Author: citibusinessnews
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Ghana, China collaborate to fight piracy of Ghanaian textiles
Ghana is expected to work closely with the Chinese government as part of a new strategy to combat the importation of pirated Ghanaian textiles from China. This comes after several calls on government to tackle the widespread pirating of Ghanaian textile designs in China at a bilateral level. According to the immediate past Minister of…
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GEA ready to fight piracy and counterfeiting
The Ghana Employers’ Association (GEA), with support from the Business Sector Advocacy Challenge (BUSAC) Fund, has begun implementing an action plan to fight counterfeit and illicit trade in the country. The action plan, which will be focusing on especially the textile and pharmaceutical industries, is themed ‘Advocacy to Combat Counterfeit and Illicit Trade.’ Speaking at…
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Producer price inflation reaches 33.1 percent
The year-on-year producer inflation for all industry was 33.1 percent in June 2014, representing a 0.1 percentage point increase relative to 33.0 percent recorded in May 2014. The monthly inflation rate was 0.7 percent. The utilities sub-sector recorded the highest year-onyear producer price inflation of 56.9 percent followed by the mining and quarrying subsector with…
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Amazon reports $126m quarterly loss
Amazon has reported a loss of $126m (£74m) in the second quarter and warned that sales could slow in the current quarter. Amazon forecast third quarter sales of between $19.7bn and $21.5bn, which could mean sales growth of as little as 15% – well down on previous quarters. Amazon has traditionally survived on thin profit…
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BSkyB in £5bn deal to create Sky Europe
BSkyB is paying £4.9bn to take over Rupert Murdoch’s pay TV companies in Germany and Italy. The move was announced along with the company’s annual results, which show pre-tax profits fell slightly to £1.2bn from last year’s £1.26bn. BSkyB also reported revenues rose by 7%, with strong demand “across the board” for its services. It…
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Address concerns raised on EPA – Dr. Ibn Chambas
A former chief negotiator for ECOWAS in the Economic Partnership Agreement (EPA) with the European Union (EU), Dr. Mohamed Ibn Chambas, is calling on ECOWAS to address concerns raised by civil society groups on the agreement. ECOWAS countries will be expected to open up 70 percent of their markets to EU goods, while being granted 100…
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Unavailability of land stalls upgrade of Kumasi international airport
Government says lack of space and encroachment of the Kumasi airport lands is stalling efforts to turn the airport into an international one. This follows questions as to why government has opted to build an international airport in Tamale despite considerable traffic at the Kumasi airport. Work on the upgrade of the Tamale airport to…
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Gov’t bans rosewood harvesting and exportation
The government has banned the felling and exportation of rosewood in the country. In a statement released on Wednesday, the Ministry of Lands and Natural Resources announced the ban on the felling, harvesting and exportation of rosewood in the country. The Ministry cited the “abuse of permits granted some loggers to harvest rosewood in the…