Pulse Business Wrap Gov’t grants Goldfields $33million tax exemptions

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Gov’t grants Goldfields $33million tax exemptions

The Government has finally granted a stability agreement to Goldfields Ghana Limited, after series of meetings and negotiations.

The mining company has been reeling under revenue shortfalls in recent years, leading to massive layoffs and downsizing of operations in the country.

Under the stability agreement which spans 10 years, government has granted tax concessions and incentives to Goldfields to the tune of $33 million in their two (Damang and Tarkwah) mines currently operational in the country.

Producer Inflation on ex-factory prices drops

The Producer Price Inflation (PPI) for ex-factory prices of goods and services for the month of February has dropped has dropped from 16.9 per cent in January 2016 to 14.5 per cent.

The reduction represents a decrease of 2.4 per cent over the period under review.

However, there was no change in producer price index between the months of January and February 2016. 

 

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.83                             4.13

Pound Sterling             5.42                              5.72

Euro                             4.28                            4.58

On how your stocks performed on the GSE Index today

Ghana Commercial Bank Limited were the biggest losers of the day, losing 3p to close at 3.65p.... There were no gainers for the day.Gov’t grants Goldfields $33million tax exemptions

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