Author: sirrichie_2i8r8t
Poland is to become the first NATO member to send fighter planes to support Ukraine – in the form of a dozen MiG-29 jets. Poland’s president Andrzej Duda said his country would send Ukraine four of the Soviet-made warplanes “within the next few days”, but said the rest will need servicing first. They are in the last years of their functioning but they are in good working condition,” Mr Duda said. Mr Duda did not say whether other countries would follow in sending fighter jets to Ukraine, though Slovakia has said it will send its disused MiGs to Ukraine. On Wednesday, Polish…
Majority Chief Whip and Member of Parliament for Nsawam/Adoagyiri, Frank Annoh-Dompreh has called on the immediate past Minister for Trade and Industry, Alan Kwadwo Kyerematen to sack his Campaign spokesperson, Yaw Buaben Asamoah for “insulting” the intelligence of the New Patriotic Party Members of Parliament. The former MP for Adentan, Yaw Buaben Asamoah has incurred the wrath of the Majority Chief Whip by accusing him of forcing the MPs in Parliament to support the Vice President, Dr. Mahamudu Bawumia and also joining him to attend events including impending Akwasidae in Kumasi on Sunday. Speaking on Accra-based Okay Fm, he claimed…
Ghana’s outstanding loans to the International Monetary Fund was relatively unchanged at 1.278 billion Special Drawing Rights (SDR 1.278 billion) at the end of January 2023, equivalent to $1.708 billion. According to the Fund’s Quarterly Finances, the country is still ranked as number one in Africa with the largest outstanding debt to the Bretton Wood institution. Ghana’s loan exposure to the Bretton Woods institution is classified as concessional lending. Concessional loan comes with a low-interest financing. The country has so far repaid SDR 53 million, equivalent to $75.7 million to the IMF. According to the data from the Fund, the…
Only 25.8 percent of registered companies have declared their beneficial ownership (BO) information, nearly three months after the deadline requiring businesses to do so, Office of the Registrar of Companies (ORC) has said. As of February 27, 2023, the ORC said only 74,316, representing 25.8 percent out of the 287,189 registered companies and businesses, had disclosed BO information to it, despite numerous notices to comply with the law. For failing to comply with the December 31, 2022 deadline, a Principal State Attorney and Assistant Registrar at the ORC, Lysbeth A. Osae, said the over 70 percent remaining companies, along with some…
European markets opened higher on Thursday after troubled bank Credit Suisse secured a £45bn funding deal. Stock markets across the UK, France and Germany rebounded while Credit Suisse’s share price surged by 40%. Overnight Credit Suisse said it would borrow up to 50bn francs (£44.5bn) from Switzerland’s central bank to shore up its finances. Fears that Credit Suisse’s issues could cause a wider banking crisis had sent stock markets tumbling on Wednesday. The main stock market indexes in London, Frankfurt and Paris opened higher. By mid-morning, the FTSE 100 index in the UK was trading up 1%, with Lloyds Banking…
Dr. Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measures it has implemented to ensure stability across Ghana’s downstream sector, following the global oil and gas market volatility caused by the Russian-Ukraine war and energy transition-related policies. Speaking during a presentation at Africa Refiners and Distributors Association (ARDA) Week 2023, which is currently taking place in Cape Town, Dr Abdul-Hamid called for increased cooperation between African countries and players within the downstream sector, and between private and public sector institutions to ensure security of energy supply and affordability. “For the first time in 30 years,…
Four of Africa’s biggest lenders — Standard Bank Group Ltd., FirstRand Ltd., Absa Group Ltd., and Nedbank Group Ltd. — collectively set aside $267 million to account for the losses, impairing as much as 57% of local and onshore dollar denominated debt holdings. Meanwhile, Standard Chartered Plc set aside $160 million. A rare move to restructure local debt — bondholders exchanged 87.8 billion cedis ($7.1 billion) of notes that paid an average of 19%, with bonds returning as little as 8.35% — have resulted in losses for financial institutions. Ghana is restructuring most of its public debt, estimated at 576…
The US government says TikTok should be sold or else face a possible ban in the country. The video-sharing app, owned by Chinese company ByteDance, is accused of posing a national security risk through data gathered from millions of users. A request for a change in ownership, first reported in the Wall Street Journal (WSJ), was confirmed to BBC News by TikTok. The company said a forced sale would not change its data flows or access. The White House has not yet responded to a BBC News request for comment. For years American officials have raised concerns that data from the…
Some Oil Marketing Companies (OMCs) started reducing prices of petroleum products at the pumps from today, March 16, 2023. A leading OMC, GOIL is selling a litre of petrol for ¢12.95 from the previous ¢13.92 and diesel for ¢13.49 from the previous ¢13.25. TotalEnergies has also cut prices of petroleum products at the pumps, selling a litre of petrol at ¢12.95 and diesel for ¢13.49 litre. Based on the decline of the products, diesel has fallen by 2.29% per litre, whilst petrol has gone down by about 6.56%. The reduction is in line with the two weeks review of prices…
Lawyer Captain (rtd) Nkrabeah Effah Dartey has cautioned Tiger Eye PI over comments it made against the judgement of Justice Eric Baah in the aftermath of its Chief Executive Officer’s case against Kennedy Agyapong. Anas Aremeyaw Anas brought a GH¢25 million defamatory suit against the Assin Central legislator in 2018 but the court in a ruling on Wednesday, March 15, said the suit lacks merit. The Investigative firm Tiger Eye P. I immediately issued a statement to question the judgement, calling it a “travesty of justice.” Reacting to the statement, Capt. (rtd) Effah Dartey expressed shock that Anas’ lawyers are…
