Author: citibusinessnews

in Business, Oil And Gas

An audit of GH¢1.8 billion claims submitted by the Bulk Oil Distribution Companies (BDCs) has stalled because the local banks that finance the BDCs are not co-operating. Ernst and Young, an audit firm, was contracted by the Ministry of Finance in the second week of June 2014 to audit the claims of the BDCs before…

More Forex rules scrapped

Aug 8, 2014

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in Banking And Finance, Business, Top Stories

The Bank of Ghana (BoG) has made further revision to some of the Forex rules it introduced on February 4, to save the cedi from further depreciation against major foreign currencies. A statement from the central bank said the limit of $1,000 on over- the- counter- foreign- exchange-cash withdrawals has been removed. This measure was…

Publish cost of Atuabo gas processing plant – ACEP demands

Aug 8, 2014

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Energy and research think-tank, Africa Centre for Energy Policy (ACEP) is asking government and the Ghana National Gas Company to make public the specific amount committed to the construction of the Atuabo gas processing plant. According to earlier reports, the plant was expected to cost the country 750 million dollars. But the Director of Research at…

Dark and Lovely introduces “Dark & Lovely Crème 6 oils”

Aug 8, 2014

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Dark and Lovely has introduced a new brand of body lotion onto the Ghanaian market to help solve the numerous skin problems which prevent people from enjoying the natural skin they were born with. The new product-Dark & Lovely Crème 6 oils-is a multi-active formula which combines six natural oils to help combat the six…

Jason Njoku to speak at 13th MTN breakfast meeting

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MTN, Ghana’s leading Telecommunications Company and Business World,announced that Jason Njoku, a world renowned expert in online media technology in Africa will be speaking at the 13th MTN Business World Executive Breakfast meeting. The much anticipated event is scheduled to take place at the Movenpick Ambassador Hotel on the 28th of August, 2014 at 8:30am…

Economist slams Fitch over IMF bailout comments

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in Business, Local Economy

Economist John Gatsi has criticized the Fitch Rating agency for going to the International Monetary Fund (IMF) for a bailout does not mean Ghana’s economy will recover. Government over the weekend announced its decision to go to the IMF for a financial bailout to address the economic challenges facing the country. Fitch rating agency in…

IMF bailout measures will be painful – Economist

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The Chief Executive Officer of Dalex Finance, Mr Kenneth Kwamina Thompson has asked Ghanaians to brace themselves for painful impact from the measures from the bailout government is seeking from the International Monetary Fund (IMF). “There is going to be an attempt to curb expenditure, public sector wage bill would have to be managed, IMF…

Fuel shortage to hit Total petroleum pumps

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in Business, Oil And Gas

An imminent shortage of fuel is expected to hit pump stations belonging to Total Petroleum company as their tanker drivers continue an indefinite strike. The drivers are protesting the use of an electronic seal, a devise used to seal cargo after they have been loaded. Secretary of the Tanker Drivers Union, William Adarkwa told Citi…

Petroleum Commission reviews $6Bn plan for oil fields

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