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Pulse business wrap TOR staff take 20% pay cut to get refinery back

The Refinery that has been unoperational for years, comes onboard to improve the supply of refined crude on the domestic market.

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TOR staff take 20% pay cut to get refinery back

President John Mahama has expressed gratitude to the staff of the Tema Oil Refinery for volunteering to take a 20% pay cut in order to facilitate the come back of TOR.

The Refinery that has been unoperational for years, comes onboard to improve the supply of refined crude on the domestic market.

ADB extends IPO closing date

In other news, The Agricultural Development Bank Limited has  extended the closing date of  its Initial Public Offering to the 24th of March 2016.

This was communicated to Pulse Business, after the Securities and Exhchange Commission granted the company an extendtion to the IPO which was supposed to ended on Thursday 26 February, 2016.

Shares can be bought at any ADB branch, any Standard Chartered Bank (“SCB”) branch, IC Securities (Ghana)

Limited or any Licensed Dealing Member (“LDM”) of the Ghana Stock Exchange (“GSE”).

 

UT Bank holds first ever SME clinic

UT Bank has held its first ever SME clinic at the Best Western Hotel in Accra.

The clinic ,held under the theme Funding Your Business- Strategies, Options and Considerations, brought together small business owners to discuss strategies towards improving their business.

Opening the clinic,the chief executive officer of the bank ,Mr.Stephen Antwi Asimeng outlined the role of SME’s in the Ghanaian economy .

"Research has proven that 70% of annual GDP is contributed  by SME’s.Collectively they contribute the largest share to the economy.UT Bank’s core area is SME.we have come to understand that SME's usually need a lot more than financing and that is why we have assembled the best SME minds to teach us how to unravel some of the problems."

 

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.90                            4.28

Pound Sterling             5.42                             5.70

Euro                             4.28                              4.58

 

On how your stocks performed on the GSE Index today,

Four companies dropped 1p each to close the day.

 They include Ghana Oil Company LimitedPZ CUSSONS GHANA LTDSAMBA FOODS LIMITEDTOTAL PETROLEUM GHANA LIMITED Ghana Commercial Bank Limited were the biggest gainers, gaining 1p to close at 3.72p

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