Business

IATA says post-pandemic airport chaos will get fixed

June 1, 2022

A top airline industry official called on Tuesday for calm surrounding recent travel chaos at some airports as people resume flying after the pandemic, blaming the gridlock on temporary delays in getting clearances for new staff. A snapback in air travel has triggered long queues at some British airports, as well as Amsterdam, Dublin and […]Continue Reading

Business

Oil firms on EU’s Russian oil ban and end of Shanghai lockdown

June 1, 2022

Oil prices firmed on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent crude was up US$1.71, or 1.5%, at US$117.31 a barrel by 0817 GMT. U.S. West Texas Intermediate (WTI) crude rose US$1.67, or 1.5%, to US$116.34. Both benchmarks registered […]Continue Reading

Business

Tullow Oil to buy Capricorn Energy for US$827 million in Africa play

June 1, 2022

West Africa-focused Tullow Oil will acquire Capricorn Energy  in an all-stock deal valued at 656.9 million pounds (US $826.7 million), the London-listed energy groups said on Wednesday, as they focus on the reserve-rich African region. Investors in Capricorn, formerly known as Cairn Energy, will receive 3.8068 Tullow shares for each share they hold, and will own 47% […]Continue Reading

Business

Gold Fields to become fourth biggest gold miner with Yamana deal

June 1, 2022

South Africa’s Gold Fields Ltd’s is set to become one of the four biggest gold miners in the world after agreeing to acquire Canada-based Yamana Gold in a US$6.7 billion all-share deal, the biggest in the region in years. Shares in the South Africa-listed mining company fell 20%, though, and investors voiced concern about dilution on a call with […]Continue Reading

Business

Telcos lose 300,000 mobile money subscribers in April

June 1, 2022

The telecommunication companies (Telcos) registered an over-300,000 loss of mobile money subscribers in the month of April prior to implementation of the Electronic Transactions Levy (E-Levy), Bank of Ghana (BoG) data have shown. According to the Summary of Economic and Financial data (May 2022), just ahead of implementing the E-Levy in May, active mobile money subscribers Continue Reading

Business

Nigerian banks face global risk transmission despite oil boost – Fitch

June 1, 2022

Nigerian banks’ operating environments could deteriorate in 2022–2023 as adverse global economic conditions feed through to the local economy, Fitch Ratings has said in a new report. According to the ratings agency, soaring inflation led the Central Bank of Nigeria (CBN) to raise its benchmark rate by 150 basis points (1.5%) on May 24th, 2022 […]Continue Reading

Business

You Goofed – NDC To IGP: Says ‘Ill-Advised’, ‘Regrettable’, ‘Misguided’ UK Envoy Jab Autocratic, Offends Diplomacy

May 31, 2022

The opposition National Democratic Congress has accused Ghana’s Inspector General of Police of having committed a diplomatic gaffe with his tersely worded letter to UK High Commissioner Harriet Thompson, in which he warned the diplomat to stay out of Ghana’s internal affairs. In the letter, Dr George Akuffo Dampare described the High Commissioner’s recent ‘I’ll […]Continue Reading

Business

Komenda sugar factory to start processing unrefined sugar – MCE

May 31, 2022

The Komenda Sugar factory will soon start producing unrefined sugar, the Chief Executive for the Komenda Edina Eguafo Abrem municipality, Mr Solomon Ebo Appiah, has said. “.actory right now”, he noted. “A three million litre reservoir has been constructed”, he announced, adding: “The roof of the factory has been changed, and a raw sugar warehouse […]Continue Reading

Business

Tension Mounts At Dangote Cement Over Poor Salary Issues… After 5-Years of No Increment

May 31, 2022

By Gifty Arthur Tension is currently brewing among Ghanaian workers of popular cement production company, Dangote Cement Company, belonging to Africa’s richest business mogul, Aliko Dangote. The Nigerian billionaire is rated the world’s 61st richest man and number one on the continent of Africa. But his workers here in Ghana, have been agitating for some […]Continue Reading

Business

BoG has compromised cedi; prosecute top shots – Law lecturer petitions AG

May 30, 2022

A law lecturer, Dr John Baiden, has said the Bank of Ghana “has compromised the Ghana cedi”. “It is out of line and must be brought back in line”, the private legal practitioner said in a petition to the Attorney General. “Hopefully”, he noted, “prosecution will bring about conscientiousness and deterrence from here on out”, […]Continue Reading