U.S. automaker General Motors Co. reduced its 50-percent stake in its main Chinese venture with Shanghai Automotive Industry Corp. Group (SAIC) to 49 percent Friday in an unexpected move, the company said in a statement.
GM also anno…
U.S. carrier Southwest Airlines said on Friday its November traffic jumped 11.7 percent over the same month last year, which, among other results, pointed to a strong end of the year for the carrier.
Traffic, measured in revenue pass…
The United Nations has predicted that the world economy would bounce back next year with a global growth rate of 2.4 percent, but warned of a risk of a double-dip recession if the wrong policies are implemented.
"We're not out of the…
The European Union (EU) has set aside funds aimed at helping African countries comply with international Sanitary and Phyto-sanitary Standards (SPS) under an initiative called better
training for safer food, the Zambia Daily Mail reporte…
As many as 30 million euro (about 44.4 million U.S. dollars) is prepared by the European Union (EU) to be granted to Indonesia in the next four years, Elshinta.com online news reported here on Tuesday.
EU Ambassador to Indonesia Juli…
World leading providers of products and services, Procter and Gamble Nigeria Ltd, has unveiled a new slogan, "Up to 8 hours, no check no stain", for one of its leading brands, Always Sanitary Pad.
Explaining the slogan at the launch, …
The main index of the Ghana Stock Exchange (GSE), the All-Share Index, ended Thursday trading session flat at 5,377.85, same as on Wednesday.
To date the bourse has lost 48.45 per cent.
Traded volumes closed the session at over…
Mr Victor Donkor, Eastern Regional Director of Controller and Accountant General's Department, has said a major problem facing most financial institutions was the repayment of loans granted to customers.
In a speech read on his behalf…
Oil ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) said Saturday that international investment in petroleum has shrank 20 percent due to the global financial crisis.
They made the remarks at the 83rd OAPE…
The Tema Oil Refinery (TOR) has enough crude tock
to process in the next two months and does not anticipate any interruption in supplies during the Christmas and New Year period.
Speaking to the Ghana News Agency (GNA) on Saturday,…
The first phase of oil drilling in the Jubilee Fields is expected to yield about 278 million barrels of oil, an official of the Ghana National Petroleum Corporation (GNPC), said on Monday.
"The Phase One development of the Jubilee Fi…
Ghana and Denmark on Monday signed two agreements to support private sector development and sustain the elimination of the worst forms of child labour in the cocoa sector.
The agreements were sealed after High Level Consultations bet…
The Tema Oil Refinery (TOR) has enough crude tock
to process in the next two months and does not anticipate any interruption in supplies during the Christmas and New Year period.
Speaking to the Ghana News Agency, Dr Kwame Ampofo, …
Vice President John Dramani Mahama, on Monday launched 17.3 million Euro Rice Sector Support Project (RSSP), aimed at boosting lowland rice production in the country.
He said the Project was one of several strategies government was …
The Accra Metropolitan Assembly (AMA) on Monday began an exercise dubbed "Operation No Hawking" to sensitize hawkers at the central business district of Accra to vacate the streets.
Apart from its staff, the AMA has also included all…
The South Korean government on Sunday said it ordered the GM Daewoo Auto & Technology Co. (GM Daewoo) to recall its mini-car Matiz Creative for problems in the airbags and windshield wipers.
The Ministry of Land, Transport and Mariti…
xEgyptian Minister of State for Economic Development Osman Mohammed Osman expects a growth rate of more than 6 percent in the 2009-2010 fiscal year which ends next June, Egypt's MENA news agency reported.
In his statement on Sunday, …
The French Ministry of Public Accounts and Budget is going to set up an exclusive database to control people with offshore accounts, a new way to restrain tax evaders, the official journal
announced on Saturday.
France aims to moni…
At least 1,400 people took to the streets on Saturday in Paris to highlight the difficulties suffered by the unemployed and those precariously employed since France was struck by the economic crisis in 2008.
The demonstration went th…
Visiting Jordanian Foreign Minister Nasser Judeh Saturday said establishing an independent Palestinian state is in Jordan's interest.
"Establishing a Palestinian state is part of the Arab peace initiative... and it is in Jordan's int…
The Sub-Saharan Africa's first One-Stop Border Post (OSBP), the Chirundu Post, at the border between Zambia and Zimbabwe opened on Saturday with the aim to reduce the delays of clearing customs and immigration and further promote regional …
Some 200 executives at Lloyds are to get as bonuses one-off payments worth up to 80 percent of their annual salaries, the Lloyds Banking Group said on Friday.
A Lloyds spokesman explained that the British government, which holds a 43…
The year 2009 has been a very challenging year for venture capital sector in the United States, and analysts are expecting a recovery for the market next year with more investment going to companies doing real business.
LACK OF EXIT…
Crude prices fell for the third consecutive day on Friday as the U.S. dollar surged on the unexpected drop of unemployment rate.
Light, sweet crude for January delivery dropped 99 cents, or 1. 3 percent, to settle at 75.47 dollars a …
The Bonzali Rural Bank has donated 20 bicycles valued at GHc3,200 towards the 25th National Farmers' Day scheduled for Friday December 4, 2009 in Tamale in the Northern Region.
