China posted better-than-expected growth in the second quarter, official data showed on Monday, but authorities warned that the world’s second largest economy faces external and internal risks. The economy expanded by 6.9 percent, the same as the first three months of the year, according to the statistics bureau, and better than the 6.8 percent growth … Read more
China’s economy lost momentum in the second quarter, a survey shows, as Beijing’s efforts to curb risky lending and investment took a toll on the Asian powerhouse. The world’s second-largest economy expanded by 6.8 percent in the April-June period, compared with a year ago, according to the median forecast of 12 analysts polled by AFP. … Read more
The Bank of Ghana (BoG) is engaging directors of ASN Financial Services Limited, a licensed Finance House, to find an amicable solution to the troubled indigenous institution. The company, which specializes in investment services, credit issuance, and mortgage products, is currently struggling to meet the demands of some of its customers for payment of funds … Read more
Dr. Kobby Mensah, marketing lecturer at the University of Ghana Business School says Parliament should consider the setting up of a financial Ombudsman with the legal powers to mediate between financial institutions and customers, as the number of banks increases and electronic-based products proliferate. “I think we need a financial Ombudsman mediating between financial institutions … Read more
The immorality of the Invincible Forces and the Delta Force, resulting from their many egregious post-2016 vigilante acts of political violence and outright intimidation of Ghanaian citizens, exposes the rotten underbelly of the elephant, the New Patriotic Party (NPP), and the possible criminal makeup of its leadership, represented by Akufo-Addo, the shady character mask behind … Read more
The Association of Ghana Industries (AGI) has called on the Bank of Ghana (BoG) to consider enhancing its yuan trading capacities in order to provide an alternative to the dollar to importers who do business in China. Humphery Ayim-Darke, Vice President of the AGI, in an interview with the B&FT, said the increased introduction of … Read more
Iran’s central bank said Sunday it will appeal Luxembourg’s decision to freeze $1.6 billion of its assets, which the US is claiming as compensation for victims of the September 11, 2001 attacks. The bank also said it would take steps to curb its remaining transactions in dollars, which it still receives particularly for oil sales. … Read more
A Luxembourg court on Wednesday denied a demand by Tehran to repatriate $1.6 billion of Iranian assets claimed by the US as compensation for the victims of the September 11, 2001 attacks. The judge ruled that the assets could remain frozen in the small EU nation for now, awaiting a separate judgment on the details … Read more
Reviewing the high-interest rates on loans, improving ATM services as well as reducing the turnaround time at banking halls have emerged as some key concerns for customers of banks. They believe banks should be able to attract more clients and maintain existing ones in the wake of increased competition in the industry. Following the World … Read more
Hebron Fin Investments, a company that trades foreign currencies online, has debunked claims by the central bank that it is operating illegally, saying the Foreign Exchange Act does not cover online forex trading. The Bank of Ghana, last week, issued a statement ordering Hebron Financial Investment Limited (HFIL) to close down its operations for engaging … Read more
Iran said Tuesday it was “completely unfair” for US lawyers to try to seize its overseas assets as compensation for the victims of September 11, 2001. In 2012, a New York judge ordered Iran to pay $7 billion in damages to the families and estates of victims from the 2001 attacks, arguing the country had … Read more
Recently awarded as “Africa’s Best Bank Transformation” at the 2016 Euromoney Awards, Access Bank Ghana has once again received international recognition from the Citibank Group for the prestigious Straight-Through Processing (STP) Excellence Award. The award acknowledges the Bank for its superior and excellent service through consistent and efficient processing of international funds transfer requests from … Read more
The Finance Ministry has hinted to Citi Business News it will soon present the new Payment Services Regulation to the Attorney General (AG)’s Department for further scrutiny. The Payment Services Regulation is to replace the Electronic Money Issuers (EMI) Guidelines which currently regulates electronic financial services in the country. “Truly there is a new set … Read more
The Finance Ministry has hinted to Citi Business News it will soon present the new Payment Services Regulation to the Attorney General (AG)’s Department for further scrutiny. The Payment Services Regulation is to replace the Electronic Money Issuers (EMI) Guidelines which currently regulates electronic financial services in the country. “Truly there is a new set … Read more
Who will conjure the American Dream back for us? Politics is part prestidigitation, part reality. A great magician distracts her audience’s attention while producing the payoff. Abracadabra! Want to see how it’s done? Focus on the hidden hand. In this case, the United States Senate. The real issue America for American politics is how to … Read more