Business

Russia has banned oil sales to countries and companies that comply with a price cap agreed by Western nations earlier this month. The price cap – which was agreed by the G7 group of nations, Australia and the EU – came into force on 5 December. The cap prohibits countries from …

The Public Utility Regulatory Commission (PURC) will later his week announce its quarterly tariff adjustment. The review is expected to take effect from January 1, 2023. PURC adjusts tariffs to reflect changes in macroeconomic variables such as inflation and exchange rate. The review to be done by the regulatory authority …

The Bulk Oil Storage and Transportation Company Limited (BOST) has rejected claims that diesel spilt from its pipeline in the Atimpoku area in a village called Maame Water. According to BOST, the substance was sludge from pressure testing of the pipeline which was undergoing repairs. “For a proper assessment of …

Former Ketu South Member of Parliament Franklin Fifi Fiavi Kwetey has been elected as the next General Secretary of the National Democratic Congress (NDC). Provisional results received by 3news.com so far put the former Deputy Finance Minister in a commanding lead over contenders Dr Peter Boamah Otokunor, who is a …

Ghana Electrical Contractors Association say, government is sidelining them from their usual duties. According to them, government is not giving them direct electrical contracts but always award to the building contractors which is a key challenge in their duties. The President of the Association “Awal Sakib Mohammed” who made this …

The Ministry of Transport says Ghanaians should expect a reduction in transport fares on Monday, December 19, 2022. The announcement follows the reduction in fuel prices at some pumps. Diesel is likely to be sold at GH¢15 per litre in the next pricing window on Friday, December 16, 2022, while …

The Ghana cedi recorded its biggest gain against the US dollar in recent times, as the resurgence of the local currency continues. Within the last 10 days, the local currency gained more than 25% against the American “greenback,” narrowing the year-to-date depreciation to around 30%. Indeed, the cedi within this …

The Director of Research at the Bank of Ghana, Dr. Philip Abradu-Otoo, has reasons for the upturn in the cedi’s fortunes after over ten months of recording drastic depreciation. He attributed the recent respite to a number of measures put in place by the central bank, the government, as well …

Continuous increases in prices of housing, electricity and fuel have pushed Ghana’s inflation rate to hit 50.3% for the month of November 2022. November’s inflation rate is a significant increase from the 40.4% recorded for October 2022. This was captured in the Consumer Price Index (CPI) data released by the …

The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng has disclosed that, consumers are more powerful than retailers in the trade chain so they should recognize that by determining market prices. According to him, the competition in most markets in the country is high as many …