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Ghana: Markets close with one loser

Trading activity on the bourse closed with the benchmark Composite failing to cling to gains registered yesterday. A pesewa slide in Ghana Oil pegged back the benchmark Index by 0.39 points to close at 1,036.39. This brings its year to date return to 6.95%. The Financial Index was unchanged at its midweek level of 871.03 [...]

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Ghana cedi extend gains against dollar

Ghana cedi currency extended gains against the U.S. dollar on Wednesday on weak corporate demand for the greenback, muted by improved inflows, mainly from offshore investors buying government bonds, traders said. The currency of the West African cocoa, gold and oil exporter rebounded in July after slumping 18 percent in the first half of the [...]

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Ghana: Markets close with three gainers

The stock market bounced back from yesterday’s slide with gains in three equities lifting the market indices at the close of the midweek session. The benchmark Composite Index as a result gained 1.47 points to close at 1,036.78, bringing its year to date return to 6.99%. The Financial Index also added 0.78 points to close [...]

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Ghana: Markets close with two gainers and two losers

The stock market bounced back from Friday’s slide with gains by two advancers offsetting declines by two others. The benchmark Composite Index opened the week up by 0.51 points to close at 1,036.48, bringing its year to date return to 6.96%. The Financial Index also gained 1.08 points to close at 872.44 Trading activity at [...]

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Ghana: Foreign Direct Investment goes beyond 2.5 billon dollars

The country has grossed over 2.5 billion dollars from investments by foreign entities so far this year. This represents the value of projects registered with the Ghana Investment Promotion Centre and capital that have come in. Chief Executive of the Center, George Aboagye however tells JOY-BUSINESS they hope to record more than 3billion dollars by [...]

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Ghana: Government seeks funding to help in LPG delivery

The Minister of Energy, Dr. Joe Oteng Adjei, has asked the Ghana National Petroleum Corporation and its engineers to put in their best to make the energy sector work. He said government is helping in developing and sustaining the Tema Shipyard to create more employment for the people of Ghana and that government is seeking [...]

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Ghana: Markets Close with one gainer

Midweek trading on the bourse closed on a positive note with a pesewa gain in Guinness Ghana giving the benchmark Composite index energy. Guinness, the price mover today rose to GH¢2.38 from GH¢2.37. The benchmark Composite Index closed the session up by 0.39 points to 1,036.20, bringing its year to date return to 6.93%. The [...]

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Ghana: Markets close with one gainer and one loser

The stock market sustained its positive run with the indices given a boost by an advancer. The benchmark Composite Index was up 6.98 points to close at 1,035.81, bringing its year to date return to 6.89%. The Financial Index also gained 9.98 points to close at 871.78 A total of 249,335 shares valued at GH¢130,005 [...]

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Ghana: Markets Close with three gainers and One loser

The stock market ticked higher today with gains in three equities offsetting a decliner. The benchmark Composite Index closed the session up by 7.47 points to close at 1,034.82, bringing its year to date return to 6.79% The Financial Index also climbed by 10 points to close at 873.88. The three price movers gained a [...]

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Ghana: Markets Close with three gainers

Three equities recorded gains today lifting the market indices at the close of midweek trading. Benso Oil Palm led the price movers as it recovered 9GHp to GH¢1.49. UT Bank and CAL Bank also inched up a pesewa each to close trading at 31GHp and 33GHp respectively. Sixteen equities had their shares being traded in [...]

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Ghana: Markets Close with One Gainer

Trading activity on the bourse today ended on a positive note with an advancer sending the benchmark Composite Index higher. Cocoa Processing was the price mover today inching up a pesewa to close at 2GHp. The benchmark Composite Index was up 3.8 points to close at 1,028.23. This brings its year to date return to [...]

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Ghana: Annual PPI Falls To 18.0 Per Cent In July

The annual Producer Price Inflation (PPI) fell to 18.0 per cent in July from 19.1 per cent in June, Acting Government Statistician Dr Philomena Nyarko, said yesterday. This means that the ex-factory prices of goods for all industry rose on average by 18.0 per cent in July 2012 compared to the same period in 2011. [...]

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Don’t blame us for high lending rates – Bankers

The Ghana Association of Bankers, has disputed claims that the high interest rates they charge their customers is a disincentive to economic growth. There have been concerns that the low rates of inflation and macro stability is not reflecting in the interest rates. Speaking to GBC’s Radio Ghana, the President of the Association, Asare Akuffo, [...]

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Bank of Ghana out-doors new 50 cedi notes in Accra

The Bank of Ghana has out-doored the new fifty cedi note in Accra. This is part of efforts to discourage fraudsters from printing counterfeit notes. The Acting Governor of the Bank of Ghana Dr. Henry Kofi Wampah said the new notes will start circulation today, Tuesday 21st August, 2012. The upgraded GH¢50 Banknote has a [...]

