In a series of economic storms that has hit Eurozoneâ€™s third largest economy following prime minister Matteo Renzi's resignation, Italy's biggest bank plans to raise â‚¬13 billion ($13.8 billion) and slash thousands of jobs to boost its finances.
It might seem like an endless period of generous fanfare for Ghanaâ€™s President-elect, Nana Akufo Addo but as the staggering realities in the country would sooner or later prove that this supposed honeymoon like the moonlight is set to fade away under the dark clouds of the nationâ€™s economic night.
Over 80 graduates of Abbi Creation University College haveÂ benefitted fromÂ a free capacity training at OmniBankâ€™s SME clinic. The mentorship programme isÂ aimed at aiding theÂ new fashion designers in developing their skills to enable them build sustainable businesses.
Chamber of Petroleum Consumers Ghana(COPECGH) has announced a drop in fuel prices across most oil marketing companies (OMCs) between 1 to 4.23 percent barely a day to end the of the final pricing window for the month of November.
Whether or not to maintain government subsidy on certain products or services in a bid to make them accessible or affordable has created considerable debate in most countries and has even resulted in major labour actions in those places.
Ghanaâ€™s financial services sector is yet to reach majority of the non-bankable population but the introduction of mobile money has over the years ensured that many Ghanaians have moved into mainstream financial services, Head of Service at Vodafone Ghana, Martison Obeng- Agyei has said.
The Supreme Court's order for the freezing of some government accounts has not affected government business contrary to earlier reports to that effect, Deputy Minister for Finance, Mona Quartey has stated.
Over the last few decades or perhaps a century, the Asian economy has produced many global enterprise leaders ranging from the electronic or tech giant - Panasonic, online market place or store, Alibaba, Huawei, etc. In the midst of this fiercely competitive Asian market one firm keeps towering high perhaps for nearly a century and half now, the name; Tata.
Spanning over 148 years now, Tata Group is Indiaâ€™s largest conglomerate with stakes in more than 100 independent companies, several of which bear the Tata brand and a stunning 660,000 employees: Tata Group is just the consummate example of a truly global brand. But that towering status or glittering reputation has somewhat been tainted in the last few months (at least from when it became apparent to the public) following its internal power struggle that has resulted in the probable dismissal and subsequent replacement of its chairman, the Irish â€“ Indian business man, Cyrus Mistry. All these events have drawn the attention of the public in a bid to reconcile what Tata has been known for and the actual realities in the organization. It was once remarked by Prof. Kulwant Singh of the NUC Business School in Singapore that, â€œ there is a great sense of pride in being a staff member of a Tata company and that follows from the ethical standards that the senior leaders have held themselves toâ€. Now there is little to be said of those ethical standards with its numerous employees uncertain about who really is at the helm of affairs and a watching world puzzled by how easily a brand of Tataâ€™s repute could be so easily thrust into a near self-destructive power saga.
Now, with Mistryâ€™s family holding 18% shares of the group since 1930s and an obviously reasonable number of supporters among the ranks of the Tata companies (Motor, Steel, Beverages, etc.) as well as the Tata sons opting for the companyâ€™s patriarch, Ratan Tata as a replacement for the ousted chairman coupled with speculations captured in the words of Prof. Singh that â€œthere appear to be factions that have emerged within the boards of Tata companiesâ€ and that â€œat least some of these board members are reluctant to follow through on Tataâ€™s Sonsâ€™ attempt to oust him[Cyrus Mistry]â€, one cannot but wonder at what would become of this feud.
The workersâ€™ union (Apex Union) at ARB Apex Bank Limited has declared â€œtwo days of red,â€ in protest of among other things, the renewal of the tenure of office of the Managing Director(MD), Mr. Kwadwo Aye Kusi which will end in December.
A loan is an arrangement in which a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some future point(s) in time. Usually, there is a predetermined time for repaying a loan, and generally the lender has to bear the risk that the borrower may not repay a loan (though modern capital markets have developed many ways of managing this risk).