Home » Business (page 10)

Business

Tullow Oil share price soars after favourable Ghana dispute ruling

Tullow Oil Plc (LON:TLW) shares surged this morning, after the weekend ruling by the International Tribunal for the Law of the Sea (ITLOS) rejected Côte d’Ivoire’s demand that work on a Tullow-operated field in disputed waters off the coast of Ghana be stopped. Tullow’s shares had jumped 4.43 percent to 436.50p though they had earlier surged as much as nine ...

Read More »

Govt grosses $109m as revenue and taxes from crude oil exports

The state has realized 109 million dollars from the exports of crude oil and taxes for the first quarter of this year. This was contained in the petroleum receipts and distribution report for the first three months of 2015. The report also showed, minus the taxes paid by other operators on the Jubilee Field, that government actually realized 107 million dollars from the exports ...

Read More »

Civil servants to lose jobs in 2017 – IMF confirms

Government is set to embark on a program to rationalize the size of the public sector workers by 2017, a new IMF staff report on Ghana has announced. The 87-page report, gives details of Ghana’s program with the IMF, including the conditions that the country is expected to meet before further disbursements are made. According to the report, Government will undertake; ...

Read More »

State loses millions from undervaluation of imported fruit juice

Some local producers of fruit juice have decried what they describe as a consistent undervaluation of some brands of fruit juice by local importers at the Tema Port. In some instances, they said different rates were charged for the same brand of product from the same supplier on the same day.They contended that the significantly different values which were quoted ...

Read More »

Return IMF’s Cash – Nkrumah Son Tells Mahama

Dr Onsy Nathan Kwame  Nkrumah, son of late President Kwame Nkrumah, has appealed to President Mahama to refund any cash his government has received from the International Monetary Fund(IMF) through the bailout deal between Ghana and the IMF,  reiterating strongly that the deal is not in the best interest of the country. According to him, “The best way to get out of this bad deal is to send them their $114 million cheque back post-haste ...

Read More »

IMF: Ghana could be HIPC by end of 2015

According to the International Monetary Fund (IMF), Ghana’s total public debt could  hit the dreaded 70% mark by the end of this year. If this prediction by IMF Fiscal Monitor – released at the on-going IMF/World Bank spring meetings in Washington DC – comes to pass, then it would be official that Ghana is a Highly Indebted Poor Country (HIPC). ...

Read More »

FOREX RATES

  FOREX RATES GHS Exchange Rates in GHSs UNITED STATES 3.8450 AUSTRALIA 2.9962 CANADA 3.1532 SWITZERLAND 4.0173 CHINA 0.6206 EUROPEAN UNION 4.1326 UNITED KINGDOM 5.7397 INDIA 0.061668 JAPAN 0.032282 SOUTH AFRICA 0.3209 As of April 16, 2015

Read More »

Accra named residential hub for wealthy Africans

  The capital of Ghana, Accra, has been listed among the few African cities with the most millionaires. Johannesburg occupied the top spot as the African city with the most multimillionaires in Africa. Other cities that made the list include Lagos ,Nairobi, Cairo, Luanda and Dar es Salaam. According to a report published by CNN Accra has over the years ...

Read More »

$114m IMF money hits BoG’s accounts

The first tranche of the 114 million dollars promised Ghana under the International Monetary Fund bailout hit the accounts of the Bank of Ghana Tuesday afternoon. Joy Business sources have confirmed that the central bank saw its foreign currency reserves increased by 114 million dollars today. However, critics are still questioning if the amount can help halt the cedi’s depreciation.

Read More »

Oil marketer predicts fuel shortage in coming days due to cedi fall

Oil marketing companies are beginning to worry the continuing depreciation of the cedi will soon affect the supply of petroleum products to the market. It is only 4 months into the year and the cedi has already depreciated by about 15% against the US dollar. For just $1 one needs GH¢3.80. Oil marketing companies such as Star Oil say unless ...

Read More »

Send this to friend