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MODEC ordered to reinstate 18 Ghanaian workers

Government has directed oil company, MODEC, to reinstate the 18 Ghanaian workers it dismissed a few days ago, Starr News has gathered. The local staff were sacked by the management of the oil company last week after they embarked on a strike over service conditions some months back. "A review is being undertaken across the full spectrum of its operations. In this regard, we will be carrying out a severance ...

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A case for Interconnect Clearing House

Efforts to introduce an independent Interconnect Clearing House (ICH) in the country has generated public debate in recent times. Although sections of the populace strongly oppose the programme, it appears such criticisms are premised on the lack of or low knowledge in the operations of the ICH. It must, however, be stated that the debate is necessary because though the ICH concept may not be a recent inven ...

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Adansi Rural Bank makes more commitment in CSR

The Adansi Rural Bank Limited at Fomena in the Adansi North District of Ashanti Region has renewed its commitment in corporate social responsibility. The Bank has offered educationalscholarshipto seven needy but brilliant students whose parents and guardians are shareholders of the Bank and hail from the operational territories of the Bank. This is a renewed commitment by the Bank to pay extra attention to ...

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Mantrac, Stanbic Bank to support power sector

Mantrac Ghana, authorised dealer of Caterpillar products and services -- in partnership with Stanbic Bank, has launched a sales promotion dubbed “no more dumsor…rely on cat power” to give customers the opportunity to own Cat Power generating sets. This comes at a time when the nation and business community are struggling for adequate power supply to keep the wheels of industries running. Mantrac Ghana also ...

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ECOWAS meeting to promote industrial devt underway

Industrial and quality experts from member countries of the Economic Community of West African States (ECOWAS) are meeting in Accra to develop a strategy for the establishment of a database and information system for the industrial sector in the sub-region. At the end of the five-day meeting, the participants are expected to present to national experts and ministers of industry of member countries, a progra ...

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Collective Investment funds hit almost Ghc500m

Funds being managed by the 45 collective invest schemes (CISs) in the country reached a whopping Ghc494.6 million plus in 2014, representing some 36.45% increase over that of 2013, which stood at Ghc362.5 million. The CISs, comprising of 27 mutual funds and 18 unit trusts mobilized Ghc132.13 million in 2014 alone. Chairman of the Securities and Exchange Commission (SEC), Dr. Adu Anane-Antwi disclosed this a ...

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Government to build local expertise in oil and gas

Mr Emmanuel Armah-Kofi Buah, the Minister of Petroleum has pledged government’s resolve to invest in the training of Ghanaians to acquire technical skills and expertise relevant to the oil gas industry. “We are committed to increase and strengthen local technical skills in Ghana’s emerging oil and gas sector to bring about significant economic development opportunities to the country”, he said. He was inaug ...

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Bui to augment national grid with 260MW

The Bui Power Generating Station in the Tain District of the Brong Ahafo Region is expected to augment its capacity by adding 260 megawatts of its 400 installed megawatts. This was disclosed by the Public Relations Officer of the Bui Power Authority, Salifu Wumbilla during a press tour of Bui Power Authority. The visit was to assess the facility’s performance in the wake of water level shortages that hit it ...

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Terkper rejects IMF pessimism

Minister of Finance Seth Terkper says pessimism about the country’s recently announced three-year programme with the International Monetary Fund (IMF) is premature. Mr. Terkper, responding to the economic policy think-tank Institute for Fiscal Studies which had raised questions about government’s ability to meet IMF conditionalities, said the organisation’s stance is unfounded. The Finance Minister in an in ...

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Impose 20% tax on palm oil importation

The economy stands a chance of raising approximately US$20million annually if government is able to impose a 10 percent adjustment tax in addition to the 10 percent ECOWAS Common External Tariff (CET) on importation of crude palm oil (CPO), B&FT has been told. Being a major net importer of the CPO,the country's domestic consumption is pegged at about 370,000 metric tonnes of palm oil in refined and crud ...

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