BUSINESS

The Chamber of Petroleum Consumers has hinted of another upward adjustment in fuel prices at the pumps. According to the chamber, the National Petroleum Authority (NPA) has written to Petroleum Service Providers notifying them of an adjustment “some elements on the already high petroleum price build-up and fuel prices”. Fuel prices went up only last week. “Our attention has been ...

An Energy and Financial expert has downplayed the US$170 million savings as claimed by President Nana Akufo Addo for the change of fuel from HFO to natural gas from Ghana’s Eni operated Sankofa Gye Nyame (SGN) oilfield are fabricated. Mr Alex Mould, who was part of the initial arrangement for the Karpowership Purchase Agreement and the fixing of the pricing ...

Ghana and China have signed a grant agreement for US$42.62 million for the implementation of economic and technical projects to be agreed on by the two sides for their mutual benefit. Mr Ken Ofori-Atta, the Minister of Finance and Mr Shi Ting Wang, the Chinese Ambassador initialed the deal on behalf of their respective countries. Commenting, Mr Ofori-Atta acknowledged the ...

Inflation shot up by 0.5 per cent in the month of November to reach 8.2 per cent, the highest since the rebased Consumer Price Index three months ago. According to the Ghana Statistical Service, Alcoholic Beverages, Tobacco & Narcotics (13.4%) and Transport (12.3%) were the divisions with the highest rates of inflation. But due to its relative importance in consumption, ...

The Cash Management team at Barclays has donated various medical equipment and consumables to the Princess Marie Louis Children’s Hospital in Accra. The items were purchased using proceeds from an award received by the Cash Management team and additional funds raised by the employees to support the hospital. The donation also coincided with the bank’s Citizenship Month, during which employees ...

This week, TULLOW Oil (aka TULLOW) shocked the oil world when both its CEO and Exploration Director, who were also board executives, “resigned” with immediate effect. Tullow also suspended dividend payments. TULLOW, once a £14bn company saw its Net Asset Value (NAV) drop to a little over £560m. When TULLOW Oil Plc issued its initial public offering (IPO) less than ...

Cement manufacturers in the country have attributed the recent increase in cement prices to the depreciation of the cedi to the dollar, high port taxes and duties amongs others. Major cement manufacturers in the country have announced a 5% increment which takes effect today, warning that prices could increase further if the situation remained the same. Explaining the rationales behind ...

The Nigerian traders Association in Ghana has praised President Akufo-Addo over his stance in their impasse with the Ghana Union Traders Association. According to the secretary general of the Nigerian traders union Evaristus Wankor, the President has proven he is unifier and leader. “The President has spoken well and we thank him for that statement.He spoke like a father, that ...

The National Communications Authority (NCA) has directed telecom giant MTN to compensate customers who have been affected by their system challenges. Scores of customers of MTN took to social media to complaint about about a sudden rise in data charges and bundles running with supersonic speed. Some also complained about call tariffs. The company has acknowledged the challenges and promised ...

As part of activities to complete its merger process, OmniBSIC Bank held its maiden health walk over the weekend. The event on the theme: ‘At your service’ is to celebration the completion of the important milestone and promote good health among its staff and foster corporate bonding. Management, staff and customers walked through some principals streets of Accra, converged at the ...