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Christopher Kweku Bennett

Local Assembly acquires earth moving machine for road development

The Ajumako-Enyan-Essiam District Assembly with the support of the Ministry of Local Government and Rural Development has acquired an earth moving machine for the construction and rehabilitation of roads in the district. The District Chief Executive, Mr Peter Light Koomson, who announced this at the second ordinary sitting of the …

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Ghanaian staff say they are ready to take over from AVRL

The local staff members of Aqua Vitens Rand Limited (AVRL) have said they are prepared to take over from the expatriates when their five-year management contract ends in 2011. “We are more than ready to take over the operations of the urban water system from 2011,” said Mr. Daniel Moumolah, …

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Ghana to use abandoned state buildings for business outsourcing

Abandoned and unused state-owned buildings are to be converted to Business Processes Outsourcing (BPO) centres to enable the country attract more subcontracts from the international market. Mr Alhassan Umar, Chief Executive Officer of Information Technology Enabled Service (ITES) Secretariat who told the Ghana News Agency said: “State Construction Corporation (SCC) …

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Adonten Community Bank declares highest profit ever

The Adonten Community Bank made a net profit of GH¢75,943 last year, the highest profit made so far by the bank. This was announced by the Chairman of the Board of Directors, Mr Emmanuel Appiah Korang, at the 11th Annual General Meeting of the Bank at New Tafo, at the …

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Gold may decline

Gold, little changed in Asian trading, may decline after the biggest rally in three weeks spurred investors to sell the precious metal. Bullion typically moves inversely to the dollar and gained 1.4 percent on Aug. 21 as a decline in the Dollar Index, a six- currency gauge of the greenback’s …

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The risk of double deep recession is rising

T he global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression. In the fourth quarter of 2008 and first quarter of 2009 the rate at which most advanced economies were contracting was similar to the gross domestic product free-fall in the early …

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Oil can be a curse to poor nations

Oil is a curse. Natural gas, copper and diamonds are also bad for a country’s health. Hence, an insight that is as powerful as it is counterintuitive: poor but resource-rich countries tend to be underdeveloped not despite their hydrocarbon and mineral riches but because of their resource wealth. One way …

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Nokia to challenge Apple with smartphone

Nokia has pledged to strike back at Apple and produce mobile phones that will compete effectively with the US technology company’s iPhone. Olli-Pekka Kallasvuo, chief executive of Nokia, the world’s largest mobile phone maker, said that it was aiming to be “even more competitive” following criticism that it had failed …

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Job cuts to hit Germany following elections

Germany faces a potential wave of corporate restructurings, some of its top managers say, because companies have deferred job cuts to help ensure the re-election of a business-friendly government at next month’s federal elections. Senior managers and institutional investors say there has been an implicit “pact” not to announce big …

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Japanese stocks rise on signs of global economic recovery

Japanese stocks rose, lifting the Nikkei 225 Stock Average toward its biggest jump in more than three months, after sales of existing homes in the U.S. surged the most on record, the yen weakened and commodities gained. Canon Inc., the world’s biggest digital-camera maker, added 5.4 percent. Honda Motor Co., …

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