Finance Students & Associates-FINSA (UGBS)♨
                🇬🇭14th March, 2019
                ⏰6:00pm

BUSINESS SPACE📈

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📡 Inflation for February increases to 9.2%

The year-on-year inflation rate regarding Consumer Price Index (CPI) for February 2019, was 9.2% compared to the 9.0% recorded in January 2019. The CPI measures the change over time in general price level of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2012, the base year, which has an index of 100. According to the Ghana Statistical Services, the monthly change rate in February 2019 was 1.0% which is the same as recorded in January 2019. The Acting Deputy Government Statistician, David Kombat made this known to the media during a press briefing.

📡 Fuel prices to increase further if cedi depreciation continues - OMCs warn

Oil marketing companies (OMCs) are bemoaning the dire impact the cedi depreciation is having on their operations. They have warned that they may be forced to increase their prices at the pumps if the rate of depreciation continues. The local currency had depreciated more than 8.5% this year, hitting GH¢5.54 from GH¢4.99 at the beginning of this year in Forex bureaus. The warning comes after the Institute of Energy Security earlier predicted that the depreciation of the cedi will be a major factor in the increase in fuel prices at the pumps for the first quarter of March. They said that the depreciation of the cedi posed a serious threat for the downstream sector if not stabilized soon.

📡 Stakeholders in Maritime industry call for Maritime Transport Policy

According to them, such a policy will streamline activities in the maritime sector - enhancing its contribution to trade. The comments were made at the opening ceremony of the National Maritime Transport Policy Workshop held in Accra. Speaking to Citi Business News on the sidelines of the opening ceremony, the Acting Chief Subdivision for Programme Management and Coordination Technical Cooperation Division, Jonathan Pace said the time for a national maritime Transport Policy was long overdue.

📡 Freight Consult supports MOGO for the 3rd time

Freight Consult, a full accredited customs House has urged corporate institutions in Ghana not to relent in their efforts to invest in the country's creative arts industry. Speaking ahead of Citi FM and Citi TV's Music Of Ghanaian Origin (MOGO) Concert scheduled for 23rd March, 2019, the Business Improvement Manager at Freight Consult, Sylvia Arthur called on corporate entities to view investment in Ghana's creative arts as part of their corporate social responsibility. Freight Consult has supported MOGO for the past three years. Over the years many stakeholders within the creative arts (movies to music), artifacts to dance, have bemoaned poor support from government and private sector as they try to grow their respective fields.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.20%|

|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💤

⚖ Palm Oil is at the heart of the next trade war

Palm oil emerged as a flashpoint in a potential trade war between the European Union and some of the world's largest developing nations after the bloc imposed stricter limits on how the crop can be used in green fuels. The European Commission on Wednesday restricted the types of biofuels from Palm oil that may be counted towards the EU's renewable-energy goals and introduced a certification system. Indonesia and Malaysia have however warned that they are ready to retaliate against what they see as "discriminatory" rules.

⚖ Greece's financial crisis still evokes pain and fear on the streets of Athens

Greece's financial crisis is still hurting the hopes and dreams of the people that love in the Mediterranean nation. The country has been in economic turmoil for most of the last decade. Years of financial mismanagement alongside a culture of clientelistic politics, where goods and services were exchanged for political support, culminated in a long-term recession. The government has tried to show austerity is over by providing additional funds to the lower and middle classes but ordinary Greeks said they haven't seen a massive difference in their lives.

⚖ It's time for a bet on South African stocks - Morgan Stanley

There are dark clouds aplenty casting shadows over South Africa's economy and its equity market. But Morgan Stanley argues that the potential rewards for investors mean that the country's stocks are worth the risks. He added that the country benefits from its relatively high trade with Asia and is the country in eastern Europe, Middle East and Africa that's most closely linked to China, which is seen as leading a rebound in emerging markets this year.

⚖ OPEC stresses need for 2019 oil supply cuts as rivals pump more

The Organisation of the Petroleum Exporting Countries (OPEC) on Thursday cut the forecast of global demand for it's production, building a case to extend a supply-cutting deal with Russia and other allies beyond the first half of 2019. In a monthly report, OPEC said 2019 demand for its crude would average 30.46 million barrels per day, 130,000 bpd less than forecast last month and below what it is currently producing. OPEC, Russia and other non-OPEC producers (OPEC+) agreed in December to reduce output by 1.2million bpd from Jan. 1 to prevent access supply building up. The cut is to last for 6 months. Sources however say an extension of the supply-cutting pact beyond June is likely to happen.

|Daily Interbank FX Rates|
Currency           Pairs Code   Buying    Selling
U.S Dollar            USDGHS 5.2374      5.2426
Pound Sterling        GBPGHS 6.9034      6.9124
Swiss Franc            CHFGHS    5.2058      5.2106
Canadian Dollar     CADGHS 3.9316      3.9355
Euro                     EURGHS 5.9216      5.9262
Chinese Reminbi     CNYGHS 0.7850      0.7813

🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com 
www.wikipedia.com
www investopedia.com
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Term of the day📚
🤔 Depreciation
Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes. For tax purposes, businesses can deduct the cost of the tangible assets they purchase as business expenses; however, businesses must depreciate these assets according to IRS rules about how and when the company can take the deduction.

🤔 Can you name some methods of calculating depreciation
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📍Compiled & edited by:
Philip Elike Gagah
Agnes Boatemaa Appiadu