Fly540, one of the four domestic airlines in the country, has suspended its operations due to a realignment of the company’s operations on the continent. The airline has written to the Ghana Civil Aviation Authority (GCAA) informing it of its decision to suspend its operations. The Director-General of the Ghana Civil Aviation Authority, Air Commodore (rtd.) Kwame Mamphey confirmed this to thebftonline on Friday. “What they have told us is that they are suspending their operations for a while,”

Microsoft has announced new TV white space partnerships and projects including its newest partnership with SpectraLink Wireless and Facebook to provide low-cost wireless connectivity to tertiary institutions in Koforidua. The partnership will see the deployment of wireless networks covering entire campuses at All Nations University College and Koforidua Polytechnic. The IT giants announced this at this year’s Dynamic Spectrum Alliance Global Summit in Accra. The pilot, which is part of Microsoft’s

International airlines operating in the country, despite the challenging economic conditions, are recording relatively good passenger numbers on most routes, with airline managers maintaining an outlook of optimism that is scarce in other industries. Though high inflation, taxes and rising cost of living have dampened the value of disposable incomes, growing commercial activities with Europe, Asia and the Middle East is driving traffic to and from Accra. The passenger load factor – a measure

Annual consumer-price inflation surged to 14.7 percent in April, the highest level in more than four years, according to official data which go to stress the tough cost-of-living conditions households have been facing. The surge, from 14.5 percent in March and under-14 percent in January, will add to frustration over severe economic hardships -- underlined by a currency that has weakened this year at the fastest rate in 14 years. The latest Consumer Price Index (CPI) reading means a basket of goods

General Motors has announced the recall of a further 2.7 million vehicles, most of which have brake light defects. The recall, which affects a number of different models, will cost about $200m (£120m; 146m euros), the carmaker said. Last month, the company revealed it had taken a $1.3bn hit to cover the cost of recalling about 2.6 million cars with defective ignition switches. The carmaker said the latest recall was due to a greater emphasis on safety following the ignition problems. "We have

Deutsche Bank has sold the lossmaking Cosmopolitan of Las Vegas casino and resort to private equity giant Blackstone for $1.7bn (£1bn) in cash. The Cosmopolitan, a two-tower complex located on the Las Vegas Strip, cost more than $4bn to build but has not made a profit since it opened in 2010. Deutsche took over the property after its developer defaulted on a loan. But Germany's largest bank said it moved to sell the development because it was not central to its business. "The bank is committed

Indian stocks have rallied to a record after early vote counting showed opposition leader Narenda Modi to be leading the election polls. The benchmark Sensex index jumped more than 4% to reach 24,956 at the open of trade on Friday, surpassing its previous high. The broader NSE share index also rose 2.1% to hit a record. India's currency, the rupee, gained in value to reach a nearly 10-month high against the US dollar. The world's most populous democracy is set to release its election results

The Metro Mass Transit (MMT) Company has set a revenue target of GH₵154million from its operations this year as it launches its five-year strategic plan and ICT-based fuel and vehicle tracking system in Accra. Last year, the company’s revenue reached GH₵123million culminating in a net profit of GH₵9.2million. According to the company’s financial projections outlined in the strategic plan, it expects an 8.6% increase in net profit after tax margin for this year over the figure recorded

The Republic Bank of Trinidad & Tobago has expressed its commitment to the rules and regulations governing doing business in the country, as the bank awaits shareholders’ decision on its mandatory offer to take over HFC Bank. The General Manager, Group Marketing and Communications of Republic Bank, Michelle Palmer-Keizer noted in a statement released yesterday from Port of Spain, Trinidad, that the Caribbean-based bank is concerned about some of the actions of the Board of Directors of HFC

The Finance Ministry has moved to issue clarity on why government intends paying only three months of arrears it owes public sector workers, irrespective of number of months owed them. A statement issued by the Ministry of Finance said, as part of measures to improve and control the management of the payroll and ensure only deserving staff are paid, a directive stipulating how arrears should be paid was issued to all Ministries, Departments and Agencies (MDAs) in November 2013. The policy directive,

The junior and senior staff unions of the Ghana Ports and Harbours Authority (GPHA) have said they are not against the Atuabo Port project, as is being “misunderstood” in the public sphere. The project, they said, is important and needs to come about – it’s only that they do not want the GPHA to be left out. “The unions are not against the development of Atuabo free port as earlier misunderstood, and this we wish to make explicit to the people of this country,” a resolution reached by