Author: citibusinessnews
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Oil dips on profit-taking in Asia
Oil prices fell on profit-taking in Asia on Tuesday after rallying in the previous session owing to doubts the nuclear agreement between Iran and global powers will immediately boost Tehran’s crude exports, analysts said. [contextly_sidebar id=”HD3sB5gn5I2zBqnyx7zg8RNxY9Cda9NU”]US benchmark West Texas Intermediate (WTI) fell 35 cents to $51.79 while Brent dipped 51 cents to $57.61 in late-morning…
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Gov’t doesn’t owe us GHC8 billion – SSNIT
Social Security and National Insurance Trust (SSNIT) has denied media reports that the government owes it about GHC 8 billion. [contextly_sidebar id=”Xa1cyHlGO0NFB6C1bDdGlOqkG7eG9mbc”]SSNIT’s Director of Public Affairs, Eva Amegashie in an interview on the Citi Breakfast Show said government always settles its debt unlike some private institutions. “When government owes, government pays. There are private companies…
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Access bank commissions ultra modern data recovery site
In line with its brand promise to provide customers with speedy service delivered in a secured manner, officials of Access Bank Ghana have commissioned an ultra modern data recovery site at Suame in the Ashanti Region. [contextly_sidebar id=”cxuthgeTgQYhyXPdTM9H7mV0AogF94vW”]Commissioning the project, the Executive Director of Operations & Information Technology at Access Bank Ghana, Mr. Kameel Kajogbade…
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Preparations underway to kick-start 14th Ghana Banking Awards
Corporate Initiative Ghana (CiG), organizers of the prestigious Ghana Banking Awards, has commenced preparations towards the execution of the 14th Ghana Banking Awards. [contextly_sidebar id=”bGGJeT8yXluxh3tHFyyMj4tAHfSaNZlr”]The Ghana Banking Awards, assesses the performance the 28 Universal Banks in the country, with the use of both quantitative and qualitative set of data on the banks. While the quantitative…
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IMF cash will not save cedi- Ebo Turkson
Economist Dr Ebo Turskson has downplayed the effects, an initial tranche of one hundred and fourteen million dollars from the International Monetary Fund (IMF), meant to be used to shore up Bank of Ghana’s declining reserves will have on the cedi. [contextly_sidebar id=”axPHgH0oX2bmR9VAdFH3jiHmU8eAUdag”]He contends the move would not automatically lead to the rescue of the…
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Tullow to comply with ITLOS ruling
Tullow oil Ghana has told Citi Business News it is ready to comply fully with the judgment of the International Tribunal on the Law of the Sea (ITLOS) in the ongoing dispute over the maritime boundary between Ghana and Cote d’Ivoire. [contextly_sidebar id=”CsL8iqvS5c6XZzExBwLrlKGLaKFW095R”]According to Tullow it however supports wholly the position of Ghana in the…
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SEC clears Starwin board on sale of shares to Dannex
The Securities and Exchange Commission (SEC) has cleared the board of directors of pharmaceutical firm Starwin of any wrong doing in the sale of majority of its shares to pharmaceutical giant Dannex through a rights issue. [contextly_sidebar id=”9O9w3oLZRaj74C2WS7AhSXC5XXpaz7OO”]Starwin in December 2014 sold 68.64 percent stake of the company to Dannex at a cost of over…
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Tullow denies sacking core technical Ghanaian workers
Tullow has denied defying government’s directive not to layoff any core technical Ghanaian staff in its layoff exercise. [contextly_sidebar id=”kviLTaKvZmVVatcM6k9yRpjsL268ISgj”]The Ministry of Petroleum had on March, 18, 2015 directed Tullow Ghana Limited, not to lay-off any core technical staff after announcing plans to lay off some workers of the company as a result of the…
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Ghana cannot be blamed for Alitalia’s pullout -Transport ministry
The Ministry of Transport has dispelled reports that Italy’s national carrier, Alitalia suspended operations in Ghana due to the high cost of operations in the country. [contextly_sidebar id=”vzx6w7DXZc3szLVqFF5WvWVbx9Hxu8Z4″]Citi Business News has gathered that Alitalia has suspended direct flights to Accra because of rising cost operations, which has been compounded by the high prices of aviation…
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Nigerian stocks surge on Buhari win
Nigerian stocks surged the most since March 2010, leading gains among world equity markets, after former military ruler Muhammadu Buhari won a vote that marks the first peaceful shift in power since the end of colonial rule in 1960. The Nigerian Stock Exchange all share index rose for a ninth day to extend its longest…