Economy

Bitcoin drops $2,000 in value as South Korea announces planned trading ban

bitcoin

News follows nation’s clampdown on cryptocurrencies as exchanges are raided over alleged tax evasion and fears of gambling addiction  Bitcoin’s 1,500% surge since January 2017 has spurred huge demand, stoking worries of a growing gambling addiction in the country. Photograph: Anadolu Agency/Getty Images The value of bitcoin plunged 13.5% in the early hours of Thursday after news hit that South Korea is ...

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What is cryptocurrency or digital cash?

bitcoin

Few people know, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency. In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer Electronic Cash System.” His goal was to invent something; many people failed to create ...

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December inflation hits 11.8%

inflation rate

The inflation rate for December 2017 increased slightly to 11.8 percent, up from the 11.7 percent recorded in November in the same year, acting Government Statistician, Baah Wadieh announced Wednesday.The monthly change rate, according to Mr Wadieh comes as a result of the rise in the two main components, Food and Non-food Inflation. “The food inflation rate for December 2017 ...

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Ghana To Build Bauxite Refinery – Bawumia

$1 Million per Constituency

Vice president Dr Mahamudu Bawumia has disclosed the government is putting in place the necessary legislation and infrastructure to establish a bauxite refinery in the next two to three years. A bill seeking to set up a Bauxite Development Authority to facilitate the establishment of an Integrated Aluminium Industry will be submitted to Parliament early next year after broad consultations, ...

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Africa Must Implement SDGs With Urgency – Akufo-Addo

SDGs in Ghana

President Nana Addo Dankwa Akufo-Addo wants African leaders to pursue the implementation of the UN Sustainable Development Goals (SDGs) with high sense of urgency. He noted it has become imperative to see the Goals materialized due to the deficit in human development on the African continent, the high levels of poverty and deprivation, climate change and the teeming numbers of ...

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If this was the best year of your life, What Would Have to Happen?

Best Year

Before 2017 ends, don’t let the negative appraisal or negative opinion of your supervisor or superior or manager or boss or employer about your competence or skills define your sense of self-worth. Let it not cause you to doubt the dreams you have or to dilute the aspirations you have for the future. Instead of allowing the negative comments and ...

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Government will lose GHC13.6m monthly

Seth Terpker

It is estimated that government will lose GH¢13.6 million every month due to the reduction of seven pesewas in the Price Stabilisation and Recovery Levy (PSRL) on diesel and Liquefied Petroleum Gas (LPG). This comprises GH¢11.9 million directly from the PSRL on the two products and GH¢1.7 million from the Special Petroleum Tax, which is charged on all taxes on ...

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Former World Bank Vice warns………….

Professor Yifu Lin on Ghana

A former senior vice president at the World Bank, Professor Yifu Lin, has warned that Ghana risks losing out on huge investments if it fails to embark on drastic economic reforms. Ghana recently dropped 12 places in the latest World Bank Ease of Doing Business report. Prof Lin believes such reforms could attract the relocation of light manufacturing firms from ...

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#2018GHBudget: The end of graduate unemployment – Ofori-Atta

graduate unemployment

In an effort to curb graduate unemployment, the government will soon introduce the Nation builders corps which will address issues of graduate unemployment. Presenting the 2018 Budget Statement and Economic Policy on Wednesday, Ken  Ofori-Atta said: “We have returned to robust growth with a real GDP growth of 7.8%…We have reduced inflation, and October inflation of 11.6% from 15.4% end ...

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Economist Caution Finance Minister against fuel revenue

Fuel Revenue

As the Finance Minister Ken Ofori Atta prepares to present the 2018 budget statement before parliament tomorrow, some financial observers have cautioned against ambitious oil revenue projection. According to them, previous experiences must serve as a guide to the government as Ghana has no control over the price of oil. In the 2017 mid-year budget review presented by the Finance ...

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