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Pulse Business Wrap- 50% pay rise not possible, labour minister tells organised labour

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Govt's 500m Cedi- domestic bond under-subscribed

The three-year 500 million Ghana Cedi -domestic bond issued by the Bank of Ghana on Thursday January 7 on behalf of government has been under- subscribed.

While government wanted a total of 500 million Ghana Cedis, it was able to raise only 426 million Ghana Cedis by the end of the issuance of the bond in total offers out of which it took   373 million Ghana Cedis at an interest of 24.75 percent.

50% pay rise not possible, labour minister tells organised labour

The Labour Minister Haruna Iddrisu has told Journalists in Accra that the 50% pay rise demanded by organised labour is not only "difficult but impossible."

After a series of sweeping increases in taxes, utilities, and levies came into force this year, organised labour has been on the neck of government to increase salaries by 50%  but the labour minister say it is impossible

Finally to our market updates for today starting from the currency market,

Currency                Buying                       Selling

Dollar                        3.79                             3. 90  

Pound Sterling          5.55                              5.60  

Euro                         4.07                              4.40

 

To  the biggest gainers and losers on the Ghana Stock Exchange,

Aluworks Limited recorded the biggest gain on Thursday, recorded the biggest loss today , dropping 1 Pesewa on its share price closing at 11p, whiles Benso Oil Palm Plantation recording the biggest gain of  all, gaining 2 Pesewas on its share price for today, closing at  2. 50p.

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