Author: citibusinessnews
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Oil price fall good news for world economy-IMF
The plunge in oil prices since June,2014 may hurt some crude exporters but is overall a good thing for the world economy, International Monetary Fund (IMF) Managing Director Christine Lagarde has said. “There will be winners and losers, but on a net basis it’s good news for the global economy,” she said in Washington. Oil…
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Germany gives nod to female boardroom quota
The German coalition government has decided to implement affirmative action for women in big companies’ board of directors. From 2016 women should form at least 30% of the members of boards of directors. The move was agreed after months of wrangling between the coalition partners, the centre-right Christian Democrats and centre-left Social Democrats. The policy…
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World Bank boss to visit Ghana
World Bank Group President Jim Yong Kim will arrive in Ghana on Tuesday, December 2, 2014 as part of a mission which also takes him to the three countries most affected by Ebola, Sierra Leone, Liberia and Guinea. In Ghana, Dr. Kim will meet with President John Mahama and other officials. Discussions will focus on…
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Civil servants to be paid via biometric E-zwich next year
The Controller and Accountant- General’s Department is expected to commence the payment of all civil servants by a biometric E-zwich platform in 2015. This follows an on-going pilot program to gradually ensure public sector workers are paid via the E-zwich payment system. The roll out plan was initially to start with the finance department of…
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Implementation of CET will not be postponed-Tekper
The Ministry of Finance has told Citi Business News government will not defer the implementation of the ECOWAS Common External Tariff (CET). The tariff is to be implemented in January 2015. Ministers of Finance and Directors-General of Customs of ECOWAS Member States met in Accra in late November, 2014 to finalize preparations for the entry…
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Gold tumbles, oil hits 5-year low
Gold prices tumbled on Monday December 1st, 2014 after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum, joining a broad rout in commodities that sent copper and oil prices to four- and five-year lows. The slide in the oil and commodity prices is hurting many assets tied to the resource sector…
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Government is deliberately starving PIAC-ACEP
Energy and research think-tank, Africa Centre for Energy Policy (ACEP) has accused government of deliberately victimizing the Public Interest and Accountability Committee (PIAC) by starving them of funds. This follows the consistent failure of government to fully pay PIAC’s budgetary allocation which is affecting its smooth operation. The 13-member Committee inaugurated in 2011, didn’t…
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HFC bank board chairman resigns
The board chairman of HFC Bank Nana Adjei Duku has resigned. Nana Adjei Duku has been the board chairman for the bank since 2003. He took over that position from the late S.K Botchway who was a former deputy governor of the bank of Ghana. Managing Director of HFC bank Asare Akuffo who confirmed the…
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Load shedding extended to industrial zones
The ongoing load shedding exercise will be extended to all industrial zones across the country from today December 1st 2014. The industrial zones, since the exercise took off, have been exempted, with residential areas being affected the most. But Citi Business News has learnt the exercise will now be extended to such zones due to…
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More subscribers dump Tigo & Expresso
Telecom operators Tigo and Epresso made the most losses in the latest National Communications Authority (NCA)’s latest report on mobile voice subscription in Ghana. The report which covered the month of September saw all the mobile operators make gains except the two. According to the report mobile Voice subscriber base in Ghana grew from 29,531,488…