Mr. Urey, NOCAL Board chair receives ANADARKO documents from Min. Shannon
Liberia Searches for Oil
Published: 04 July, 2008
MONROVIA, The company which recently discovered oil in Ghana, ANADARKO, has joined two others, Mittal Investment SARL and Hong Kong Tongtai Petroleum International Corporation (HKTPIC) in a bid to lead the search for oil off the shores of Liberia.
CBL Licensed AccessBank and Guaranty Trust Bank
Published: 03 July, 2008
Dr. J. Mills Jones Executive Governor, CBL
MONROVIA, The Central Bank of Liberia (CBL) yesterday, Wednesday, July 2, 2008, granted provisional license to AccessBank Liberia Limited, The Microfinance Bank.
MONROVIA, What could be considered a major glitch to the smooth operation of government is in the offing as the National Legislature considers delaying the approval of the draft budget for the purpose of scrutinizing it. The lawmakers' action stemmed from what they are referring to as 'due diligence' to the draft national budget for 2008/09 before passing the act into law.
188 Housing Units Reconstructed and Rehabilitated
Published: 02 July, 2008
ArcelorMittal CEO Joseph Mathews Photo by A. M. Johnson
MONROVIA, The Chief Executive Officer (CEO) of ArcelorMittal Liberia, Mr. Joseph Mathews, has disclosed that his 1.5 billion-dollar company in Liberia has rehabilitated and reconstructed 91 housing units in Buchanan, Grand Bassa County, and 97 units in Yekepa, Nimba County.
Inflation Drives Economies In Shamble
Published: 27 June, 2008
Hikes in oil and food prices are driving many economies in floating position. Inflation rates are alarming. Governments are finding difficult times dealing with the problem. In Liberia, for example, inflation rate was 11% at the end of 2007 according to Central Bank of Liberia (CBL) annual report but skyrocketing fuel and food prices are said to be major underlining factors that could inflationary rate further higher. Transportation fare has increased, the price of the country's staple, rice has increased, and unemployment rate is high. More businesses are still lingering within the informal sector. Exchange rate remains stable though but at L$61 for US$1.
Dr. Sayeh: 'It is inappropriate to be taxing the poorest Liberians’
No Need Taxing Low Income Earners
Published: 25 June, 2008
MONROVIA, A proposed bill seeking to amend the Revenue Code 2000 and to provide for the removal of taxation on low-income earners in Liberia is in the offing.
A new banking institution in the country, the United Bank for Africa (UBA), has entered into an exclusive and strategic partnership deal with the English football giant, Arsenal Football Club.
Flashback: Morenike Adepoju, MD, Ecobank, launches ATM Banking in Liberia
Ecobank Joins Forces with World Computer Giant to Offer Investor Services
Published: 18 June, 2008
MONROVIA, Ecobank Group has announced the formation of joint venture with Computershare Limited, a global computer giant, to offer Investor Services across Africa.
The quest for private sector development by government would remain a mere dream if it continues to enforce 100 percent, the current tax code, the Revenue Code 2000.
MONROVIA, President Ellen Johnson Sirleaf yesterday signed into law 'an act ratifying the production sharing contract with addenda for offshore Liberia Blocks LB-8 and 9 signed between the Republic of Liberia represented by the National Oil Company of Liberia (NOCAL) and REGAL Liberia Limited and European Hydrocarbons Limited at the Ministry of Foreign Affairs.
The Management of the National Port Authority (NPA) has begun the removal of an abandoned vessel at the pier of the Freeport of Monrovia for fear that it might soon sink and hinder traffic at the port.
LRMMDA Frowns on Cross-border Mineral Trade
Published: 04 June, 2008
An executive of the Liberia Resource and Mineral Management Development Association Inc. (LRMMDA) has said the cross-border trade in diamond and gold from Liberia means nothing good for the country and therefore it must be abolished.
