Category: Top Stories
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Ghana’s real estate industry can recover despite impact of COVID-19 – Greg Pearson
Players in the real estate industry are hopeful of a major turnaround of the sector locally, despite the impact of the COVID-19 pandemic. The sector took a nosedive due to the outbreak of COVID-19. Several months down the lane, with a global rollout of vaccines, easing of some restrictions, economies have begun to pick up.…
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Ghana must become shareholder in oil extraction to boost earnings – Energy Consultant
Energy Consultant Dr Yussif Sulemana says Ghana must move from relying on returns from royalties to maximise its revenues from the extractive industry. His comment is a reaction to an analysis done by the Institute of Fiscal Studies (IFS) that showed that Ghana’s revenue from its oil was about a quarter of that of Nigeria…
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New petroleum hub will give economy a major boost – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has expressed confidence in the ability of the upcoming petroleum hub, saying it will drastically improve the fortunes of Ghana’s petroleum industry. Parliament last year passed the Petroleum Hub Development Corporation Bill, to facilitate the establishment of a petroleum and petrochemical hub in the country, which will be provided with…
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GUTA backs calls for reversal of 50% benchmark value reduction on crude palm oil
The Ghana Union of Traders Association (GUTA) has backed calls by the Oil Palm Development Association of Ghana and the Artisanal Palm Oil Millers and Outgrowers Association of Ghana for the scrapping of the 50% Benchmark Value Reduction Policy on crude palm oil and palm kernel oil. According to GUTA, even though the country cannot…
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We don’t expect ban on setting up of LPG stations to be lifted – Bureau of Public Safety
The Bureau of Public Safety says it does not expect the ban on the construction of Liquified Petroleum Gas (LPG) stations in the country to be lifted. It says it rather anticipates the green light for the siting of LPG cylinder recirculation distribution points to be given. Chief of Party at the Bureau of Public…
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Banking clean-up: Government charged to retrieve locked-up cash from indicted persons
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has charged government to pursue and retrieve all monies from persons found culpable of taking monies from banks, following the banking sector clean-up exercise. Governor of the Bank of Ghana, Dr. Ernest Addison disclosed back in May 2021 that…
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State Owned Enterprises to be ranked to improve performance
As part of measures aimed at ensuring the efficiency of State Owned Enterprises (SOEs) in the country, a system which will show their individual performances will soon be put in place for public consumption. This was announced by the Public Enterprises Minister, Joseph Cudjoe. The value of Ghana’s 126 State-Owned Enterprises (SOEs) is GH¢110 billion,…
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![Construction industry still suffering as prices of building materials keep increasing [Video]](https://citibusinessnews.com/wp-content/uploads/2021/09/building-blocks.png)
Construction industry still suffering as prices of building materials keep increasing [Video]
For months now, prices of building materials in Ghana have seen a consistent surge, with no sign of respite soon. The price of cement, for instance, has increased by almost 43 percent between December last year and September 2021. The situation, according to analysts, is having a dire effect on the building industry. In this…
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Investigations commence into aborted KLM flight; report expected in two months
The Aircraft Accident and Incident and Prevention Bureau has commenced investigations into the bird strike incident involving a KLM Aircraft last Saturday. The bird strike affected an area close to the aircraft’s windshield. A statement from the bureau said it expects the investigation to be completed within two months. Former Director-General of Ghana Civil Aviation…
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Prof. Quartey cautions against a return to ‘dark days of banking’ in Ghana
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has cautioned against a return to the dark days of the banking industry in Ghana. According to him, the new board of the Bank of Ghana should among other things continuously assess the soundness of the industry to ensure…