Economy

NAM1 will be in Ghana upon final determination of Dubai case – Police, EOCO

The Ghana Police Service and Economic and Organised Crime Office (EOCO) have said the embattled Menzgold CEO be available in the country upon final determination of his case in Dubai. Nana Appiah Mensah popularly called NAM1, a joint statement by Public Affairs of the Police Service, ACP David Eklu and EOCO Executive Director, Abu Issah on Friday said faces […]

Economy

This is how much the Ghanaian cedi remarkably depreciated within one year

The Ghana cedi depreciated by 11 per cent between January 2018 and January 2019. Currently, the cedi is trading at GHC4.91 to a dollar on the interbank foreign exchange market. Although some analysts predicted that the cedi could have reached 5 cedis to the dollar within the period, the cedi’s depreciation has been remarkable. Again, […]

Economy

The most franchised company in the world isn’t McDonald’s or Starbucks

Despite the seeming ubiquity of McDonald’s Golden Arches and the Starbucks’ twin-tailed mermaid, sandwich chain Subway actually has the most locations of any restaurant worldwide. In 2017, Subway had 43,912 stores around the world, beating second-place McDonald’s at 37,241 and third-place Starbucks at 27,339 locations. This number, however, belies the economic reality: while McDonald’s and […]

Economy International

Market wants ‘decisive action’ so Turkey needs to raise rates: Yale economist Stephen Roach

Turkey’s central bank needs to raise interest rates to contain the country’s financial crisis, veteran economist Stephen Roach told CNBC on Monday. Earlier in the day, Turkish lira dropped to a new all-time low of 7.24 against the U.S. dollar. It later pared some of those losses to trade around 6.99. “The markets clearly want much more decisive action,” […]

Economy National

European stocks open slightly higher as Turkey crisis weighs on sentiment

Shares in Europe open slightly higher Wednesday as concerns over the Turkish currency crisis continue to affect investors’ appetite. However, trading flows were also sluggish as a number of European bourses are closed due to a public holiday, including Italy, Greece and Austria. The pan-European Stoxx 600 was up by 0.18 percent with most sectors […]

Economy International

China could reportedly use its ‘unwritten’ tech rules as an ‘invisible tool’ against US firms

With Sino-American trade tensions escalating, China’s cybersecurity standards could be used as an “invisible tool” for retaliating against Washington’s tariffs, according to one expert. Such standards are government-issued operational guidelines that are technically voluntary, but are oftentimes treated as mandatory by foreign firms’ Chinese business partners. If Asia’s largest economy were to weaponize the listing […]

Economy International

Market wants ‘decisive action’ so Turkey needs to raise rates: Yale economist Stephen Roach

Speaking at an event marking his country’s independence from Japanese rule, Moon said such a “community” could eventually herald the launch of a “multilateral security system” in the region, according to the report. “This community will lead to an energy bloc and economic bloc in Northeast Asia by expanding our economic area to the northern […]