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Business & Economy

CAPITAL RURAL BANK HOLDS 10TH ANNUAL GENERAL MEETING OF SHAREHOLDERS IN SUNYANI

The Capital Rural Bank’s Net Profit before tax, increased from 593 thousand, 083 Ghana Cedis in 2013 to 600 thousand, 294 Ghana Cedis in 2014, representing an increase of one percent.  Again, shareholders funds rose from two million, 148 thousand, 396 Ghana Cedis in 2013 to two million, 178 thousand, 784 Ghana Cedis in 2014, representing an increase of one ...

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Global Wage Report 2014/15

Global Wage Report 2014/15 The Global Wage Report 2014/15 reviews the main trends in wages in developed, emerging and developing countries. It also analyses inequality in the labour market and in household income. The report in short: Wages and income inequality ILO News Global wage growth stagnates, lags behind pre-crisis rates  ILO warns of stalled wages in many countries and ...

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‘Fuel Prices Will Not Be Reduced’

Government says it cannot immediately reduce the prices of petroleum products in the country despite a drop in the price of crude oil on the world market. Emmanuel Armah-Kofi Buah, Minister of Energy and Petroleum, who made this known, last Friday in Accra, said the fall in the price of crude oil on the world market was still in a transitional trend. In view of this, he said ...

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CEO of trillion dollar company resigns after daughter told him how much he has missed

Mohamed El-Erian, 56, quit his role as CEO of PIMCO investment fund in May 2013. The California-based financier said it was ‘a cliché’ but he wanted to spend more time with his wife Jamie, a lawyer, and daughter. His little girl said he missed her first day of school, Halloween parade, first soccer game of the year, parent-teacher meeting and ...

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Economy showing signs of recovery – Seth Terkper

Minister of Finance, Seth Terkper has said that the Ghanaian economy is showing signs of recovery. The economy has for the past two years experienced major instability amid a very high inflation, a depreciating cedi, high budget deficit and a ballooning wage bill among others. The situation forced Ghana to seek support from the International Monetary fund (IMF). Seth Terkper ...

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Pay farmers 70 per cent of FOB price of cocoa – Minority

The Minority in Parliament has called on the government to, as a matter of urgency, pay Ghanaian cocoa farmers at least 70 per cent of the free-on-board (FOB) price of cocoa. They argued that the steep depreciation of the cedi against the dollar, high cost of living and increase in cocoa prices on the world market were enough justification to ...

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Non-Ghanaian retailers ordered to leave markets in 30 days

The Ministry of Trade and Industry has issued a 30-day ultimatum to non-Ghanaians in retail trade to leave 48 markets across the country where they mostly operate. In a public notice issued on Friday, the ministry stated that, “notwithstanding numerous interventions by the government to encourage non-Ghanaians engaged in retail trading in the market place to relocate, some non-Ghanaians have ...

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Banking Awards postponed

The 13th edition of the Ghana Banking Awards originally slated for Saturday, September 13, 2014, has been postponed to Saturday, November 1, 2014. The Ghana Banking Awards are the most hotly contested awards in the Ghanaian banking industry and presently concentrates on the Universal Banks sub-sector. Organized by Corporate Initiative Ghana, a not-for-profit entity, the awards are based on both ...

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MP accuses BoG of manipulating foreign exchange data

he Member of Parliament for Obuasi West and a member of Parliament’s Finance Committee is accusing the Governor of the Bank of Ghana (BoG) of manipulating the interbank foreign exchange rates. Kwaku Kwarteng described the act as illegal, saying it “deviates drastically from the official rates quoted by Ghanaian banks and rates prevailing in the Ghanaian currency market.” Mr. Kwarteng’s ...

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Nii Moi Thompson deflates Bawumia’s economics

The President’s economic advisor, Dr. Nii Moi Thompson has sought to discredit former deputy governor of the Bank of Ghana (BoG), Dr. Mahamudu Bawumia’s analysis that the central bank and the Ghana Statistical Service (GSS) “cooked up forex and inflation rates.” Responding to Dr. Bawumia on his Facebook wall, Dr. Nii Moi Thompson expressed shock at Dr. Bawumia’s “gratuitous attack on institutions ...

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