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Ghana: Markets Close with One Loser

Trading activity at the week’s opening session closed with the market indices failing to add to gains registered at the previous session. A pesewa slide in the share price of Ecobank Transnational Incorporated to close at 10GHp, held back the market indices today. The benchmark Composite Index closed trading down by 7.05 points to close [...]

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GSE: Week ends with seven gainers and one loser

Gains in seven equities gave the market a massive boost this week with the indices recovering from the previous week’s slide to close higher. The benchmark Composite Index thus shrugged off a laggard adding 3.77 points to close at 1,030.50. This gain in the benchmark index takes the year-to-date return on the bourse to 6.34%. [...]

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Ghana: Stock market closes with two gainers and two losers

Two equities registered gains today while another two declined. The market indices thus closed today’s session in different directions. The benchmark Composite Index failed to extend its rally shedding 0.11 points to close at 1,030.47. This brings its year to date return to 6.34%. The Financial Index on the back of a pesewa gain by [...]

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Weak Cedi: Blames and Solutions

The cedi has been weak and volatile since full financial liberalization. In a liberalized financial regime, exchange rate stability may largely be outside the control of policymakers. Yet, Minister Duffour, Governor Amissah Arthur and President Mills, if they care, should be having sleepless night as they might as well know this: a weak currency weakens [...]

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Ghana’s Inflation Rate rises to 9.5% in July

The Ghana Statistical Service (GSS) announced on August 15, 2012, that the annual inflation rate in July rose to 9.5% from the 9.4% recorded in June. Mr Magnus Ebo Duncan, Head of Economics Statistics, GSS, attributed the inflation increase on the depreciation of the cedi against the dollar which contributed to the inflation rate in [...]

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Ghana: Vice President stresses on need to improve export levels

Vice president Paa Kwesi Amissah Arthur has said although some level of depreciation of the cedi is good, the speed at which the cedi depreciated over the last six months was alarming. Addressing financial journalists in Accra, the Vice President said as the cedi has been appreciating against the major currency, there is the need [...]

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Ghana: Stock Market closes with two gainers

Gains in two equities gave the market renewed energy today with the market indices extending gains for a third-straight day. The benchmark Composite Index thus closed midweek trading up by 1.21 points to close at 1,030.58, bringing its year to date return to 6.35%. The Financial Index also added 1.44 points to close at 868.25. [...]

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Ghana’s inflation pushed higher in July by weak cedi

Ghana’s annual inflation rate increased for the fifth month in a row in July, driven higher by the weak cedi currency which increased the cost of imported foodstuffs, Ghana’s statistics office said on Wednesday. The slight increase still keeps inflation within the Bank of Ghana’s targeted band of single-digit inflation this year in one of [...]

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Ghana: Stock Market Closes with five gainers

Trading activity at the week’s opening session closed on a positive note with gains in five equities lifting the market indices higher. Total Petroleum led the movers adding 4GHp to close at GH¢18.21. Fan Milk followed with a 2GHp gain to close at GH¢2.63 while GOIL which was the most traded stock climbed to 53GHp. [...]

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Ghana: Stock Market Review for Week 32

Five equities closed the week higher but the market indices could not extend their northward climb as they were pegged back by six laggards. The benchmark Composite Index thus gave up 9.50 points to close at 1,026.73. This drop in the benchmark index takes the year-to-date return on the bourse to 5.96%. The Financial Index also [...]

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GSE: Market closers with one gainer

The stock market failed to recover from yesterday’s slide with the indices held back by two decliners at the close of midweek trading. Total Petroleum extended its revival adding 5GHp to close at GH¢18.17. On the flip side, Standard Chartered dropped GH¢1.84 to GH¢43 while Aluworks fell to 5GHp from 6GHp yesterday. In all, fourteen [...]

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Ghana: Stock Market closes with two gainers and three losers

Two equities closed trading higher today but the market indices failed to cling to week opening gains as they were held back by three laggards. Total Petroleum sustained its resurgence climbing 4GHp to close at GH¢18.12. Fan Milk also inched up a pesewa to close the session at GH¢2.61. On the other hand, three equities [...]

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Ghana: Government to maintain economic policies for businesses growth

President John Dramani Mahama has stated that government will continue to maintain a firm hand on the economic policies to ensure that the micro economic environment is conducive for the growth of businesses. This, it will do with already existing objectives and by solving challenges like inflation and high interest rates to benefit small-scale businesses. [...]

