JAN 2012 JA Template

You are here: Home News

Studio line: 0031 70 7370507


Studio line: 0031 70 7370507


News (3311)

Children categories


Africa (5)

Sample ImageMauris Lorem Donec risus consectetuer quis justo In iaculis wisi vitae. Congue nec a interdum.

View items...

Europe (6)

Sample ImageMauris Lorem Donec risus consectetuer quis justo In iaculis wisi vitae. Congue nec a interdum.

View items...

Fashion (9)

Sample ImageMauris Lorem Donec risus consectetuer quis justo In iaculis wisi vitae. Congue nec a interdum.

View items...
Thursday, 21 July 2016 12:18

Voters angry with EC




There is uneasy calm at some exhibition centres in the Eastern Region as some aggrieved voters have accused the Electoral Commission (EC) of wrongly deleting their names from the voter register, although they claim they did not register with the National Health Insurance Scheme (NHIS) card.

Wednesday, 13 July 2016 14:29

I’ve eliminated 'Kufuor gallons' - Mahama




President John Dramani Mahama has celebrated as a remarkable achievement of his government the elimination of water storage containers, popularly known as “Kufuor gallons”, in the national capital.





The 2016 presidential candidate of the New Patriotic Party, Nana Addo Dankwa Akufo-Addo, says Ghana has been robbed of massive development because of the brazen theft of public resources and widespread cases of corruption under the watch of President Mahama.

Wednesday, 13 July 2016 14:14

I Want NPP’s Victory In 2016 – Kufuor




FORMER PRESIDENT John Agyekum Kufuor has stated that his heart’s desire is to see his beloved New Patriotic Party (NPP) emerge victorious in the upcoming presidential and parliamentary elections.




Ghana now has the highest percentage of access to potable water in West Africa as a result of the investments made so far in both rural and water expansion projects, President John Dramani Mahama has said.




New Patriotic Party (NPP) Member of Parliament for Akuapem South constituency, O.B Amoah has cast doubts over a possibility of the 2016 general elections coming off as scheduled on November 7.

He believes the EC has not taken the necessary steps including producing a credible register in time to ensure that the elections are held on the proposed date.

“We don’t have a certified register and we have three months to go into the election. We should have finished some of the processes by September. I can assure you on the floor that I will not vouch for November, ” O.B Amoah stated on Eyewitness News.

Submit new timetable to Parliament
O.B Amoah further tasked the Commission to submit a new timetable to Parliament for the conduct of the November 7 elections.

This, he believes will assure the House that the Commission is ready to conduct elections on November 7 instead of December 7.

“If you want to hold your election on November 7, give us up to date calendar for us to know that even if the date has shifted we can still meet the deadline.”
He was however quick to remind the EC to consider the law in producing a new calendar.

“They [EC] are promising that by tomorrow they will produce the calendar but we also need to look at the law. For instance when it comes to proxy voting, special voting, transfer of votes, we should be able to do it 42 days before the elections. When it comes to continuous registration, if you register less than 60 days before elections, your name will be on the register but you can’t vote…”

Source: citifmonline.com / Marian Ansah







Anti-corruption crusader, Vitus Azeem, is calling for further investigations to unravel the truth in the claim by former President Jerry John Rawlings, that he received $2 million from the late Nigerian President, Sani Abacha.




A former Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC), Mr Tsatsu Tsikata, who was jailed for wilfully causing financial loss to the state, has filed a case at the Court of Appeal challenging his sentence.




Volta River Authority (VRA) CEO, Isaac Kirk Koffi, has said it is better to have a country with unemployed graduates than to have unemployed illiterates.




The 2015 PIAC report revealed that crude oil lifted from the Saltpond Oil field was sold at 50 dollars per barrel, higher than the price quoted by one of the Jubilee partners, Anadarko which sold a barrel of crude for 44 dollars.

According to GHEITI, the low quality of crude from Saltpond should not have been affected by declining global prices as was faced by the partners of the Jubilee fields.

Some have attributed the issue to perhaps a poor hedging policy by Anadarko but the Co-Chair of the Ghana Extractive Industries Transparency Initiative, Dr. Steve Manteaw tells Citi Business News an investigation will prevent Ghana from being shortchanged in corporate taxes.

According to him, the development will also mean that Saltpond Oilfields’ profits declined hence a reduction in corporate income tax for 2015.

“The explanation that I have obtained from the revenue authorities is that it could be that Anadarko hedged badly for its crude and that is why it is reporting very low prices. But I think it makes sense for the revenue authorities to investigate and establish that nothing untoward is happening in terms of the trading of our Jubilee crude by our IOCs,” he said.

Dr. Manteaw added, “This is necessary because if any IOC operating in Ghana reports lower than market prices, then it reduces its profit margins and therefore reduces its corporate taxes payable to the government of Ghana,” he said.

The concerns of the GHEITI come on the back of renewed calls by civil societies in the oil and gas sector including the Natural Resource Governance Institute (NRGI).

The NRGI for instance wants the Ministry of Finance and the GRA to review Ghana’s legislations on the transfer pricing regime which it contends is causing the country to lose millions of revenue over lack of compliance by some of the International Oil Companies (IOCs).

Transfer pricing

Transfer pricing is a mechanism by which prices are chosen to value transactions between related legal entities within the same multinational enterprise.

Transactions may include controlled or intra-group transactions and may include the purchase or sale of goods or intangible assets, the provision of services, financing, cost allocation and cost sharing agreements.

But the system is said to be abused when enterprises inflate prices compared to the ordinary market prices otherwise referred to as arm.

This subsequently reduces their corporate tax obligations.

Jubilee partners are quoting market prices for oil

Dr. Manteaw believes that the prices quoted by the Jubilee partners as selling prices are competitive with the exception of perhaps Anadarko, due to its price hedging policy that made it receive 44 dollars for a barrel of oil.
According to PIAC, Tullow received an achieved price of 67 dollars a barrel; Kosmos 52.32 dollars a barrel while GNPC and Anadarko each received 52.36 and 44.42 percent respectively.

Source: citibusinessnews.com / Pius Amihere Eduku




Page 8 of 237