A eurozone recession could almost halve Chinese growth this year, according to the International Monetary Fund (IMF). The IMF forecasts China’s economy will grow by 8.2% this year – but warns that a recession in the eurozone could cut this to 4.2%. It said Beijing should get ready to inject billions of dollars into the [...]
Read the rest of this story »The World Bank said it is not worried yet that government has still not utilized over US$1. 5 million it approved for infrastructural development. There are accumulated funds the World Bank has approved since the year 2000 but have still not been fully utilized. The funds have been earmarked for infrastructural projects in the country [...]
Read the rest of this story »STORY BY: EVANS OSEI BAFFOUR A Deputy Minister for Agriculture, Mr Yaw Effah-Baafi, has mentioned that the agricultural sector contributes to the overall growth and development of Ghana’s economy. According to Mr. Effah-Baafi, the agric sector contributes about a third of the Gross Domestic Product (GDP) as well as providing employment for about two-thirds of [...]
Read the rest of this story »STROY BY: EVANS OSEI BAFFOUR, FROM AXIM W/R A Deputy Energy Minister in charge of Petroleum, Mr Emmanuel Armah Kofi Buah, has disclosed that government is still committed to ensure that the gas project is put to efficient use in fulfilment of its better Ghana promise to Ghana. He added that government in order [...]
Read the rest of this story »The US economy created 243,000 jobs in January, the highest total for nine months, official figures show. The rise was much more than expected. Analysts had forecast an increase of about 150,000 jobs. The unemployment rate dropped to 8.3%, which was the lowest rate in nearly three years, and down from a revised rate of [...]
Read the rest of this story »The Energy Minister has charged the newly formed board members of the Electricity Company of Ghana, (ECG) to flash out officials implicated in the recent corruption exposé at the company by journalist Anas Aremeyaw Anas. Energy Minister, Dr. Joe Oteng Adjei, made the comment when the 9-member board headed by Mrs. Perpetual Darfuor was [...]
Read the rest of this story »*To improve oil and gas sectors A $150 million loan agreement to finance an ICT-enhanced surveillance and monitoring facility for the oil and gas enclave project in Ghana is to come before Parliament for scrutiny. Another subsidiary loan agreement involving $850 million to finance the Western Corridor Gas infrastructural development project is also expected [...]
Read the rest of this story »Financing experts at a forum on ‘Financing Business Operations in Ghana’ have agreed that dishonesty in the operations of businesses, particularly small- and medium-scale enterprises (SMEs), largely account for the high interest rate financial institutions slap on them. The Managing Director of Stanbic Bank Ghana, Mr Alhassan Andani, who first articulated the point, stated, “The [...]
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