Tag: Ghana Business
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Domestic air travel volume unchanged during Xmas
Despite the increased travels that usually characterise festive seasons, domestic airlines are yet to witness any of such increases. The airlines say the volume of patronage of air transport has not changed significantly during the Christmas season. According to them, the numbers have been almost the same as expected for their fleets. “Patronage has not…
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Ignore false reports on our 32 million cedis loss – BOST
The workers’ union of the Bulk Oil and Storage and Transportation Company (BOST) Limited, has shot down media reports that BOST has posted 32 million cedis between January and September this year. The union described the publication as an attempt to run down the gains made by the company in the oil and gas sector…
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Private sector is key in restoring ‘damaged’ ecosystem – Environmentalists
The Chairman of the Biometric Offset Business Scheme, Dr. Yaw Osei-Owusu has stressed the need for private sector participation should the NPP government achieve its target of restoring 30,000 hectares of degraded lands per year, as it assumes governance. In the build up to the election, President elect Nana Akufo Addo outlined plans to rebuild…
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Hamper sales pick up ahead of Christmas (Audio)
The hamper business usually booms during the festive period each year. But it appears the situation is different this year as traders in the supply chain comment of a relative drop in demand. Checks by Citi Business News at some cane weaving hubs in Accra also reveal that the general elections have had minimal impact…
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TOR to refine 18 million barrels of crude in 2017
The Tema Oil Refinery (TOR) has announced it will from next year refine between 16 to 18 million barrels of crude oil. The crude will be from the Jubilee oil fields and subsequently other oil fields in Ghana. The Managing Director of TOR, Kwame Awuah Darko disclosed this when he addressed staff of the company…
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GTP sacks 178 workers in 2016
Ghana Textile Printing (GTP) Limited, has laid off 178 workers over operational challenges. The affected staff comprises 138 permanent and 40 casual workers. The Marketing Director of GTP, Rev. Stephen Kofi Badu who disclosed this to Citi Business News attributed the situation to a restructuring of the company’s operations to sustain its viability. “Two major…
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NPP gov’t must continue legacy debt payments – HFC MD
The Managing Director of HFC bank, Robert Le Hunte is optimistic the incoming Nana Akufo-Addo government will continue with the plans laid down by the Ministry of Finance in paying the legacy debt. According to him, the change in government should not in any way alter the process already agreed on to pay the affected…
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Ghana loses $54 billion to galamsey, deforestation – Group
Ghana is losing over 54 billion dollars annually due to the wrongful use of natural environmental resources. This is according to the Chairman of the Biometric Offset Business Scheme (BOBS) Dr. Yaw Osei-Owusu. In his view, unregulated activities such as illegal mining, water pollution, deforestation among others, are causing the country huge economic loses annually.…
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Trade Minister must get rid of foreign retailers – Traders
Getting rid of foreign retailers and fulfilling promise to cut down VAT to 3 percent from the 17.5 percent, should be on top of the agenda of the Trade and Industry Minister designate, Alan Kyeremanteng. This is the position of spare parts traders at Abossey Okai in Accra. According to the spokesperson for the traders,…
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Gas shortfall won’t result in ‘dumsor’ – Power Ministry
The Ministry of Power is convinced that a possible cut in gas supply in the country won’t adversely affect the production of electricity. According to the Deputy Minister of Power, John Jinapor, the country’s power producers can rely on crude oil to power the various power plants to adequately serve the energy needs of Ghanaians…