South Korea will host an annual meeting of the Inter-American Development Bank (IDB) in 2015, a chance that the government expects would deepen its economic cooperation with American countries, the finance ministry said Tuesday.
The de…
China's drive to develop and expand its domestic market offers new challenges and opportunities for South Korean exporters, a report said Tuesday.
China adopted a new five-year economic development plan at the recently concluded Nation…
The trade ministry has decided to resubmit a ratification motion for the South Korea-European Union (EU) free trade agreement to the parliament after correcting additional translation errors found in the Korean language version of the pact…
The cinema advertising industry across the United States has registered a 12.7 percent growth in 2010 despite the continued softness among other traditional media as the country is still mired in the economic crisis, a trade association sa…
Moody's Investors Service said Monday the outlook for China's banking system is stable over the next 12 to 18 months, and the country's banks have adequate cushions against rising non-performing loans (NPLs).
The report, entitled "China B…
Ebay on Monday announced that it has agreed to buy e-commerce service provider GSI Commerce for about 2.4 billion U.S. dollars.
Ebay offered GSI shareholders 29.25 dollars per share in cash, representing a 51 percent premium over GSI's cl…
Japan's unemployment rate fell 0.3 per cent in February from a month earlier to a seasonally adjusted 4.6 per cent, the Ministry of Internal Affairs and Communications said Tuesday.
The figure compared to median economists' forecast of a …
The International Monetary Fund (IMF) failed to issue risk warnings in the run-up to the financial and economic crisis that began to manifest in mid-2007, the fund's internal watchdog said Monday.
The IMF needs to enhance its surveillance…
A leading U.S. business lobby Monday called for early congressional approval of the pending free trade deal with South Korea to prop up exports and jobs.
"The Korea FTA is a no-cost way to create jobs and grow the economy," Tami Overby…
South Korea's current account surplus posted 1.18 billion U.S. dollars in February mainly due to brisk exports, the central bank said Tuesday.
The current account surplus reached 1.18 billion dollars in February, up sharply from a revised…
Crude oil prices fell on Monday as Libya's rebel forces said to restore oil exports earlier than estimated, which eased the concerns about the lasting supply disruption.
The rebels, who regained control of a number of oil fields and termi…
U.S. stocks undercut advances in the final hour of session on Monday as enthusiasm of positive economic news faded, and worries over turmoil in Middle East and North Africa weighed in.
According to the National Association of Realtors, an…
China Southern Airlines Company Limited (China Southern) posted an upsurge in profits in 2010 from the low base in the previous year due to rebounding demand.
In its annual business report filed with the Shanghai Stock Exchange Tuesday, C…
South Korean companies' direct financing jumped 30 per cent in February from a month earlier, the financial regulator said Monday.
Corporate financing through public offers amounted to 14.05 trillion won (12.6 billion U.S. dollars) in Feb…
South Korea's current account surplus widened in February from the previous month mainly because spending on overseas travel decreased amid brisk exports, the central bank said Tuesday.
The current account surplus reached US$1.18 billi…
The weather on Wednesday will be sunny with few clouds over the northern sector but cloudy over parts of the southern half of the country.
The weather forecast issued by the Ghana Meteorological Agency in Accra said isolated cases of …
The GSE-Composite Index (GSE-CI), the benchmark measure of performance of the Ghana Stock Exchange, fell 9.95 points to close at 1,059.07
points from 1,069.02 points.
The year-to-date now stands at 5.91 per cent.
The GSE-Finan…
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, March 30, 2011.
GHANA CEDI EQUIVALENT O…
MasterCard's India-born President and CEO Ajay Banga Monday said India is a "more exciting" market than China for the cards and payment giant and the company is focused on shifting as many consumers in India as possible from cash to the
e…
The BSE benchmark Sensex extended its gains by adding 90 points in opening trade Monday on continued buying by foreign funds and retail investors.
The 30-share index of the Bombay Stock Exchange, which rallied by over 975 points in th…
India and Africa have set a target to take two-way commerce to USD 70 billion by 2015 on the back of increasing economic engagement between the two sides.
Currently, bilateral trade between India and Africa stands at about USD 45 bill…
The rupee snapped its six-session winning streak Monday faling by 16 paise against the US currency due to fresh dollar demand from importers despite
bullish equities and increased capital inflows.
At the Interbank Foreign Exchange (F…
South Africa Monday said Indian companies can collaborate with its firms in sectors like agriculture, infrastructure, power and mining to boost the bilateral trade.
Infrastructure and mining are the sectors where we see big opportunit…
Ghana commemorates this year’s World Entrepreneurship Day (WED), with the honouring of 45 prominent entrepreneurs.
The Awards Committee of Entrepreneurs Foundation of Ghana (EFG)released the list of 45 nominees for the maiden Ghana E…
An international team of consultants from IBM’s Corporate Service Corps (CSC) programme, has assisted three Ghanaian institutions to improve efficiency and effectiveness through utilising the latest technologies and business processes.
…
Ghana’s housing deficit stands at one million units per household, and there is the likelihood that the figure would double within the next decade, a public data on shelter has indicated.
