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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 1108

March 29, 2018 12:22 PM U/E to get database on vulnerable people

The Upper East Region will soon have a register of all vulnerable groups and households to guide the execution of government social intervention programmes. The ongoing household data collection under the Ministry of Gender, Children and Social Protection (MOGCSP) targets over two hundred thousand households in the region, with a population of over One Hundred 94

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 126

March 25, 2018 2:10 PM Tim Cook calls for stronger privacy laws after Facebook scandal

Tim Cook looks at Facebook’s messy Cambridge Analytica affair as something of a wake-up call. The Apple CEO has largely kept quiet on privacy issues since Facebook’s troubles sprung up last week. That’s when we learned that the political consulting firm Cambridge Analytica quietly, deceptively gathered data belonging to more than 50 million Facebook 107

March 22, 2018 6:48 AM Facebook’s Zuckerberg ‘sorry’ over Cambridge Analytica ‘breach’

Facebook founder Mark Zuckerberg has admitted that the social network “made mistakes” that led to millions of Facebook users having their data exploited by a political consultancy. Cambridge Analytica is accused of improperly using the data on behalf of political clients. In a later interview with CNN he said he was “really sorry”, and pledged to take action 81

February 28, 2018 5:30 PM Google in historic ‘right to be forgotten’ challenge

A businessman has taken Google to the High Court in London in what is being seen as a landmark case over “the right to be forgotten”. He is challenging Google’s decision not to remove a criminal conviction he has from the 1990s from search results. People can ask for online information to be removed from searches if they feel it is outdated or irrelevant 82

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 54

February 14, 2018 6:38 PM Fair Wages considers halting yearly base pay rises

The Fair Wages and Salaries Commission has disclosed to Citi Business News plans to halt the yearly review of the base salary of public sector workers on the Single Spine Salary Structure (SSSS). The CEO of the Commission, Dr. Edward Kwapong, said the decision should give value for money and link productivity with pay. Being in existence for about eight 104

February 3, 2018 7:18 AM US jobs and wages rise in January

The US labour market barrelled forward in January, as employers added more jobs than expected and wage growth was its strongest in more than eight years. US payrolls expanded by 200,000 last month, driven by hiring in construction, food services and health care, the US Labor Department said. The average hourly wage for private sector workers crept up 2.9% compared 53

January 31, 2018 3:54 PM Asokore Mampong MCE announces major boost in health facilities

Chief Executive of the Asokore Mampong Municipal Assembly, Alhaji Alidu Seidu,. has promised to invest in the health sector to improve healthcare delivery for residents in the area. He said health service within the area has expanded in terms quality in the municipality, following the commitment and diligence staff members of the health directorate have attached 289