GRi Business, Economics
& Finance 05 - 08 - 2003
Stock index continues to climb
Ghana, Germany to meet on double taxation
Inter-bank exchange rates of the cedi
Stock index continues to climb
Accra (Greater Accra) 5 August 2003 - The GSE-All Share Index, the key stock gauge of the Accra bourse, rose 10.31 points on Monday in a dull market that saw only 34,300 shares changing hands.
The market registered a high level of 2,061,900 in traded shares on Friday. In the broader market, there were three price changes. Produce Buying Company (PBC) gained ¢45 to close at ¢700, Ghana Commercial Bank was up ¢22 at ¢7,225 and SSB Bank went up ¢1 to close at ¢7,401.
Market capitalization was up at ¢9,338.81bn from ¢9,313.51bn at the last close. Change in the year now stands at 67.86 per cent.
The following are the last prices of listed equities in cedis:
ABL 460
AGC 28,650
ALW 4,000
BAT 1,924
CFAO 74
CPC 630
EIC 6,100
FML 2,917
GBL 552
GCB 7,225 +22
GGL 3,600
HFC 2,650
MGL 258
MLC 600
MOGL 24,000
PAF 750
PBC 700 +45
PZ 2,253
SCB 55,000
SPPC 390
SSB 7,401 +1
SWL 285
TBL 6,000
UNIL 7,605
CMLT 460
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Ghana, Germany to meet on double taxation
Accra (Greater Accra) 5 August 2003 - The Governments of Ghana and the Federal Republic of Germany begin two days of negotiations in Accra on Wednesday for an agreement on the Avoidance of Double Taxation in Income Taxes and on Capital.
The meeting aims at removing fiscal obstacles for mutual relations by jointly defining regulations on the taxation of Ghanaian-German companies, joint ventures and residents of the two countries.
A statement in Accra from the Embassy of the Federal Republic of Germany said
the Peter Linder, Ambassador of the Federal Republic of Germany to Ghana and Yaw
Osafo-Maafo, Minster for Finance would lead the German and Ghanaian delegations,
respectively.
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Inter-bank exchange rates of the cedi
Accra (Greater Accra) 5 August 2003
Currency Buying Selling
U.S. Dollar 8,605.00 8,774.00
Pound Sterling 13,892.77 14,170.89
Swiss Franc 6,335.63 6,458.04
Canadian Dollar 6,165.80 6,285.60
Danish Kroner 1,309.58 1,335.08
Japanese Yen 71.78 73.17
South African Rand 1,149.56 1,170.64
Euro 9,732.24 9,919.42
CFA Franc 14.84 15.12
Naira 68.48 69.83
ECOWAS WAUA 12,173.49
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