Economics

Kumasi, Aug 19, GNA - Dr. Ekwow Spio-Garbrah, the Trade and Industry Minister, has cautioned importers to desist from making false declaration of goods, cleared at the ports.

He said in as much as the government was eager to create a business-friendly environment, anything illegal that denied the state vital revenue for socio-economic development would not be accepted.

The Minister described as deeply disturbing the situation where about 65 per cent of importers engaged in the unhealthy practice.

Mega-field complex off the West African coast could produce as much as 80,000 barrels of oil per day.

LONDON, Aug. 18 (UPI) -- One of the bigger oil projects off the coast of West Africa has started production from a floating facility offshore Ghana, Tullow Oil announced Thursday.

"I am delighted that the TEN fields have reached first oil," Tullow CEO Aidan Heavey said in a statement.

President John Mahama this morning commission the FPSO Professor John Evans Atta Mills to commence oil production from the Tweneboa-Enyenra-Ntomme known as the TEIN fields.

The Tweneboa-Enyenra-Ntomme is expected to produce between 20,000-23,000 barrels of oil per day.

A section of Ghanaians claim the delays in the completion of the project and its subsequent commissioning was a deliberate ploy by the government to deliver it at the last minute to elections in order to score some political points

But Alhaji Fuseini play down the claims, saying “this is not a way by government to buy votes ahead or during the elections because these projects had been planned already”.

President John Dramani Mahama has commissioned an ultra-modern six unit classroom block for the Ada Senior High School.

The six unit classroom block with 2 staff common rooms and 9 toilet facilities was provided by Groupe Ideal.

At a short ceremony in Ada, Paramount Chief, the Queen mother, the Headmaster, and members of the community gathered at the forecourt of the new school building to officially receive the keys from Groupe Ideal.

Accra, Aug. 14, GNA - The Deputy Minister of Environment, Science, Technology and Innovation, Dr Bernice Adiku Heloo has urged stakeholders to incorporate environment health and safety tips into their operations in order to help promote the sustainable development goals (SDGs).

Speaking at the maiden launch of the Environmental Health and Safety Awards in Accra, she noted that science and technology has brought in its wake environmental and health challenges through socio- economic activities.

Accra, July 18, GNA - The Bank of Ghana (BoG) held its policy rate unchanged at 26 per cent as the risk to inflation and growth is in balance.

“In assessing the current economic conditions, the Committee views the risks to inflation and growth as balanced and decided to maintain the policy rate at 26 per cent,” Dr Abdul-Nashiru Issahaku, the Governor of BOG, told a press conference on Monday.

Dr Issahaku said to a large extent, the pace of decline in inflation had been reinforced by the current tight monetary policy stance and stability in the local currency.

Accra, Aug. 14, GNA - Mrs Linda Ofori-Kwafo, the Executive Director of Ghana Integrity Initiative (GII), has asked political parties to incorporate the gaps in anti-corruption legislation in their manifestos.

She said this is necessary because manifestos launched during pre-elections become the main development planning tool that is implemented after elections by the party that forms the government.

Mrs Ofori-Kwafo was speaking at a news conference in Accra to make presidential and political parties to demonstrate commitment to the fight against corruption.

Cape Coast, Aug. 15, GNA - President John Dramani Mahama has stated that government’s investment in socio-economic infrastructure is an investment for the future well-being of the country.

He said the achievements of the Government in terms of the infrastructure, littered everywhere in the country, were there for all to see.

President Mahama said this when he addressed the teeming supporters of the National Democratic Congress (NDC) at the launch of its 2016 Campaign at the Cape Coast Sports Stadium on Sunday.

Importers of renewable energy products into Ghana have been advised to bring in high quality products to avoid littering Ghana with e-waste.

The Deputy Minister of Environment, Bernice Heloo, speaking at the opening of the second Renewable Energy Conference in Ghana Tuesday August 9, 2016, said the conference is an opportunity to challenge Ghanaians to a healthy debate to attain the government’s target of achieving 10 per cent of renewable energy in the national energy mix.