Prime News Ghana

Today's Ghana Business, Banking and Economic news

Toshiba shares falls at an historic rate: where is the weak link?

When the Japanese industrial conglomerate sunk in $5.4 billion dollars to win a highly competitive bid for the US Electric company, Westinghouse, top investment analyst round the globe raised concerns over the viability of this enterprise as regards its nuclear energy development. However, the deed was done and now Toshiba have had more than 40% of its value wiped off since 26 December.

Vodafone X gives customers eXtra this Christmas

Telecommunication giants, Vodafone Ghana is set to delight Vodafone X customers this Christmas with lots of exciting activities including a Music Concert at the West Hills Mall, and Insomnia movie experience at the Silver Bird cinemas in Accra and the West Hills Malls.

NTHC will overcome challenging times - Managing Director

Managing Director of the National Trust Holding Company (NTHC), Mr. Francis Apanka is optimistic that the company will overcome the current challenges it is facing and maintain its position as a leader in the industry.

Opinions divided over Bank of Ghana governor's tenure

Opinions are divided over whether the current Bank of Ghana governor, Dr Abdul-Nashiru Issahaku, should be allowed to serve his term, following the electoral victory of the New Patriotic Party’s (NPP) presidential candidate, Nana Addo Dankwa Akufo-Addo.

Yahoo takes the punch for the biggest cyber attack with "one billion" user accounts hacked

In a series of developments on corporate cyber attacks, Yahoo has disclosed that more than one billion of its user accounts may have been affected by a hacking attack that dates back to 2013.The electronic mail giant said it appeared separate from a 2014 breach disclosed in September when Yahoo revealed 500 million accounts had been accessed. Yahoo claims that only names, phone numbers, passwords and email addresses were stolen, but not bank or payment data. The company, set to be taken over by Verizon, said it was working closely with the police and other security authorities. Yahoo said it "believes an unauthorized third party, in August 2013, stole data associated with more than one billion user accounts". It further asserted the breach "is likely distinct from the incident the company disclosed on September 22, 2016". However, the three-year-old hack was uncovered as part of continuing investigations by authorities and security experts into the 2014 breach, the Internet giant said. Account users were advised to change their passwords and security questions.

The California-based company has more than a billion monthly active users, many of which have multiple accounts. There is also a host of inactive or dormant account.

Cyber security expert Troy Hunt told a reporter: "This would be far and away the largest data breach we've ever seen. In fact, the 500 million they reported a few months ago would have been, and to see that number now double is unprecedented." The company further claims that some of the breaches could be linked to state-sponsored activity, as with the previous attack.

Prof Peter Sommer, a specialist in digital forensics at Birmingham City University, speaking to a reporter said he could be persuaded it was a state-sponsored hack, "but at the moment I'm not". He expressed his doubts by saying "What on earth is a state going to do with one billion accounts of ordinary users? That's the difficulty I have". In September, when Yahoo disclosed the 2014 data breach, the company said information had been "stolen by what we believe is a state-sponsored actor", but it did not say which country it held responsibly.

While this latest disclosure raises fresh questions about Verizon's $4.8bn proposed acquisition of Yahoo, and whether the US mobile carrier will try to modify or abandon its bid, it also reasserts the larger threats to national security of various nations posed by recurring individual, corporate or state-sponsored cyber attacks.

Inflation drops to 15.5% in November

The prices of goods and services in the month of November was fairly stable as inflation for the month went down.

Inflation dipped from 15.8% in October to 15.5% in November 2016.

This is the lowest in the last twelve months.

The year-on-year non-food inflation rate for November 2016 was 18.7% compared with 19.4% in October.

The year-on-year food inflation rate for November 2016 was 9.3% compared with 8.7 in October.

Inflation for imported items also stood at 16.2 in November. This is 1.0% higher than the rate of locally produced items which recorded 15.2%.

The main price drivers for the non-food rate were; Transport, education, recreation and culture, housing, water, electricity, gas and other fuels among others.

The price drivers for food inflation rate were; Mineral water, soft drinks, fruit and vegetable juices, coffee, tea and cocoa among others.

Greater Accra recorded the highest inflation rate of 18.1%, Ashanti region came second with 15.8% while Volta region recorded the lowest of 13.1%.

The acting government statistician, Baah Wadieh, explained to Starr Businesses' Osei Owusu Amankwaah that the dip in the rate signifies that the rate of goods and services were fairly stable but didn't reduce.

He added that the non food group was the main cause of the dip as there was enough supply of goods during the period.

source: Starrfmonline