Author: citibusinessnews
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Subsidize LPG to sustain free distribution project-ACEP
The Africa Centre for Energy Policy (ACEP) is asking government to subsidize Liquefied Petroleum Gas (LPG) to sustain the free rural LPG cylinders distribution project. The program which is aimed at halting the burning of charcoal has not yielded the desired results. Reports indicate that beneficiaries of the project are selling the cylinders because they cannot…
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Tough times ahead, economist warns
An Economist at the Economics department of the University of Ghana Dr. Ebo Turkson says Ghanaians must be ready to go through tougher times as Ghana prepares to go into a programme with International Monetary Fund (IMF). Ghana is expected to begin an IMF programme early next year after the first round of talks with…
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Gold holds near 9-month low, as dollar weighs
Gold held near 9-month lows on Wednesday, weighed down by broad-based strength in the dollar on growing expectations that the US Federal Reserve is set to tighten monetary policy before other major central banks. Other precious metals also languished, with platinum the biggest faller, sliding to a five-year low at $1 256.30 an ounce early…
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Gov’t must absorb tariff increment – GCCI
The Ghana Chamber of Commerce and Industry (GCCI) says government must absorb the tariff increases announced by the Public Utilities Regulatory Commission (PURC) yesterday. The cost of electricity from today is up by 6.54 percent while that of water has been increased by 4.54 percent. The Public Utilities Regulatory Commission says the increase in electricity…
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NPA maintains prices of petroleum products
Users of Petroleum products have again been spared of an increase in the prices of fuel. The National Petroleum Authority (NPA) in its latest review of the prices of petroleum products maintained the last rates. The review takes effect from today. Petrol is still going for 3cedi 36pesewas per litre, diesel 3 cedis 27 pesewas,…
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GUTA jabs GSA over conformity assessment program
The Ghana Union of Traders Association (GUTA) is questioning the mandate of the Ghana Standards Authority (GSA) to roll out the Ghana conformity assessment program without cabinet and parliament’s approval. This is despite the suspension of the program on the request of the ministry of trade and industry after massive resistance by stakeholders. The program…
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Golden Tulip breaks silence on workers agitations
Golden Tulip Hotel has denied reports that its workers are operating under poor working conditions. Management of the hotel over the past weeks has come under heavy attack from workers of the hotel over poor conditions of service, nonpayment of salaries and mismanagement. Last week the Police had to be called in to forestall a…
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Fishermen beg government for more premix fuel
Fishermen at the Tema Fishing Harbour are appealing to government to increase the premix fuel it allocates to them weekly. According to them the appeal, has become necessary because of the influx of fishermen from other fishing communities to the area. Tema Awudum chief fisherman, Nii Odamettey, tells Citi Business News the four times a week allocation…
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Occupants of state properties to pay for maintenance work
Government is to soon begin rolling out a directive that will make it compulsory for occupants of state properties to undertake and pay for maintenance work on such facilities. Minister of Works and Housing Alhaji Collins Dauda made the announcement when he inspected the housing project for the Bureau of National Investigation (BNI) in Sakumono.…
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Banks lose appetite for lending
It will be more difficult from now till the end of the year to secure loans from banks in Ghana. This is according to a report from Ecobank research on the banking industry in Ghana. Amid increasing interest rates on loans, the report indicates banks’ appetite for lending will weaken in the last quarter of…