Business

PRs charged to effectively communicate trade issues

Mr. Dawarnoba Baeka, Chief Director of the Ministry of Trade and Industry (MOTI), has tasked Communications and Public Relations Units under the ministry to brainstorm and come out with out-of- the- box strategies to effectively communicate current positive trends and innovations in that sector to industry players in the country

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House passes Income Tax Amendment Bill

Parliament last Wednesday passed the Income Tax (Amendment) Bill, 2016. The passage gives legal backing to the decision of the Ghana Revenue Authority (GRA) to suspend the collection of the one per cent withholding tax. The Income Tax Act 2015, which was passed by Parliament and assented to by President John Mahama on September 1, 2015, was to have come ...

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Volta rice farmers to benefit from ADP

Small Actions For Enterprise (SAFE-Ghana), a rice production focused non-governmental organization in Ho, in partnership with 2SCALE Projects, has commenced training of certified rice growers in the Volta Region to develop rice agribusiness in the region and improve yields. The team leader at SAFE-Ghana, Patrick Avumegah, said the first phase of the project would see some selected seed growers in ...

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High non-performing loans to affect lending to private sector

The Chief Executive of Stanbic bank, Alhassan Andani, has indicated to Citi Business News lending to the private sector by most commercial banks this year, will be adversely affected due to the increase in non-performing loans. A report released by the Bank of Ghana late 2015, revealed that non performing loans accounted for by local companies increased from in 93.1 ...

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Low oil prices don’t hurt Ghana – Kwarteng

Obuasi West Member of Parliament, Kweku Kwarteng, has said assertions that Ghana’s economy is negatively affected by dips in world oil prices are insincere. He said the country, being a net importer of oil, cannot claim to lose revenue as a result of falls in the price of crude on the world market. The MP made these observations at an ...

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We won’t ‘steal’ your credits again – ECG

The Electricity Company of Ghana (ECG) says it is taking measures to ensure that wrongful deductions are permanently curtailed. In December 2015, PURC announced an increase in utility tariffs, with a 59.2 percent increase for electricity and 67.2 percent for water. Some Ghanaians have since been complaining that they have been paying unreasonably more for especially, electricity tariffs, than they ...

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Angry TEWU officials walk out of Fair Wages meeting

Leaders of the Teacher and Educational Workers Union (TEWU) walked out of a meeting with the Fair Wages and Salaries Commission furious, as another attempt to address their salary concerns broke down. TEWU declared an indefinite strike few days ago, demanding that the disparities in the salaries of junior and senior staff of public universities be addressed. The National Labour ...

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