apr 24, 2015

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HFC bank has settled on Robert Le Hunte as its substantive Managing Director (MD). [contextly_sidebar id=”GwsWSE45yQ0x4oeBw0fN8mt4k1sZ4Bjn”]The bank’s outgoing MD Asare Akuffo yesterday announced the bank had appointed the head of corporate banking of HFC Osei Asafo Adjei’s as its acting MD. But the bank’s new board a few hours after that pronouncement appointed a substantive…

Delta Air Lines announces March quarter profit

Apr 24, 2015

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in Business, News, Transport

Delta Air Lines has recorded impressive financial results for the March 2015 quarter. Delta’s adjusted pre-tax income for the March 2015 quarter was $594 million, an increase of $150 million over the March 2014 quarter on a similar basis. Delta’s adjusted net income for the March 2015 quarter was $372 million, or $0.45 per diluted…

HFC bank appoints acting MD

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HFC bank has appointed Osei Asafo Adjei as its acting managing director. [contextly_sidebar id=”NXQXkoeKio7B4vpUFaIsbqsBj4V2lxHK”]Osei Asafo Adjei prior to this appointment was HFC’s Director of Corporate banking. Citi Business News has gathered the bank’s board approved Osei Asafo Adjei’s appointment in a meeting yesterday. Mr. Asafo-Adjei was appointed Executive Director, Corporate Banking of HFC in June…

Changing age limit for opening bank accounts not necessary – GT boss

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The Managing Director of the Guaranty Trust (GT) Bank has downplayed calls for the Bank of Ghana to revise the age at which one can own and run a Savings Account. [contextly_sidebar id=”MfwAtZUlZ4ak0UmVgqVBy7lSquPdl1r7″]The current age limit of 18 is said to be hampering efforts in instilling the culture of savings into the youth. According to…

Cable theft still affecting us – Vodafone

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in Business, News, TECHNOLOGY

Vodafone Ghana Limited has said the company is still plagued with cable cuts and thefts, and spends an average of GH¢ 1.8 million annually in fixing interruptions. [contextly_sidebar id=”myBQ7jOM0BIySEr70YEyI7fBwTJ8sd2V”]Underground cable thefts are usually carried out by persons who steal cables for copper, while cable cuts are caused by activities such as excavations during construction and…

Meridian Marshalls launch IPO

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