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Gold drops

Gold slipped to its lowest in nearly seven weeks early on Monday as the U.S. dollar rose and equities gained, while growing expectations for a Federal Reserve interest rate hike in December also added to pressure. Spot gold was down 0.4 percent at $1,273.60 an ounce by 0646 GMT, after earlier touching its lowest since mid-August at $1,272.35. U.S. gold futures for December delivery shed 0.7 percent to $1,27 ...

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Galamsey mentality “stupid” – Okudzeto

Council of State member Sam Okudzeto has described as “stupid”, the mentality of illegal miners who defy government’s ban on their activities with the justification that they are only unearthing the natural resources God has endowed the country with. The menace of galamsey has left many farmlands destroyed, leaving in its wake the incessant pollution of water bodies and also posing a threat to human and aqu ...

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Fuel prices to increase – COPEC

The Chamber of Petroleum Consumers-Ghana (COPEC-GH) has warned there could be increase in fuel prices if government does not take immediate steps to halt the trend of hikes in the petroleum products. The Chamber, in a statement, said the rising cost of fuel prices in the country has a direct impact on general cost of living and by extension inflation, and must be curtailed immediately. According to the Cham ...

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Gov’t can’t reduce electricity tariffs – Opoku

Kojo Poku, an energy expert, has said the Akufo-Addo-led government cannot reduce electricity tariffs any time soon. According to him, the government does not have money to subsidise the electricity bills, therefore cannot afford to reduce the bills. The government, he said, must be truthful with Ghanaians and explain that reduction in the electricity tariffs cannot be possible because of a lack of funds. H ...

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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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