Two organisations on Wednesday called for the right institutions and transparent policies to be put in place before the production of Ghana's oil begins.
The Integrated Social Development Centre (ISODEC) and Oxfam America and Ghana, …
The "Buy American" provisions in the 787-billion-dollar economic stimulus bill that US President Barack Obama signed into law Tuesday, will deal a hard blow to world endeavours in saving the economy.
According to the legislation, the…
Zimbabwe's Unity Government has started to pay civil servants with foreign currency, new financial minister Tendai Biti said on Wednesday.
Biti said on Tuesday the government had paid all members of the Zimbabwe Defence Forces and by…
The European Commission on Wednesday took disciplinary steps against six European Union (EU) members as economic stimulus spending pushed up their budget deficit beyond the EU limit.
"For the member states where the general governmen…
Thirty-two members of staff of West and Central Africa (WECA) region of Mobile Telecommunications Network (MTN) were on Monday night presented with plaques, certificates and cash prizes ranging between US$5,000 and US$15,000 for excellent …
US President Barack Obama on Tuesday signed a 787-billion-dollar economic stimulus bill into law in Denver, Colorado, calling it the first step to pave the way to long-term growth.
The sweeping economic rescue package, the American R…
The Wood carving business at Aburi is gradually collapsing as a result of their relocation, when the Mamfe-Accra road was being constructed.
Patronage of the carved items has declined drastically and most of the shops have been clos…
Mr. John Nana Kow-Acquah, Head of Customs Excise and Preventive Service (CEPS) post at Shia, in the Ho Municipal area has appealed to the Ghana Cocoa Board to place a produce buyer in the area to stop the rampant smuggling of cocoa beans i…
Japan's gross domestic product (GDP) contracted by an annualized 12.7 percent in the October-December quarter of 2008, the fastest pace in about 35 years as the world second largest economy was badly hit by the ongoing global financial cri…
The Chief Farmer of Fianko in Asunafo North Municipality, Nana Barimah Yaw Soadwa, has called on the government to reinforce the use of "Akuafo cheque" in the payment of cocoa farmers in the country.
This, he said, would help elimina…
Vice President John Dramani on Tuesday asked operators in the tourism business to help transform the industry into a job creating one by forging partnership with the government in developing policies that would promote the growth of the se…
The European Union (EU) came under a call on Monday to stick to its principle of open economy and to resist temptation of protectionism in the economic downturn.
"We should not panic and imagine that new social engineering, Napoleoni…
Mr Surinder Nijhawan, Deputy General Manager of Tata Motors Limited in charge of Sales and Marketing in Africa said the company had sold 2,400 vehicles since it started marketing Tata passenger car range of vehicles in Ghana in October 200…
We the Heads of the Multilateral Development Banks and the International Monetary Fund met in Tunis on 12 February at the invitation of the
African Development Bank. Discussions focused on recent developments in the global financial and…
Egypt Prime Minister Ahmed Nazef said on Monday his country could maintain the momentum of economic growth and secure local and foreign investments through step-by- step reforms, despite the unfolding global economic crisis.
Addressi…
The one Ghana Pesewa coin might be one of the currencies introduced by the Bank of Ghana (BoG) following the redenomination of the Cedi in 2007, but it seems to have lost its value as legal tender.
The outright rejection of the coin,…
Last year's food crisis and the current global financial downturn should be enough motivation for Africa to quicken the pace of building its own infrastructure and other key resources in order to wean itself off aid, ECOWAS president Moham…
The inflation rate rose to 19.86 percent in January compared to 18.13 percent a month earlier, Mr Ebo Duncan, Head of the Economic Statistics Unit, said on Friday.
The rate of inflation in January 2009 is the highest since February 20…
Mr Abdul-Mumuni Insah, a Retired Educationist and a renowned Sheanut farmer, has urged the Government to implement all research findings on Sheanut, which had been gathering dust on the shelves of the research scientists and policy makers …
Mr. Abdul-Mumuni Insah, a retired educationist and renowned Sheanut farmer has urged the Government to implement the various research reports on the reduction of the gestation period for the crop.
He held that effective application o…
Crude prices traded sharply lower on Wednesday on larger-than-expected U.S. inventories.
The Energy Information Administration reported that crude inventories jumped by 4.7 million barrels for the week ended Feb. 6, surpassing the ex…
The New York gold market Wednesday posted strong gains for a second consecutive day. Gold futures for April delivery rose 30.30 U.S. dollars, or 3.3 percent, to 944.50 dollars an ounce on the New York Mercantile Exchange.
The gold st…
In a bid to boost Thailand's domestic spending, the government plans to ask shops and department stores nationwide to provide a 10 to 20 percent discount for consumers, deputy Premier Korbsak Sabhavasu said Thursday.
This measure wou…
The One Ghana Pesewa coin, which was introduced as part of redenomination of the country's currency in 2007 is not easily accepted among the public either for purchases or change, a survey has revealed.
The survey, mainly public opin…
The GSE All-Share Index, the main measure of performance of the Exchange, ended unchanged in trading on Wednesday as bearish sentiments persisted on the bourse.
