GHANA

UBS Trader on Facebook: 'Can We Shut Down Global Markets So Everyone Can Just Chill?'

UBS $2 billion rogue trade suspect held in London
UBS, it appears, had no idea that accused rogue trader Kweku Adoboli might be messing around with unauthorized risks in its London office, losing $2 billion. It's shocking that $2 billion could slip away so easily, but that's apparently what happened. The bank's analytics simply never caught on, and by now, you know what happened from there -- $2 billion is gone, and the 31-year-old Adoboli has been arrested by London police and charged with three counts while UBS, the Swiss bank with ...
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Kweku Adoboli

Facebook Friend Risk: The Kweku Adoboli Dilemma

When a name like Kweku Adoboli instantly becomes public, like the UBS trader who allegedly lost the bank $2 billion in unauthorized transactions and who is suddenly a globally hot Internet search item, many turn to the most public source available -- Facebook, the world's largest social network.
The Valero St. Charles oil refinery

Ghana Tema refinery shuts unit, runs out of crude

Ghana's 45,000 barrel-per-day state-run Tema oil refinery shut its main crude distillation unit on August 28 after running out of feedstock, two sources with knowledge of the plant's operations told Reuters on Monday.
Gold and silver bars are pictured at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna August 26, 2011.

Golden Star restarts mining at gold mine in Ghana

Golden Star Resources said it has resumed mining at its Pampe gold deposit in Ghana, a move that will help increase overall production and slash cash operating costs at the Bogoso/Prestea mine in the region.
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Endeavour Mining Buy of Adamus Resources Done by November

Australia's Adamus Resources said on Thursday it expects a friendly takeover by Canada's Endeavour Mining Corp to be completed in early November, creating a West Africa-focused company producing a quarter million ounces of gold annually by 2013.
General view of the Tema oil refinery near Ghana's capital Accra

Ghana Parliament Approves $3 Billion Chinese Loan

Ghana's parliament on Friday approved a $3 billion Chinese loan and the country's finance minister said the west African nation was in talks with China's Exim bank for loans worth another $6 billion, which are part of a broader Chinese package.
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Gold Fields Ltd. Warns of Spurious Web Sites

Gold Fields Ltd., a major gold mining company, warned Thursday that there were several Web sites that use Gold Fields branding and purport to be investment vehicles on behalf of the company.
John Atta Mills

Ghana parliament to debate China's $3 bln loan

Ghana's parliament will begin debating on Monday a $3 billion loan facility awarded by China Development Bank to the west African nation to finance infrastructure projects including in the oil and gas sector, a government statement said.
U.S. first lady Michelle Obama

Michelle Obama Defends President on Africa

In Africa on a goodwill mission Friday, First Lady Michelle Obama defended her husband against criticism that he isn't paying enough attention to the continent. The first lady said her weeklong trip is, actually, proof of the president's commitment to Africa, the Associated Press reported.
Hypersonic-flight

United's mid-air assault sent F-16 fighter jets

A Ghana-bound United Airlines flight 990 last Sunday was escorted back to Washington, D.C., by U.S. Air Force F-16 fighter jets after an argument between two passengers over a reclining seat erupted into a mid-air assault.

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