Tag: Ghana Business
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Mixed reactions meet BoG’s $ 120m auction
There are mixed reactions over the Bank of Ghana’s decision to auction 120 million dollars to commercial banks between January and March this year. A calendar issued by the central bank said it will auction 40 million dollars monthly, to the commercial banks between the three month period. The move follows a similar one carried…
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IFS cautions against terminating IMF deal
The Institute for Fiscal Studies (IFS), has cautioned of massive cuts in foreign aid and grants should government terminate the agreement with the International Monetary Fund, IMF. According to the Institute, Ghana’s stay with the IMF program has sustained support from some donor agencies. “Complete termination is not advisable because most of our development partners…
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![Kumasi goes silent over Asantehemaa’s burial [Photos]](https://citibusinessnews.com/wp-content/uploads/2017/01/NEW-5-1-1.jpeg)
Kumasi goes silent over Asantehemaa’s burial [Photos]
The capital of the Ashanti region, Kumasi, is virtually ‘dead’ over the directive banning almost all business activities in the city. Checks by Citi Business News indicate that traders in major suburbs in the region are complying with the directive. The move also follows the conclusion of the burial rites of the late Asantehemaa, Nana…
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OMCs justify petroleum price increases
Oil Marketing Companies (OMCs) in the country have justified the continuous increases in prices of petroleum products this month. The deregulation of the downstream petroleum sector allows OMCs to review prices of petroleum products every two weeks. However since the beginning of the year, prices are being reviewed every week. Prices of petroleum products increased…
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Business activities halted in Kumasi over Asantehemaa’s funeral (Audio)
All business activities in Kumasi will come to a halt today following a directive asking business operators among others to not undertake any business activities due to the late Asantehemaa’s funeral rites. With the exception of hospitals, fire service, security, water, ECG and ambulance service providers, all others have been banned from undertaking any business…
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Reducing Ghana’s debt levels; MMDAs must generate their own funds – IFS
Government has been impressed upon to adopt fiscal decentralization policies and reduce the stress on the national budget. Proponents of this policy believe the overdependence of local governments on the national budget has contributed to increasing government obligations and subsequently the rising debt levels of the state. In its latest report on the economic priority…
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Food prices reduce in Accra markets
Prices of foodstuffs in the various markets in Accra have dwindled, traders have told Citi Business News. This is contrary to assertions that prices of foodstuffs have increased across markets in the national capital. Checks by Citi Business News across the various markets reveal that most foodstuffs are still selling at the old prices while…
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Traders lament Thursday’s ‘curfew’ over Asantehemaa’s funeral
Some traders in Kumasi have expressed worry over the financial losses they will incur following the announcement by traditional rulers of the Asante kingdom for all activities to cease on Thursday, January 19, 2017. This follows orders from the Manhyia Palace for trading activities to be ceased on Thursday due to the ongoing funeral of…
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Stock market to bounce back after bearish 2016 performance
The Ghana Stock Exchange is projected to perform well this year despite a poor performance last year. The Ghana Stock market ended 2015 with a negative growth with managers of the market further predicting the same situation for 2016. Despite the challenges some stocks brazed the odds and performed well last year. A study of…
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Investigations into DKM bribery allegations to end next week
Investigations into alleged reports of bribery against workers and security personnel of GCB bank by DKM customers are expected to be completed on Friday 27th January, 2017. The police, upon request from the Registrar General’s Department, who are official liquidators of DKM micro finance company, early this month begun investigations into the matter. “Some of…