Business

Prospective employees at Bai Shan Lin’s Ogle office on Monday in response to the company’s advertisement for 700 workers (Inset is Comapny Chairman Whenze Chu)
Prospective employees at Bai Shan Lin’s Ogle office on Monday in response to the company’s advertisement for 700 workers (Inset is Comapny Chairman Whenze Chu)

Bai Shan Lin promises 10,000 jobs for Guyanese

The Chinese company Bai Shan Lin Forest Development Inc, which last week announced that it was seeking to recruit 700 Guyanese workers to kick-start a number of major investment projects in Guyana is aiming to provide jobs for up to 10,000 Guyanese in the longer term, Whenze Chu, Chairman of the company’s parent entity China Forest Industry Group Company Ltd, said.

LUCAS STOCK INDEXThe Lucas Stock Index (LSI) recorded a gain of 0.70 per cent in the second week of trading in the year 2013.  While six stocks traded, only the stocks of Citizens Bank Inc (CBI) and Demerara Distillers Limited (DDL) recorded positive gains.  CBI came alive with a 43 percent increase in price while DDL was more subdued at 0.79 per cent.  The other traded stocks lost ground, except Republic Bank Limited (RBL) which remained unchanged.  Banks DIH (DIH) lost 2.89 per cent, Guyana Bank for Trade and Industry (BTI) lost 2.17 per cent and Demerara Tobacco Company (DTC) lost 0.61 per cent.

Getting to call the tune

The Debate The issue of budget deficits has been a hot topic of debate in the business, academic and international financial community for some time now.

Speed up telecoms legislation – PSC, GCCI

The latest deferral of the second reading of the Telecommunications Bill has drawn comments from three senior private sector umbrella organisation officials, all of whom have told Stabroek Business that a point has been reached where the passage of the legislation ending the extant Guyana Telephone and Telegraph Company (GT&T) monopoly had to be significantly accelerated.

Banks, DDL on committee to address proposed tax on beverage holders

Banks DIH Ltd and Demerara Distillers Ltd the country’s two major beverage manufacturers are on a committee set up by the Guyana Manufacturers and Services Association (GMSA) to prepare a position paper on the proposed amendment to the Customs Act that will see local drinks’ manufacturers having to pay a tax on receptacles.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 494’s trading results showed consideration of $14,421,381 from 486,358 shares traded in 27 transactions as compared to session 493 which showed consideration of $1,205,921 from 24,508 shares traded in 10 transactions. 

David Granger

Granger frowns on private sector’s ‘compliant posture’

The private sector has been less than diligent in pursuit of the appropriate lobbies to compel the government to address the issues that impact negatively on the well-being of the business community, Leader of the Opposition Brigadier David Granger told Stabroek Business in a telephone interview on Saturday.

Tourism

All of the talk that there has been about tourism and its potential to contribute more meaningfully to the country’s economy cannot gainsay the fact that Guyana is not even remotely close to being that tropical tourist paradise which has long been highly marketed to travellers from Europe and North America.

LUCAS STOCK INDEX
The Lucas Stock Index (LSI) recorded a gain of 0.33 percent in the first week of trading in the year 2013.  While four stocks traded, only the stocks of Banks DIH (DIH) recorded a gain which amounted to 2.37 percent.  The stocks of Demerara Bank Limited (DBL), Demerara Distillers Limited (DDL) and Guyana Bank for Trade and Industry (BTI) remained unchanged.

Small, but useful

Small Flame As Guyanese gradually settle into the New Year and the trading season for 2013 gets on the way, it is a good time to review the performance of the Guyana Stock Exchange (GSE) during 2012. 

Legal booksellers wary about piracy’s end

Legitimate importers of school texts are almost certain to take “a cautious line” as far as the number of texts imported for the forthcoming school year is concerned since there is no certainty that last September’s court ruling prohibiting the publication and sale of ‘pirated’ school books in Guyana will guarantee the cessation of the practice, Proprietor of Austin’s Bookstore Lloyd Austin has told Stabroek Business.

Average Wholesale & retail Prices at Rural and Urban Markets

(Prepared by the Guyana Marketing Corporation and published by Stabroek Business as a public service)*Prices only represent the average Wholesale Farmgate and Retail Prices at the above mentioned markets and are NOT prices set by the Guyana Marketing Corporation or Ministry of Agriculture.

Republic Bank commits to Empretec’s venture out

Citing what it says have been “positive results and evident business growth and success among participants, Republic Bank Guyana Ltd has announced that it will further extend its support for EMPRETEC’s Venture Out For Women 2013 programme, by facilitating a total of $1 million in collateral-free loan prizes to the three participants in this year’s programme with the best business proposals. 

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