Mr Akwete Akita, Executive Director of HFC Ba…
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 Tuesday, March 29, 2011.
GHANA CEDI EQUIVALENT OF CURRENCY
…
Alhaji Muhammad Mumuni, Ghana’s Minister of Foreign Affairs and Regional Integration, has called for the elimination of obstacles to trade and economic relations between Ghana and Burkina-Faso while enforcing the laws against fraudulent ac…
South Korea's financial watchdog is poised to announce early next month the results of its legal scrutiny into Lone Star Funds' eligibility as the biggest shareholder of Korea Exchange Bank (KEB), officials said Sunday.
Lone Star, a U.…
A majority of South Korean exporters remain bullish about their business activity in the second quarter of this year, but they are worried about growing uncertainties like political unrest in the Middle East and North Africa, a poll showed…
Mr Kwesi Ahwoi, Minister of Food and Agriculture (MOFA), at the weekend said Ghana lost about 625 million dollars last year because the country’s cotton industry went dormant.
“The cotton sector is a major source of employment and inc…
The National Lottery Authority (NLA) has reviewed commissions payable to lotto retailers on the purchase of lottery coupons and tickets from 25 per cent to 20 per cent.
A statement issued by Mr Kojo Andah, Director General of NLA, to…
South Korean banks plan to start evaluating credit risks of big corporate borrowers from April as part of their efforts to weed out ailing companies,sources said Sunday.
More than 2,000 companies which owe 50 billion won (US$44.9 milli…
South Korean banks'loan delinquency ratio gathered ground in February from the previous month as more companies delayed loan repayment,the financial regulator said Sunday.
Eighteen local banks' defaulted loans, or lending that is overd…
Exports of instant noodles and sugar to Japan rose sharply after a record earthquake hit the island nation earlier in the month, causing people and retailers to stock up on basic necessities, South Korea's government said Sunday.
Cumul…
Small and Medium Enterprises (SMEs) have been urged to take advantage of Information Communication Technology (ICT) to improve their operations.
Mr Solomon Allotey, Head of Management of Information System (MIS) of Eximguaranty Co…
MTN Ghana on Friday identified its nine millionth subscriber at the end of a two-week nationwide search.
The lucky subscriber with 0246135544 was identified automatically by a specially designed system through a countdown process.
…
Parliament on Thursday adopted a Legislative Instrument (LI) to regulate the Anti-Money Laundering Act 2008 (Act 749) enacted to track criminals and financiers of terrorist activities.
A report presented by the Mr Kwame Osei-Prempeh, …
Ghana ranks first among most African countries with high redundancy cost due mostly to the poor handling by employers and unclear rules of recruitment.
Mr Charles Antwi, Legal and Development Officer of Golden Tulip, made the observa…
Mr Albert Kan–Dapaah, Chairman of the Public Account Committee (PAC), has extolled the Ministry of Health (MOH) for being the only ministry to have submitted its 2007 financial report to the Auditor General.
According to the Auditor …
Locally produced rice is very scarce at the Koforidua market in spite of the pronouncement that the country had achieved about 30 per cent increase in local rice production.
A survey conducted by the Ghana News Agency (GNA) at the Ko…
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 Friday, March 25, 2011.
GHANA CEDI EQUIVALENT OF CURRENCY
…
MTN Ghana says it is confident of maintaining all of its nine million customers and winning more
customers from other networks, when Mobile Number Portability (MNP) takes off from July 1, 2011.
Acting Chief Marketing Officer (CMO) o…
Turkey President Abdullah Gul, on arrival in Accra, Ghana, for a two-day official visit, has commended Ghana as a leader in efforts to open a new page for Africa.
President Gul said Ghana is very prominent in Africa for its practice …
The Executives of the Ngleshie-Amanfro-Kasoa (NAK) Poultry, Livestock and Crop Farmers Co-operative has called on the government to give them financial and technical assistance to enable members to produce poultry products at relatively ch…
A report funded by the UK Department for International Development (DFID) on remittances from UK to Ghana has revealed that despite the growth in payments, the system used to send
the money is far from perfect.
Ghana and the UK have…
The United Nation’s World Tourism Organisation (UNWTO) Secretary General, Taleb Rifai has pledged technical and financial support for tourism development in Ghana.
The support will focus on gender empowerment in tourism and technica…
The Minister of Tourism, Ms Akua Sena Dansua, has identified the prevailing good governance environment, economic and political stability, as some of the catalysts making Ghana a preferred tourism and investment destination.
The othe…
Ghana Revenue Authority (GRA) will strictly enforce the 15% gifts tax rate on any gift valued at GHc50 and above, Mrs Freda Badger, Takoradi District Manager, Internal Revenue Service (IRS) of GRA, said on Wednesday.
She said the am…
The Ghana Revenue Authority (GRA) has said business operators with threshold of less than GH¢90,000 in a year would attract a flat VAT rate of 3 percent due to the amendment of the VAT Act 810.
In this regard retailers, wholesalers, …
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