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☆ Ghana sanitation minister resigns over alleged stashed cash
▼ + stars: | 2023-07-22 | by ( ) www.reuters.com time to read: +2 min

ACCRA, July 22 (Reuters) - Ghana's sanitation minister resigned on Saturday over reports staff found and stole stashes of local and foreign money from her home, she said in a letter to the president in which she denied any wrongdoing. Cecilia Abena Dapaah made headlines on Friday after two former household staff appeared in court accused of stealing cash and personal belongings from the minister and her husband between July and October 2022. Prosecutors told the court that the accused bought houses and a vehicle with the stolen money and gave some of it to relatives. Dapaah was appointed minister of sanitation and water resources when Akufo-Addo took power in 2017 and retained when he was re-elected in 2021. Reporting by Christian Akorlie and Maxwell Akalaare Adombila Editing by Sofia Christensen and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Persons: Cecilia Abena Dapaah, Nana Akufo, ” Dapaah, Dapaah's, Dapaah, Addo, Christian Akorlie, Maxwell Akalaare, Sofia Christensen, Nick Macfie Organizations: Prosecutors, Thomson Locations: ACCRA

☆ Israel to recognise Moroccan sovereignty over W.Sahara soon -official
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

RABAT, June 8 (Reuters) - Israel will soon announce its support for Morocco's claim of sovereignty over the disputed Western Sahara region, Israeli parliament speaker Amir Ohana said on Thursday during a visit to Rabat. The Algerian-backed Polisario Front demands an independent state in Western Sahara. "I am fully aware of the importance of the recognition of the Moroccan Sahara ... Israel should move towards the goal of recognising the Moroccan Sahara just as our closest ally the U.S. did," Ohana told reporters after talks with his Moroccan counterpart. Reuters reported on Wednesday that Israel was considering backing Morocco on Western Sahara and that the issue was being discussed within the Israeli National Security Council (NSC). A diplomatic source told Reuters that Israeli recognition of Moroccan rule over Western Sahara could lead to a full upgrade of Israeli-Moroccan ties.

Persons: Amir Ohana, Donald Trump, Ohana, Benjamin, Netanyahu, Israel, Ahmed Eljechtimi, Mark Heinrich Our Organizations: Polisario Front, Moroccan, Reuters, Israeli National Security Council, . Security, Thomson Locations: RABAT, Israel, Sahara, Rabat, Algerian, Western Sahara, Moroccan, Moroccan Sahara, U.S, Morocco, Western, Polisario, Spain

ACCRA/LONDON, June 6 (Reuters) - Ghana has sent a debt restructuring proposal to its official creditors, two sources with direct knowledge of the matter said, as the West African country battles to escape its worst economic crisis in a generation. Ghana intends to finish restructuring its domestic debt before turning to negotiations with its official, bilateral creditors and international bondholders, a government official said. The total external debt stock was about $30 billion. Ghana completed a domestic debt exchange with 65% of holders of local bonds in February and is also seeking relief on the bulk of the remainder of its domestic debt, including deals with pension funds, labour unions and independent power producers. It is restructuring its debt under the Common Framework process, set up by the G20 in 2020 to bring China and other newer creditor nations into joint sovereign debt restructuring negotiations, for its external debt rework.

Persons: Maxwell Akalaare Adombila, Rachel Savage, Karin Strohecker, Nick Macfie Organizations: International Monetary Fund, Paris Club, Thomson Locations: ACCRA, LONDON, Ghana, West, China, Rosario

☆ Opinion | My Daughter Was So Alive. How Can She Now Be Gone?
▼ + stars: | 2023-05-19 | by ( Sarah Wildman | ) www.nytimes.com time to read: +2 min

Seeing old friends recently I joked, dry-eyed, about the wonder and terror of the first seven days of Jewish mourning — the shiva — being like a sort of cocktail party in hell. The night before, at a lovely restaurant, apropos of nothing at all, I started weeping into my food and ran to escape the table. I could see myself there, some 40 months earlier, talking to her teacher about the strange pain keeping my daughter from class. In the early days, her hurt was so raw we could just barely keep hold of her in its tumult. Hana worried that she was so angry with God that God would be angry with her.

In 2014, during a previous round of fighting between Israel and Palestinian militants in Gaza, the Bashir's home was also hit. "They destroyed our homes before and we rebuilt it, and this time we will rebuild it too," she added. According to officials from Hamas, the Islamist group that controls the Gaza Strip, the latest round of Israeli air strikes, which began on Tuesday, have destroyed 15 residential blocks, containing more than 50 apartments. "Prior to these strikes, the Israeli Defence Forces took every feasible measure to mitigate harm to civilians as much as possible," the Israeli military said. "We stress that the residential blocks destroyed by the occupation were inhabited by civilians.

