The Bank of Ghana (BoG) has cut its policy rate by 150 basis points from 22.5 per cent to 21 per cent due to the downward trend in consumer inflation.
Before Monday’s cut, the central bank had cut the rate … Read the rest
GCB Bank Limited has begun overtures to takeover state-owned lender, the National Investment Bank (NIB), in what could create the biggest bank in the country in asset terms.
A successful consummation of the deal could potentially create an enlarged GCB … Read the rest
Online retail giant Amazon.com Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart.
Amazon confirmed winning government … Read the rest
Chinese shipping giant Cosco is set to buy its Hong Kong rival OOIL for $6.3bn (£4.9bn).
The deal would make Cosco the world’s third biggest shipping company, with more than 400 vessels.
OOIL’s majority owner has accepted the bid, though
Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and ample supplies from producer club OPEC.
Brent crude futures, the … Read the rest