Daily Archive: Monday, March 9, 2009

Articles published on Monday, March 9, 2009

Hundreds caught up in 35% returns scheme

Veggie export ‘business’ used to gather money In a case that has echoes of a ‘Ponzi scheme’, an employee of a state agency is in police custody as the lawmen probe a scheme that offered a 35% rate of return monthly and into which hundreds of persons invested their monies but were not paid their profit since the year began.

GTM starts up female road rescue club

Female policyholders of the Guyana and Trinidad Mutual Fire Insurance Company who have comprehensive motor insurance will now benefit from a club created by the company which concentrates on helping women who encounter road mishaps.

NCW: Spotlight violence against women

This year International Women’s Day provides an opportunity to call women and men everywhere to action by shining a spotlight on the issue of violence against women, the National Congress of Women (NCW), the women’s arm of the People’s National Congress Reform, said in a message marking the occasion.

FIRST BLOOD! The Guyana team celebrate the dismissal of opener Kyle Corbin who was caught by wicketkeeper Darwain Christion, centre, off the bowling of Christopher Barnwell for 16. (Aubrey Crawford photo)

Guyana pressing for outright win

– Deonarine, Fudadin fall agonizingly short of career landmarks Bottom of the table Guyana were pressing for an outright win at the end of the third day’s play of their four-day regional West Indies Cricket Board-sponsored tournament match against the Combined Campuses and Colleges (CCC) team at the National Stadium at Providence yesterday.

Obama to let health institute decide on stem cells

WASHINGTON, (Reuters) – President Barack Obama will  lift his predecessor’s restriction on federal funding of human  embryonic stem cell research today and will give the  National Institutes of Health four months to come up with new  rules on the issue, officials said yesterday.

Bernard Madoff

From Madoff to Stanford, sleuths chase assets

NEW YORK, (Reuters) – While accused hedge fund  swindler Arthur Nadel sits in a Manhattan jail, Burton Wiand is  busy seizing control of his assets — a 453-acre mountainside  tract of land in North Carolina, several airplane hangars and a  jumble of bank accounts.

IT boost for Esau and Jacob

The Esau and Jacob community on the right bank of the Mahaicony River  on Friday received two computers, printers and stationery from the Ministry of Local Government and Regional Development in collaboration with the United Nations Development Programme (UNDP).

Clement Rohee

Rohee declines comment on spy equipment report

Home Affairs Minister Clement Rohee says he has nothing to say over the report that equipment reportedly used by drug-indicted businessman Roger Khan to intercept calls was re-exported to the US in 2007, since he only read about it in the newspaper and has “not thought” about it.

What was the capitalization status of the financial sector at the end of February 2009?

Dear Editor, In the March 5, 2009 Stabroek News article titled ‘Bank of Guyana says financial sector adequately capitalized at Dec 2008’ the Bank of Guyana in response to purported continued deliberate attempts to mislead the public on the health of the financial system made it abundantly clear that Guyana’s financial sector was adequately capitalized until the end of December 2008.

GCB/Castrol Inter-county

Demerara retain U-15 titleDefending champions Demerara easily retained their Guyana Cricket Board (GCB)/Castrol U-15 Inter-County title when they defeated arch rivals Berbice by seven wickets on the Duckworth/Lewis system in the final round match yesterday.

CIB books in a mess – Central Bank Governor

(Trinidad Express) Non-performing loans on the books of the state-impounded CL Financial-owned Clico Investment Bank (CIB) could account for over 20 per cent, significantly more than the industry standard of two-to-three per cent, sources close to the bank have disclosed.

In The Diaspora

On petty tyranniesArif Bulkan lectures in the Faculty of Law at the University of the West Indies By Arif Bulkan The issue of Presidential (non) assent to Bills is being discussed again, this time by Prem Misir in his reply to Christopher Ram.

A brilliant manifesto

Dear Editor, On January 29,  a letter by Mr Ogunseye was published in SN captioned ‘The work of Ronald Waddell resulted in a reduction in extra-judicial killings,’ wherein it is stated, “There is therefore an urgent need for re-thinking and re-strategising on the way forward by the leaders of the African community.”

Fixed at last

Fixed at last: This bridge at Sussex Street which leads into the Le Repentir cemetery and which was previously in a state of disrepair, has been fixed and the rails painted.

The NIS must also be heard from

In last Monday’s editorial entitled ‘Clico and the failure of leadership’ we dealt with the actions taken by the President, the Minister of Finance and the Commissioner of Insurance in relation to the crisis that has engulfed the local Clico subsidiary.