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January 7, 2017
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News Feed: 07/02/2017

Canada to inject $120M in Government’s  ‘planting for food & jobs’ programme  

The Canadian government is set to inject a total of 120m dollars (125 million Canadian Dollars) into the Planting For Food and Jobs initiative being spearheaded by the Ministry of Food and Agriculture.

Agreement for the release of the grant has consequently been signed by the Finance Minister, Ken Ofori-Atta on behalf of Ghana

Telecoms value added service providers demand clear policies from NCA

As Joseph Anokye takes over as the new Acting Director-General of National Communications Authority (NCA), mobile value added service (VAS) providers in the country say they still do not have clarity on their place in the telecoms ecosystem.

This is the case, according to them, even though NCA has licensed them and takes various fees from them.

“We do not even know what the clear regulatory guidelines for VAS are and yet they (NCA) have licensed us,” Director of Communication and Regulatory Affairs for Wireless Applications Services Providers Association of Ghana (WASPAG), Conrad Nyuur told Adom News.

 

Govt will push for changes in IMF conditions- Ken Ofori Atta

As a team of International Monetary Fund (IMF) staff prepares to meet government’s Economic Team this week, Finance Minister Ken Ofori Atta has hinted that high on the agenda will be the need to change some conditions to meet the new government’s fiscal policies.

According to him, it is imperative for such adjustments since it will guarantee economic development under the Nana Akufo administration.

Speaking to some journalists, Mr. Ofori Atta was of the view that the meeting will produce a good result since this is the first time such a programme has spanned over two governments.

BoG In GH4.7bn Dodgy Contract

 

The Bank of Ghana (BoG) has awarded a multi-billion-cedi contract to Sibton Switch System Limited to implement a retail payment system infrastructure in Ghana.

The contract, which is seen by many industry experts as unnecessary and shady, will see Sibton Switch System Limited – a company formed only in August 2015 – run a system to make banks, mobile money platforms and other payment systems interoperable.

Initial figure sighted by Daily Guide as the cost submitted by Sibton to the Bank of Ghana (BoG) for the implementation of the retail payment system was GH4,677,414,340.82.

GLOBAL NEWS

TV maker unlawfully tracked viewing habits

TV maker Vizio has agreed to pay out $2.2m in order to settle allegations it unlawfully collected viewing data on its customers.

The US Federal Trade Commission said the company’s smart TV technology had captured data on what was being viewed on screen and transmitted it to the firm’s servers.

The data was sold to third parties, the FTC said.
Vizio has said the data sent could not be matched up to individuals.

 

Thirty more tech firms oppose Trump ban

Thirty more US technology firms have signed a brief opposing President Trump’s immigration ban, bringing the total number involved to 127.

The new signatories include Tesla, Adobe, HP and Evernote.

They join 97 others who have filed a legal document stating the ban “inflicts significant harm” on their businesses and is unconstitutional.

The amicus brief allows parties not directly involved in a case but who feel affected by it, to give a view.

 

French ex-President Sarkozy ‘to face trial’ over campaign finance case

French ex-President Nicolas Sarkozy is to stand trial in an illegal campaign finance case, judicial sources say.

Mr Sarkozy faces accusations that his party falsified accounts in order to hide 18m euros (£15m; $20m) of campaign spending in 2012.

Mr Sarkozy has repeatedly denied that he was aware of the overspending.

He lost the 2012 race to Francois Hollande, and failed in his bid to run again in this year’s upcoming presidential election.

 

GLOBAL MARKETS

Appetite for Asian stocks and the euro evaporated on Tuesday as economic and political fears sent investors seeking shelter in the yen, while forecasts China’s foreign exchange reserves has fallen for a seventh month added to jitters.

WORLD OIL PRICES

Oil firmed on Tuesday after falls the previous session, with markets torn between mixed price indicators that have kept crude range-bound for much of the year.

EMERGING MARKETS

SOUTH AFRICA MARKETS

South Africa’s rand retreated on Monday, pausing a four session rally as some investors cashed in on recent gains and the dollar regained some ground after being hit by a poor wages report last week.

NIGERIA MARKETS

The naira dropped to a record low of 500 to the dollar on the black market on Monday, even though Nigeria’s foreign reserves rose to their highest in a year, as demand for the U.S. currency grew and the central bank rationed dollar supply, traders said.

IVORY COAST COCOA

Cocoa arrivals at ports in top grower Ivory Coast reached about 1,143,000 tonnes by Feb. 5, since the start of the season on Oct. 1, exporters estimated on Monday, up from 1,142,000 tonnes in the same period of the previous season.

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