The Ghana Real Estate Developers Association (GREDA) has welcomed calls for government to quickly abrogate the controversial STX Housing project and hand it over to them.  According to GREDA, it is poised to execute the project if government awards it the contract. The STX housing project, which was meant to provide housing for the nation’s security personnel, is on the verge of collapse. The Vice-President,... 

The Coalition for the Protection of Individual Liberties and Constitutional Rights has called on the Bank of Ghana to freeze the accounts of top management of The Trust Bank (TTB) as it launches investigations into the payment of a 10 million Ghana cedis severance package.    TTB headquarters in Accra The monies were paid to top management of TTB who opted out of the recent takeover of the bank... 

…Foreign reserve investments The Bank of Ghana (BoG) has suspended its decision to invest 5% of foreign exchange reserves in emerging markets. According to information from the Treasury Department of BoG, the increasing volatility of the emerging markets does not make it safe for the BoG to invest. The decision would have seen the Central Bank invest part of the 5% in the Chinese Yuan to follow... 

rLG Communications Ghana is expanding opportunities for the youth and persons with disability to be gainfully employed.   Roland Agambire, CEO rlg Officials of the pioneer mobile phone assembling company say the Ashanti Region has a fair share of the employment avenues. “The company currently engages 950 youth in the region, including 18 physically challenged,” says rLG Regional Sales Manager,... 

The oil price has risen sharply on optimism about the global economy as well as fears over Middle East tension. Brent crude closed at $112.27 a barrel, up $4.89 on the day, while US crude was up $4.13 to $102.96. Better-than-expected survey data from the US, China, India and some eurozone states boosted hopes for a global recovery and increased oil demand. But a recent Iranian missile test and new... 

Trading in shares in Italian bank Unicredit has been suspended after they fell 9.9% on Milan’s FTSE exchange. Unicredit has to raise funds to meet new banking regulations The shares dropped after the bank announced the price for a 7.5bn euro ($9.8bn; £6.3bn) rights issue at a 69% discount to Tuesday’s closing price. The bank faces a 7.97bn euro capital shortfall in order to meet new rules... 

The downturn in the eurozone service sector slowed in December, according to a closely watched survey. The Spanish service sector continues to contract The Markit eurozone service purchasing managers’ index (PMI) was 48.8 in December, a three-month high. Any score under 50 represents a contraction. It follows a better-than-expected manufacturing survey of 46.9, up from 46.4 in November. However,... 

Under six months of its launch  With just about six months into the launch of the Mobile Number Portability system, figures available to Citi Business New indicate that successful porting is now 50 percent more than the National Communications Authority.   Haruna Iddrisu, Communication Minister The National Communication Authority (NCA) together with the consultant on the projected estimated... 

The Bank of Ghana (BoG) has described the country’s economy in the year 2011 as a good one.  Mr. Amissah-Arthur, Governor of BoG “I think it has been good,” the BoG Governor, Kwesi Amissah-Arthur, told journalists in Accra December 21, 2011 when asked about the performance of the economy for the year 2011. All the economic indicators have shown positive signs, he noted. The bank’s Composite... 

For customers Emirates Airlines is offering its customers exceptional discount on airfares to more than 100 cities from now until January 9, 2011 to welcome the New Year. Customers can save up to 25 per cent off all published First Class, Business Class and Economy Class fares departing between January 22 and June 30, 2012, when travelling round-trip to any destination on Emirates’ extensive global...