Business

Sat,25Oct2014

Business

Ghana to increase Jubilee and TEN oil production by 2016

Alex Mould, head of Ghana National Petroleum Corporation (GNPC) hopes to raise $1 billion to fund its plan to become an independent operator in seven yearsGhana's national oil firm expects to pump 190,000 barrels of crude per day by the end of 2016 and is set to tap markets again to raise more capital, the head of Ghana National Petroleum Corporation (GNPC) said on Thursday.

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Ghana: Labour unions strike over pension fund

Twelve labour unions, including public health and education sector workers, have declared a nationwide sit-down strike, over what they refer as "government's failure and undue delay" in paying part of their pension contributions into a private account.

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Somali port to get facelift

Photo©ReutersThe Somali government's grand vision for Mogadishu port under its new Turkish managers sees modern container ships replacing wooden dhows, new cranes easing the back-breaking work of porters and a surge in state revenue as traffic rises.

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Cocoa and coffee producer in West Africa fighting against Ebola impact

Photos@ReuterscocoawestafricaNestle has no plans to close any of its eight factories or curb output in cocoa and coffee-rich West and Central Africa because of Ebola, but is ready to adapt if it spreads, the Chief Executive of the world's largest food company said this week.

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No measurable benefit in DRC tax hike in new mining code - Mark Bristow

Mark Bristow, the CEO of gold miner Randgold Resources Ltd says DRC can't afford to make itself even less competitive than it is today.The Democratic Republic of Congo's focus on maximising short-term tax revenues risks squandering long-term mining prospects, the chief executive of one of its largest mining investors warned on Wednesday.

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South Africa's budget to freeze government's personnel budgets

South Africa's Finance minister Nhlanhla Nene says the national government's personnel budgets would be frozen. Photo©Julian GoldswainSouth Africa has slashed its growth forecast to 1.4% for 2014 amid a warning that the economy has reached a 'turning point.'

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Ghana: Mahama looking for cash

President of Ghana, John Mahama. Photo©ReutersDespite growing oil and gas production, economic troubles dominate.

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