Tag: Ghana Business News
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Petroleum prices to drop by 3% in March
Prices of petroleum products are expected to drop by about 3 percent for the first pricing window in March. The pricing window spans Thursday, March 1, 2018 to Thursday, March 15, 2018. According to the Institute of Energy Security (IES), the drop can be attributed to the reduction of crude oil prices on the international…
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Farmers lament losses over poor seeds supply
Some farmers who benefited from the supply of seeds under the Planting for Food and Jobs program, have begun counting their losses as it is emerging that they were supplied with grains rather than seeds for cultivation. The situation the farmers say has left them desperate as they are unable to meet targets and sustain…
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Standards Authority clamps down on substandard electrical gadgets
The Ghana Standards Authority has served notice it will confiscate all substandard electrical gadgets and equipment. The authority has also warned it will pursue and sanction appropriately, persons who deliberately engage in the dumping of such products onto the Ghanaian market. The caution forms part of moves to develop and enforce standardization on the Ghanaian…
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Producer Price Inflation drops to 7.7%
The Producer Price Inflation (PPI) has dropped to 7.7 percent for January 2018. This represents a 1.2 percent reduction compared to the 8.9 percent recorded in December 2017. The Producer price inflation measures the average change over time in prices received by domestic producers for their goods and services. Speaking at a press conference in…
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Parliament to pass another law to track tax evasion
Parliament is considering the passage of yet another law to track tax revenue of business owners who operate both in and out of Ghana. The Standard for Automatic Exchange of Financial Account Information Law will allow the Ghana Revenue Authority (GRA) to request for tax information on the operations of such business that happen outside…
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Food prices increase by 150%; expected to last for 4 months
Consumers should brace themselves to pay more for the same quantity of food they purchase at least for the next four months. This is the warning from Esoko Ghana. It follows the increase in the prices of foodstuffs which is expected to drag for some time. Citi Business News’ checks at some major markets in…
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No dollar shortage due to attacks – Forex Bureaus
The Ghana Association of Forex Bureaus has allayed fears of an imminent shortage of dollars following increased robbery attacks on its members. Though the association admits to the impact on some of its members, it believes the issue should be addressed soon to prevent loss of cash to the attackers. For the first two months…
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Expresso appeals for more time over losing license
Appeals for an extension of the timeline leading to possible revocation of the license of Expresso have intensified with barely a week to elapse. The workers’ union of Expresso, tells Citi Business News, efforts to secure an investor should turnaround the fortunes of the company, soon. The Minister of Communications Ursula Owusu Ekuful has served notice…
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Mixed expectations meet new date for Eco (Audio)
There are mixed expectations over Ghana’s ability to meet the new implementation date for the West African common currency, the Eco. The country is racing against time to meet the 2020 timeline. The dream for a single currency has continuously failed to materialize as the deadline for implementation has been postponed several times to 2020.…
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Glo races against time to stop revocation of license
Citi Business News’ sources at Telecommunication company, Glo, have disclosed that the company will meet the thirty (30) day ultimatum by the National Communications Authority (NCA) to avert a revocation of its license. Persons close to the matter say the company’s confidence is premised on what it describes as the continuous engagement with the NCA…