BUSINESS

An Industrial vessel Lu Tong Yuang Yu 956 (AF756) has been fined one million dollars for illegal unreported unregulated fishing. The vessel was discovered by the Western Naval Command of the Ghana Navy whilst on sea patrol on Sunday June 16, 2019 to be dabbling in IUU and was arrested. The vessel was heading to Cote D’Ivoire for fishing. A ...

The Chairman of the Finance committee of Parliament, Dr. Mark Assibey-Yeboah, has accused telecommunications companies in the country of bad faith regarding the implementation of the recently increased Communications Service Tax, (CST). The tax which was reviewed upward from 6 to 9 percent now sees credits of customers deducted at the point of recharge. The move has resulted in complaints ...

Founder of collapsed Capital Bank Ato Essien has been hit with 26 charges by government over his role in the fall of the bank. The outspoken businessman was charged alongside three others at the High Court on Wednesday. The others include Fitzgerald Odonkor, Tetteh Nettey and Kate Quartey-Papafio who were all executives of the bank. Portions of the write said: ...

Vice President, Dr Mahamudu Bawumia, on Saturday joined Naa Abe-ifaa Karbo III, Paramount Chief of the Lawra Traditional Area, to climax the commemoration of their 43rd Kobine Festival which celebrates the efforts of farmers. Dr Bawumia recounted multiple successes of social and agricultural interventions introduced by government to improve living conditions of the populace. He said President Nana Addo Dankwa ...

Total Petroleum Ghana Limited (Total Ghana), a leading oil marketing company in the country, has been adjudged the Petroleum Company of the Year at the Chartered Institute of Marketing Ghana (CIMG) Award held in Accra. A statement issued in Accra said the citation from CIMG commended Total Ghana for putting measures in place to be the preferred brand amongst the ...

Executive Director of the Institute for Fiscal Studies (IFS), Prof. Newman Kwadwo Kusi, has decried the quantum of tax revenue that goes into debt repayment – saying it is time government put in efforts to restructure the tax system to rake in more revenue. According to the economics professor, 84 percent of the country’s tax revenue goes into repaying interest ...

Power distributors, PDS say they have fixed the challenges that made it impossible for some consumers to purchase power during the weekend. “Affected customers can now visit their District Office or the closest prepaid vendor shop to buy,” a communiqué from PDS said. Consumers took to social media to complain about the difficulty in purchasing power over the weekend. Others ...

The African Centre for Energy Policy (ACEP) is predicting that Ghana will not be able to repay its $2 billion barter agreement with China if it relies solely on revenue from the proposed Integrated Aluminum Industry. This is contained in a paper published by ACEP that analyses the plan as put out by government. Parliament in July 2017 approved the ...

Chief Executive Officer of Tropical Cable and Conductor Limited Dr Tony Oteng-Gyasi has revealed that he has the potential to turn around the fortunes of suspended electricity service distributor, Power Distribution Services (PDS), when given the chance. According to him, the price of power will reduce if PDS is efficiently managed. He admitted that people will benefit and make money ...

Utility consumers will from today see an upward adjustment in their tariffs, the Public Utilities Regulatory Commission (PURC). Both water and electricity have been affected in the latest adjustment. A statement announcing the changed said: “Following a review of Electricity and Water Tariffs for the fourth Quarter 2019 which is from October – December 2019, the PURC wishes to announce ...