Today's Ghana Business, Banking and Economic news

Despite the devastating effects of the COVID-19 pandemic in 2020, the Ghana Stock Exchange (GSE) posted its highest profit since it was established.

Barring any last-minute hitches, Royal Gold Ghana Limited (RGGL), a refinery in which the state has a 20 per cent stake, will begin operation by the end of October this year.

Ghana last year placed second in Foreign Direct Investments (FDIs) with a total of $2.6 billion.

Eighty dormant Oil Marketing Companies (OMCs) on the books of the National Petroleum Authority, will soon have their operating licences revoked, NPA’s CEO, Dr. Mustapha Abdul-Hamid has notified.

President Akufo-Addo has appointed Ghana’s former Ambassador to China, Edward Boateng as Managing Director of the Tema Oil Refinery (TOR).

 

The Court of Appeal has upheld the ruling of the High Court in the case of UniBank vrs Dr. Duffour and nine others for Nii Amanor Dodoo to act as the receiver.

Egbert Faibille, CEO of the Petroleum Commission of Ghana, has confirmed his attendance and participation at African Energy Week (AEW) 2021, taking place in Cape Town on the 9th-12th of November.

Kufuor Scholar Daniel Amoshie has invented an innovative machine that breaks more than five cocoa pods at a time and sieves the beans automatically.

President Akufo-Addo has stated that for Africa to be able to transform herself and become the epitome of economic empowerment and self-reliance, she needs to have the wherewithal to be able to protect and optimise the resources at her disposal.

New data released by the Bank of Ghana a week ago suggests that Ghana’s ongoing economic rebound may have reached new heights during the first half of 2021 after the economy suffered its first recession in three and a half decades during the second and third quarters of 2020.

The Economic Community of West African States has initiated a project aimed at generating regular data on trade volumes, values and composition by the informal sector.

The Ministry of Employment and Labour Relations has in a statement provided updates on the status of their negotiations with UTAG.

Former Minister of Finance, Professor Kwesi Botchway, has reiterated the importance of collaboration among actors in Ghana’s political space during the formulation and implementation of national projects.

A study carried out by researchers at University of Ghana and Agricultural Policy Research in Africa (APRA) has highlighted the high costs that cocoa farmer face in production that are not reflected in the price they receive for cocoa. 

Apple recently released its Q3 2021 earnings report showing earnings that were above expectations, with revenues increasing 36% year-over-year to $81.4-billion and profits jumping 93% to $21.7-billion. The increase in revenue is reported to be because of a boom in iPhone sales during the quarter.