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1-10 results from 1000 for query «billion»

May 4, 2018 1:07 PM ESLA pays GHc500m interest to investors

Managers of the ESLA bond, have paid an estimated 228 million cedis as first gross interest payments to investors who bought into the 7 year bond of the six billion cedis energy sector bond. The bond, which formed part of the first tranche of the issuance, attracted an interest rate of 19 percent. A statement from ESLA and copied to Citi Business News said, “Managers 518

April 5, 2018 5:35 AM Deposits still major source of funds for banks – BoG report

Customer deposits still remain a major source of revenue for commercial banks. As a result, commercial banks also bear greater responsibility to their customers in earning interests on such deposits. The latest banking sector report by the Bank of Ghana shows that deposits accounted for 62.5 percent of the banking industry’s assets as at December 2017. According 616

March 29, 2018 9:46 AM Ex Chinese vice mayor sentenced to death for corruption

Zhang Zhongsheng, the former vice mayor of Luliang City in north China’s Shanxi Province, was sentenced to death on Wednesday for taking bribes of more than 1 billion yuan (US$159 million), a court said today, according to Xinhua news agency. Zhang’s personal assets will be confiscated, according to the Intermediate People’s Court of Linfen City in Shanxi 19

March 25, 2018 7:07 PM Ghana’s debt hits GH¢142.5bn, reaches 69.8% of GDP

New figures released by the Bank of Ghana (BoG) after its Monetary Policy Committee (MPC) meeting show that Ghana’s public debt reached 142.5 billion cedis as at December 2017, representing 69.8 percent of GDP. This means that the debt stock has almost hit the dreaded 70 percent of GDP, a point the International Monetary Fund (IMF) has constantly cautioned 35

March 25, 2018 5:15 PM Ghana’s debt now GH¢142bn; reaches dreaded 70% to GDP

New figures released by the Bank of Ghana (BoG) after its Monetary Policy Committee (MPC) meeting show that Ghana’s public debt reached 142.5 billion cedis as at December 2017, representing 70 percent of GDP. This means that the debt stock has hit the dreaded 70 percent of GDP, a point the International Monetary Fund (IMF) has constantly cautioned against 38

March 23, 2018 5:35 AM CAL Bank records GH¢145m profit in 2017

CAL bank has posted a profit after tax of 145.2 million cedis for 2017. This is a significant improvement over the previous year’s figure of 7.2 million cedis. Despite this, the bank still acknowledges the impact of the legacy debts in the energy sector on its loan books. In the first of Citi Business News’ series of report on the performances of the listed 21

March 19, 2018 7:00 AM Alibaba commits to Lazada with fresh $2bn investment

Alibaba is increasing its control of Lazada, its e-commerce marketplace in Southeast Asia it acquired control of in 2016, after it injected another $2 billion into the business and replaced its CEO with a long-standing Alibaba executive. Alibaba’s first investment came in April 2016 when it bought 51 percent of Lazada for $1 billion, and it added another 27

February 28, 2018 10:51 AM NPP probes Obiri Boahen’s ‘false claims’ in leaked audio

The governing New Patriotic Party has tasked its Steering Committee to investigate Nana Obiri Boahen, the party’s Deputy General Secretary, for alleging that the presidency donated about GHc50 billion towards the party’s 2017 National Annual Delegates Conference held in Cape Coast in the Central Region. According to the party, the allegation is “palpable 24

February 23, 2018 9:58 AM New law to track VAT electronically in the offing

Parliament will soon pass a law that will track all VAT issued at various retail centers across the country. The Fiscal Electronic Device Bill is expected to connect all Point of Sale (PoS) devices with the Ghana Revenue Authority (GRA)’s systems. The move is to ensure that VAT issuing companies do not under declare their values and also punish tax evaders 18

February 21, 2018 2:41 PM Minority MPs want Ofori Atta summoned over Ghana’s debt stock

Some minority Members of Parliament want the Finance Minister, Ken Ofori-Atta summoned to provide the true state of the country’s debt stock. According to NDC MP for Ho Central, Benjamin Kpodo, failure to capture debts such as the ones incurred from the collapse of Capital and UT Banks, indicate that government has not accurately reported to the people 33