A Rockefeller Foundation funded report estimates that the field of impact sourcing, employing socio-economically disadvantaged people in Business Process Outsourcing (BPO) centres, is currently $4.5 billion and has the potential to reach $…
Crude oil prices remained battered by market uncertainty Thursday, with July contract futures holding near $95 per barrel in New York.
Oil prices stayed suppressed as China said this week it would raise the limit on reserves held by banks…
Striking Air Canada customer service workers will be returning to work after a tentative contract settlement was reached Thursday, officials said.
Air Canada spokesman Peter Fitzpatrick said company officials were happy to have an agreeme…
Corn, wheat , soybeans and oat futures dropped sharply Thursday while the dollar index was flat, rising 0.01 percent.
Corn was off 12 to off 24 1/4, soybeans were off 14 3/4 to off 17 1/2, wheat was off 23 1/2 to off 35 1/4 and oats were …
U.S. technology companies Hewlett-Packard and Oracle are headed back to the courtroom with HP claiming Oracle has broken a contract, court papers say.
The escalating skirmish between the two companies began when Oracle purchased computer …
U.S. markets closed mixed Thursday with investors rattled by turmoil over Greek debt.
In Athens, Prime Minister George Papandreou is assembling a new Cabinet to work out severe austerity measures required to keep Greece on track to receiv…
Gold futures rose in New York Thursday as equities on Wall Street were mixed on concerns Greece is headed for a default on its debt.
On the Comex division of the New York Mercantile Exchange, gold gained $3.60 to $1,529.80 per troy ounce.…
The Darigold Inc. dairy of Issaquah, Wash., has settled an environmental pollution case stemming from a 2009 ammonia discharge, prosecutors said.
The firm admitted to the mistake that led to an ammonia solution flowing from a refrigeratio…
Texas ranchers say they are using a variety of strategies to keep herds viable eight months into a historic drought.
"The last eight months have been the driest in the state of Texas since records were first kept in 1895," said Travis Mil…
Missouri Attorney General Chris Koster said the founders of car service company U.S. Fidelis willfully committed consumer fraud and other crimes.
Koster said Darain and Cory Atkinson, who were released on a $250,000 bond each Wednesday, h…
Nearly 90,000 U.S. home sales in May involved houses auctioned as part of a foreclosure process, online marketplace RealtyTrac reported.
Foreclosure auctions rose 3 percent from April to May to 89,251, Housing Predictor said Thursday.
St…
Inflation in the European Union dropped slightly to 3.2 percent in May on an annual basis, the region's statistical office Eurostat said Thursday.
In April annual inflation stood at 3.3 percent, Eurostat said.
For the 17-member eurozone,…
U.S. banking giant Citigroup provided a timeline for the data breach the bank now says affected 360,000 credit card customers.
In a statement, Citigroup said the breach by computer hackers was discovered May 10. A bank investigation and c…
Long-term mortgage rates were mixed in the week ending June 16, the U.S. Federal Home Loan Mortgage Corp. said Thursday.
Average interest rates for 15-year loans fell from 3.68 percent to 3.67 percent, with 0.7 points, while 30-year mortg…
Greek Prime Minister George Papandreou appointed Evangelos Venizelos as finance minister Friday, with the country hovering near economic disaster.
Papandreou named Venizelos to succeed George Papaconstantinou as part of a Cabinet shuffle,…
First-time unemployment claims last week fell by 6,000 to a seasonally adjusted 414,000, the U.S. Department of Labor reported Thursday.
The four-week revised average for the week ending June 11 was 424,750, unchanged from the previous we…
New U.S. home construction picked up modestly in May compared with April, the Commerce Department said Thursday.
At an annual rate, there were an estimated 560,000 privately owned housing starts in the month, 3.5 percent higher than April…
Mr Adama Musa, 2006 National Best Poultry Farmer, has appealed to the government to expedite action on the mechanization of agriculture to avoid food shortage, especially maize, which is a major feed component for poultry.
He express…
The South Akim Rural Bank made a net profit of GHC550, 509.00 last year, representing 30 per cent increase over that of 2009.
The bank also increased its total assets from GHC10, 823, 696.00 to GHC14, 337,164, representing 32 per cen…
Members of the Ghana Federation of the Disabled (GFD), has established a 1,000 bird poultry farm at Akyem Sekyere in the Atiwa District to generate funds to improve the living standards of its members.
The farm, that produces over 50…
A 10-day training programme aimed at enhancing the skills in Economics and Financial Reporting has opened in Accra on Wednesday.
The programme, which targets largely new financial reporters, is to enable media practitioners to unders…
Government is committed to enhance and build a strong and vibrant rural economy to reduce unemployment, poverty and rural-urban migration.
Ms Hanna Tetteh, Minister of Trade and Industry made this known when she inaugurated the Rural…
Finatrade Foundation, a subsidiary of the Finatrade Group of Companies on Wednesday presented a cheque for GH¢30,000.00 to the University of Ghana College of Agriculture and Consumer Sciences to train students in crop and livestock product…
Though Ghana has been described as a middle income country, she is not yet a middle income society due to the numerous serious developmental challenges, Mrs Ruby Sandhu-Rojon, United Nations Resident Coordinator, said in Accra on Tuesday.
…
Parliament on Tuesday adopted a report of the Committee on Poverty Reduction Strategy on the Coordinated Programme of Economic and Social Development Policies for 2010-2016.
