Yesterday, Ghana’s Finance Minister, Mr. Ken Ofori- Atta presented his maiden budget to Parliament. The minister christened his budget ‘’ Asempa Budget’’ in the Twi language, loosely translated as ‘’Good news Budget’’. The general feeling is that the Minister passed his first test given the replication of major campaign promises in the budget. The structure … Read more
The Finance Minister says government would focus on improving liquidity for banks through the payment of State-Owned Enterprise (SOE) debts. Ken Ofori-Atta said government would pay debts owed banks over the short to medium-term in line with its debt sustainability framework. Presenting the 2017 maiden Budget Statement to Parliament Thursday, the Finance Minister said creating … Read more
Spare parts dealers at Abossey-Okai in Accra, have lauded government for the decision to scrap taxes on the importation of vehicle parts. The traders said the move relieves them of a huge burden that has over the years prevented them from expanding their businesses. When Citi News’ Kojo Agyemang got to Abbosey-Okai after the announcement … Read more
Spare parts dealers at Abossey-Okai in Accra, have lauded government for the decision to scrap taxes on the importation of vehicle parts. The traders said the move relieves them of a huge burden that has over the years prevented them from expanding their businesses. When Citi News’ Kojo Agyemang got to Abbosey-Okai after the announcement today … Read more
The business community in Ghana will heave a sigh of relief following government’s announcement of key taxes it has abolished, while others have been reviewed. The cancellation of the taxes, most of which affects businesses in the aviation, finance and real estate industries, are aimed at providing a friendly environment for businesses in the country. … Read more
The business community in Ghana will heave a sigh of relief following government’s announcement of key taxes it has abolished, while others have been reviewed. The cancellation of the taxes, most of which affects businesses in the aviation, finance and real estate industries, are aimed at providing a friendly environment for businesses in the country. … Read more
The Securities and Exchange Commission (SEC) says it would set very high standards for the regulation of the securities market under the recently passed Securities Industry Act 2016 (Act 929). Mr Alexander Williams, the Acting Director General of the SEC, noted that the securities market was growing steadily and the passage of the Act would … Read more
Yahoo slashed the price of the sale of its core Internet business to Verizon by $350 million following a pair of major data breaches at Yahoo, the two companies announced Tuesday. Under the revised terms of the deal, Verizon’s purchase of the Yahoo assets will now total $4.48 billion. Yahoo still faces probes and lawsuits … Read more
Snapchat’s corporate parent seeks to raise more than $2 billion for the fast-growing social media group in the tech sector’s largest public offering in nearly three years, documents filed Thursday showed. Outlining the financial details of its initial public offering (IPO), Snap Inc. said it expects net proceeds of some $2 billion. It will offer … Read more
Trading on the Ghana Stock Exchange (GSE) for the second week of February (6-10) hit marginal turbulence and as a result, the benchmark GSE-Composite Index lost 1.1 percent on a week-on-week basis, to close at 1,805.1 points. The lost represents a year-to-date return of 6.9 percent, despite the advance to decline ratio coming in at … Read more
President Donald Trump lives million miles away in the land of liberties, but a single decision his administration is about finalizing will switch off the lights shining on corruption in Ghana’s extractive sector! Dark days are close by! The Republican led US Congress have voted to overturn a historic transparency law; the Dodd-Frank Law passed … Read more
They are agnostic on market direction, but ubiquitous in markets. Firms like Goldman Sachs and Morgan Stanley may get the headlines, but algorithms are the real force today on Wall Street. The mysterious programs were at the center of the so-called “Flash Crash” in May 2010, when the US stock market plunged more than nine … Read more
The Cocoa Processing Company (CPC) led the gainers for the first week of February trading on the Ghana Stock Exchange (GSE) as it appreciated by half its value +50 percent to close at GHS0.03 per share. The Standard Chartered Bank climbed by 15.2 percent to close the week at GHS15.00 per share, which according to … Read more
STATE Insurance Company (SIC) led advancers on the Ghana Stock Exchange (GSE) for the fourth week trading as it gained 7.1 per cent to close at GHS 0.15 per share. The Ghana Commercial Bank (GCB) followed suit, with 3.2 per cent rise to close at GHS 3.92 per share and Guinness Ghana Brewery Limited (GGBL) emerged … Read more
The Securities and Exchange Commission (SEC) has suspended the licenses of Met Capital Group Limited and Mec-Ellis Investments Limited – both investment advisors- for breaching some provisions of the Securities Industries Law. “The Commission kindly requests any person who has given funds to Mec-Ellis and Met Capital Group, for investments to inform the Commission of … Read more
The Securities and Exchange Commission (SEC) has suspended the licenses of Met Capital Group Limited and Mec-Ellis Investments Limited – both investment advisors- for breaching some provisions of the Securities Industries Law. “The Commission kindly requests any person who has given funds to Mec-Ellis and Met Capital Group, for investments to inform the Commission of … Read more
The SIC Insurance led the advancers on the Ghana Stock Exchange (GSE) for the fourth week trading as it gained 7.1 percent to close at GHS 0.15 per share. The GCB Bank followed suit, with 3.2 percent rise to close at GHS 3.92 per share and Guinness Ghana Brewery Limited (GGBL) emerged as the most … Read more
The Benso Oil Palm Plantation an Agri-business firm recorded gains of 0.5 per cent to close trading at the Ghana Stock Exchange (GSE) mid-week transaction at GH?2.09 per share. The GCB Bank also experienced 0.8 per cent rise to close at GH?3.88 per share, whilst the Standard Chartered edged by 0.1 per cent to close … Read more
The third week trading on the Ghana Stock Exchange (GSE) continued upward trajectory as the bullish sentiments which characterized trading persisted on the Accra Bourse as investors’ appetite for Ghanaian equities ascended. In effect, the benchmark GSE-Composite Index rose by 1.4 per cent on a week-on-week basis to close at 1,759.3 points. This represents a … Read more
Yahoo Inc on Monday reported better-than-expected quarterly profit and revenue, and said the sale of its core internet business to Verizon Communications Inc should be completed in the second quarter, allaying some investor concerns that the deal might collapse. The $4.8 billion Verizon transaction had originally been expected to close in the first quarter but … Read more