Author: citibusinessnews
-
Blue Ocean Investments, GTPCWU sign agreement to forestall agitations in oil and gas sector
Blue Ocean Investments Limited, has signed a collective bargaining agreement with the General Transport, Petroleum and Chemical Workers Union (GTPCWU), an umbrella body for oil and gas sector workers in the country. The agreement, which was signed on Monday, August 10, 2020, seeks to govern all labour and remuneration issues between Blue Ocean Investments and…
-
Garage operators unhappy with implementation of ban on salvaged cars
Garage operators in the country are calling on government to scrap implementing the ban on salvaged cars in October 2020. They argue that, should government go ahead with the implementation, they will lose their livelihoods. Parliament passed the Customs (Amendment) Bill, 2020 that bans the importation of accident and salvaged motor vehicles into the country.…
-
Players push for passage of Construction Industry Development Authority Bill
The Ghana Chamber of Construction Industry is pushing for the swift passage of the Construction Industry Development Authority, (CIDA) Bill. The Bill, when passed, will make the professionals in the industry accountable and thereby get rid of sub-standard persons posing as contractors. Government has been urged to pass the Construction Industry Development Authority (CIDA) Bill…
-
Prices of foodstuff to go down this month – ESOKO Ghana predicts
Commodity Analyst, Esoko Ghana, says the prices of some foodstuff are likely to see a further reduction in the month of August. The prediction is based on the rains witnessed in the first half of the year as well as the easing of COVID-19 restrictions. In July, there was significant price reductions for some commodities…
-
We’ve instituted stringent measures to detect distressed banks – BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank has put in place stringent measures to rapidly detect signs of distress exhibited by financial institutions, to immediately step in and protect the funds of depositors. The Governor says the measures include tightening of the bank’s supervisory role to stop the…
-
Construction Industry Chamber expresses concern over rising cost of building materials
The Ghana Chamber of Construction Industry has expressed concern about the rising cost of building materials particularly cement and its impact on the cost of housing. The Chamber says considering the country’s huge housing deficit and the rising cost of rent, it is imperative that government takes steps to ensure a reasonable pricing of goods…
-
Chamber of Commerce and Industry lauds ‘Talk Tax’ reduction
The Ghana National Chamber of Commerce and Industry has lauded government for its decision to reduce the Communication Service Tax, also known as ‘Talk Tax’ from 9 to five percent. As part of efforts to mitigate the economic impact of Covid-19 on individual consumers and businesses, government announced the reduction in the Mid-year budget to…
-
La Palm Royal Beach Hotel staff protest again over unpaid salaries; want CEO sacked
Some staff of the La Palm Royal Beach Hotel in Accra on Monday, July 3, 2020, demonstrated for the second time in about two weeks over unpaid salaries and other matters. The angry employees are also demanding the removal of the CEO, Abena Pokua Boaitey Amoah, over her supposed poor leadership. They are also demanding…
-
Accident Investigation & Prevention Bureau Bill passed to boost air transport safety
Parliament has passed the Accident Investigation and Prevention Bureau Bill, 2020. The Bill, which was approved by Cabinet last month, seeks to among other things establish an autonomous Aircraft Accident Investigation and Prevention Bureau. When assented to by the President, it will boost confidence and safety in Ghana’s air transport sector, and put the country…
-
BoG to build additional reserves to deal with cedi depreciation
The Bank of Ghana says it intends to build additional reserves of up to 300 million cedis to stabilize the country’s currency. This will be a medium-term solution to prevent the free fall of the cedi. The currency has performed marginally well within the first half of the year, compared with other major currencies such…