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Pulse business wrap We will not privatize Tema Oil Refinery- Edward Bawa

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We will not privatize Tema Oil Refinery- Edward Bawa

The Petroleum Ministry has kicked against calls by Civil Society Organisations for  government to give up controlling stake in state- owned oil companies.

The Ministry's position comes after  Dr. Steven Manteaw  called on government to sell its stake in the Tema Oil Refinery and other state- owned institutions.

According to Dr. Manteaw, the biggest bane of TOR is the unbridled political interference in its operations by government.

 

Global food prices hit 7-year low

Global food prices tumbled to a 7-year record low with sugar and dairy products registering the steepest declines, according to the latest data compiled by the UN's Food and Agricultural Organisation (FAO).

The Food Price Index averaged 150.4 points in January, down 16 percent from a year earlier and registering its lowest level since April 2009.

Slow economy growth, strong dollar, ample supply and sluggish demand are the main underlying reasons accounting for the decline.

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.88                            4.08

Pound Sterling             5.53                             5.83

Euro                             4.30                             4.60

 

To updates from the stock exchange today

Ghana Commercial Bank Limited were the  biggest gainers of the day, gaining 1p to close at 3.70p, Whereas UT Bank Limited recorded the biggest loss dropping 1p to close at 0.12p

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