Category: Top Stories
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NIC takes steps to end market fires
Commercial buildings including outlets and structures for markets will henceforth only be granted operating permits if they are given the needed clearance from the National Insurance Commission. According to the Commission, such a move is necessary to reduce to the barest minimum the occurrence of fire outbreaks at commercial centres. For years, the country has…
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Producer Price inflation decrease marginally in October 2020
The Producer Price Inflation (PPI) for October 2020, saw a decrease compared to the same period last month. The PPI decreased by 1.3 percentage points, recording 8.4 percent, compared to the 9.7 percent recorded within the same time in September 2020. This means the year-on-year PPI, thus between October 2019 and October 2020, increased by…
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Government must exempt tourists from paying $150 for COVID-19 test – Tourism Chamber
The Chamber of Tourism Industry Ghana is calling for persons who come into the country by air bearing tourist visas to be exempted from paying the $150 for the COVID-19 test. According to the Chamber, this will help encourage more persons to visit the country and in the long run increase patronage of tourist sites.…
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Blackshied customers, others to receive partial payment of up to GHS50,000 – SEC
Government has authorised a partial payment of up to GHS50,000 to all customers of the remaining defunct Fund Management Companies whose monies were locked up. This follows an earlier directive by government to pay customers whose claims were validated. A statement issued by the Securities and Exchange Commission (SEC) on Wednesday, November 18, 2020, said…
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IES predicts marginal decrease in cost of fuel for first pricing window in November
Consumers of petroleum products should be paying lower prices for fuel they purchase at the various pumps, for the next two weeks in November 2020. This is according to energy think tank, Institute of Energy Security (IES). IES, in a statement, attributed its prediction to the decrease in prices of International Benchmark- Brent Crude, the…
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Stakeholders in banking sector hopeful of more digital means of providing services
In a world where technology seems to be permeating every facet of life, stakeholders in the banking industry are hopeful of a complete digital transformation in all transactions. The COVID-19 pandemic, which unexpectedly hit every sector in the world forced individuals and companies to come up with innovative ways to survive. Most people ended up…
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Economists expect Ghana’s policy rate to be maintained
Ahead of the commencement of the 97th Regular Meetings of the Monetary Policy Committee of the Bank of Ghana, some economists have told Citi Business News that they expect the Central Bank to maintain the rate for a fourth consecutive time. They attribute their expectations on the high fiscal deficit of the country. The 97th…
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COCOBOD denies allegations of corruption, money laundering in Agri-Plus deal
The Ghana Cocoa Board (COCOBOD) has rejected accusations that its contract with Agri-Plus Horizon Farm Limited for the supply of insecticide was riddled in nepotism, corruption and money laundering. Documents reportedly released by the Financial Intelligence Centre (FIC) and purportedly sent to the Special Prosecutor claimed that COCOBOD awarded the contract to the company by…
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AfCFTA Secretariat to address dumping of substandard goods concerns of member states
The African Continental Free Trade Area (AfCFTA) Secretariat has hinted of plans to address concerns of standardization of goods and services by some member countries. The Secretariat says the various standardization authorities across the continent are collaborating to address the issue. Nigeria’s borders have long been closed over concerns of dumping of poor quality good…
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Chartered Institute of Bankers to launch Code of Ethics to curtail fraud
As part of efforts to reduce the number of fraud cases perpetuated by employees within the banking industry, the Chartered Institute of Bankers in collaboration with the Bank of Ghana and the Ghana Association of Bankers will soon launch the Ghana Banking Code of Ethics. According to the latest banking industry fraud report from the…