Stanbic Bank Limited, which started with only three branches three years ago has now opened up 24 more branches across the country. The move was to bring banking services to the doorsteps of customers to enable them have access to financial assistance to help them improve on their businesses.

GHANA Commercial Bank Limited (GCB) has opened its 148th branch at kisseiman in Accra.

More spending by governments will be needed to stimulate worldwide economic growth, the head of the International Monetary Fund (IMF) has told the BBC.

A World Bank-assisted project to automate the Ghana Stock Exchange (GSE) is nearing completion, with the electronic depository functions becoming operational as the exchange excels amid a crippling global financial market.

The key contention over the so-called “unholy trinity” is that we have a governing authority (the Central Bank) setting up in GHIPSS, a market referee which the Bank fully and solely owns and controls.

The Export Development and Investment Fund (EDIF) has moved in swiftly to help reverse the falling trend of receipts from handicraft with a sensitisation workshop for exporters. About 80 stakeholders in the export of handicraft,

THE Bawjiase Area Rural Bank has disbursed a total of GH¢1,100,820 to 105 women groups, under the micro finance programme to expand their businesses.

The National Petroleum Authority, (NPA), has announced a 17.17 percent slash off the price of petrol in Ghana, effective Friday morning.

The common currency for the five-member West African Monetary Zone (WAMZ), the Eco, is to be introduced on schedule in December 2009.

Standard Chartered Bank has assisted 18 Small and Medium Scale Enterprises (SMEs) to participate in this year’s annual World SME Expo in Hong Kong. In all 150 SMEs from Africa participated in the one week fair which ended on December 13, 2008.

THE Staff of the Berekum branch of Barclays Bank painted the local Presbyterian Primary One School to commemorate the 13th ‘Make a Difference Day’ celebrations. The painting cost the bank GH¢1,400.

Government has been asked to clarify to the public the status of the proposed sale of its 70 percent shares in VALCO to a consortium of International Aluminum Companies before going ahead to pass the Aluminum Authority and Integrated Industry Bill.

• Petrol to sell at GH¢3.69
• Premix pegged at GH¢1.98

FUEL prices have been reduced heavily for the first time since the international market prices of crude oil hit their lowest level in more than a year.

The performance of the cedi against the US dollar this year has recorded its worst rate of depreciation in eight years. From the beginning of the year to mid-last week, December 3, 2008, the cedi depreciated against the US dollar by 22.17 percent, the highest rate of depreciation since it recorded a depreciation of 49.90 percent in December 2000.

Unique Trust (UT) Financial Services, a non-banking institution, has announced plans to introduce new products in insurance and real estates development.

The Institute of Economic Affairs (IEA) has described as inaccurate claims by the ruling new Patriotic Party that the size of the Ghanaian economy has quadrupled over the last eight years.

Lack of a comprehensive national corporate governance code is affecting delivery in both the public and private sectors, Mrs Marian Barnor, the Managing Consultant of MRB Consult said on Wednesday.

The export volume of Ghana is expected to fall in 2009 following the ongoing economic recession that has hit the world’s major economies, Private Enterprise Foundation (PEF) has predicted.

Customs, Excise and Preventive Service (CEPS) in Brong-Ahafo, on Wednesday destroyed 2,192 cartons of assorted smuggled cigarettes in the country with a street value of GH¢7,233.6.

A sheanut processing factory estimated at GH¢88,000 has commenced operation at Kuga in the Yendi municipality of the Northern Region.

THE BAWKU East Small-Scale Farmers Rural Bank bagged about GH¢103,800 in the last financial year, representing an 83.5 per cent increase compared to 2006.

OIL prices have fallen below $50 a barrel for the first time since May 2005 amid fears of a recession and expectations that demand will drop.

To withstand competition
THE Managing Director of the ARB Apex Bank Limited, Mr. Eric Osei-Bonsu, has asked rural and community banks to consider co-operative mergers to enable them to withstand the intense competition in the banking industry which threatens their survival.

Professor Ade Adefuye, Adviser to Economic Community of West African States (ECOWAS) on politics and governance on Sunday said bad governance, blatant corruption, nepotism and disregard for the principles of democracy are responsible for the present economic woes on the African continent.

Government has released 2.25 million dollars to enable the official liquidator of Ghana Airways to pay former employees of the airline the final instalment of their severance claims.