Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭10th April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡Engineers bemoan poor use of technology in Ghana’s development

Different stakeholders in the engineering profession have bemoaned the poor level of mastery and innovative deployment of technology and its application for Ghana’s economic growth. According to them, the vision of industrialization for Ghana will not be realized if the country continues to ignore the important role of science and technology in its development.

📡IMF projects higher economic growth rate percentage than gov't

The International Monetary Fund (IMF) is projecting an 8.8 per cent end of year growth rate for Ghana in its World Economic Outlook report released in Washington D.C, Tuesday. According to the Fund, Ghana economy would be largely influenced by pick up in commodity prices, oil as well as some policy, response measures that government is expected to implement this year.

📡Carbon pricing touted as critical to sustainable dev’t

The Carbon Pricing Leadership Coalition (CPLC) has identified Carbon Pricing as an important tool that can drive sustainable development and reduce carbon pollution. The phrase “put a price on carbon” is gradually becoming increasingly common in corporate and government conversation as discussions of how to address climate change move from concern to action. The World Bank Group, business groups, and investors have called on governments and corporations around the world to support carbon pricing to bring down emissions and drive cleaner investments in cleaner technologies.

📡Prof. Samuel Kobina Annim named new gov’t statistician

An Associate Professor of Economics, Professor Samuel Kobina Annim has been appointed as the new Government Statistician. He assumed duty on March 1, 2019. Prior to his coming into office, David Kombat was acting as the government’s statistician following the retirement of Dr. Philomena Nyarko in 2016.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.20%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1887%                  14.7105%
182 - Day         14.0566%                  15.1192%

Foreign News💤
⚖Uber plans to sell around $10 billion worth of stock in IPO

Uber Technologies has decided it will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday. An IPO of this size would make Uber one of the biggest technology IPOs of all time, and the largest since that of Chinese e-commerce giant Alibaba Group Holding in 2014. Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft’s shares following its IPO late last month, the sources said.

⚖Standard Chartered is paying $1.1bn for breaking sanctions

Standard Chartered is paying out huge sums of money for the second time in less than a decade to settle claims of sanctions busting. The UK-based bank has agreed to pay $1.1 billion to settle allegations that it repeatedly violated sanctions on Iran and other countries. US and British authorities announced the settlement on Tuesday, saying the bank had breached sanctions on countries including Iran, Myanmar, Cuba and Syria.

⚖Consumer inflation could get lift from rising gasoline prices

US' consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month. Both the consumer price index and minutes from that March meeting are scheduled to be released Wednesday. Headline CPI will be reported at 8:30 a.m. and is expected to rise 0.3% or 1.8% year over year. The national average for gasoline is now $2.74 per gallon of unleaded, up from $2.47 a month ago, according to AAA.

⚖UK economy grows as factories get boost from pre-Brexit stockpiling

Britain’s economy has held up better than many economists expected since the 2016 Brexit referendum although it has slowed ahead of its departure from the European Union and as the world economy loses momentum. Britain’s economy unexpectedly grew in February, helped by clients of manufacturers rushing to stockpile goods ahead of Brexit, official data showed on Wednesday. Gross domestic product grew by 0.2 percent from January, the Office for National Statistics said. Economists taking part in a Reuters poll had expected zero growth.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0825    5.0875
Pound Sterling   GBPGHS       6.6377    6.6463
Swiss Franc         CHFGHS       5.0907    5.0953
Canadian Dollar CADGHS       3.8163    3.8202
Euro                      EURGHS       5.7336    5.7380
Chinese Reminbi CNYGHS      0.7571    0.7580

🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com
www.wikipedia.com
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Term of the day📚
🤔 Carbon pricing
It is the method used by many Economists for reducing global-warming emissions (Charges for those who emit Carbon dioxide (CO2). The charge called a carbon price is the amount that must be paid for the right to emit one tonne of CO2 into the atmosphere. Carbon pricing usually takes the form of a carbon tax or a requirement to purchase permits to emit, generally known as cap-and-trade, but also called "allowances".

🤔 What is the difference between carbon pricing and carbon taxing?
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📍Compiled & edited by:   
Philip Elike Gagah
Agnes Boatemaa Appiadu