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Services slump slows GDP
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Economic growth slowed in the third quarter of 2012 as the services sector, which provides the largest chunk of output, shrunk for the first time in five quarters, by 2.2 percent.
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ADB delays plans to list on Ghana Stock Exchange
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The Agricultural Development Bank (ADB) has suspended plans to list itself on the Ghana Stock Exchange, a move that will delay the bank’s plans to end state ownership and become a private entity.
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Liberty Group of Companies make inroad in Ghana’s financial market
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Liberty Group of Companies is establishing a strong presence in Ghana’s burgeoning financial market. The Chief Executive Officer of the Group, Williams Adjovu, said the goal of his outfit is to provide varied products and services that would improve the lives of ordinary Ghanaians.
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UT Bank is Bank of the Year 2011
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UT Bank was declared Ghana’s best bank at the 2011 Ghana Banking Awards held at the Accra International Conference Centre, Saturday night.
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Channel common funds through rural banks - Rural bank chairman
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The Board Chairman of Amenfiman Rural Bank at Wassa Akropong, Dr. Toni Aubynn, has appealed to the Ministry of Local Government and Rural Development to channel the District Assemblies’ Common Fund and other District Assembly funds through the rural banks for disbursement to the Assemblies.
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Saving the cedi - TUC advocates tax on forex trade
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The Trades Union Congress (TUC) has called for a financial transaction tax (FTT) on foreign exchange transactions to curb speculation around the cedi, while it criticised the Bank of Ghana’s “fruitless attempts” to shore-up the currency.
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Does Ghana need more commercial banks? (Video)
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Sydney Casely-Hayford, Business analyst and Investment Consultant and Menson Torkornoo, ex-Banker are convinced Ghana has too many banks. They are convinced the numbers will not solve the nation's banking problem, plus, there are so many things being done wrong that need correction.
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“Rich Dad Poor Dad” Author to speak at 4th MTN-Business World Executive Breakfast Meeting
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MTN, Ghana’s leading telecommunications company and Business World, Ghana’s foremost business magazine have announced that Sharon Lechter, co-author of the internationally acclaimed bestselling book “Rich Dad, Poor Dad” and a world renowned speaker on financial literacy will be the keynote speaker at the 4th MTN Business World Executive Breakfast meeting.
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Stanbic continues to soar in project-financing
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Stanbic Bank Ghana has again demonstrated its commitment to supporting the growth of Ghana’s economy through the financing of a state-of-the-art wheat-mill built by Olam Ghana, a leading global and integrated supply chain manager of agricultural products and food ingredients.
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Lending rates will remain stable
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The recent one percent point increase in the policy rate to 13.5 percent announced by the Bank of Ghana (BOG) is not expected to lead to an increase in lending rates by banks, Mr. Sam Ayininuola, Managing Director and Chief Executive Officer, Energybank, has said.
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Analysis: Can Government of Ghana Implement Proposed Mining Taxes?
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Ghana's 2012 national budget statement and economic policy proposes to reintroduce the following fiscal initiatives into the mining sector: increase corporate tax rate from 25% to 35%; install a windfall tax of 10%; and implement a uniform regime for capital allowance of 20% for five years. The budget also seeks to review the principle of ring-fencing to prevent companies from tax evasion.
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