Author: citibusinessnews
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BoG to ease forex controls
The Bank of Ghana (BoG) will today announce measures to ease foreign exchange controls to allow withdrawals up to US$10,000 without proof of travel. The measures come after a thorough review of the controls the central bank introduced in February this year to halt the depreciation of the cedi. The earlier measures limited access to…
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Twitter chief operating officer resigns as growth lags
Twitter Inc TWTR.N on Thursday announced the resignation of its chief operating officer, who had been responsible for the social media company’s increasingly urgent efforts to revive user growth. Ali Rowghani, who had also served as chief financial officer at Twitter and had been the CFO at Pixar Animation Studios, had been praised for orchestrating…
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Tanink Ghana outdoors latest Jeep, Chrysler and Dodge vehicles
Tanink Ghana Limited on Thursday unveiled the latest models of three classy vehicles – the Dodge Durangos, Chrysler 300C and Jeep Compass. The wholly-owned Ghanaian company, is also the distributor of Fiat, Alfa Romeo and Iveco vehicles in Ghana. At a ceremony held at the company’s premises in Tema, just off the Accra-Tema Motorway, the…
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Inflation hits 14.8%, highest since 2010
Inflation for the month of May hit 14.8 percent. This means the average prices of goods and services went up by 14.8 percent between the periods of May 2013 and May 2014. This still continues to be the highest since January 2010. May’s inflation rate was up from the rate of 14.7 percent recorded in…
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Amissah-Arthur rubbishes Fitch report
Vice President Kwesi Amissah-Arthur has rejected the recent assessment of Ghana’s economy by some top international rating agencies. According to the Vice President, ‘in this industry sometimes they have to hit hard for your message to go across so they are making very dramatic statements. The reality may not be as they put out.” He said of the rating…
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Tigo grabs multimillion dollar investment to boost services
Tigo announced today a multimillion dollar investment programme to improve its network and services for its growing number of customers. In the first year the company will be investing an average of over $100,000 a day in the upgrade. During the first phase of investment, the company will commence a fibre infrastructure project to improve…
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AGI visits EU to spearhead private sector advocacy
The President of the Association of Ghana Industries (AGI), James Asare-Adjei is urging all private sector players to help make the regional integration initiative within ECOWAS a reality. According to the AGI President, ECOWAS is running out of time in its pursuit of a borderless region agenda for the free movement of goods and people,…