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February 16, 2018 6:00 AM IES slams ‘insignificant’ 2% Special Petroleum Tax reduction

A senior Analyst at the Institute of Energy Security (IES), Richard Rockson, is dissatisfied with the marginal reduction in the Special Petroleum Tax from 15 percent to 13 percent. Like some observers, Mr. Rockson insists that the Special Petroleum Tax should be scrapped completely. Mr. Rockson stated that even after the reductions, Ghanaians will continue 15

February 15, 2018 5:41 PM Special Petroleum Tax reduced by 2%

Parliament has passed the Special Petroleum Tax Amendment Bill to reduce the tax from 15 percent to 13 percent. The amendment comes after recent protests against the rising cost of fuel, as well as calls from the minority for the Special Petroleum Tax to be scrapped. He explained that the amendment will protect Ghanaians in the future when petroleum 5

February 14, 2018 5:30 AM Demand for locally made chocolates rise

It appears manufacturers of locally produced chocolates will have to double their production levels at least for this year’s edition of the National Chocolate Day. It follows what could be described as the increased preference for locally manufactured chocolates by some Ghanaians on the occasion of National Chocolate Day. Checks by Citi Business News indicate 2

February 13, 2018 9:27 AM Scrap 15% Special Petroleum Tax–IES

The Institute of Energy Security (IES) has called for the outright abolishment of the 15 percent Special Petroleum Tax. The call comes after the Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Union (ICU) embarked on a demonstration over frequent hikes in petroleum prices. The National Petroleum Authority (NPA) has assured that it will take a look at tax and make some adjustment 3

February 13, 2018 5:30 AM Gov’t reaffirms reduced tariffs despite high proposals

Government is optimistic of a reduction in the cost of electricity for the rest of this year. The optimism comes despite proposals for an increase in utility tariffs by service providers. This also follows a stakeholders’ forum ahead of the announcement of new tariffs by the end of this month. The average 14 percent reduction in the cost of electricity 3

February 7, 2018 6:59 AM Bitcoin falls below $6,000

The value of Bitcoin has fallen to below $6,000 – its lowest price since November 2017. The price fell to $5,947.40 (£4,256.44) on Tuesday, according to a price index run by news website Coindesk. Bitcoin reached its peak in November, when it hit $19,000, and then began to fall steadily from mid-December. The latest fall comes a day after several major 11

February 4, 2018 11:54 AM Bitcoin sinks on exchange fears

Bitcoin fell to its lowest level since November amid fears that its price was propped up artificially by one of the world’s largest digital currency exchanges. The US Commodity Futures Trading Commission, a financial regulator, is understood to be investigating the Bitfinex digital currency exchange. Bitcoin, the most popular and widely traded of about 11

January 29, 2018 2:34 PM Andre Ayew inches closer to West Ham exit

West Ham forward Andre Ayew seems to be edging closer to the exit door at the club as the Hammers are reportedly in talks to sign former Southampton forward Graziano Pelle. Hammers boss David Moyes has reportedly placed the Ghana international on the transfer list and is in advanced talks to sign Pelle as a replacement. Ayew’s former side Swansea and Turkish 14

January 23, 2018 5:30 AM Ghana’s imports drop marginally in 2017

Ghana’s imports have dropped marginally between 2016 and 2017, figures from the Bank of Ghana have shown. The country’s imports declined from 12.9 billion dollars in 2016 to 12.7 billion dollars in 2017. This translates into a drop of 1.7 percent within the one year period. Total exports also reached 13.7 billion dollars from 11 billion dollars in 2016. As a result 19

January 5, 2018 12:13 PM Ross Barkley: Chelsea to sign Everton midfielder for £15m

Everton midfielder Ross Barkley is expected to have a medical at Chelsea on Friday before a £15m move to Stamford Bridge. Barkley turned down a move to Chelsea on transfer deadline day in August. But negotiations between the clubs resumed once the transfer window re-opened on 1 January. The 24-year-old England man rejected a new deal at Everton and is out of contract 20