Category: Business
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‘Miracle’: Plane carrying 143 people crashes into Florida river, but no deaths
A charter plane carrying 143 people and traveling from Cuba to north Florida ended up in a river at the end of a runway Friday night, though no critical injuries or deaths were reported, officials said. A Boeing 737 arriving at Naval Air Station Jacksonville from Naval Station Guantanamo Bay, Cuba, with 136 passengers and…
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Global sports sponsorship ‘to hit £35bn’ in 2019
Business spending on sports sponsorship is set to grow by 4% to £35bn globally in 2019, according to a new report. But rights-holders, such as leagues, teams or tournaments, are under-exploiting sponsorship deals, according to research from agency Two Circles. It says that there could be an extra £14bn in revenues being unrealised because of outdated…
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ARP Apex Bank makes financial improvement in 2018
ARB Apex Bank, the ‘mini’ Central Bank of the 144 Rural and Community Banks has announced that the bank recorded improvements in most of the important financial indicators in 2018. The bank disclosed this at its Annual General Meeting organized in Ho in the Volta Region. According to the financial statement of the bank, it…
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GCNet deploys Trade Facilitation Platform to boost revenue mobilisation
The Ghana Community Network Services Limited (GCNet), a public-private partnership, has deployed an upgraded version of its end to end smart clearance system for stakeholders to boost domestic revenue collection. The upgraded (Trade Facilitation Platform – TFP) is also designed to enhance user experience and improve the ease of doing business. The TFP, an integrated…
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PIAC commends increase in oil cash invested in agriculture
The Public Interest and Accountability Committee (PIAC) has commended government for increasing the amount of oil revenue invested in the agricultural sector last year. In 2018, more than GH¢251 million was invested in the agricultural sector which represents more than 61 percent increase in the allocation made to the sector in 2017 when government invested…
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Laid off workers of First Atlantic Bank reject redudancy package
The 100 workers laid off following the merger between First Atlantic Bank and Energy Bank have rejected completely the redundancy package offered to them by the new entity created out of the merger. According to persons close to the bank, the affected workers were offered a severance pay of 1.5 months basic salary for each…
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Make SSNIT independent to prevent gov’t interference—Economist
Economist Professor Godfred Bokpin is calling for a policy that will limit the powers of government in appointing the head and Board of Directors of the Social Security and National Insurance Trust (SSNIT) to protect pension funds. President Akufo-Addo during the Workers Day celebration announced that the government will issue a 700 million cedis bond…
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J.A. Kufuor named on MTN’s International Advisory Board
Former President John Agyekum Kufuor has been named on MTN’s International Advisory Board (IAB) alongside former South African President Thabo Mbeki. A statement issued by the telecoms company said the advisory board is a new creation with a goal to guide and support MTN in fulfilling its vision of increasing its footprint across the continent.…
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38 forex bureaux face closure by Bank of Ghana
The Bank of Ghana has threatened to close down forex bureaus that are not complying with its operational regulations. In a letter sent to the Forex Bureaux Association and sighted by Citi Business News, the BoG named 38 forex bureaus that were not complying with the central bank’s regulations. The affected 38 forex bureaux are…
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100 workers of First Atlantic Bank laid off after merger
About 100 workers of First Atlantic Bank have been laid off after the bank completed its merger processes with Energy Bank, Citi Business News has gathered. The merger of the two banks is said to have led to duplication of roles, leading to the redundancy. Also, a restructuring of the bank’s operations resulted in the…