Economy

LETTER TO MY SON…”THE CROWN & THE CLOWN

son

Dear Son, I don’t know how you would meet this letter; as a child full of wonders, a teenager full of curiosity and opinions or as a man with women at your feet. All I know is you would meet it with a clenched fist, ready to fight on. Son, I chose this day to write to you because we ...

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No one will be shielded …Prez declares on collapse of 7 banks

President Nana Addo Dankwa Akufo-Addo has said that government will not shield anyone found to have played a role in the collapse of the seven local banks. The President, speaking at the opening of the new head office complex of Standard Chartered Bank in Accra, bemoaned the cost of rescuing the seven banks to the tax payer adding that the ...

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Nduom begins national campaign tour against panic withdrawals

The Chairman of GN Bank, Dr. Papa Kwesi Nduom has begun a nationwide tour aimed at appreciating customers who have remained loyal to the country’s indigenous banks. Themed, “Stop the panic withdrawals and strengthen indigenous banks”, Dr Nduom will use the opportunity to urge the population in general to avoid panic bank withdrawals as it may negatively affect the operations ...

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Facebook admits it ‘made mistakes’ after top exec appeared at Kavanaugh hearing

Facebook has admitted it “made mistakes” after a top executive was seen attending Judge Brett Kavanaugh’s congressional hearing, reportedly prompting outrage from employees. Joel Kaplan, the head of global policy at Facebook and a long-time friend of Judge Kavanaugh sat two rows behind the nominee as he testified regarding allegations that he sexually assaulted Christine Blasey Ford while in high school. Employees saw ...

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US markets have a trade war edge over China: Commodities

With the American markets on a tear and Chinese shares on a downturn, it appears that U.S. stocks are weathering the escalating trade war far better than China’s. One reason for the trend is due to Chinese markets’ exposure to non-energy commodities, according to a study published in August by Axioma, a risk and performance analytics provider. “The tariff spat caught China more exposed to changes in broad non-energy ...

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3 ‘big’ economies slow down growth in sub-Saharan Africa

The World Bank has described growth in sub-Saharan Africa as very slow in the October edition of the Bank’s biannual report dubbed, Africa’s Pulse. The region recorded a growth of 2.7 percent, in 2018 which is a 0.4 percent rise from the 2.3 percent recorded in 2017. The Bank has attributed the marginal growth to the sluggish expansion in the ...

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PURC begins review process for 2019 tariffs

The processes for the review of tariffs have begun with a directive to the utility companies to make their proposals available in order for it to be captured in a newly developed template for the Public Utilities Regulatory Commission (PURC). The utility companies have up to the end of October 2018, to make their input into the template and submit ...

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GRA deploys tax officers to enforce tax stamp

The Ghana Revenue Authority (GRA) has created all the needed condition for stakeholders to comply with the tax stamp directives but some firms have remained unconcerned, the Chief Revenue Officer at the GRA and the Head of Excise Unit, Mr Kwabena Apau Anto, has said. He said the officers of the GRA would be stationed at the various factories for ...

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Cut expenditure, corruption to reduce debt stock – ISSER

The Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana has called on the government to focus on tackling the country’s growing public sector debt. The Institute says failure to meet domestic revenue mobilization targets, coupled with increasing government expenditure makes it difficult to deal with the debt situation. Presenting ISSER’s State of the Ghanaian Economy 2017 ...

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