Mr. Mike Tizaayel, Supervising Manager of the Bonzali Ru…
Mr Isaac Kodobisah, Ho Municipal Chief Executive, on Friday advised farmers to move from the old methods of farming to that of modern mechanized farming.
He said subsistence agriculture must give way to commercial farming which would…
General Motors Chairman and CEO Edward Whitacre Jr. reshuffled the Detroit automaker's management team on Friday, the company said.
On his third full day as CEO, Whitacre promoted several younger executives and urged the company's em…
Employment in Canada rose by 79,000 in November, bringing the unemployment rate to 8.5 percent from October's 8.6 percent, Statistics Canada said on Friday.
"This is a piece of good news!" said Christy Chen, an economist from BMO Cap…
Vice-President John Dramani Mahama has requested the United States Department of Labour to remove Ghana's cocoa from its list of goods produced by child or forced labour.
Ghana's cocoa is among 122 products from 58 countries listed b…
Instead of dealing with the economy at the macro level or simply giving broad strokes, the country needs to get down to specifics to see what should be done about unemployment, said a leading U.S. business expert in a recent discussion at …
The global economy would get the risk of a double dip or a long period of relatively weak growth if the life-support stimulus is withdrawn too soon, said Stephen King, chief economist of HSBC.
KEEP STIMULUS IN PLACE
The economi…
Unilever Ghana Limited intends to recommend to its shareholders at a general meeting that the company's management be authorised to review the operations of the company, according to a statement from the company on Thursday.
The revi…
Mrs. Mary Agangmikre, the Upper East Regional Manager of the Ghana Tourist Board, on Thursday warned operators of hotels and institutions in the tourism sector that the Board would close down
tourist facilities particularly hotels that d…
Mr Mike Hammah, Minister of Transport, on hursday
said the challenge faced by the air transport industry in West Africa calls for a redoubling of efforts to unite and harmonise policies within the sub region.
"The solution largely li…
A total of 19.5 million dollars has been distributed to selected Metropolitan, Municipal and District assemblies (MMDA) to be used as development grants and for capacity building
respectively.
Mr Joseph Yileh Chireh, the Minister o…
The Eastern Regional Security Council (RESEC), in collaboration with the security services, last week seized 11 excavators belonging to illegal gold miners in East Akim and Atiwa districts.
Mr Samuel Ofosu-Ampofo, the Eastern Regiona…
Vietnam's imports from Spain in the first nine months of this year went up 7.5 percent year-on-year to 130.75 million U.S. dollars, according to the information center of Vietnam's Ministry of Industry and Trade on Wednesday.
Imports…
Vietnam's import from Russia went up 30.3 percent year-on-year to 1.06 billion U.S. dollars in the first nine months of this year, according to the information center of Ministry of Industry
and Trade on Wednesday.
In this period, …
France has earmarked 677 million euros (one billion U. S. dollars) for the implementation of various economic and social programs in Nigeria between 2009 and 2013, the Nigerian Tribune newspaper reported on Wednesday.
Jean-Michael Du…
Indonesia targeted 2.94 billion U.S. dollars investment next year in oil and gas infrastructure, local media reported here Wednesday.
An expert at Energy and Mineral Resources Ministry Kardaya Wanika was quoted by the Jakarta Post as…
Cambodia hosts a regional meeting of officials and stakeholders from the four new members of Association of Southeast Asian Nations (ASEAN) on Wednesday to discuss how to improve the economic status in the region.
The one-day meeting…
The Dubai debt crisis is not expected to seriously affect the salaries of around 200,000 Filipino workers there and Manila stands ready to help if job loss spreads to the Filipino community, top Philippine labor official said Wednesday.
…
Nana Owusu-Afari has been elected the President of the Association of Ghana Industries (AGI) for the year 2009- 2011, a statement signed by Mr. Cletus Kosiba, Executive Director, said on Wednesday.
Mr. Afari until his election was th…
The cedi depreciated on Wednesday to the major trading currencies but remained flat with the US Dollar leading to a rise in the Gold Coast Securities (GCS)-Cedi Index by 0.38 points.
The Index, which is the composite measure of the v…
Trade ministers of the World Trade Organization (WTO) members wrapped up a three-day conference on Wednesday with on breakthrough on the long-stalled Doha Round.
"Ministers reaffirmed the need to conclude the (Doha) Round in 2010 and…
WTO members need to break the deadlock in the Doha Round trade negotiations by the end of March if they are to meet their target of concluding the Round in 2010, chief of the organization
Pascal Lamy said on Wednesday.
The end of t…
The Kwamanman Rural Bank saw a strong growth last year, recording a pre-tax profit of GH¢218,862.00 Mr Newman Dapaah, Chairman of the Board of Directors, has said.
This represents 167.9 percentage rise of the previous year's figure of…
The Mponua Rural Bank at Amuana Praso in the Birim North District, granted loans and over drafts totalling GHc1,120.690.00 to its customers last year, as against the GHc816,075.00 granted in 2007.
The credit facility went into ventur…
Mr Emmanuel Kuyole, Africa Regional Co-ordinator of the Revenue Watch, which is based in the United States, has said any mining policy document must not only be transparent but made in a way to link up with the economy.
By so doing, h…
India said on Saturday there is no cause for worrying over potential job losses among Indians employed in the Gulf following the multi-billion-dollar debt default risk faced by Dubai World, reported the Indo-Asian News Service.
India…
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