BUSINESS

Heads appear to be rolling following the collapse of two financial institutions – UT Bank and Capital bank – on Monday as a result of their insolvency. Information reaching DAILY GUIDE indicates that Stephen Antwi-Asimeng, Chief Executive Officer (CEO) of the defunct UT Bank and Gillian Slater, Chief Operating Officer (COO), have been asked to go home with immediate effect. ...

The Institute of Energy Security has hinted of fuel prices going up by 5%. According to IES Principal Research Analyst, Richmond Rockson, the increase is as a result of “upward adjustments of Brent crude oil price as well as prices of finished products on the international market, the depreciation of the Ghana Cedi and stock levels in-country”. He said the ...

A man has five senses. But when you sit in the Alfa Romeo Stelvio, you immediately gain two more. With its pedestrian object sensors, the car detects obstruction a moment quicker than a tired or distracted driver, long enough to prevent a lethal hit. Or take the speed limit function which immediately slows you down when the fun of accelerating ...

Switzerland-based gold company, Swiss Gold Global, says it is not affiliated to Ghanaian gold trader, Menzgold Ghana and has not authorised it or Menzbanc to use its name. Swiss Gold Global in an e-mail conversation with Joy News’ Manasseh Awuni Azure Tuesday, said it has no association whatsoever with Menzgold, contrary to claims by the latter. The revelation contradicts the ...

The writing was on the wall for the collapsed Capital Bank as far back as at least 2014, according to memo sighted and published by the Insight Newspaper in January 2015, which went under the radar at the time. The Insight Newspaper obtained information indicating that the Capital Bank, then First Capital Plus Bank, was on the verge of collapse ...

At least 200 banker to banker illegal lotto operators in the Greater Accra region have formalized their operations with the National Lottery Authority (NLA). The move is part of efforts to sanitize the lottery business in Ghana. The NLA has given all illegal lotto operators up to December to formalize their business or risk closure. It has vowed to clampdown ...

The staff of the erstwhile UT and Capital Banks will undergo skills assessment requirements in order to be employed at GCB bank. At a press conference on Tuesday (August 15, 2017) the Chief Executive Officer (CEO) of GCB, Raymond Sowah said they will retain some staff based on the job skills the employees have. “We shall conduct a skills assessment ...

Staff of collapsed banks – UT and Capital Banks – are to undergo a skills assessment test by new owners GCB bank as it prepares to lay off workers of the two banks. The operations of the two struggling indigenous banks were taken over by GCB bank Monday following the approval of the Bank of Ghana. Addressing the press Tuesday, ...

The Management of UT Life Insurance Company Limited says the recent announcement by Bank of Ghana on the takeover of UT Bank by GCB Bank Limited does not in any way affect UT Life. The Bank of Ghana on Monday announced the liquidation of UT Bank, a subsidiary of UT Holdings and Capital Bank following their inability to pay their ...

The Central Bank has hinted at the possibility of job losses at two collapsed banks, UT and Capital Banks as GCB Bank rolls out its restructuring process, after acquiring them. The revelation by the financial regulator feeds into the fear of the over 900 staff of the two banks that they will be laid off following the transaction. Head of ...