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GDP: Armyworm affected agric in second quarter – Economist

An economist with Data Bank, Courage Martey, has blamed the invasion of Armyworms on farmlands for being the reason for the poor performance of the Agriculture sector in the Gross Domestic Product (GDP) of the second quarter. According to him, the invasion of these worms in the early part of this year destroyed most farmlands, thereby impacting negatively on the Agriculture sector. Figures released by the G ...

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CID probes $2.3bn ‘shady’ gold export

Information available to the Daily Statesman indicates that the Criminal Investigations Department of the Ghana Police Service is probing the circumstances under which Ghana was robbed of huge sums of revenue as a result of the non-repatriation of gold export proceeds of over $2.3 billion into the country. Information available to the Daily Statesman indicates that the Criminal Investigations Department of ...

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UMB opens Centre for Business in Kasoa

The Universal Merchant Bank (UMB) has opened a Centre for Business in Kasoa in the Central Region. This brings the number to three centres nationwide after the first two centres were opened in Ashtown, Kumasi, and the second in Madina, Accra respectively. The Kasoa centre was chosen as a strategic location to absorb the vibrant business sector in Kasoa and to leverage on the area’s diverse commercial activi ...

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Blame US hurricanes for fuel price hikes – NPA CEO

The Chief Executive Officer of the National Petroleum Authority (NPA), Alhassan Tampuli, has said the high demand for fuel in the US, particularly in Texas and Florida, following the devastation caused by hurricanes Harvey and Irma, is to blame for the rising cost of fuel in Ghana and other parts of the world. He told Moro Awudu on Class91.3FM’s Executive Breakfast Show on Wednesday, 27 September that there ...

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Metro Mass drivers want MD out

Metro Mass Transit drivers across the country are demonstrating against what they describe as poor working conditions and bad remuneration as well as the removal of their Managing Director Bennet Aboagye. The drivers who grounded their buses on Wednesday, 27 August 2017 said efforts to get management to give them better conditions of service has proved futile, adding that their MD does not have the interest ...

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Merger made us stronger – Regency-NEM MD

The merger between Regency Alliance Insurance Ghana and NEM Insurance Ghana has made the company more viable in terms of capacity building, resources and human capital, the Managing Director of the company Bode Oseini, has said. Last year, the two companies, which are both Nigerian owned, became the first insurance companies to merge their operations in the country. Regency Alliance Insurance Ghana is a sub ...

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MTN CEO adjudged CIMG marketing man of the year

The Chief Executive Officer of MTN Ghana, Mr Ebenezer Twum Asante, has been adjudged the Marketing Man of the Year 2016 by the Chartered Institute of Marketing Ghana (CIMG) at the 28th National Marketing Performance Awards 2016 held at the State House in Accra. MTN Ghana also won two other prestigious awards – Telecom Company of the Year and the flagship Marketing-Oriented Company of the Year. These awards, ...

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BoG maintains 21% policy rate

The Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the 21 per cent policy rate. At a press conference addressed by central bank Governor Dr Ernest Addison on Monday, 25 September, the Committee said: “It observed that improved global growth prospects and accommodative monetary policy stance in advanced economies have impacted favourably on Ghana’s external position. However, the recent ...

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Tullow to resume TEN drilling by year-end

Tullow Oil plc (Tullow) has said following the ruling by the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg on the maritime boundary dispute between Ghana and Côte d’Ivoire, it will resume oil drilling in the TEN Fields by the end of the year. The new maritime boundary as determined by the tribunal does not affect the TEN fields. In a statement, Tullow said it will no ...

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Tullow to expand production following ITLOS ruling

Tullow Oil plc (Tullow) has indicated that it will work with government to restart drilling in the TEN fields to the fullest capacity. The Special Chamber of the International Tribunal for the Law of the Sea (ITLOS) delivered its ruling in relation to the Ghana-Côte d'Ivoire maritime boundary dispute on Saturday, September 23 in the favour of Ghana and set out new boundaries for the two countries. However, ...

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