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Ghana: Stock market closes with five gainers

Trading activity at the week’s opening session closed on a positive note with gains in five equities lifting the market indices higher. Total Petroleum led the movers adding 8GHp to close at GH¢18.08. The four other gainers inched up a pesewa each. Mechanical Lloyd climbed to 10GHp; SIC Insurance and GOIL closed trading at 34GHp [...]

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Ghana: Parliament approves ¢2.6 billion supplementary budget

Parliament has approved the release of two-point- six billion cedis for supplementary expenses for this year’s budget. The approval of the amount is however subject to the correction of some of the figures put forward by the Minister of Finance and Economic Planning in the budget. The Member for Wenchi, Professor George Gyan-Baffour, contributing to [...]

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Ghana: MIDA assists ARB Apex Bank

The Millennium Development Authority, MIDA, has provided a 30 million dollar assistance for the ARB Apex Bank rural banking computerisation network. Known as the Ghana Rural Bank Computerisation and Integration Project, it is expected to link 700 sites to the Data Centre at the ARB Apex Bank. The Acting Managing Director of the ARP Apex [...]

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Public servants storm Controller and Accountant General’s Department

A large number of public servants on government payroll besieged the Cape Coast office of the Controller and Accountant General’s Department, CAGD for non-payment of their July salaries. The workers, most of them from the health, education and local government services did not have their accounts credited to their accounts at the various banks when [...]

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GSE Composite Index Closes at 1,036.23 pts

The stock market surged higher on the back of gains in four equities. The benchmark Composite Index thus shrugged off two decliners adding 15.06 points to close at 1,036.23. This gain by the benchmark index takes the year-to-date return on the bourse to 6.93%. The Financial Index was also given renewed energy by the advancing [...]

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GSE: Fan Milk extends its rally to close at GH¢2.59

Fan Milk was in the headlines on the bourse today as it extended its rally with a 15GHp leap to close at GH¢2.59. The ice cream maker which had 301,600 of its shares changing hands today has thus appreciated by 33% this week. There was also a block trade in Ecobank Transnational with 1.08 million [...]

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Deloite Ghana says new pension scheme to benefit workers

A Senior Manager of Deloitte Ghana, Mr. Kwabena Situ says the new pension scheme holds immense benefits for workers. Mr. Situ made the point in a presentation at a capacity-building workshop for financial journalists organised by the Institute of Financial and Economic Journalists in collaboration with the Association of Charted Certified Accountants Ghana and Deloitte [...]

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Mills’ death won’t affect Ghana’s B ratings

Standard & Poor’s Ratings Services said today that the death of President Atta Mills as the result of illness will have no immediate impact on its ratings and outlook on the Republic of Ghana (B/Stable/B). Ghana’s well-established democracy ensured a relatively smooth transition from Mr. Mills to Vice-President John Mahama. Under Ghana’s constitution, the vice-president [...]

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Ghana’s PPI Rises To 19.1%

The year-on-year Producer Price Inflation (PPI) rate for June rose to 19.1 per cent compared to 18.0 per cent in May, the Ghana Statistical Services(GSS)has announced. This means the year-on-year inflation from the producer’s perspective for all industry for June 2012 was 19.1 per cent. A statement released in Accra and copied to the Ghana [...]

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Bank of Ghana Sanctions Access Bank Ghana Ltd and Five Forex Bureaux

The Bank of Ghana has decided to take action on a number of irregularities in the conduct of foreign exchange transfers by Access Bank Ghana Limited and five forex bureaux, all located in Accra. The forex bureaux are Ocean Drive Forex Bureau, Kafsons Forex Bureau, Fatcoms Forex Bureau, Nabrim Forex Bureau and Sears Forex Bureau.

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Feature: Overview Of Monetary Policy Regime

In theory, when one talks about monetary policy, it comes down to central bank regulating the value of the currency using the interest rates to influence increase or decrease of the money supply. In this vane, there are several different ways in which countries can pursue price stability. One of such way is simply to [...]

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Ghana: Government revises fiscal deficit to 6.7 per cent of GDP

The revised revenue and expenditure estimates of the 2012 Budget will result in a cash deficit of GH¢4.6 billion, equivalent to 6.7 per cent of Gross Domestic Product (GDP), Dr Kwabena Duffuor, Minister of Finance and Economic Planning, told Parliament in Accra on Wednesday. This is compared with the main 2012 Budget estimate of GH¢3,369.0 [...]

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Ghana: Market closes with five gainers as GSE-CI leaps by 3.32 pts

The benchmark Composite Index extended gains at midweek trading boosted by five advancers. The Financial Index also recovered from yesterday’s slide benefiting from gains in Enterprise Group and Ghana Commercial Bank. Guinness Ghana Breweries was the lead gainer, climbing 5GHp to close at GH¢2.35. Four other equities added a pesewa each at the close of [...]

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