Vodafone Healthline doctor explains Thursday how kidney 12 January 2023 Issue No. 1 diseases are linked to A NEW THINKING high blood pressure It’s time we make systematic effort towards self-sufficiency—President Akufo-Addo Pg
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Windfall tax will worsen energy crisis By William Essuman Emmanuel Adu Sarfo
Senator Sheldon Whitehouse (D-RI) and Representative Ro Khanna (D-CA) have called for an energy windfall tax. In a written statement, Khanna said, “Senator Whitehouse and I have been calling for a windfall profit tax on Big Oil for months, and I’m thrilled to see President Biden publicly consider this approach.” Senator Elizabeth Warren has long supported this. In an earlier tweet, Warren said, “Big Oil’s first priority is to maximize profits. We can’t let them use Putin’s invasion as an excuse to pad their bottom line with war-fueled profits.”
flation rate has been far outstripped by profits, with many energy companies exceeding profits far above the inflation rate. The idea that windfall profits can fuel inflation has become a respectable view among central bankers like US Federal Reserve Vice Chair Lael Brainard and Isabel Schnabel, an executive board member of the European Central Bank. Nobel laureate economists like Paul Krugman have also acknowledged the link. The windfall tax targets energy companies lucky enough to benefit from something they were not expecting.
Whatever the politics or ethics, The rationale for a windfall tax is we should accept that enacting concurrent with inflation. The in- 2
Industry captains call for more intimacy with gov’t By Eugene Davis
More than 100 Ghanaian business leaders who converged at the McDan Business Forum in Accra have urged government to bolster its relationship with the private sector and develop comprehensive strategies to support them to grow. According to these leaders, for the Ghanaian economy to be in a strong position again, more
When leaders ignore the rules I could imagine the tears dropping down the cheek and the pain felt by the loved ones of Jeffrey K. Skilling; a 52-year-old man, who served as the CEO of Enron corporation from February to August 2001, as he was sentenced to 24 years in prison. Enron, an energy-trading company based in Houston, Texas had risen as high as number 7 in fortune magazine's list of top 500 US companies. In 2000, the company had employed 21,000 people and posted revenue of $111 billion. However, the next year, Enron’s stock price began ebbing. In fact, according to 3
report on This Day in History ( w w w . h i s t o ry.com/.amp/this-day-in-histor y / e n ron-files-for-bankruptcy), it dropped from $90.75 in August 2000 to $0.26 by closing on November 30, 2001. On December 2, 2001, after Dynegy, another energy company backed out of a planned $8.4 billion buy-out in late November, Enron filed for bankruptcy. By the end of the year, Enron’s collapse had cost investors billions of dollars, wiped out some 5,600 jobs and liquidated almost $2.1 billion in pension plans. The question is what could have led to the col-
inward investment, new green Enabling Ghanaian SMEs and industries and start-up busi- the private sector to be globally competitive through skills deness ventures are required. velopment was a critical focus SMEs are the engine of Africa’s point at the maiden McDan economy but quite a signifi- Business Forum held in Accra cant number of them are last Thursday. unable to sustain their operations. In Ghana, more than Speaking at the maiden McDan 85% of enterprises are SMEs Business Forum, the CEO of and these SMEs contribute to- McDan Group of Companies, wards 70% of the country’s Daniel McKorley stated that the gross domestic product, re- aim of the event was to assemsearch shows (ITC, 2016). 2
Industry leaders converge at 2022 Food Africa and Pacprocess MEA exhibition …over 25,000 individuals and 700 exhibitors in attendance
I could imagine the tears dropping down the cheek and the pain felt by the loved ones of Jeffrey K. Skilling; a 52-year-old man, who served as the CEO of Enron corporation from February to August 2001, as he was sentenced to 24 years in prison. Enron, an energy-trading company based in Houston, Texas had risen as high as number 7 in fortune magazine's list of top 500 US companies. In 2000, the company had employed 21,000 people and posted revenue of $111 billion. 3