Scrap Dealers Want Ban Lifted
Published: 02 June, 2008
B>GRAND CAPE MOUNT COUNTY, The Scrap Dealers Association of Liberia has appealed to the Government to lift the ban on scraping activities in the country.
Ms. Bessy Gegbeh at her service point at Planet 44
Planet 44 Proprietor Lauds LBDI for Loan Program
Published: 30 May, 2008
The proprietor of Planet 44 Nightclub in Ganta, Nimba County, has lauded the Liberian Bank for Development and Investment (LBDI) for its continued loan program which has enabled most Liberians to do business and earn living for themselves, especially in rural Liberia.
ABOVE: Doreen McIntosh makes remarks at the launch while Brenda Dorleh looks on
BELOW: Remmy Bartee transacts business using her ATM card while Rachel Daobah explains how it works
Ecobank Launches ATM Card Campaign
Published: 28 May, 2008
MONROVIA, A massive public awareness campaign intended to educate customers of Ecobank to make wider use of their Automated Teller Machines (ATM) Card has been launched in Monrovia.
Remove Export Ban on Palm Oil
Published: 27 May, 2008
In the wake of the export ban on some commodities, a local entrepreneur Kebbeh Sumo is pleading with the Government, through President Ellen Johnson Sirleaf, to lift the ban on palm oil, to enable them export the product.
Liberian businessmen pose with Mr. Ciftci, squatting 2nd from left at his Tire Factory in Kocaeli
Liberian Businessmen Seek Trade Opportunity in Turkey
Published: 23 May, 2008
Businessmen from Liberia are making frantic contacts with manufacturing companies in Turkey for the purpose of establishing strong trade links between them and their Turkish counterparts.
African delegation celebrates trade ties with Turkey in Istanbul
Turkey Boosts Trade Links with Africa
Published: 23 May, 2008
TURKEY, The Third Turkey-Africa Trade Summit, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), has ended in Istanbul, Turkey, with participating countries stressing the need for increased Turkish-Africa trade link.
Deputy Minister Norkeh speaking at Fatih University
Turkish Companies to Invest in Liberia
Published: 22 May, 2008
TURKEY, Three leading manufacturing companies from the European-Asian country of Turkey have expressed interest to invest in Liberia, Deputy Commerce Minister, Dr. Frederick B. Norkeh told the Daily Observer in Istanbul, Turkey.
Ecobank Opens Technological Center in Ghana
Published: 21 May, 2008
The Management of Ecobank Group has disclosed the setting-up and subsequent opening of an international technological center in Accra, Ghana. The technological and share service center was opened last week to provide standardized and automated transaction processing on a 24/7 basis to all affiliates of the Ecobank Group.
Liberian Entrepreneur To Export Palm Oil
Published: 16 May, 2008
Mrs. Yamah D. Flomo
A Liberian entrepreneur, Mrs. Yamah D. Flomo, has disclosed that her agriculture entity, G&B.Y. Trading Corporation, will begin the exportation of palm oil to other countries soon.
LAGOS, NIGERIA, B'Safieddine Limited Corporation, an international oil millers, refiners, importers and exporters based in Lagos, the Federal Republic of Nigeria, has expressed interest in investing in Liberia's agro-industry.
Turkish-Africa Foreign Trade Confab Set for May 16, 2008
Published: 12 May, 2008
Rizanur Meral
African businessmen, ministers, senior bureaucrats and journalists will on May 16, 2008 gather at a colorful ceremony in the gulf state of Turkey to discuss pertinent business matters with their Turkish counterparts.
Increasing Global Oil Price, Traffic Regulation Ignite High Fares, Commodity Prices
Published: 09 May, 2008
The prices of gasoline and diesel fuel continue to go skyrocketing on the world market. Transportation fares have increased globally directly affecting the prices of basic commodities in the world.
LPRC to Build New Refinery Soon
Published: 06 May, 2008
Managing Director LPRC, Harry Greaves Jr.
