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Partners in Ghana's Jubilee offshore oilfield, operated by Tullow Oil, have bought a Floating Production Storage and Offloading (FPSO) vessel from Tokyo-listed Modec, Ghana's state oil company GNPC said on Friday.

Sources close to the deal said it valued the "Kwame Nkrumah" vessel, which was leased to the Jubilee partners for its first year of operation, at $750 million.

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The world has experienced phenomenal growth of financial services over the last couple of decades. This globalization has led to increased cross-border activities enhancing global financial intermediation. Unfortunately, this development has been accompanied by a spate of transnational organized crime including Money Laundering and Terrorist Financing (ML/TF) perpetuated by underground economies.

Money Laundering and Terrorist Financing affect whole economies, and therefore impacts negatively on economic, political and social development, posing serious challenges to all countries.

Click here for full Report

President Mills returned from New York on New Year’s Eve to say that his Christmas trip was so successful that he had “killed two birds with one stone.” He didn’t exactly manage Zita Okaikoi’s feat of “killing two stones with one bird” on her trip to New York, where she had a baby and attended to some tourism duties. Our President, essentially, took an early holiday in New York in order to work during the Christmas break in New York. Bless him!

Koku Anyidoho, reportedly, briefed journalists at the Kotoka International Airport on Christmas Eve, the day of Mills’ surprise departure, saying that the President was returning to America, a week after his last trip there, to follow-up with some US investors he met at the New York Stock Exchange (NYSE).

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It is a great pleasure to welcome you to the launch of guidelines on Anti-Money Laundering and the Combating of the Financing of Terrorism (AML/CFT) for our Banks and Non-Bank Financial Institutions. This document has been jointly prepared by the Bank of Ghana and the Financial Intelligence Centre.

This event follows on the launch of AML/CFT guidelines for capital market operators by the Securities and Exchange Commission on 20th December 2011.

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Other Stories

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The purpose of this statement following immediately after my opinion of 28th May 2012 stating that the President’s executive judgment in the matter of the Supreme Court decision in the case of Okudzeto Ablakwa and Omane-Boamah against the Attorney-General (Jake Obetsebi-Lampety voluntarily applied and was joined as additional Defendant) is to answer the accusations and spins on why I am not directing my criticisms in-house to the Government or the NDC. The Government spin since I left office has been that I am a disgruntled smokescreen being used by the NPP against the Government.
NPP CONDEMNS NDC PLAN FOR ‘CIVIL WAR’ -If Supreme Court Declares Akufo-Addo President
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Dzi Wo Fie Asem: Rhetoric and the Politics of Expediency
On 7th January 2011, His Excellency the President, in a face to face encounter with the media, used a proverb that has now become a household expression: Dzi wo fie asem. The incident could be considered as only a trigger for this evening’s talk, which centers on the character of political rhetoric within Ghana’s contemporary history. There appears to be a growing sensitivity to political communication in this country: specifically the norms of communication, or standards of propriety in speech comportment. There is a collective realization that the spoken word may have done a lot to shape our political fortunes. Throughout our contemporary history, the spoken word has been so important in our political life, that not only is free speech enshrined in the constitution; care has also been taken to integrate speaking regulations within governance forums, from parliamentary discourse, through discourse in the law courts, to executive discourse at cabinet meetings, and to presidential discourses of engagement
Nigeria's Ascendant Oil Industry Faces Host of Pitfalls
Nigeria has decisively reclaimed the mantle of Africa's top oil producer, with rising output and crude prices spurring growth in the continent's most populous country. But the same industry driving the economy—oil—faces a host of challenges. In the next month, Nigeria's national assembly is expected to approve energy legislation that U.S. and European oil executives warn could curtail investment. The presidential election early next year may reignite fresh violence in the Niger Delta, the West African country's main oil region, where Royal Dutch Shell says its pipeline was attacked recently.
IMF July 2012 World Economic Outlook
In the past three months, the global recovery, which was not strong to start with, has shown signs of further weakness. Financial market and sovereign stress in the euro area periphery have ratcheted up, close to end-2011 levels. Growth in a number of major emerging market economies has been lower than forecast. Partly because of a somewhat better-than-expected first quarter, the revised baseline projections in this WEO Update suggest that these developments will only result in a minor setback to the global outlook, with global growth at 3.5 percent in 2012 and 3.9 percent in 2013, marginally lower than in the April 2012 World Economic Outlook. Click here for full report
Press Release: Monetary Policy Committee - September 2013
Members of the Press, let me once again welcome you to the press briefing on the MPC’s assessment of economic developments over the past eight months of the year, the outlook and the positioning of the policy rate.
Ghana loses $480m in oil revenue
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This election is about poverty, cost of living, unemployment and corruption
Let no one attempt to fool you. Don't be distracted by the frustrations of the Rawlingses; nor talk about electoral violence. Don't be tricked by any attempt to revive the debased debate on drugs, God-fearism, morality, arrogance, character. While these topics may make the election 'exciting', since none of the main candidates is a stranger to us, we should protect the political space from being hijacked by the apostles of diversionism.
Unexpected S. Korea's key interest rate raise endangers STX  deal loan terms
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