BUSINESS NEWS | GHANA AND BEYOND 🌍 08/03/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 08/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 08/03/2019


🚩 Prices of Petrol and Diesel have gone up beyond 5 cedis at some fuel stations in the country. Checks at two of the major Oil Marketing Companies, Total and Shell showed a 24 pesewas increase of the prices of both Diesel and Petrol. Both are now selling at Gh¢5.18. GOIL on the other hand is yet to adjust its prices, petrol and Diesel are still selling at Gh¢4.94 pesewas. Other companies such as Allied are also yet to adjust its prices. The company is still selling Petrol and Diesel at Gh¢4.94

🚩 The Ghana Exim bank says it has instituted stringent application processes to reduce loan defaults. The bank was set up in 2016 to facilitate the country’s international trade by providing financial support to local companies especially SME’s. However, the Bank of Ghana’s Banking sector report for 2018 revealed that local private businesses are the worst culprits in repaying loans taken from banks resulting in high non-performing loans within the banking sector.

🚩 The first Express Bosch Car Service (EBCS) has been opened in Ghana to offer affordable yet quality car services to car owners. Bosch opened the centre with a special discounts on all services and on Bosch spare parts are to be provided on on Friday 22nd February, 2019. Speaking in an interview with the media, Rashid Sowah, Workshop Concept Manager at Bosch explained that the "innovative EBCS concept steers toward a fast fit concept focusing on services that answer to the market demand."

🚩 Taxify, the leading European on-demand transportation platform, is changing its name to Bolt and introducing a new logo. The update brings the brand identity in line with the company’s broader vision of transportation that has already expanded from ride-hailing, with cars and motorbikes, to scooter sharing. Speaking on why the company chose to make the change,Markus Villig, CEO and co-founder, Bolt said,“Taxify launched five years ago with a mission to make urban transportation more convenient and affordable. Our first product was a taxi dispatch solution that gave the company its original name.

🚩 The President of Ghana Union of Traders Association (GUTA), Dr Joseph Kwaku Obeng has said Ghana charges the highest amount of levies on goods imported into the country within the Sub-Saharan region. Dr Obeng said Ghanaian traders go to neighbouring West African countries to buy goods imported to those countries because it is cheaper than importing directly into Ghana. This he said has a major negative effect on the Ghanaian currency and economy of the country as a whole.

🚩 The latest twist in the race for the regional sports networks owned by Twenty-First Century Fox (FOX, FOXA) involves a stepped-up bid from rapper/actor Ice Cube, the New York Post reports. His Big3 league is reportedly teaming up with Macquarie, entrepreneur Carolyn Rafaelian and Centerbridge Partners on a bid to acquire the 21 nets that aren't YES Network (still expected to go to the New York Yankees). Disney (NYSE:DIS) must divest the RSNs to complete its $71B asset deal with Fox.

🚩 Samsung has denied reports that it's reviewing a potential acquisition of NXP Semiconductors (NASDAQ:NXPI). Reports that the Korean chipmaker was considering a bid of 50T won (about $44.3B) were pegged to a meeting between Samsung's strategic president and NXP's CEO, but Samsung (OTC:SSNLF) said a trip by Ahn Jung-hyun to the United States involved business negotiations with subsidiary Harman instead.


✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.2076 Sell 5.2128
GB£Gh¢ Buy 6.8194 Sell 6.8282
CAD$Gh¢ Buy 3.8768 Sell 3.8808
JP¥Gh¢ Buy 0.0467 Sell 0.0467
ZARGh¢ Buy 0.3614 Sell 0.3618
EU€Gh¢ Buy 5.8490 Sell 5.8556
CHN¥Gh¢ Buy 0.7758 Sell 0.7759
Gh¢CFA Buy 112.02 Sell 112.15
Gh¢NG₦ Buy 58.75 Sell 58.81
BITCOIN Trading Price $3,874.80 ▼$-16.37 ▼-0.36%
ETHEREUM Trading Price $135.45 ▼$-1.71 ▼-1.30%
RIPPLE Trading Price $0.31 ▼$-0.01 ▼-1.22%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
CAL +2.04% ➡️Gh¢1.00

