Oil prices fell sharply Tuesday after President Donald Trump said Iran and Israel agreed to stop fighting. Brent crude oil lost $2.08 per barrel and reached $69.40 during early trading in Asia. West Texas Intermediate crude also declined $2.03 to $66.48 per barrel. Both oil types hit their lowest levels since early June. Markets reacted quickly to news that the 12-day conflict might end soon.
Trump made his announcement Monday night and said Iran would stop attacks right away. Israel was expected to follow the ceasefire within 12 hours. Experts believe the conflict will officially end within one day if both countries stay calm. The United States had attacked three nuclear sites in Iran before the ceasefire talks began. Asian markets...
Ghana holds 31.7 tonnes of gold reserves and ranks 63rd among countries worldwide. The African nation stores nearly half of its foreign money reserves as gold. This strategy shows Ghana relies heavily on gold to protect its financial security. The country uses gold as a safe investment during uncertain economic times. International Financial Statistics released these numbers for April 2025.
The United States leads all nations with more than 8,000 tonnes of gold reserves. Germany comes second with over 3,000 tonnes of the precious metal. Italy holds nearly 2,500 tonnes of gold reserves. Russia and China have each built up their gold supplies to more than 2,000 tonnes. These major economies keep most of their reserves as gold rather than...
Stock markets rose Tuesday after President Trump announced a complete ceasefire between Iran and Israel would begin soon. Trump called the agreement the end of a 12-day war between the two nations. Iran's foreign minister said no official ceasefire deal existed but confirmed Tehran would stop attacks if Israel ended its aggression. Israel had not responded to the ceasefire claims at press time. The announcement came after Iran attacked a US military base in Qatar on Monday.
Oil prices fell sharply as investors worried less about shipping disruptions through the Strait of Hormuz. About one-fifth of the world's oil and gas passes through this narrow waterway. Brent crude oil decreased 2.92 percent to $69.39 per barrel. West Texas...
Ghana's currency lost some value against the American dollar on Tuesday. The cedi traded at an average rate of 10.35 cedis to buy one dollar. People selling dollars received 11.02 cedis for each dollar. Currency exchange offices offered different rates for customers. Data comes from Cedirates.com, a trusted website that tracks money and fuel prices.
Exchange bureaus charged 12.00 cedis for each dollar customers wanted to buy. Customers converting cedis to dollars paid 12.35 cedis for one dollar. Banks trading among themselves used slightly different rates. Interbank buying rates reached 10.29 cedis per dollar. Selling rates between banks hit 10.31 cedis per dollar.
British pounds cost more than dollars at exchange centers. Converting...
Ghana launched major raids against illegal miners across three regions during recent operations. The National Anti-Illegal Mining Operations Secretariat began its work on June 15 near the Birim River. Minister Emmanuel Armah-Kofi Buah created this special task force to stop destructive mining activities. Officers targeted areas where miners damage rivers and farmland. The team seized equipment and arrested suspects during multiple raids.
Task force members moved into the Eastern Region first and found illegal operations near Kyebi. Miners ran away when they saw officers approaching their sites. Officials seized four excavators and removed control boards to disable the machines. The operation continued through the early morning hours of...
Hearts of Oak made a coaching change that upset their former leader. The Ghana football club hired Mas-Ud Didi Dramani as head coach on June 20. Dramani will lead the team for two seasons starting with the 2025/26 campaign. The new coach previously worked as an assistant with Ghana's national team. Club officials signed him to guide the Phobians forward.
Aboubakar Ouattara learned about his replacement through public announcements. The Ivorian had managed Hearts of Oak for two full seasons before losing his job. He spoke on Pure FM radio about the club's approach to the situation. Ouattara said management failed to discuss the decision with him first. The former coach called the process a major mistake.
Football teams should...
Asante Kotoko signed midfielder Hubert Gyau from Berekum Chelsea for the upcoming season. The 20-year-old player agreed to a four-year deal with the Porcupine Warriors. Kotoko officials made Gyau their first player addition before the new campaign begins. The young athlete expressed pride about joining the famous club. He wants to help Asante Kotoko capture more championships.
Gyau believes the move will advance his soccer career significantly. The midfielder hopes to earn a transfer to a European team someday. He thinks Asante Kotoko provides the perfect place for his development. The player aims to make an immediate impact for his new club. Gyau feels ready to contribute to their success right away.
The young midfielder broke into...
Hearts of Oak will hire Abdulai Gazale as their new assistant coach according to local news reports. Gazale recently left Basake Holy Stars after helping them avoid relegation from Ghana's top soccer league. The young coach wants to work again with Mas-Ud Didi Dramani who just became Hearts of Oak's head coach. Gazale must meet with club owner Togbe Afede XIV to finalize his contract terms. The appointment should happen soon after their discussion.
Gazale brings solid coaching experience to Hearts of Oak from his previous jobs. He worked as a youth coach at Asante Kotoko and later served as their temporary head coach during the 2020/21 season. Last August he signed a three-year contract with Basake Holy Stars but decided to leave after...
Asante Kotoko plans to make Abdul Karim Zito their permanent head coach for next season. The former Black Satellites manager took over the team when Prosper Narteh Ogum left during the middle of the campaign. Zito helped the club achieve strong results despite having only half a season to work with the players. The team finished third place during the Ghana Premier League competition under his leadership. Asante Kotoko also captured their tenth FA Cup championship during his time as interim manager.
The Interim Management Committee made their decision after seeing the team's improved performance. Zito will receive a contract lasting two years with the Porcupine Warriors. His success during the short period convinced club officials he...
