Author: Krobea

Those who attempt to pray for the Cedi to rise have been advised to desist from doing so. According to world acclaimed economist Kwame Pianim, that will only affect the global competitiveness of Ghana’s industries. “Please, do not pray for the Cedi to appreciate,” he urged. “It will make our globally competitive industries not competitive.” He made this observation at the 2nd Economic Dialogue Series organized by Media General on Thursday, March 28. The latest edition was on theme: ‘The Ghana Cedi: Breaking the Cycle of Depreciation’. In 2014 after the sharp decline of the Cedi, Presiding Bishop of the…

The Brexit process remains in deadlock as MPs struggle to find a consensus on the next steps. The Commons failed to find a majority for a way forward after voting for eight different options on Wednesday. And while some senior Brexiteers have moved towards supporting Theresa May’s deal, the MPs she relies on in the DUP have refused to alter their stance. The PM won some support by saying she would resign ahead of the next round of EU negotiations if her deal passes. This means she still may bring her plan back to the Commons this week for another…

Economist Kwame Pianim has rubbished the injection of dollars by the Central Bank to stabilize the Cedi. According to him, such funds should rather be invested in projects geared towards increased production of local goods instead of importing. Kwame Pianim was speaking at the Media General-organised Economic Dialogue Series on the theme ‘The Ghana Cedi, breaking the cycle of depreciation’. The veteran economist is of the view that government should rather have long term measures to stabilize the Cedi rather than the short term approach such as injecting dollars. The Central Bank recently announced the injection a minimum of $800…

Manchester United have appointed Ole Gunnar Solskjaer as permanent manager on a three-year contract. The Norwegian, 46, arrived at Old Trafford on an interim basis in December to replace Jose Mourinho. Solskjaer spent 11 seasons as a United player, scoring the winning goal in the 1999 Champions League final. “This is the job that I always dreamed of doing and I’m beyond excited to have the chance to lead the club long term,” Solskjaer said. “From the first day I arrived, I felt at home at this special club. It was an honour to be a Manchester United player, and…

International economist Kwame Pianim has taken an unorthodox position regarding who is to blame for the weakening of the domestic currency on the international foreign exchange market. According to the investment consultant, government must not be blamed for the depreciation of the Cedi. “We should not blame government for Cedi depreciation,” he posited. “We should blame the Governor of the Bank of Ghana because that is their job.” He opines that government’s responsibility is to ensure that the general economy is doing well and that has a ripple effect on how the Cedi performs. Mr Pianim shared these views at…

US Ambassador to Ghana Stephanie S. Sullivan led an event on Wednesday in Kpone to mark the new partnership between the Ghanaian company Strategic Security Systems International, and its subsidiary Strategic Power Solutions, with the U.S. Company AEG International. Their initial objective will be to provide solar energy to six dioceses of the Ghana Catholic Church. The US Trade and Development Agency (USTDA) is providing grant support for AEG International to work with Strategic Power Solutions to conduct a detailed feasibility study for the project. The energy for the project will be generated from solar panels assembled in Ghana and…

Boeing has issued changes to controversial control systems linked to two fatal crashes of its 737 Max planes in the last five months. But it’s still not certain when the planes, that were grounded worldwide this month, will be allowed to fly. Investigators have not yet determined the cause of the accidents. As part of the upgrade, Boeing will install as a standard a warning system, which was previously an optional safety feature. Neither of the planes, operated by Lion Air in Indonesia and Ethiopian Airlines, that were involved in the fatal crashes, carried the alert systems, designed to warn…

A Bangladeshi woman has given birth to twins almost one month after delivering a premature baby boy, her doctor told the BBC. Arifa Sultana, 20, gave birth to a baby in late February, but 26 days later was rushed again to another hospital after feeling pain in her stomach. Doctors found she was still pregnant with twins in a second uterus, and performed an emergency Caesarean. Her twins were found to be healthy and were discharged with no complications. ‘We were shocked’ Ms Sultana, who is from a rural village, delivered her first baby at the Khulna Medical College Hospital…

Two men have been charged with a series of offences including rape after a group of British schoolgirls was attacked at gunpoint in Ghana. A number of armed men entered accommodation where the pupils and their teachers were staying during a school trip to the west African country in December. Police said a Ghanaian security guard was shot and the female victims were “subjected to serious sexual assaults”. Some of their possessions were stolen. Police in the UK said Ishmael Akyene, 34, a Ghanaian national, had been charged by Ghanaian police with 14 counts of robbery, one count of rape,…

UNIDO’s Director-General LI Yong will visit Ghana from Thursday, March 28 to Saturday, March 30, 2019.  Mr Yong is scheduled to meet with high level officials from government agencies including Ministry of Environment, Science, Technology and Innovation (MESTI), Ministry of Trade and Industry (MOTI), Ministry of Finance (MOF), Ministry of Foreign Affairs and Regional Integration (MFARI) to discuss matters related to the close collaboration between of the United Nations Industrial Development Organization (UNIDO) and Ghana. He will also take the opportunity to visit selected industrial companies benefitting from UNIDO’s support in Ghana. One of the highlights of Mr Yong’s visit…