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

NEWS

Police to 4 June demo organisers: We’ll not allow you to protest with weapons

June 1, 2022

The Ghana Police Service has served notice to organisers of an intended demonstration on 4 June that it will not allow them to carry weapons on the street as part of their plans. According to the police, the group wants to demonstrate for three days with its own private security. Members of the group include broadcasters Captain Smart and […]Continue Reading

Foreign

Ukraine war: US to send longer-range rockets in latest aid package

June 1, 2022

The US will send Ukraine more advanced rocket systems to help it defend itself, President Biden has announced. The weapons, long requested by Ukraine, are to help it strike enemy forces more precisely from a longer distance. Until now, the US had refused the request out of fear the weapons could be used against targets […]Continue Reading

NEWS

Government not starving Parliament of funds – Majority insists

June 1, 2022

The Majority in Parliament has reiterated its position that government is not deliberately frustrating the business of the house through the non-release of monies due it. Majority Chief Whip, Frank Annoh-Dompreh insists some funds have been made available to the house for parliamentary work. This follows the outburst of the Speaker of the House, Alban […]Continue Reading

NEWS

Korle Klottey Municipal Assembly also moves to remove structures on waterways

June 1, 2022

The Korle Klottey Municipal Assembly has indicated that all structures erected on waterways will be demolished. The assembly contends that a number of individuals in the municipality have built in unauthorised places. This comes on the back of the continuous flooding witnessed in the municipality anytime there is a downpour. President Akufo-Addo has also indicated […]Continue Reading

NEWS

AMA prosecutes 115 persons for dumping refuse in drains, other sanitation offenses

June 1, 2022

A total of 115 persons have been prosecuted by the  Accra Metropolitan Assembly (AMA) for failing to comply with its 2017 Sanitation bye-laws between January and March 2022. Their offences include dumping of waste into drains, burning of refuse in residential areas, insanitary drains in front of their premises, non-registration with accredited waste collectors, overgrowth 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