Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭5th April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡 GRA starts implementation of 50% slash on import values

The Ghana Revenue Authority (GRA) has directed valuating agencies at the ports to effect changes in their valuation for imports effective Thursday (4/04/2019). A memo signed by the Commission General of Customs, Isaac Crentsil to the agencies asked them to adjust the mechanism in accordance with the new directives from the government. The slash on import values is aimed at making clearing at Ghana's ports less costly and improve the government's revenue. This is because, the high costs have resulted in smuggling of goods into the country as some importers are compelled to clear their goods at neighboring countries who offer competitive pricing for the same exercise.

📡 State of Economy: Decide on the facts, not the politics - Economist admonishes

Associate Professor of Economics, Eric Osei Assibey has said there seems to be some turnaround on the macroeconomic front. He has urged politicians to focus on their economic choices, not the political rhetoric following varied political verdicts on the state of the economy. He says it is obvious to even the disinterested observer that the facts of Ghana's economy points to s state of macroeconomic recovery, a situation he insists the IMF has attested to.

📡 Daystar Power expands to Ghana

The solar energy company Daystar Power has opened its second branch in West Africa with an office in the Ghanaian capital, Accra. The fundamental factor for the expansion of the energy business in Ghana is the great potential that Daystar Power attributes to solar energy in Ghana. The company will be led by Olaedo Osoka, who has held a leading position for the African Venture Builder Sunray Ventures at various locations since Daystar Power was founded in 2017.

📡 GCB records GH¢323m profit

Ghana Commercial Bank (GCB) Limited posted a significantly improved bottom line with net profit of GH¢323.13 million for the year ended 2018. This translates into growth of GH¢110.42 million over the GH¢212.72 million recorded in the 2017 financial year. The bank's growth increased despite the instability in the banking industry with 2018 recording GH¢1,260m as total income compared to GH¢1,113m recorded in 2017.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.20%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1953%                  14.7176%
182 - Day         14.0914%                  15.1595%

Foreign News💤
⚖Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics' first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday's number also missed analysts' estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quarter later this month.

⚖ Job market bounces back in March with 196,000 gain in payrolls

Job creation in the US posted a solid rebound in March, with nonfarm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8%, the Bureau of Labor Statistics reported Friday. That was better than the 175,000 Dow Jones estimate and comes after a dismal February that had economists wondering whether the decade-old economic expansion was nearing an end. The unemployment rate met expectations.

⚖ ECB will reportedly ask Deutsche Bank to raise fresh funds for merger

The European Central Bank will ask Deutsche Bank to raise fresh funds before it gives the go-ahead for a merger with a state-backed rival, a person with direct knowledge of the matter said. The official said that Deutsche would be required to have the buffer, which has yet to be calculated, to cope should it experience setbacks while integrating Commerzbank if a deal is agreed.

⚖ Treasury yields rise after strong jobs gains

U.S. government debt yields rose on Friday after the U.S. government said that job creation was stronger than expected in March, but wages grew at a sluggish pace. The yield on the benchmark 10-year Treasury note rose to 2.538%, while the yield on the 30-year Treasury bond climbed to 2.947%. Bond yields move inversely to prices. Job creation snapped higher in March after an anemic February print, with nonfarm payrolls expanding by 196,000, according to a Bureau of Labor Statistics report released Friday. The unemployment rate held steady at 3.8%, meeting expectations.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0829    5.0879
Pound Sterling   GBPGHS       6.6434    6.6519
Swiss Franc         CHFGHS       5.0856    5.0918
Canadian Dollar CADGHS       3.8964    3.8226
Euro                      EURGHS       5.7054    5.7098
Chinese Reminbi CNYGHS      0.7574    0.7583

🌀|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📚
🤔 Treasury yield
Treasury yield refers to the return on an investment in a U.S. government debt obligation, such as a bill, note or bond.Think of it as the interest rate the government pays to borrow money for different lengths of time. For example, say an investor buys a $10,000 Treasury bond with a three percent yield. It will provide a $300 annual return on investment. Treasuries are considered a low-risk investment because they’re backed by the U.S. government. But that low risk typically means smaller returns compared to other investments.

🤔 What can you say about the yield on a long term treasury security and a short term one?

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📍Compiled & edited by:   
Philip Elike Gagah
Agnes Boatemaa Appiadu