☆ China's Hozon to produce EVs in Thailand for Southeast Asian market
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, May 6 (Reuters) - China's Hozon New Energy Automobile will make electric vehicles in Thailand for the Southeast Asian market, a Thai official said on Saturday, as it follows others in building facilities in the region's major auto production hub. Hozon signed an agreement with Thailand's Bangchan General Assembly this week to start production of its NETA V model, expected in 2024, Thai government spokesperson Tipanan Sirichana said in a statement. The EV maker launched its NETA V model in the Thai market last year and planned to start offering its NETA U and NETA S models in the near future, Tipanan said. (TSLA.O)Last month, a Thai official said China's Changan Auto (000625.SZ) would invest $285 million in a facility in Thailand. It has set a target that 30% of domestic auto production be EVs by 2030.

April 12 (Reuters) - A U.S. judge on Tuesday approved a $75 million settlement between Smithfield Foods Inc and a class of consumers who accused the pork producer of conspiring to restrict supply in order to keep prices artificially high. Pork consumers last year settled with Smithfield rival JBS SA for $20 million. The judge in a separate order on Tuesday awarded nearly $25 million in legal fees to the plaintiffs firms representing the consumer class. The consumer class attorneys said in a court filing in January that they'd spent more than 37,000 hours pursuing antitrust claims over four years. The case is In re Pork Antitrust Litigation, U.S. District Court, District of Minnesota, No.

☆ Investors are watching guidance this earnings season, but might not like what they see
▼ + stars: | 2023-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Corporate guidance statements will be front and center as earnings season kicks off, with investors trying to gauge the economy’s temperature. Analysts forecast that first-quarter earnings for companies in the S&P 500 will fall 6.8% from the same period the previous year, according to FactSet. “We all expect earnings to be less than stellar,” says Shana Sissel, chief executive officer at Banríon Capital Management. Earnings season for banks starts on Friday with JPMorgan Chase, Wells Fargo, BlackRock, Citigroup and PNC Financial Services slated to report before the bell. Still, earnings are just one factor driving markets, and inflation remains a key concern for the Fed.

Nestle (NESN.S) and Hershey (HSY.N) said they paid the LID premium. But when the COVID pandemic cratered demand, global cocoa prices plunged before they built up a cushion. Ivory Coast and Ghana say companies should pay both premiums. Industry data from the International Cocoa Organisation (ICCO) shows cocoa output in Ivory Coast rose to record levels in the 2020/21 season. Of the roughly 2 million tonnes of cocoa Ivory Coast produces each year, between 20-30% is grown illegally in protected forests by an estimated 1.3 million people, many of them children.

Feb 28 (Reuters) - A panel of outside advisers to the U.S. health regulator on Tuesday recommended Pfizer Inc's (PFE.N) respiratory syncytial virus (RSV) vaccine, bringing it closer to becoming one of the first approved RSV shots for older adults in the United States. GSK (GSK.L), which is another forerunner in a crowded race to develop the first RSV vaccine, will face scrutiny from a panel of experts to the FDA on Wednesday. "The population where the vaccine is going to potentially have the biggest impact is less represented in this study," said Hana Sahly, one of the 12 FDA panelists. The FDA is scheduled to decide on the vaccines by May, and typically follows the recommendations of its independent panel of experts. Pfizer's vaccine was 66.7% effective in preventing RSV-related lower respiratory tract illness with over two symptoms, while GSK's vaccine was 82.6% effective in preventing lower respiratory tract disease in people aged 60 and over.

After Russia invaded Ukraine, the West formed what looked like an overwhelming global coalition: 141 countries supported a United Nations measure demanding that Russia unconditionally withdraw. South Korea Indonesia Israel Thailand Japan Saudi Arabia Philippines Afghanistan CambodiaBy contrast, Russia seemed isolated. Eritrea “Russian actions are being distorted” North Korea Russia Belarus Syria Eritrea “Russian actions are being distorted” North Korea Russia Belarus SyriaBut the West never won over as much of the world as it initially seemed. But like many other African countries, South Africa appears careful to balance its growing ties with Russia against maintaining a relationship with the West. Others that provided Ukraine with military support have declined to impose economic sanctions on Russia.

The case involves a group of consumers who contend Facebook exploited user data to maintain its market power. Representatives for Quinn Emanuel and Facebook declined to comment, and a spokesperson for Hagens Berman did not immediately respond to a message seeking comment. Scarlett in recent court filings said Quinn Emanuel was not respecting her view as a leading antitrust attorney based on her gender. Quinn Emanuel denied the claim, saying it has "worked very hard to be cooperative with all counsel on the case, including female counsel." Donato started the appointment process from scratch in January amid quarreling between Seattle-based plaintiffs' firm Hagens Berman and 900-lawyer Quinn Emanuel.

