Category: Business
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Producer Price Inflation for April records 7.1 percent
The Producer Price Inflation (PPI) rate for April 2019 has hit 7.1 percent. This shows a monthly change rate of 0.9 percent when compared to March 2019. The PPI measures the average change over time in the prices received by domestic producers for their goods and services. Speaking at a press conference, the Government Statistician…
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Stakeholders disappointed with low number of bids for new oil blocks
Stakeholders in the oil and gas sector have expressed their disappointment in the low number bids submitted for the 3 oil blocks put up for competitive bidding by the Government. At the close of the submission date for bidding yesterday, only 3 bids were submitted. Tullow Oil bid for block 3, ENI and Vitol jointly…
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SMEs urged to pay employees on maternity leave from pension contributions — HR Expert
A Human and Industrial Relations Expert, Rose Karikari Annan, is advocating for government to allow small and medium firms to use part of pension contributions of their employees to pay their maternity leave. She argues that some of the firms are unable to pay their female employers when they proceed on maternity leave due to…
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We will comply with BoG’s forex rules — Hoteliers
The Ghana Hotels Association has told Citi Business News they are ready to comply with rules set by the Bank of Ghana to desist from pricing their services in foreign currencies. The Bank of Ghana recently reiterated its prohibition on the pricing, advertising and receipt or payment for goods and services that are contracted locally…
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WAGP-Ghana Gas pipeline ‘Tie-In’ for ENI’s OCTP Gas: A stitch in time
Until recently, gas from offshore oilfields in the western coast of the country only terminated at the Aboadze thermal power enclave in the Western Region. Aside Ghana Gas having the capacity to deliver 150 million standard cubic feet per day (mmscf/d) for power generation, additional gas from Eni’s Offshore Cape Three Point (OCTP) Integrated Project…
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Exxonmobil, BP withdraw bids for new oil blocks
US oil giant, ExxonMobil and British Petroleum (BP) have pulled out from bidding for oil blocks in West African country, Ghana, in the ongoing Licensing Bid Round. The two International Oil Companies (IOCs) had earlier submitted applications for direct negotiations for block 5&6, but pulled out at the latter stage of the bid round. The…
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“Buy from Ghana” Real Estate Expo to be held May 25
This year’s Buy from Ghana” Real Estate Expo scheduled to take place on the 25th and 26th of May in Maryland USA. The “Buy from Ghana” Real Estate Expo is a 2-day event hosted in conjunction with the annual Adisadel College North America (AOBA-NA), Mfantsipim and St Augustines College Old students in collaboration with Stanbic…
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Scrap appointment of SOEs chief executives by President — Institute of Directors
President of the Institute of Directors of Ghana, Rockson Dogbegah has called for the scrapping of the appointment of CEOs of State Owned Enterprises by the President. According to him, presidential appointments of heads for such entities have contributed to their decline in performance and contribution towards GDP over the years. President Akufo-Addo in April…
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HR Focus partners Standard Chartered to launch finals of HR Focus Business Challenge
HR Focus in partnership with Standard Chartered has launched the final phase of this year’s HR Focus Business Challenge at the Bank’s head office. Eight universities are competing in the Business Challenge which seeks to unearth the entrepreneurial potential and create an avenue for shared learning among students. The 5-month long challenge will give university…
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Energy Ministry closes submission of bids for new oil blocks
The deadline for the submission of bids for the exploration oil blocks put on offer by the government in October last year elapsed at 12 noon today, May 21, 2019. The Ministry of Energy is expected to begin the opening of the bids at 5 pm. The bid process, which was ushered in by President…