BUSINESS

British Airways will today suspend around 36,000 of its 45,000 staff as coronavirus left the airline on its knees. The airline has reached a broad deal with the Unite union that will include the suspension of 80 per cent of its cabin crew, ground staff, engineers and those working at the head office in Harmondsworth, near Heathrow. The furloughed UK staff are ...

Interplast, West Africa’s leading producer of plastic pipe systems has donated one million, two hundred thousand Ghana Cedis (GHc 1,200,000.00) to the COVID-19 National Trust Fund to support efforts of the state aimed at combating the spread of COVID-19 in Ghana. At a brief ceremony at the Jubilee House to present their cheque, the Managing Director of Interplast, Hayssam Fakhry, ...

The Institute for Energy Security (IES) is forecasting between 16 and 24% drop in the price of fuel on the local market in the first Pricing-window for April 2020. This is due to the significant fall of 33.36% in the price of Brent crude, coupled with the considerable drop in the prices of petrol (51.29%) and diesel (27.96%) on the ...

The Minority has called on the government and the Oil Marketing Companies (OMC’s) to further reduce fuel prices by some 20 percent as oil prices on the world market continue to tumble. The call by the minority comes after fuel prices went down by some 4.7 percent on March 17 this year despite promises by the CEO of the National ...

In the wake of the coronavirus outbreak, Advans Ghana Savings and Loans is more than ever committed to support small businesses and farmers to get through this crisis and to back the country’s efforts to control the spread of the virus. In this context, the CEO of Advans Ghana, Olivier Bailly-Béchet, stated that all branches in the Greater Accra region ...

Meridian Port Services Limited, operators of the dedicated container terminal in the Tema Port, MPS Terminal 3 has put together a business continuity plan to avert negative effects of the coronavirus pandemic on its economic role. A statement signed by the Chief Executive Officer of the firm Mohamed Samara said MPS is committed to providing guidance, updates and other information ...

(Jeddah, March 23, 2020) – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has been named ‘Best Islamic Financier’ by the trade finance platform, Trade Finance Global, in cooperation with BAFT. The international work carried out by banks, financial institutions and technology vendors to enable trade has never been more important, particularly ...

Ghana has triggered all its contacts with the World Bank and the International Monetary Fund, with the hope of finding an external support to address the brunt of the coronavirus (COVID-19) on the Ghanaian economy. “We are currently in discussion with the World Bank to tap into a US$12billion World Bank Group fast track COVID-19 facility to help close the ...

The Finance Minister Ken Ofori-Atta has told Parliament that the $100 million announced by President Akufo-Addo to fight coronavirus is not ready. President Akufo-Addo in an address last week said the finance minister has been directed to make the funds available to respond to the deadly virus. Six cases have so far been confirmed in Ghana. The amount, according to ...

There is a big legal battle raging in court between two senior lawyers; Charles Zwennes and Philip Addison, over the ownership of a company called, Merlin Gaming Ghana Limited, and this has led to discoveries that Stanbic Bank Ghana, has allowed a third party carry out some transactions on an account it keeps for the company. The Merlin Gaming, was ...