The Public Utilities Regulatory Commission (PURC), the agency responsible for regulating the utilities sector in the country, has announced an increase in electricity and water tariffs by 12.09 and 6.05 percent respectively. The PURC, however, on Monday said the new rates will take effect on a yet-to-be announced date. A statement signed by its chairman, Dr. Emmanuel K. Annan, attributed the postponement of the start date to the current load-shedding programme and unsatisfactory service delivery
The Board of the Export Trade, Agricultural and Industrial Development Fund (EDAIF) in February this year gave GH₵56million to 10 businesses engaged in different sectors of the economy. These approvals are in line with the fund’s objective of providing financial resources for the development and promotion of export trade, agriculture related to agro-processing and industrial development. Most of the approvals, constituting nine businesses, were to the agricultural sector in addition to one pharmaceutical
The Bank of Ghana (BoG) has urged banks to adhere to the prudential guidelines for classification of their loans and advances portfolios to maintain quality credit portfolios. The Deputy Head of the Baking Supervision Department of the BoG, Philip E. Cobbinah, said during on-site examination visits to the banks they observe that most of them do not adhere to some of the guidelines provisions. This, he said, results in adequate provision not being made to portray the true quality of their credit portfolio. Mr.
Air freight throughput dipped by some three million kilogrammes last year, dropping from 47 million kilogrammes in 2012 to 44 million kilogrammes in 2013. Total cargo arrivals decreased from 21.2 million kg in 2012 to 20 million kg in 2013. Cargo export by air also fell, from 25.3 million kg in 2012 to 23.7million in 2013. The major items exported from Ghana include fresh fruit and vegetables to mainly Europe, the Middle East, and North Africa. The air cargo market, for both scheduled and non-scheduled
Air freight throughput dipped by some three million kilogrammes last year, dropping from 47 million kilogrammes in 2012 to 44 million kilogrammes in 2013. Total cargo arrivals decreased from 21.2 million kg in 2012 to 20 million kg in 2013. Cargo export by air also fell, from 25.3 million kg in 2012 to 23.7million in 2013. The major items exported from Ghana include fresh fruit and vegetables to mainly Europe, the Middle East, and North Africa. The air cargo market, for both scheduled and non-scheduled
The slight revival in the global gold price has pushed the producer price index upward, as producer inflation in the mining and quarrying subsector increased by 8.9 percentage points over the January 2014 rate of -5.8 percent, jumping to 3.1 percent in February. Head of Industrial Statistics at the Ghana Statistical Service Anthony Krakah confirmed that the global gold price increase has contributed to the jump in the producer price index. “This was largely because the world price of gold is
The slight revival in the global gold price has pushed the producer price index upward, as producer inflation in the mining and quarrying subsector increased by 8.9 percentage points over the January 2014 rate of -5.8 percent, jumping to 3.1 percent in February. Head of Industrial Statistics at the Ghana Statistical Service Anthony Krakah confirmed that the global gold price increase has contributed to the jump in the producer price index. “This was largely because the world price of gold is
Barclays Bank Ghana says last year it recorded a profit before tax of GH¢202.5million, a figure that is a 34.2 percent jump from the previous GH¢150.8million recorded in 2012. The bank’s Managing Director, Mrs. Patience Akyianu speaking at Barclays’ annual general meeting, said the impressive out-turn was achieved despite volatility in the exchange rate, interest rate and margins pressure in the year under review. “Our underlying profitability emanated from impressive income growth, and
Barclays Bank Ghana says last year it recorded a profit before tax of GH¢202.5million, a figure that is a 34.2 percent jump from the previous GH¢150.8million recorded in 2012. The bank’s Managing Director, Mrs. Patience Akyianu speaking at Barclays’ annual general meeting, said the impressive out-turn was achieved despite volatility in the exchange rate, interest rate and margins pressure in the year under review. “Our underlying profitability emanated from impressive income growth, and
Trade and Industry Minister Haruna Iddrisu says government is unable to intervene directly in the ailing fortunes of Akosombo Textiles Limited (ATL), due to the absence of a legal framework to justify intervention. The once prestigious textile company is on the verge of collapse as cheap textile imports have narrowed its market share, coupled with high operational costs. Despite the company sending a petition to the Trade and Industry Ministry to intervene in their crisis, Mr. Iddrisu said even though
Trade and Industry Minister Haruna Iddrisu says government is unable to intervene directly in the ailing fortunes of Akosombo Textiles Limited (ATL), due to the absence of a legal framework to justify intervention. The once prestigious textile company is on the verge of collapse as cheap textile imports have narrowed its market share, coupled with high operational costs. Despite the company sending a petition to the Trade and Industry Ministry to intervene in their crisis, Mr. Iddrisu said even though
Ghana’s 2014 Eurobond will be issued as planned, Minister of Finance Seth Terkper has told the B&FT, in a strong denial of reports suggesting the bond could be scrapped. The Ministry of Finance is going through the preparatory steps to market the bond and received approval this week from the Public Procurement Authority (PPA) to appoint transaction advisors, he said. Doubts about whether the sale would go ahead increased after reports cited Cassiel Ato Forson, the Deputy Minister of Finance,
Ghana’s 2014 Eurobond will be issued as planned, Minister of Finance Seth Terkper has told the B&FT, in a strong denial of reports suggesting the bond could be scrapped. The Ministry of Finance is going through the preparatory steps to market the bond and received approval this week from the Public Procurement Authority (PPA) to appoint transaction advisors, he said. Doubts about whether the sale would go ahead increased after reports cited Cassiel Ato Forson, the Deputy Minister of Finance,
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