Business

US Backs One-Month Ban on Ivory Coast Cocoa Exports

The United States has thrown its support behind a one-month ban on cocoa exports from Ivory Coast, endorsing a call by the internationally recognized leader of that country, Alassane Ouattara. A State Department spokesman said it is a strategy designed to force the current Ivory Coast president, Laurent Gbagbo, to relinquish power and let Mr. Ouattara assume the nation's leadership

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Ghana to shore up success in oil industry

Ghana on Wednesday put in place a Petroleum Security Co-ordinating Committee (PSCC) to shore up the accomplishment of the fledgling oil industry. The PSCC is strategically placed to regulate safety and security of the oil and gas sector in line with a security master plan developed by the Ministerial Committee on Oil and Gas

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Ghana to become fastest growing economy

The World Bank has projected that Ghana would be the fastest growing economy in Sub-Saharan Africa, with growth rate of 13.4 per cent in 2011, dropping to 10 per cent in 2012. Launching the Bank's global economic prospects report via a video-conference on Thursday, Mr Andrew Burns, Manager of Global Macroeconomics in the World Bank's Prospects Group

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Stock Exchange Extends Trading Hours

The Ghana Stock Exchange (GSE) has extended daily trading hours with immediate effect in an effort to boost liquidity. The exchange will also publish two new indices. The new hours are from 10am to 3pm marking a two-hour extension from the previous 10 am to 1 pm trading session, according to a statement

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Pratt, AGI criticise 30% fuel price hikes

There have been strong public reactions to the 30 percent increase in prices of petroleum products announced by the National Petroleum Authority. As the new prices take effect Tuesday morning, one of the groups which will be hardest hit is the Association of Ghana Industries (AGI)

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Ghana to invest $1.2 billion on gas processing plant

The bottleneck impeding the acquisition of a 27.2 km land at Bonyere in processing plant have been cleared, paving the way for the mega project to progress. The government’s gas industrialisation project, under which 300 million cubic feet of gas is expected to be produced daily, is at an advanced stage, with pipes having been laid from the Jubilee Field to carry gas to the plant for processing

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Gold Fields Ghana Pays Corporate Tax

Gold Fields Ghana, operators of the Tarkwa and Aboso Gold Mines, yesterday paid $26.5 million as corporate tax to government. Out of the amount, $20 million was paid in respect of the Tarkwa Mine, bringing the mine’s total tax paid for January to December to $55 million

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3,000 Ghanaians to receive oil and gas training

ABOUT 3,000 people have registered to train with the Management Development & Productivity Institute (MDPI) for various courses related to operations in the country’s oil and gas sector. Scheduled to begin in the first quarter of 2011, the courses, developed by MDPI which is under the Ministry of Employment and Social Welfare

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We’ll Focus On Agric Sector – World Bank

The Ghana Country Director of the World Bank, Mr. Ishac Diwan, has said that the bank will be supporting the agricultural sector in its 2011 financing portfolio for Ghana. Mr. Diwan said at a meeting-the –press in Accra last week that there were a variety of projects being initiated to modernize and develop the sector to the second highest contributor to Ghana’s economic growth

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