Daily Archive: Friday, July 6, 2012

Articles published on Friday, July 6, 2012

Yog Mahadeo

Yog resigns as private sector head

Just days after he was elected as Chairman of the Private Sector Commission, Yog Mahadeo today tendered his resignation, the latest shock connected to a shake-up at GT&T which also saw him quitting his post there as Chief Executive Officer last Friday.

RUSAL battle set for British court

LONDON,  (Reuters) – A battle over a $1 billion stake in RUSAL, the world’s top aluminium producer, comes to London next week, as two billionaire magnates go head-to-head in one of the largest ever commercial disputes to be fought in a British court.

Keith Burrowes considering quitting city role

Keith Burrowes says he is considering stepping down as Head of the Implementation Committee for the Georgetown Mayor and City Council (M&CC) Commission of Inquiry recommendations, citing continued difficulties in the implementation of the recommendations he had made as Commissioner and the welter of financial irregularities there.

Chris Gayle hits a six in his knock of 63. (Jamaica Gleaner photo)

Smith, Gayle give Windies winning start amidst rain

KINGSTON, Jamaica, CMC – West Indies defied rain to make a winning start to their One-Day International series against New Zealand here yesterday, cruising to an easy nine-wicket win on the backs of explosive unbeaten half-centuries from Dwayne Smith and Chris Gayle.

Battle of the sexes swings from ring to pool

LONDON, (Reuters) – Women boxers have claimed an early victory at the 2012 Olympics by knocking out the last all-male sport but the battle for sex equality at the Games rages on, and not just among women – male synchronized swimmers are also demanding equal rights.

Another good year: Rice producers could again see record yield this year

Rice set to top 400,000 tonnes again in 2012, GRDB head says

Guyana’s annual rice production is set to exceed 400,000 tonnes for the second time in its history and according to Guyana Rice Development Board (GRDB) General Manager Jagnarine Singh the projected landmark is owing to a combination of circumstances, including the emergence of new, more productive varieties of paddy in recent years, the application of improved technology to the industry, significant improvements in drainage and irrigation and a more aggressive approach to rice cultivation on the part of the country’s 8,000-odd rice farmers.

Jerome Taylor

Inactive Taylor picked up by Rahuna

PORT OF SPAIN, Trinidad,  CMC – Injury-prone West Indies fast bowler Jerome Taylor has been snapped up as one of the overseas signings for the inaugural Sri Lanka Premier League despite having not played international cricket in two years.

GCCI President
Clinton Urling

Way clear for small businesses to join Georgetown Chamber

Within a matter of weeks the way will be cleared for local small businesses to become members of the 122-year-old Georgetown Chamber of Commerce and Industry (GCCI), a move that will help bring an end to the age-old complaint that the major business organizations in Guyana continue to be insensitive to the concerns of the private sector.

All clear for CHEC – Benn

Minister of Works Robeson Benn says that Government sees no reason why China Harbour Engineering Company (CHEC) should not go ahead to execute the Cheddi Jagan International Airport expansion since the issue over which its parent company was sanctioned had nothing to do with CHEC per se.

No request for information was made to the Canadian authorities in the pepper sauce case

Dear Editor, I refer to the article in your publication of Stabroek News dated Sunday, July 1, 2012 captioned ‘Pepper sauce cocaine probe in limbo – Canada ignored request for information, says CANU’ and wish to note the following: Specifically as it relates to the Customs Anti Narcotic Unit (CANU) not receiving assistance from the relevant Canadian officials, it should be noted that in this case no request for information was made by the Ministry of Home Affairs (on behalf of CANU) to the Canadian authorities under the mutual legal assistance mechanism as established by the Mutual Assistance in Criminal Matters Act No.

LUCAS STOCK INDEX LSI
In week one of July 2012, the Lucas Stock Index (LSI) rose 1.71 percent.  The lift in the index was provided by the continued strong performance of the stocks of Guyana Bank for Trade and Industry (BTI) which recorded a seven percent gain in value, and that of Demerara Distillers Limited (DDL) with a six percent expansion. Banks DIH (DIH) added to the gain with a one percent increase.  In the meanwhile, trades by Caribbean Container Inc (CCI), Demerara Bank Limited (DBL) and Republic Bank Limited (RBL) produced no gain this week.  As a result, the LSI continues its upward movement and now exceeds the yield of the 364-day Treasury Bills by more than 16 percentage points.

Manufacturing pushes back

By Rawle Lucas Reluctance Guyanese are going through a catharsis brought on by the new distribution of political power and a growing sense that their new found influence will eventually break down the stone wall of corruption that was built under the previous administration. 

NAACIE calls for GPL CEO to go

The National Association of Agricultural, Commercial and Industrial Employees (NAACIE) is calling for the resignation of Guyana Power and Light Company (GPL) boss Bharat Dindyal, accusing him of anti-union practices and saying that differences were irreconcilable.

CDC trains responders in damage assessment

The Civil Defence Commission (CDC) hosted its last capacity-building workshop on ‘Damage Assessment’ on Tuesday ahead of “Operation Flood Gate 2012,” which will test the national response system and the national and regional disaster plans that have been put in place.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 466’s trading results showed consideration of $4,175,786 from 263,203 shares traded in 15 transactions as compared to session 465 which showed consideration of $1,869,750 from 89,470 shares traded in 5 transactions. 

A mouth-watering prospect

Most of us will recall the exultation we felt at the exploits of the Jamaicans at the 2008 Beijing Olympics in winning six gold medals, five of them in the sprints, with the magnificent Usain Bolt leading the way, with gold in the 100m, 200m and the 4x100m relay and the unprecedented feat of setting world records in all three events.

Reuters World News Highlights

BEIRUT – In what would be the most high-profile defection from the inner circle of the Syrian leadership, Manaf Tlas, a friend of President Bashar al-Assad and a brigadier in his Republican Guard, was reported yesterday to have fled to Turkey.