Author: citibusinessnews
-
Mining, gas companies to open retention accounts
The Bank of Ghana (BoG) has recommended to the government to review existing agreements with the mining and oil and gas companies to open and operate retention accounts with the BoG or any commercial bank in the country. The move is to help reduce capital flight that has brought pressure on the cedi and consequently…
-
Union Savings and Loans launches SME clinic
Union Savings and Loans has officially launched a Small and Medium Enterprise (SME) clinic to educate individuals and business entities with the requisite skills and knowledge in handling their business and also offer business solutions aimed at advancing the growth of SME’s to help accelerate the country’s development. Speaking at the launch, the Managing Director…
-
GM recalls more cars over ignition concerns
General Motors (GM) has recalled more than 500,000 Chevrolet Camaro cars, mostly in North America, after finding a fault with the ignition system. The car manufacturer said a driver’s knee could bump the key fob and turn it out of the “run” position, causing a loss of power. GM said the fault had led to…
-
Hijacked oil vessel found
The oil vessel which was reported missing off the coast of Ghana has been found. The Hijacked oil vessel found was reported missing last Saturday after the captain sent a distress call saying, the vessel was hijacked by pirates. The Public Relations Officer (PRO) of the First Garrison of the Eastern Naval Command, Lieutenant Maxwell Asola-Fadola in…
-
Bui to resume full generation capacity in July
The Bui Power Authority says the dam will return to its full generation capacity by July, when the flow of water into its reservoir is expected to improve significantly. The 400 -megawatt hydro-power installation has currently shut down two of its three turbines and stopped generating active power. Instead, the dam is producing reactive power,…