MONROVIA, The Managing Director of the Liberia Petroleum Refinery Company (LPRC), Mr. Harry Greaves Jr., has disclosed that the company is making efforts to construct a new refinery in the country.
Businesses Get Relief: As New Regulations Come into Force
Published: 05 May, 2008
Mr. Wil Bako Freeman, Coordinator, LBBF
For far too long, business people went from one office place to another just to have their businesses formally registered. There were cumbersome procedures at strategy public entities directly responsible for the conduct of business registration.
Mr. Mitchell making point to Minister Norkeh and An array of business people including Minister Norkeh
Gov't, Business Community Brainstorm New Reforms
Published: 02 May, 2008
It was a cozy afternoon on Wednesday, April 30, 2008, and the venue was the conference room of the United Nations Children's Education Fund (UNICEF) in Mamba Point, Monrovia, when the Government of Liberia and the business community met to discuss the new reforms that had been effected to improve the investment climate in the country.
MONROVIA, The United States Trading Company (USTC) country executive officer, Mr. Neville Isdell, says Liberia is entering a new era for the children who are future leaders to have employment when they reach employment ages.
Business Climate Gets Boost: Gov't Records
Published: 30 April, 2008
For too long, the investment climate in Liberia has faced major challenges. These challenges range from stringent but corrupt administrative bureaucracies that hampered the growth and development of businesses in the country.
Petroleum Importers Recommend Price Increase
Published: 30 April, 2008
Harry Greaves, MD, LPRC
MONROVIA, In the face of the continuous hike in world oil market prices, the Petroleum Importers Association of Liberia (PIAL) is recommending to Government an increase in the price of petroleum products on the local market in line with other world basic commodities.
Dr. Tolbert presents the scroll of Reforms to Vice-President Boakai, surrounded by Dep. Minister Tamba and other government officials
Gov't Encourages More Investments
Published: 29 April, 2008
MONROVIA, The Government of Liberia, in a bid to encourage and facilitate business growth and potential investments in Liberia, has announced the attainment of major reforms in the country.
Dr. Richard V. Tolbert Chairman, NIC Photo by A.M. Johnson
The ongoing arrival of hundreds of multi-million dollar foreign-owned companies to explore investment possibilities in Liberia, leaves one to wonder whether it is just a mere love these investors harbor for this country or is there more to it.
Reforms Recorded in Business Registry
Published: 25 April, 2008
The investment climate in Liberia is gradually beginning to record major improvements as the Government of Liberia plans to reduce the number of procedures and time it takes to register small- and medium-size businesses in the country. If everything goes well as planned, business people will take just five days to process and complete their business registration.
LIBA Signs MOU with Affiliate Branch in USA
Published: 24 April, 2008
LIBA president Samuel Mitchell
MONROVIA, Members of the Liberia Business Association (LIBA) and its affiliate branch, the Liberia Business Association in the United States of America, on Tuesday evening signed a Memorandum of Understanding (MOU) intended to improve and enhance the foundation for business environment within the borders of Liberia and the United States of America.
Dr. Tolbert confers with Chinese investors during the forum
Chinese Investors with US$5B Base Eye Liberia
Published: 24 April, 2008
MONROVIA, At least four Chinese companies under the banner of China-Africa Development Fund have expressed interest in carrying out massive investments in the Liberian economy.
Mrs. Morenike Adepoju, MD, Ecobank Liberia and Vice President Boakai withdraws using the ATM Card
Liberia on World Map for Electronic Banking
Published: 23 April, 2008
MONROVIA, Barely few weeks after the launch of internet banking by one of its competitors, Ecobank Liberia has richly launched the famous Automated Teller Machine (ATM) in Liberia. It was on a sunny Thursday morning and the venue for the launch was Paynesville when the Managing Director of Ecobank Liberia, Morenike Adepoju, announced to the Liberian people that the Pan African Bank has finally put the war-raged Third World country on the electronic banking map of the globe.
