BUSINESS

Some Major Oil Marketing Companies (OMCs) have slightly adjusted upward the prices of petrol and diesel. Checks at various fuel stations showed that Shell and Total have increased the prices of petrol and diesel by six pesewas. The two companies are selling a litre of petrol and diesel for GHS5.24 representing a 1.16 percentage increase from the previous price of ...

The Commercial Division of the Accra High Court has added the Attorney-General (A-G) as a defendant to a counter-claim filed by three of the 17 former directors of the defunct uniBank who have been sued for allegedly collapsing the bank. The court, presided over by Ms Justice Abena Dadzie, made the decision after it granted a motion for joinder filed ...

Doing business with the wrong kind of client can be extremely costly for banks. HSBC (HBCYF) had to pay $1.9 billion in 2012 to settle allegations that it allowed international drug cartels to launder billions of dollars across borders. ING (ING) took a $900 million hit in September after admitting criminals had moved money through its accounts. And Danske Bank has in recent months found ...

The Coalition of aggrieved customers of embattled gold dealership company, Menzgold say they will not relent in their efforts to retrieve their monies from the company. According to the customers, although no significant progress has been made in their quest to retrieve their locked up cash, they are resolute in their pursuit. Speaking to Citi News, the President of the ...

The Information Minister, Kojo Oppong-Nkrumah has described as too late, a news conference by the Minority to address the state of the economy and the challenges facing the Cedi. While addressing journalists soon after the Minority did similar at the Parliament House on Wednesday, the Minister said they are known for not having any better alternatives and it was no ...

The Vice President and Head of Ghana’s Economic Management team, Dr. Mahamudu Bawumia, will address questions relating to the state of Ghana’s economy at a Town Hall Meeting slated for April 3 at the College of Physicians and Health Sciences in Accra. The Town Hall Meeting aimed at briefing citizens about developments in Ghana forms part of a new initiative ...

The recent depreciation of the Cedi against major international currencies, especially the dollar, has added GH¢15.3billion to the country’s external debt stock, the Minority has said. The development, according to the Minority, means that Ghana’s external debt stock as at November 2018 will be translated at the current exchange rate into GH¢101.3 billion. This was revealed Wednesday at a forum ...

Ghana Cocoa Board (Cocobod) has sealed a new three-year receivables-backed trade finance facility of US$300 million. The facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of Cocobod and to finance production enhancement programmes. Speaking about the new facility, the CEO of Ghana Cocoa Board Joseph Boahen Aidoo, said: “Ghana Cocoa Board is pleased ...

Deputy Minister of Finance has reiterated government’s support for the National Insurance Commission (NIC) in its quest to recapitalize the insurance industry through increasing of the minimum capital requirements. Kweku Kwarteng said the sector plays a key role in the financial services sector hence the need for a strong foundation to deliver on its mandate. He was speaking at the ...

MTN, Ghana’s leading telecommunications service provider, has launched its 4G+ service to provide faster data speeds with widest coverage for its customers. The 4G+ service runs on 4G LTE Advanced technology using the combination of the 800MHz and 2600MHz for carrier aggregation which is an enhancement on the 4G LTE experience. This provides more capacity and enhanced data speed of ...