Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭15th April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡Growth must reflect in livelihoods of Ghanaians – IMF to gov’t

The International Monetary Fund (IMF) has advised the government of Ghana to ensure that the country’s expected economic growth translates into an improvement in the livelihoods of the citizenry. The Fund maintains that this could be achieved if the government ties its policies and programs with the aim of solving issues such as unemployment.

📡Ghana to save $700m upon completion of clinker factory in Tanoso

The country will save some $700 million once a factory which is expected to reduce significantly the importation of clinker is completed in Tanoso in the Ahafo region completed. Clinker is a nodular material which is used as the binder in cement products. The factory is also expected to provide 1,800 direct employment as well as the creation of over 8,000 indirect jobs to the residents of Tanoso and its surrounding communities.

📡Ken Thompson downplays IMF, World Bank growth projections for Ghana

The Chief Executive Officer of Dalex Finance, Kenneth Thompson has downplayed the significance of the IMF and World Bank projections for Ghana’s economy. The IMF and the World Bank have projected a growth rate of 8.8 percent and 7.6 percent respectively for Ghana’s Economy, making it one of the fastest growing economy in the world for 2019. The forecast from the two organizations, are higher than government’s forecast of 7.2%.

📡Benchmark valuation not against WTO rules — Customs

The Customs Division of the Ghana Revenue Authority (GRA) has said the use of the benchmark value to valuate imported goods at the country’s ports was to ensure that taxes are fairly paid to the State. The benchmark value, the tax collection agency explained, was one out of the six approved valuation methods by the World Trade Organisation (WTO). It also observed that the other methods, namely transactional value, value of identical goods, value of similar goods, computed method and deductive methods were applied sequentially in accordance with the law.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.30%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1862%                  14.7078%
182 - Day         14.0404%                  15.1005%
364 - Day         15.2881%                  18.0472%

Foreign News💤
⚖Huawei is ‘open’ to selling 5G chips to Apple for iPhones, marking a big shift in strategy

Huawei is “open” to selling its 5G chips and other silicon to rival smartphone maker Apple, the company’s founder and CEO, Ren Zhengfei, told CNBC. Apple has not yet released a 5G-ready iPhone, and Huawei could be a potential vendor for 5G modems. Huawei has used its chips exclusively in its own smartphones, and selling them to Apple would mark a significant change in strategy for the company — and a potential challenge to Qualcomm and Intel.

⚖Europe may be playing spoiler to the elusive US-China trade deal

It seems that Beijing’s trade arrangements with Europe are complicating American efforts to radically change trade relations with China.Washington’s difficult trade round with the EU is another reason why China may not be in a hurry to strike a deal with the U.S. Washington is announcing that it has largely agreed on an enforcement mechanism with Beijing to monitor bilateral trade while China continues to accumulate soaring surpluses on its goods sales to the U.S. China’s customs records show that the country’s surplus with the U.S. rose 40 percent in March from the previous month to stand at $62.66 billion for the first quarter of this year.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0837    5.0887
Pound Sterling   GBPGHS       6.6510    6.6591
Swiss Franc         CHFGHS       5.0752    5.0782
Canadian Dollar CADGHS       3.8126    3.8161
Euro                      EURGHS       5.7485    5.7530
Chinese Reminbi CNYGHS      0.7581    0.7586

🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com
www.wikipedia.com
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📌Announcement
   Subject: Opening of Nominations
⭕Pursuant to articles 6 and 13 of the FINSA constitution, notice is hereby given to the general student body in the Department of Finance that nominations for executive officers for the 2019/2020 academic year have been opened.
The available portfolios are:
▶President
▶Vice President
▶ Second Vice President (City campus only)
▶General Secretary
▶Financial Secretary
▶Organising Secretary

⭕Interested applicants should send a copy of their CV and application letter to finsa2018@gmail.com
⭕Applicants must be FINSA members and also meet the requirements of article 6(2).
⭕Deadline for submission is Friday April 19, 2019 11:59:59 GMT
To pick up a form contact...
Scholastica Atigni Akolgo
(General Secretary)
0207198090
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📍Compiled & edited by:   
Philip Elike Gagah
Agnes Boatemaa Appiadu