NEXPORTRADE Chairman Romeo Barberropoulous (l) and a member of the delegation, Mohammed K. Abdulsalam
New Business Opportunity For LIBA Members
Published: 18 April, 2008
A new trade link has been established between a mammoth Nigerian public and private business group called NEXPORTRADE and the Liberia Business Association (LIBA) which is aimed at strengthening the capacity of members of the local business association.
Mrs. Ethel Davies, Deputy Executive Governor, CBL. To her right is Vice-President Boakai
CBL Committed to Reforming Banking Sector
Published: 18 April, 2008
MONROVIA, Mrs. Ethel Davies, Deputy Executive Governor of the Central Bank of Liberia (CBL), has said that CBL remains committed to its ongoing drives aimed at reforming and restructuring the banking sector of Liberia.
Food Crisis Emerges in Midst of Oil Crisis,
Published: 16 April, 2008
Is the world headed for a food crisis? India, Mexico and Yemen have seen food riots this year. Argentines boycotted tomatoes during that country's recent presidential elections when vegetable became more expensive than meat; and in Italy, shoppers organized a one-day boycott of pasta to protest rising prices. In late October last year, the Russian government, hoping to ease tension ahead of parliamentary elections early next year, announced a price freeze for milk, bread and other foods through the end of January.
First Bank Prioritizes Wealth Creation
Published: 15 April, 2008
FIBLL Managing Director Francis Horton
The First International Bank Liberia Limited (FIBLL) has announced vigorous plans aimed at creating wealth within the Liberian economy by increasing support to Liberian businesses.
L-R: ADA President and CEO, Mr. Wendell McIntosh; Agriculture Minister, Dr. J. Chris Toe;
Acting Finance Minister Tarnue Mawolo; Justice Minister Cllr. Philip A.Z. Banks; and NIC
Chairman, Dr. Richard Tolbert at the signing ceremony held at the Ministry of Agriculture
on 19th Street, Sinkor
US$30M ADA, GOL Rice Farm Deal
Published: 14 April, 2008
What would be recorded in history as the renaissance of the agriculture sector that could make Liberia self-sufficient in food production unfolded last week when the nearly three-year old Government of President Ellen Johnson-Sirleaf entered a US$30 million concession agreement with African Development Aid (ADA).
Cellcom Introduces Advanced Technology
Published: 14 April, 2008
Asaf Rosenheck
The management of Cellcom GSM has introduced a new technology for its subscribers; they can now use their camera phones in sending information with pictures to all their partners everywhere Cellcom signal is erected within 30 seconds and free of charge.
Liberia to Host WAICA Conference in 2009
Published: 09 April, 2008
Liberia has been given the mandate to host the 31st Edition of the West African Insurance Companies Association (WAICA) Annual General Meeting and Educational Conference. The conference is expected to be held in Monrovia in 2009.
Rapid Transfer: An Excellent Bank Product with “One Bank Concept”
Published: 09 April, 2008
Mr. Adolphus D. Tweh, head of Operations, Ecobank
Every banking institution in the world seeks to attract their customers in many ways. Some do so by offering quality services to maintain existing customers and to attract new ones. Others provide extra security to protect their customers' deposits.
IB Launches Internet Banking
Published: 07 April, 2008
Thomas Jeffrey, III, CEO, IB
The Administrative and Finance Manager of International Bank (IB) Liberia Limited, Henry Saamoi, has predicted unbending competition within the banking sector in Liberia. But Mr. Saamoi said IB would surpass all other commercial banks operating in the country as the banking sector gravitates to high technological level.
Planet 44 nightclub in Ganta and Ms. Bessy Gegbeh, proprietor, Planet 44
Drinks Price Hikes in Nimba
Published: 07 April, 2008
The prices of drinks in Nimba, and presumably other counties in the country, are skyrocketing daily as consumers and traders in the county are expressing frustration about the continuous rises.
