The committee charged to review the AMERI power deal which recommended abrogation of the deal on grounds of fraud, is too partisan to be taken seriously, the former deputy Power Minister, John Jinapor has intimated. The 17-member committee, which has been working under the auspices of the Energy Minister since February 1, 2017, said Ghana … Read more
Government has been advised to re-negotiate a $510m power deal with UAE-based AMERI energy after a report revealed it was over-priced by $150million. The recommendation was contained in a report of a committee tasked by the Energy ministry to review the February 10 agreement signed in 2015 with Africa and Middle East Resources Investment Group’s … Read more
The committee charged to review, restructure and recommend areas of amendment of the Ameri power deal, has recommended that the deal be re-negotiated or abrogated on grounds of fraud, after it emerged that Ghana was made to pay 150 million dollars extra in commission to Africa & Middle East Resources Investment Group LLC (Ameri Energy) … Read more
The committee charged to review, restructure and recommend areas of amendment of the Ameri power deal, has recommended that the deal be re-negotiated or abrogated on grounds of fraud, after it emerged that Ghana was made to pay 150 million dollars extra in commission to Africa & Middle East Resources Investment Group LLC (Ameri Energy) … Read more
Beware of Frances: She’s on a one-woman mission to force all the water in your body out through your tear ducts. Nominated for the Brits critics’ choice award and the BBC Sound of 2016, the singer has a knack for achingly beautiful ballads that tug at the heartstrings. Songs like Let It Out and Say … Read more
China’s securities regulator has handed down hefty fines for stock manipulation including what it said was the first case involving the landmark Shanghai-Hong Kong stock connect programme. The China Securities Regulatory Commission (CSRC) said in a statement that it had fined Tang Hanbo and his family-operated group of stock traders more than 1.2 billion yuan … Read more
The Managing Director of FirstBanC financial services, Mr. Amenyo Setordzie has observed that although the wide-ranging tax cuts could place the government’s fiscal position under pressure, the 2017 budget is achievable. Analyzing the 2017 budget presented by the Finance Minister last week, Mr. Setordzie described government’s finance policy as ambitious. He however cautioned, “Key risks … Read more
South Korea’s Lotte Group faces an escalating backlash in China after providing land for a US missile-defence system, amid growing concern that the row will mushroom into wider Chinese retaliation against Seoul. South Korea’s fifth-largest company, Lotte signed a deal Tuesday to provide land for the US system, which was prompted by threats from North … Read more
At the third annual National Women in Finance Awards held at the Accra International Conference Centre last weekend, the Business Division Manager for Tigo Insurance, Barbara Asante, was awarded Outstanding Mobile Insurance Personality of the Year. She was recognized among several others as one of the captains of the finance industry across the country who … Read more
South Korean retail giant Lotte agreed Monday to provide land to host a controversial US missile defence system loathed by Beijing, Seoul’s defence ministry said. Food- and retail-focussed Lotte Group, South Korea’s fifth-biggest company, has come under growing pressure over the deal from China, a crucial market. The plan by Washington and Seoul to install … Read more
Barclays will this week announce the appointment of Sir Ian Cheshire as chairman of its UK-based operations, a key milestone in its planning for new rules aimed at protecting taxpayers in a future banking crisis. Sky News has learnt that Sir Ian’s application to chair Barclays UK has been approved by the Prudential Regulation Authority … Read more
MTN, Ghana’s leading telecommunications company, and Business World, Ghana’s foremost business magazine, have announced that Mr Yaw Nsarkoh, Unilever Executive Vice President for Ghana and Nigeria, will be speaking at the 19th MTN Business World Executive Breakfast meeting. The much-anticipated event is scheduled to take place at the Mövenpick Ambassador Hotel on the 1st of … Read more
1. Walmart earnings: On Tuesday, Walmart (WMT) will release its fourth quarter earnings report. Walmart is on a tear lately, exceeding analysts’ profit expectations over the past four consecutive quarters, But Walmart is facing fierce competition from e-commerce retailers like Amazon. That’s why investors will be closely monitoring Walmart’s progress in integrating e-retailer Jet.com. They’ll … Read more
The UK-Ghana Chamber of Commerce (UKGCC) is poised to double trade volumes and value between Ghana and the UK in the next four years. Trade volumes between Ghana and UK are currently estimated at just about 3.5 percent of Ghana’s total international trade, and it is valued at about a billion dollars per annum. But … Read more
LONDON, England, January 2017 – Some of Ghana’s leading technology rms and innovators will y in to the UK’s Capital City for the rst Tech in Ghana Conference (TIGC) to be held in February 2017. TIGC London aims to raise awareness of Ghana’s tech ecosystem and boost the profile of the country’s industry leaders among … Read more
Alibaba Group Holding Ltd on Tuesday posted a 54 percent rise in third-quarter revenue, beating analyst estimates, helped by higher sales during its Single’s Day shopping event and increased earnings in its cloud and digital media ventures. The company said it would be raising its 2017 full-year guidance for revenue growth from 48 percent to … Read more
A 28-year-old man and his wife have appeared before an Accra Magistrate’s Court for acting together to forge official documents and steal from unsuspecting clients. Peter Nuku Coffie and Victoria Amanoo Halm, 26, were charged with forgery of official documents, stealing and abetment of crime. Coffie pleaded guilty on the first count and was sentenced … Read more
Martin Luther King’s daughter said on Monday that “God can triumph over Trump,” but the slain civil rights leader’s son struck a conciliatory tone after meeting with the president-elect on the U. S. holiday that honors their father. The comments by the children of King, who championed racial justice until he was assassinated in 1968 … Read more
The $44 billion palm oil industry, under pressure in Europe after authorities listed the edible oil as a cancer risk, has found a vocal ally in the food sector: the maker of Nutella. Italian confectionery firm Ferrero has taken a public stand in defense of an ingredient that some other food companies in the country … Read more
President-elect Donald Trump’s pick to be the new attorney general is poised to get a rough ride when he appears before US senators. Alabama Senator Jeff Sessions, 69, will face questions about his past record on civil rights at his confirmation hearing on Tuesday. Senate Democrats will also challenge him over his tough immigration stance. … Read more