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Scrap VAT on imported drugs – Pharmacy Chamber

Source: classfmonline.com The Chamber of Pharmacy Ghana has renewed its campaign to get government to scrap Value Added Tax (VAT) on imported medicines. According to the chamber, previous attempts to get the charges removed only yielded a 10 percent reduction in import duty. Speaking to Class Business on the sidelines of a sensitisation programme by the chamber, the Chairman of ...

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Michael Phelps Could Owe Uncle Sam $55,000 for His Rio Olympic Wins

Source: time.com/money Winning a gold will cost you. Award-winning swimmer Michael Phelps may be racking up medals in his country’s name at the summer Olympics, but that doesn’t mean Uncle Sam won’t demand a cut of his prize money. Phelps’ current income tax bill for winning five gold and one silver medal at the Rio Olympics? Up to about $55,000. ...

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The Bead Man of Ghana

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Macy’s is closing another 100 stores

Another 100 struggling Macy’s stores are disappearing. Macy’s (M) announced plans on Thursday to close about 15% of its department stores, the latest effort to adapt to shifting consumer preferences for shopping online at Amazon (AMZN, Tech30)and elsewhere. Macy’s did not disclose which stores it will close, but said most of them will be shut down in early 2017. The move comes as Macy’s revealed ...

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New $953M power deal not an emergency solution – Jinapor

Source: citifmonline.com The Deputy Minister of Power, John Jinapor, has defended the proposed 25-years power deal with two-year old company, Early Power Limited, that will see the construction, fueling and maintenance of a 400 megawatts power plant. Speaking on Eyewitness News, Mr. Jinapor also stressed that, the deal, estimated to cost US$ 953 million, should not be seen as an ...

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Weaker dollar lifts oil prices

Oil prices rebounded from over three-month lows on Tuesday, lifted by a drop in the dollar, but concerns of ongoing oversupply weighed on markets and many traders are raising their bets on further price falls. International Brent crude oil futures LCOc1 were trading at $44.89 per barrel at 0658 GMT, up 17 cents from their last close. U.S. West Texas ...

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Coca Cola Beverages Africa debuts services in Ghana

SABMiller Inc has partnered with Coca Cola and Gutsche Family Investment to set up Coca Cola Beverages Africa, CCBA, which will manufacture and sell 40 still and sparkling brands from more than 30 African bottling plants, including Ghana. The new company headquartered in South Africa will produce and distribute approximately 40 per cent of all Coca-Cola beverage volumes in Africa ...

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PIAC uncovers misuse of oil revenue in northern Ghana

Source: citifmonline.com Managers of the nation’s oil revenue should rethink about the mode of selection and funding of projects with the oil income. They also have to intensify their monitoring and supervision of all oil revenue funded projects spread across the country. It is mind-boggling discovering that oil revenue meant for funding some earmarked projects has either been misused or ...

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