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Oil discovery in Ghana may boost creditworthiness – Fitch

The discovery of oil in Ghana has the potential to improve the country’s sovereign creditworthiness over time, but much will depend on how the authorities there manage the new revenue stream, ratings agency Fitch said Friday. In its new sovereign report on the country, Fitch said Ghana faces difficult times …

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Nigeria envoy unhappy with planned protest by Niger Delta group

Nigerian High Commissioner to Ghana, Mr Musiliu Obanikoro, has slammed members of the Niger Delta communities in Ghana over a planned protest by the group in Ghana. The Niger Delta group had slated protests for the streets of Accra on July 10 and 11 during the visit of President Barack …

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G8 pledges billions for global food crisis

President Obama hopes to win billions of dollars in agricultural assistance for developing nations Friday as he leaves an international summit that failed to make major progress on climate change. His next stops: a meeting with Pope Benedict XVI and his first visit as president to sub-Saharan Africa. While the …

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Obama’s visit to Ghana sparks envy across continent

The White House’s choice of Ghana as President Obama’s only port of call in sub-Saharan Africa this week has triggered envy across the continent. The visit, his first to sub-Saharan Africa since becoming president, is also being interpreted as a snub to those African governments with records of corruption, poor …

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French are worst tourists in the world – Survey

French tourists are the worst in the world, coming across as bad at foreign languages, tight-fisted and arrogant, according to a survey of 4,500 hotel owners across the world. They finish in last place in the survey carried out for internet travel agency Expedia by polling company TNS Infratest, which …

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Ghanaian students in China applauded

Mr. Akwasi Agyeman Agyare, Acting Head of Ghana’s Mission in China, has congratulated Ghanaian students in China for their mutual understanding, cooperation and patience with the government during the difficult period of accessing remittances from the Scholarship Secretariat. Mr Agyare praised the students for their maturity for being sympathetic with …

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Gold price up from two-month low

Gold edged up on Thursday, after falling almost $15 towards $900 an ounce the previous day as investor risk aversion pushed the dollar up versus the euro, dulling bullion’s allure as an alternative asset. The bounce from a two-month low hit on Wednesday was mainly led by bargain-hunting by regional …

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IMF raises Asia’s growth forecast from 4.8% to 5.5%

The International Monetary Fund has raised its 2009 growth forecast for Asia’s developing economies from 4.8 percent to 5.5 percent but cautioned that a sustained rebound will depend on recovery in developed economies. The Washington-based cited improved prospects for regional giants China and India. In a report Wednesday, it raised …

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Oil price rebounds towards $61

Oil rebounded towards $61 a barrel on Thursday, correcting from a seven-week low hit on bearish oil data that outlined continued weak demand amid growing concerns about the pace of economic recovery. A larger-than-expected rise of 3.7 million barrels in U.S. distillates stocks last week left them at close to …

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Obama tells African leaders to take responsibility for economic failures

U.S. President Barack Obama said African leaders should take responsibility for a lack of economic progress, adding that “excuses” about neo-colonialism had hindered progress on the world’s poorest continent. The U.S. and Western nations can’t be blamed for “disastrous policies” in some African countries or for the economic collapse in …

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