🇬🇭13th March, 2019
⏰6:00pm
BUSINESS SPACE📈
_________________________________📡 Ghana Commodity Exchange signs MoU with Barclays Bank
The Ghana Commodity Exchange (GCX) and Barclays Ghana, a member of the Absa family, signed a Memorandum of Understanding (MoU) to cooperate with each other in building a framework for the settlement of trades as well as the provision of financial services to exchange actors. As part of this MOU, Barclays Ghana has agreed to collaborate with GCX in the Warehouse Receipt Financing Programme and be a Settlement Bank to Exchange Members.
📡 Ethiopian Airplane crash won’t affect national carrier plans – Aviation Minister
Minister of Aviation, Joseph Kofi Adda says Ghana will continue with its partnership with Ethiopian Airlines to establish a national carrier. According to the Minister, the recent crash of Ethiopian airline flight 302 which claimed the lives of all 157 persons on board, does not negate the good record of the airline. Ghana recently signed an MoU with the East African giant to partner in the quest to have a national carrier. Mr. Adda said negotiations with Ethiopian Airlines will go ahead as scheduled.
📡 GCNet presents 450 laptops, other items to support GRA
The Ghana Community Network Services Limited (GCNet) has presented 450 laptops valued at $247,000.00 to the Ghana Revenue Authority (GRA). This forms part of GCNet’s commitment to support the GRA and Government of Ghana to increase the country’s revenue generation for accelerated economic development. The laptops will facilitate operations of field officers of the Domestic Tax Revenue Division (DTRD) of the GRA to boost domestic revenue collection.
📡 RGD pushes for passage of Company’s Act
The Registrar Generals Department (RGD) is calling for the passage of the Company’s Act into law by parliament by the end of the year. The RGD is optimistic that the passing of the bill will boost its operations while increasing revenue for the country. The Company’s Act when passed into law will enable the country to have a beneficial ownership regime in place.
|Policy Rate in Ghana - 16.0%|
|Inflation Rate in Ghana - 9.00%|
|Treasury bills rates|
Period Discount Rates Interest Rates
91 - Day 14.1855% 14.7071%182 - Day 14.0810% 15.1474%
2-Yr Note 19.7500%
Foreign News💤
⚖ E-commerce is the 'future for a lot of markets,' Adidas CEO says
Adidas CEO Kasper Rorsted has said that the company saw e-commerce as a "tremendous opportunity." It came as the company published its 2018 earnings, which exceeded analysts' expectations. As it stands now, the Adidas app launched last year has recorded more than 7 million downloads in more than 25 countries. However, Adidas is expecting U.S. growth to stall in the first half of this year as it struggles to meet strong demand.
⚖ The Australian dollar and the New Zealand dollar are most vulnerable to China's economic slowdown
Experts say that two currencies stand out as being the most exposed to China: the Australian dollar and the New Zealand dollar. China is the biggest trading partner of both countries, with 24.9 percent of New Zealand's exports and about a third of Australian exports going to the Asian giant. Flattening demand from China — the world's top consumer of iron ore — is also set to weigh on Australia, the world's largest iron ore exporter. Amid worries over China's economy, these currencies will be most vulnerable to its slowdown.
⚖ Asia trades mostly lower amid fresh uncertainties over Brexit
Asia Pacific markets were mostly lower on Wednesday amid fresh global uncertainties after U.K. lawmakers again rejected the terms of a deal for Britain to withdraw from the European Union. Japan's Nikkei 225 fell nearly 1 percent to 21,290.24 while the Topix index was down 0.84 percent at 1,592.07. The Kospi index in South Korea retraced some of its earlier losses and declined 0.41 percent to 2,148.41 while Hong Kong's Hang Seng index slipped 0.52 percent. Mainland Chinese shares were also lower. The Shanghai composite was down 1.09 percent at 3,026.95 while the Shenzhen composite fell 2.31 percent.
⚖ India's Sensex Volatile After Surging to a Five-Month High
India stocks fluctuated after the benchmark equity index closed Tuesday at its highest level in over five months. The S&P BSE Sensex added 0.2 percent to 37,612.06.77 as of 9:37 a.m. in Mumbai after falling by the same magnitude. The NSE Nifty 50 Index also swung between gains and losses of 0.2 percent. With a rise in nationalistic sentiment, some investors have described this as a boost in prospects.
|Daily Interbank FX Rates|
Currency Pairs Code Buying Selling
U.S Dollar USDGHS 5.2374 5.2426Pound Sterling GBPGHS 6.8783 6.8872
Swiss Franc CHFGHS 5.1970 5.2006
Canadian Dollar CADGHS 3.9152 3.9192
Euro EURGHS 5.9071 5.9118
Chinese Reminbi CNYGHS 0.7807 0.7813
🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com
www.wikipedia.com
****
Term of the day📚
🤔 Mutual fundsA mutual fund is an investment vehicle made up of a pool of money collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and other assets. Mutual funds are operated by professional money managers, who allocate the fund's investments and attempt to produce capital gains and/or income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.
🤔 Can you state the best time or period to buy a mutual fund?
__________________________________
📍Compiled & edited by:
Agnes Boatemaa Appiadu
Philip Elike Gagah
No comments:
Post a Comment