☆ Body of Ghana soccer player Atsu arrives home in Accra
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

[1/4] The body of late Ghanaian soccer player, Christian Atsu Twasam, 31, who died in the earthquake in Turkey, arrives at the Kotoka International Airport in Accra, Ghana. REUTERS/Francis KokorokoACCRA, Feb 20 (Reuters) - The body of Ghana winger Christian Atsu was flown home to Accra on Sunday evening, the day after he was found dead under a collapsed building in southern Turkey. Atsu had been missing since the Feb. 6 earthquake following the collapse of an apartment building in Hatay. "We hoped against hope, every day that passed, we prayed and prayed. "We would like to express our deepest condolences to his wife and children, the family, loved ones and the football community," the Ghana Football Association said on Saturday.

☆ Ghana says domestic debt swap closed with over 80% participation
▼ + stars: | 2023-02-14 | by ( Christian Akorlie | ) www.reuters.com time to read: +2 min

ACCRA, Feb 14 (Reuters) - The Ghanaian finance ministry said its domestic debt exchange programme (DDEP) had closed on Tuesday with more than 80% participation of eligible bonds, taking it a step closer to securing a $3 billion International Monetary Fund bailout. Ghana is fighting its way out of a generational economic crisis by hiking interest rates at record speed, cutting spending, and restructuring debt to secure IMF funds. "Attention will now turn to the eurobonds, where restructuring talks are at a much earlier stage, and which could be even more complicated," Culverhouse said. Ghana became early this year the fourth nation to apply to the common framework platform, an initiative of Group of 20 major economies launched in 2020 to streamline debt restructuring efforts for poorer countries. Its bilateral lenders are discussing the formation of an official creditor committee, a first step needed to engage in debt relief talks, sources told Reuters on Monday.

With a majority of S & P 500 companies having posted their quarterly results, investors' focus will turn toward inflation and the consumer price index reading in the upcoming week. The three major indexes are on pace to end the week down, with the S & P 500 poised to post its worst performance since December. Sharp declines for Alphabet , which is off by more than 9% this week, dragged the tech-heavy index. January's consumer price index With the latest Powell speech in the books, investors are now looking ahead to the consumer price index for insight into the pace of inflation. "Retail sales and CPI is really driven by the consumer, and a lot of eyes are on how the consumer doing," Bruno said.

☆ As demand for Covid vaccines falls, AstraZeneca lines up 'blockbuster' products for 2023
▼ + stars: | 2023-02-09 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

AstraZeneca has "blockbuster" projects in development that are set to make billions of dollars, according to its CFO. Demand for Covid-19 vaccines has dropped as the pandemic enters its fourth year, but AstraZeneca says it has "blockbuster" projects in development that are set to make billions of dollars. "We expect to start 30 phase three clinical trials this year, of which we expect to hopefully land more than 10 products that will be blockbuster products, or products that will hopefully achieve more than a billion in revenue," Chief Financial Officer Aradhana Sarin told CNBC's "Squawk Box Europe" Thursday. "Really it's the revenue growth on the top line but also the reinvestment in the business that continues to fuel innovation and continues to fuel long term growth," she added. The British-Swedish pharmaceutical company forecast growth in earnings and revenue for 2023 Thursday, with its underlying businesses helping the company to post $901 million in net profit for the fourth quarter.

☆ AstraZeneca hopes to trial products that make billions in revenue: CFO
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAstraZeneca hopes to trial 'blockbuster' products that will make over a billion in revenue: CFOAradhana Sarin, AstraZeneca's chief financial officer, discusses the company's growth plans and its pipeline of products.

☆ Ghana seeks Indian investment in oil and gas sector
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Companies Aker ASA FollowBENGALURU, India, Feb 8 (Reuters) - Ghana, which is struggling with its worst economic crisis in a generation, is seeking Indian investment in its oil and gas sector, William Owuraku Aidoo, its deputy minister of energy, said on Wednesday. "There are some opportunities in Ghana specially in the oil and gas front. We have some oil blocks available and we came here hoping to attract Indian investments," Aidoo told Reuters after a meeting with Indian oil minister Hardeep Singh Puri at India Energy Week. He said Ghana will award exploration licences through direct negotiations if Indian companies are interested. Apart from offering exploration opportunities, Ghana is also seeking Indian support to build refineries of about 300,000 barrels per day.

Part of the clash included a Hagens Berman partner accusing Quinn Emanuel of discounting her views based on her gender. Quinn Emanuel denied the allegation, calling it a "mystery." The two law firms on Friday night submitted their pitches to Donato about why he should appoint them solely rather than jointly to lead the consumer class. A representative from Hagens Berman did not immediately comment, and a Quinn Emanuel spokesperson declined to comment. Hagens Berman and Quinn Emanuel have been on opposite sides in other cases.

