Category: Top Stories
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Private Industries call for introduction of import license
CEO of the Private Enterprise Federation (PEF), Nana Osei Bonsu has called on government to introduce an import license policy to regulate the country’s imports. An import license is a document issued by a national government authorizing the importation of certain goods into its territory. According to him such a move has become critical as…
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Fuel prices cross GHs. 23.00 at the pumps
Fuel price has hit an all-time high at the pumps with Petrol selling at GHS17.99 per liter and diesel retailing at GHS 23.49 a litre. This comes barely three days after members of the Ghana Road Transport Union announced an increment in transport fares by 19 per cent due to the rampant increase in fuel…
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We’ve not conspired with any operatives to transfer funds offshore – BoG
The Bank of Ghana has debunked allegations by the Director of Research at the Ghana Trades Union Congress (GTUC), Dr. Kwabena Nyarko Otoo that it is collaborating with some operatives at Cow-lane in Accra to illegally transfer funds offshore. The Central Bank says it vehemently denies the said allegations and also considers them extremely reckless.…
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There won’t be ‘haircuts’ on your investments – Akufo-Addo assures
The President, Nana Addo Dankwa Akufo-Addo has assured that government does not intend to slash the returns made on investments as speculated. President Akufo-Addo gave the assurance when he addressed the nation on Sunday following economic challenges currently confronting the country. “I also want to assure all Ghanaians that no individual or institutional investor, including…
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Our negotiations with IMF progressing smoothly; ignore contrary claims – Gov’t
The Ministry of Finance has rejected claims that its negotiations with the International Monetary Fund (IMF) for a bailout have not been smooth as projected. A statement from the Ministry said such claims are untrue and should be disregarded. Some reports in the public domain say the negotiations are not going well because the Fund…
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Petrol, diesel prices to go up further to ¢18 and ¢20 by mid-November – IES
As the country continues to suffer continuous fuel price hikes and increases in transport fares, consumers may have to brace themselves for more shocks in the coming weeks. This is because the Institute for Energy Security (IES) is predicting petrol and diesel prices to go up further to ¢18 cedis and ¢20 per liter for…
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Business community has no option than to increase prices – Asaki Awingobit
The Importers and Exporters Association of Ghana is bitterly lamenting the government’s refusal to take measures that will cushion the business community, in the wake of the economic hardships. According to the association, it is regrettable that the government promised to reduce the tax burdens on importers and exporters, only to turn its back on…
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There is more to be done to revive the Cedi – Economist Patrick Asuming
An Economist Dr. Patrick Asuming has stated that although the cedi has slowed down its depreciation against major trading currencies, there’s still more government needs to do to stabilize it. The rate of depreciation of the Ghana cedi to the US dollar slowed down on Tuesday, following weeks of free fall as the government takes…
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Q3 2022: UBA’s Gross Earnings hit N608bn, Reports 12.3% Growth in Profit
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced remarkable performance in its unaudited financial results for the third quarter that ended September 30, 2022, recording impressive growth across all its major indices, replicating the commendable performance it achieved in the first two quarters of the current fiscal year. Specifically, the bank’s Gross…
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BoG revokes license of two popular forex bureaux in Accra
The Bank of Ghana has revoked the license of the Airport City Forex Bureau within the Atlantic Tower building and Trade House Forex Bureau Ltd, a popular forex bureau at the Marina Mall. The closure follows the failure of the operators to issue receipts and the breaching of Foreign Exchange laws in the country. The…