The index ended trading at 9,995.10 points.
Traded volumes slumped…
Otumfuo Osei Tutu II, Asantehene, has called on financial institutions to strategise and pursue vigorous campaign in sensitising Ghanaians on the need to save their monies at the bank.
He said "a lot of money is still being kept at h…
Millicon Ghana Limited, operators of Tigo mobile network, on Wednesday launched an electronic unit transfer system dubbed; "Top and Go" to offer convenience and flexibility to its retailers and subscribers.
The service, which is for …
Brazilian President Luiz Inacio Lula da Silva has criticized the recent protectionist moves by some countries, saying it may worsen the international financial crisis.
In a meeting with Namibia's President Hifikepunye Pohamba in Bras…
James Crosby, deputy chairman of Britain's Financial Services Authority (FSA), resigned on Wednesday for his role in sacking a risk manager during his days as chief executive of HBOS group.
Paul Moore, former head of regulatory risk …
U.S. Senate and House have reached an agreement on President Barack Obama's massive stimulus package, lawmakers said here on Wednesday.
Senator Susan Collins said the cost of the bill will be 789 billion dollars, smaller than the Sen…
World Bank Chief Economist Justin Lin on Monday called for the establishment of a 2-trillion- dollar Global Recovery Fund to help the low-income countries to cope with the current financial crisis.
The proposed massive fund, which Li…
Government on Monday expressed its concern over the high rate of accidents on the country's roads and said it would work aggressively to turn the Accra-Kumasi trunk road into a dual carriage to reduce the carnage.
Vice President John…
Vice President John Dramani Mahama on Monday called for increased collaboration between development partners and Africa to take advantage of the world economic crunch and redirect trade to the benefit of developing economies.
He said…
The Tanzania Revenue Authority (TRA) has pronounced a 6.42-percent drop in revenue collection in the first half of the 2008/2009 fiscal year, according to local media reports on Monday.
The state revenue collection agency said that s…
Philippine car manufacturers are starting to feel the impact of the economic crunch with the dip in auto sales in January.
Data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) showed that the industry so…
The Kumasi Sector of the Customs, Excise and Preventive Service (CEPS) collected a total sum of 24,775,909.25 Ghana cedis in revenue mobilization for 2008 as against a target of 12,240,000 Ghana cedis.
Alhaji Imoru Farouk Adam, Secto…
A cross-section of fishermen in the Central Region on Tuesday, expressed their approval of the decision by government to scrap the Fisheries Ministry.
According to them, its establishment did more harm than good, particularly to arti…
U.S. Treasury Secretary Timothy Geithner Monday urged his counterparts of the Group of Seven (G-7) to act promptly to restore health to the global economy.
A statement released by the Treasury said that Geithner held a conference mee…
U.S. President Barack Obama Monday night said the U.S. economy will recover next year if right steps were taken now.
In the first prime time news conference of his Presidency, Obama said the 2009 will be a difficult year, but adding …
The Indian government will present an interim budget to encourage the creation of jobs and export due to deep impact from the global economic recession, said the semi-official Press Trust of Indian news agency on Sunday.
The budget, …
Nepal's economy which is largely dependent on foreign employment is likely to be directly affected by the global recession, the National News Agency RSS reported on Sunday.
According to the RSS, some people involved in the foreign em…
The gross value of industrial output of the Democratic People's Republic of Korea (DPRK) increased by 9 percent in 2008, the biggest in 10 years, the official Minju Choson daily said on Sunday.
The DPRK cabinet met recently reviewing…
Cadbury, the world's leading confectionery company, says the global credit crunch will not affect its commitment to improving Ghanaian farmers' livelihoods and the development of their communities.
The company last year launched t…
Mr. Paul Ayene, the Supervising Director of Political and Cultural Department of the Ministry of Foreign Affairs has commended the Republic of India for the remarkable progress she has made
over the past decades which has made her one of…
A businessman who dragged a self-styled fetish priest to court for fraud has requested that the case should be discontinued.
His reasons, according to a letter he sent to the court were that he was a Christian and had forgiven the accuse…
Cadbury, the world's leading confectionery company, says the global credit crunch will not affect its commitment to improving Ghanaian farmers' livelihoods and the development of their communities.
The company last year launched t…
Government has given an assurance to assist foreign investors and maintain partnerships with firms to give of their best to national economic growth.
President John Evans Atta Mills said Government would make sure credible companies …
Produce Buying Company (PBC), a licensed cocoa buying firm, says it bought 12 per cent more cocoa in 2007/8 season than it did the previous season.
Cocoa purchases rose to 208,482 tonnes compared to 186,051 tonnes last season, company…
The Prudential Bank Ghana Limited is to introduce internet banking services to enable its customers to conduct financial transactions without visiting the normal banking halls.
The bank also plans to introduce other electronic bankin…
Fifteen senior officers of the Customs, Excise and Preventive Service (CEPS) are in Australia to undertake a specialized training programme at the Centre for Customs and Excise Studies, University of Canberra.
The team led by Mr Paul…
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