Dubbed: “ An Agenda For Shared Growth and Accelerated Devel…
The Ghana Investment Promotions Centre (GIPC), on Tuesday launched the 2011 edition of its flagship seminar “Invest in Ghana” and the 2010 edition of Ghana Club 100 awards.
The seminar, to be held on the theme: “The Role of Local Inv…
Chief Directors of six Municipal and District Assemblies (MDAs), Director-General of National Development Planning Commission and three other directors of MDAs will undertake a monitoring and evaluation study tour in Japan next July.
…
Parliament on Tuesday approved a loan agreement between the government and Agence Francaise de Development of France for an amount of forty million Euros to support the Ghana Urban Management Pilot Project (GUMPP).
Mr James Klutse, C…
Government has secured a 7.5 million Euro funding to support the Ghana Interbank Payment and Settlement System (GhIPSS) to undertake the e-zwich rural branchless banking project, Finance Minister Dr Kwabena Duffuor announced on Tuesday.
…
The following is the average inter-bank exchange rate of the dollar and derived rates for the major currencies against the cedi, as issued by the Ghana Association of Bankers on Wednesday, June 15, 2011.
GHANA CEDI EQUIVALENT OF CURRENC…
Once struggling for survival following the eruption of militancy, the industries sector in north Indian state of Jammu and Kashmir is slowly shown signs of recovery, with most public sector undertakings registering profits for the first ti…
Headline inflation in the country went up to 9.06 per cent in May on the back of rising manufactured products and petrol prices, which is expected to prompt the Reserve Bank to go for another rate hike at its mid-quarterly policy review me…
Ailing Air India's turnaround plan, including restructuring of its massive debt, would come up before a Group of Ministers for approval in a few weeks.
"The turnaround plan has been approved by the bankers.
... Now it needs to go to …
France's Christine Lagarde and Mexico's Agustin Carstens were Tuesday short listed to lead the International Monetary Fund, while Israel's Central Bank Chief Stanley Fischer, a last minute entrant in the fray, was ruled out on age ground.
…
China's monthly exports of passenger cars rose to its record high last month, indicating growing demand for Chinese cars from overseas, an industry report showed Tuesday.
According to the report by the China Association of Auto Manufac…
Dismissing concerns that March's devastating earthquake would weigh on Japan's consumer spending, LG Electronics Inc. said Tuesday that it is targeting 25 percent growth in annual mobile phone sales in Japan this year.
LG, which shippe…
South Korea's arms procurement agency said Tuesday it has been in discussions with the Iraqi government to sell its T-50 supersonic trainer jets to the Middle Eastern country.
A team of Iraqi government delegates is scheduled to visit …
China's consumer prices rose 5.5 percent in May from a year earlier to a 34-month high due to soaring food costs, government data showed Tuesday.
Last month's growth in the consumer price index (CPI) was up from a 5.3 percent gain in A…
Kosmos Energy has said it will list on the Ghana Stock Exchange before the end of this year to raise about $50 million to enable it to fund development of its oil operations in the country.
Briefing journalists in Accra on Tuesday, K…
The annual rate of inflation fell to 8.90 percent in May from 9.02 per cent in April on the back of lower food prices, the Ghana Statistical Service (GSS) said on Wednesday.
Announcing the figures at a press conference in Accra, Gove…
Shares of Tullow Oil plc went on sale to the Ghanaian investing public on Monday at an offer price of GH¢31 per share.
Tullow, which is listed on the London and Irish Stock Exchanges, is making available four million of its shares in…
The National Plan of Action (NPA) for the Elimination of the Worst Forms of Child Labour (WFCL) in Ghana and the ILO Convention on minimum age of employment was launched in Accra on Monday with a call on implementing agencies to come on bo…
An international boat show has brought together the world's top-notch boats and yachts in South Korea, giving visitors a rare chance to glimpse into the vast array of luxury boats at a single venue, the event's organizer said Monday.
T…
South Korea is stepping up efforts to ferret out people and businesses engaged in offshore tax evasion schemes by directly investigating foreign financial accounts, the tax office said Monday.
The National Tax Service (NTS) said it wil…
POSCO, South Korea's leading steelmaker, said Monday that its China joint venture has completed the expansion of a stainless steel plant in an effort to effectively cater to growing demand in the world's No. 2 economy.
POSCO and China'…
Sales of consumer electronics products in China rebounded in May largely due to higher seasonal demand, the Chinese government said Monday.
The Chinese Ministry of Commerce said in a report that sales of consumer electronics appliances…
For the United States struggling to create jobs, delaying the ratification of a free trade agreement (FTA) with South Korea is tantamount to "economic self-sabotage," an American congressman said Sunday.
"Unfortunately, time is not on …
There are so many opportunities in the oil industry which need the right dynamics, political will and right infrastructure to drive it forward, a senior official of an oil trading and petroleum distribution company, said on Tuesday.
…
UT Holdings has taken another step into the Financial Market, launching onto the market its insurance business with a pledge to commit to customer satisfaction and innovation in product design.
UT Life Insurance Company Limited aims a…
Current and prospective presidential candidates in the U.S. Republican field on Sunday criticized President Barack Obama for his failed economic policy.
Jon Huntsman, who has worked for the Obama administration until April as U.S. ambassa…