The dollar and U. S. Treasury yields jumped on Wednesday, while stocks were mixed, as investors focused less on U.S. President Donald Trump’s first speech to Congress and more on what they see as a growing chance of a U.S. interest rate hike this month. Trump took a measured tone in his keenly awaited speech … Read more
European shares rose to within striking distance of their highest levels in more than a year on Friday while the dollar was buoyant as investors cheered upbeat Chinese trade data and hopes of business-friendly tax cuts in the United States. President Donald Trump said on Thursday that in coming weeks he would announce something “phenomenal” … Read more
U. S. economic growth slowed sharply in the fourth quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment pointed to sustained strength in domestic demand. Gross domestic product increased at a 1.9 percent annual rate, the Commerce Department said on Friday in its first estimate … Read more
No doubt the vetting was the best I have ever seen especially given the composure, preparedness and depth of answers given by the nominee to many questions posed to him by the very astute Minority Chief Whip and Minority Leader. It was rather disappointing that the Chairman of the vetting committee had exercised his autocratic … Read more
The Public Interest and Accountability Committee (PIAC) has called on the Ministries of Finance and Energy to urgently convince the Volta River Authority to settle its indebtedness to the Ghana National Gas Company. It said this was in order to prevent the VRA’s debts to Ghana Gas from spiralling to unmanageable proportions and thus compromising … Read more
The Public Interest and Accountability Committee (PIAC) has called on the Ministries of Finance and Energy to urgently convince the Volta River Authority to settle its indebtedness to the Ghana National Gas Company. It said this was in order to prevent the VRA’s debts to Ghana Gas from spiralling to unmanageable proportions and thus compromising … Read more
The Public Interest and Accountability Committee (PIAC) has expressed doubts about the ability of the Ghana National Gas Company (GNGC) to commence the scheduled amortisation of the approximately US$1billion China Development Bank (CDB) loan facility that was contracted by the Government for the construction of the Atuabo Gas Processing Plant. PIAC said it arrived at … Read more
The Institute of Fiscal Studies (IFS), has made fresh calls for Ghana to hedge its oil to protect the country from shocks in the global price of crude. The Institute is warning the country risks missing out on its 7 percent growth target for 2017 should prevailing conditions on the global oil market persist. “We … Read more
The Institute of Fiscal Studies (IFS), has made fresh calls for Ghana to hedge its oil to protect the country from shocks in the global price of crude. The Institute is warning the country risks missing out on its 7 percent growth target for 2017 should prevailing conditions on the global oil market persist. “We … Read more
Asian stock markets rose on Tuesday while crude oil prices languished near three-week lows, with investors uncertain whether output cuts by some major exporters would be enough to offset increasing supplies from other producers. Sterling extended losses following its lowest close in three months on renewed concerns about a “hard” Brexit. European markets were poised … Read more
Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between OPEC and non-OPEC members to cut production, which kicked in on Sunday, will be effective in draining a global supply glut. International Brent crude oil prices LCOc1 were up 16 cents, or 0.3 percent, at $56.98 a barrel … Read more
U. S. oil prices rose in the first trading hours of 2017 on Tuesday, buoyed by a deal for OPEC and non-OPEC production cuts which kicked off on Sunday. U.S. benchmark West Texas Intermediate (WTI) CLc1 crude oil prices were up 35 cents, or 0.7 percent, at $54.07 at 0010 GMT, not far from last … Read more
Asian shares struggled on Thursday after a lacklustre performance on Wall Street as investors looked to U. S. economic data later in the day for potential catalysts, as markets wind down ahead of the holidays. The subdued mood was expected to carry over into European trading. Britain’s FTSE 100 index could edge down 0.1-0.2 percent, … Read more
Finance Minister Mr Seth Terkper has expressed optimism that there will be no reversal in the growth of the economy following the several investment and prudent policy measures put in place by the government. “Over the past four years, we have been following a path of fiscal consolidation from developments that go back into the … Read more
The Institute of Energy Security has said fuel prices are likely to go up by 2% from December 16 to December 31, 2016 per the second pricing window. Speaking to Benard Nasara Saibu on the Morning Starr, Principal Research Analyst at the Institute of Energy Security, Richard Rockson said consumers should brace themselves for an … Read more
Oil prices edged up in thin trading on Thursday after steep falls in the previous session, supported by a weaker dollar, positive economic data and a drawdown in U. S. crude stocks. International Brent crude futures were trading up 4 cents at $53.04 a barrel at 0345 GMT after closing the previous session down 93 … Read more
The decline in crude oil prices on the world market has gravely affected the country’s oil sector, which is likely to adversely affect production from the Tweneboah-Enyerra-Ntomme (TEN) fields and the Sankofa Fields, Seth Terkper, Minister of Finance, has disclosed. Despite the low oil prices on the world market, the Finance Minister said government had … Read more
President John Mahama has once again assured the nation that the economy will recover after it increased revenues and took tough measures to limit public sector wages and spending. Some of the measures were taken as part of the programme with the International Monetary Fund. According to President Mahama, the economy is getting back on … Read more
Leadership is one of the biggest failures of the African continent. It is unfortunately blessed with a handful of non-performing and sit-tight leaders who have refused to abdicate political power. Topping the list of longest serving African leaders are Teodoro Obiang Nguema, Equatorial Guinea and Jose Eduardo dos Santos, Angola who have both spent 36 … Read more
Russia’s Economy Minister Alexei Ulyukayev has been charged with taking a bribe to endorse a state takeover. Investigators said he received a $2m (£1.6m) payment. The minister pleaded not guilty to the charge. Mr Ulyukayev is the highest-ranking Russian official held since the 1991 coup attempt in what was then the USSR. The investigators said … Read more