"I would like to call on all creditors to join the efforts as swiftly as possible," Christian Lindner said in a news conference with his Ghanaian counterpart Ken Ofori-Atta. In January, Reuters reported exclusively that Ghana had requested a bilateral debt restructuring under the Common Framework, a platform set up by the Group of 20 major economies during the COVID-19 pandemic to bring China and other newer creditor nations into existing debt relief processes. Western leaders have repeatedly criticised China for delaying developing country debt restructurings, which it disputes. "Germany is being true partners" in helping Ghana through the debt restructuring process in "an accelerated way," Ofori-Atta told reporters. "Ghana needs to return as fast as possible to the international financial markets.

☆ Brazil readies task force to expel miners from Yanomami lands, officials say
▼ + stars: | 2023-01-31 | by ( Anthony Boadle | ) www.reuters.com time to read: +3 min

[1/2] A village of indigenous Yanomami is seen during Brazil's environmental agency operation against illegal gold mining on indigenous land, in the heart of the Amazon rainforest, in Roraima state, Brazil April 18, 2016. REUTERS/Bruno Kelly/File PhotoBRASILIA, Jan 31 (Reuters) - Brazil is preparing a task force of armed forces, police and government agencies to expel illegal gold miners who invaded the Yanomami indigenous reservation, officials said on Tuesday. Defense Minister Jose Mucio said the military is needed to drive out the miners, who are well armed and have helicopters. Wapichana said the task force, as in past offensives against illegal miners, will involve the Federal Police, environmental protection agency Ibama, Funai and several ministries, as well as the military. Wapichana said the government will move against the organized crime and financial groups that supply and fund the illegal mining, and launder the gold.

☆ Ghana govt and capital market operators agree on domestic debt exchange terms
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

ACCRA, Jan 27 (Reuters) - Ghana's government and the Ghana Securities Industry Association (GSIA) have reached an understanding on the terms of participation by capital market operators in the country's domestic debt exchange (DDE) programme, they said on Friday. Under the new agreement, capital market operators will participate in the exchange programme on the same "improved terms" agreed with banks earlier this week. "GSIA believes this agreement is necessary to restore market normalcy and confidence in the economy," the statement said. Ghana needs around 80% of bondholders to sign up for the DDE program. Reporting by Cooper Inveen Writing by Sofia Christensen Editing by Louise Heavens, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Ghana's balance of payments deficit worsens to $3.64 billion
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

ACCRA, Jan 28 (Reuters) - Ghana's balance of payments further deteriorated to a deficit of $3.64 billion in December from a $3.4 billion deficit the previous quarter, central bank data showed on Saturday. The West African nation is facing an economic crisis that saw consumer inflation rise to 54.1% last month. The cedi currency has depreciated around 50% annually, and interest payments on government debt have swelled to between 70% and 100% of GDP. Recent balance of payments woes have been largely driven by a sharp reversal in capital flows, with Ghana's capital account deficit having worsened to $2.18 billion in December from $1.64 billion in September. At the same time last year, Ghana had a capital account surplus of more than $3.3 billion.

☆ Thailand to begin construction of $9 bln aviation city this year
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Jan 27 (Reuters) - Thailand will begin construction on the 290-billion baht ($8.82 billion) U-Tapao aviation city early this year, a government spokesperson said on Friday. The project will generate 15,600 additional jobs in the first five years and drive growth in Thailand's aviation industry, Tipanan Sirichana said in statement. The investment plan is slated to turn the Vietnam-war era U-Tapao airport into a new international airport linked up with a budget terminal, Don Muang airport, and the country's main Suvarnabhumi Airport. The project named "Eastern Aviation City" will also include a free trade zone for cargo, an aviation training centre and aircraft maintenance, repair and overhaul facilities, a government website shows. ($1 = 32.8800 baht)Reporting by Panarat Thepgumpanat, Writing by Chayut Setboonsarng; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ SAP to cut 3,000 jobs in efficiency move, explores Qualtrics stake sale
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 26 (Reuters) - SAP (SAPG.DE) on Thursday said it plans to cut 3,000 jobs, or 2.5% of its global staff, and to explore a sale of its remaining stake in Qualtrics to focus on strategic growth areas and operate more efficiently. With the planned job cuts, SAP joins other big tech companies including Microsoft and Amazon in turning to layoffs to cut costs. SAP reported a 30% revenue increase in its cloud business in the fourth quarter, helped by strong demand for its HANA software. Analysts are worried that the lucrative cloud segment for big tech companies could be hit hard as customers look to cut spending. SAP's operating profit grew 17% in the three months through December to 1.71 billion euros ($1.87 billion) on group revenue of 8.44 billion euros, it said.

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