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
SIC -11.11% ➡️Gh¢0.16
GCB -0.26% ➡️Gh¢3.80


〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%)

✳Policy Rate in Ghana ➡️ 16.00% (-5.88%)

¶ TREASURY BILLS RATE💸
91 - Day Discount Rate 14.1868% Interest Rate 14.7085%
182 - Day Discount Rate 14.0676% Interest Rate 15.1320%
364 - Day Discount Rate 15.2749% Interest Rate 18.0287%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 19.7500%
3 Year Bond Interest Rate 20.0000%
5 Year Bond Interest Rate 17.0000%
6 Year Bond Interest Rate 21.0000%
10 Year Bond Interest Rate 17.5000%

🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
TOTAL +33.82% ➡️Gh¢4.55
SOGEGH +20.00% ➡️Gh¢0.90
AYRTN +14.29% ➡️Gh¢0.08
ALW +12.50% ➡️Gh¢0.09
ACCESS +7.04% ➡️Gh¢3.80

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
RBGH -20.29% ➡️Gh¢0.55
GCB -17.39% ➡️Gh¢3.80
SIC -15.79% ➡️Gh¢0.16
MTNGH -8.86% ➡️Gh¢0.72
GOIL -7.05% ➡️Gh¢2.90

🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,473.23 -200.23 -0.78%
*S&P 500 🏦 2,748.93 -22.52 -0.81%
*Nasdaq Index📲💻  7,421.47 -84.45 -1.13%
* NYSE Composite Index 12,443.43 -94.57 -0.75%
*London FTSE 100 7,157.55 -38.45 -0.53%
*Germany DAX 11,517.80 -69.83 -0.60%
*Japan NIKKEI 225 21,025.56 -430.45 -2.01%
*Hong Kong HANG SENG  28,292.64 -486.81 -1.69%
* Shanghai Shenzhen 300 3,667.89 -140.96 -3.70%
*S&P/ASX 200 Index 6,203.76 -60.12 -0.96%
*Bloomsberg EU 500 251.48 -1.11 -0.44%
*FTSE/JSE South Africa Top40 49,665.55 -209.49 -0.42%
*Nairobi SE 20 Share 2,905.50 -4.24 -0.15%
*Nigeria SE Main-Board Index 32,049.73 -72.01 -0.22%
*GSE Composite Index 2480.56 0.60 (+0.02%)
*GSE Financial Index 2134.83 1.14 (+0.05%)


💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔼+0.37%
Dalex Vision 🔼+2.05%
EPAcK 🔼+3.24%
Omega Equity 🔼+2.71%
Republic Equity 🔼+1.95%
SEM All-Africa 🔼+9.76%
HeritageFund 🔻-0.45%
Legacy Trust 🔼+0.51%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+2.01%
CDH Balanced 🔼+2.06%
CM Fund 🔼+2.99%
EdiFund T2 🔼+2.68%
UMB Balanced 🔼+2.18%
Republic F Plan 🔼+1.83%
Kiddifund 🔼+0.70%

⚙FIXED INCOME FUNDS 🛡AY%
TTL IncomeHaven 🔼+19.50%
SEM MoneyPlus 🔼+14.95%
FirstFund 🔼+17.12%
EDC Fixed Income 🔼+17.12%
Republic Unit 🔼+10.83%
Galaxy Mfund 🔼+9.39%

⚙FIXED INCOME FUNDS 🛡YTD%
STANLIB Income 🔼+2.66%
SikaFund 🔼+1.60%
Omega Income 🔼+2.33%
EdiFund T1 🔼+2.15%
Mfund 🔼+2.14%


✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $65.77 -0.53 -0.80%
*Natural Gas 🏭 $/million BTUS $2.87 +0.01 +0.21%
*Gold 👑 $/troy ounce $1,293.40 +7.30 +0.57%
*Silver 💍 $/troy ounce $15.12 +0.08 +0.53%
*Corn 🌽 $/bushel $366.50 +1.25 +0.34%
*Cocoa 🍫 $/metric ton  $2,182.00 -63.00 -2.81%
*Coffee ☕ ¢/pound  $96.85 -1.85 -1.87%
*Sugar🎂 ¢/pound $12.14 -0.02 -0.16%

 
Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry
 
 

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