Ghana News
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Updated 2 hours, 25 minutes ago
Ivory Coast’s electricity monopoly, which has a stock that’s soared 95 percent in the past year, will increase exports as rising domestic demand boosts profit amid an economic recovery in the world’s biggest cocoa producer.
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The Bank of Ghana unexpectedly raised its benchmark interest rate by one percentage point to stabilize a weakening currency as inflation reached a three-year high.
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Zimbabwe’s stock exchange, whose main industrial index has jumped 38 percent this year, plans to sell shares through an initial public offering by the end of 2013, according to the country’s Securities Exchange Commission.
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Cocoa rebounded as a weakening pound helped the futures traded in London, while the dollar- denominated beans traded in New York advanced at a slower pace. Sugar retreated.
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Purchases totaled 679,000t from Oct. 1 through May 9, according to KnowledgeCharts, a unit of Commodities Risk Analysis in Bethlehem, Pennsylvania. * That compares with 754,000t a yr earlier * NOTE: Purchases by industry regulator Ghana Cocoa Board are an indication of output in the country, the world’s 2nd-biggest producer after Ivory Coast
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Ghana’s central bank will probably leave its benchmark interest rate unchanged for a fourth time as a weakening currency pushes inflation to a three-year high.
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Mota-Engil SGPS SA, the Portuguese construction company that said March 20 it was seeking $5 billion of contracts in Africa, is now looking at an even larger figure, its chief executive officer said.
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Ghana’s cedi, West Africa’s worst performer against the dollar this year, may halt its decline in the second half of the year as the country gets more foreign currency to shore it up, central bank Governor Kofi Wampah said.
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Eugene Shepherd admits he’s no beer expert, but he’ll tell you the bottle of Eagle he treats himself to every week is a step up from the murky homebrews that had been his preferred tipple.
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BG Group Plc, the U.K.’s third- largest energy producer, is stepping up exploration off Brazil as part of a plan to add as much as 1 billion barrels of global resources a year.
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