Author: citibusinessnews
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Miners close to resolving impasse with Newmont
Barring any last minute hitches, the arbitration between Mining giant Newmont Ghana and its junior staff could see some closure next week. This follows reports that negotiations between the two in their dispute resolution process are far advanced. The impasse between the two heightened when Newmont announced its intentions to lay off some 600 of…
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MNP 3 years on; Tigo outshines all telcos
Telecom operator Tigo appears to be the most preferred network for phone users who want to port. The latest report from the National Communications Authority (NCA) indicates that Tigo in the past year has recorded the highest number of phone users porting to its network. Tigo has in the past year also recorded a net…
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PPI hits highest rate ever
Producer Price Inflation (PPI) for the month of July hit 47.4%, the highest rate ever recorded in Ghana. The Producer Price Inflation rate measures the average change over time in the prices received by domestic producers for their production of goods and services. The July rate of 47.4% increased from the 33.1percent recorded in the…
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Director General of SEC honored
The Director-General of the Securities and Exchange Commission (SEC) Adu A. Antwi has been awarded an honorary doctor of finance & accounting degree by the Commonwealth University, Belize. A citation accompanying the award said he was being recognized for his inspirational story of academic and professional achievements, his contribution toward the promotion of good corporate…
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Hotels revenue drop over Ebola scare
The outbreak of the deadly Ebola virus appears to be having a heavy toll on Ghanaian business with hotels the hardest hit. Already government has placed a ban on international conferences in a bid to prevent the virus from getting into Ghana from other countries. Citi Businesses News checks with hoteliers in the country have…
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Stop making unsubstantiated allegations, GSS warns Bawumia
Government statistician, Dr Philomena Nyarko has warned Former Deputy Governor of the Bank of Ghana Dr Mahamadou Bawumia, to refrain from making unsubstantiated allegations against the Ghana Statistical Service. Dr Philomena Nyarko’s comments follow accusations from Dr Bawumia that the Ghana Statistical Service and the Bank of Ghana were cooking up inflation and exchange rate…
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Kwame Pianim jabs Bawumia over GSS & BoG allegations
A renowned economist Kwame Pianim has defended as credible the figures and data churned out by the Bank of Ghana and the Ghana Statistical Service. Data churned from the two institutions have been questioned by some economists including a former Deputy Governor of the Bank Of Ghana Dr. Mahamudu Bawumia. But economist Kwame Pianim says…
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Ghana’s poverty rate declines
Ghana’s poverty level has declined to about 24.2 percent from the 51prcent recorded in 1991. This means about 24.2 percent of Ghanaians measuring some 6.4million cannot afford to spend GHS3.60 on food a day. The people below the poverty line were about 7milion in 2005. Also about 8.4percent of the population live in extreme poverty.…
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Weak cedi blamed for GSE’s woes
The Head of Brokerage at Ecobank Development Corporation (EDC), Mahama Iddrisu has blamed the continuous depreciation of the cedi against major foreign currencies to the poor performance of the Ghana Stock Exchange (GSE) this year. Ghana’s Stock Exchange has been ranked as the third worst performing market in Africa coming third after Mauritius and Zambia…
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Vodafone call centre workers resume work
Workers at Vodafone’s Call Centre at high street have resumed work after they were refused entry into the premises of the call centre. Managers of the call centre, Teletech Ghana Limited locked the workers out for embarking on a strike last Friday to press home their demands for better conditions of service. The workers who…