Business

Aftershocks Four years ago, the global financial system experienced a serious credit challenge. 

By B.A. Barrington Ickram Ally also known as “bat man” has turned his passion for making cricket bats into a successful business.

Lengthy delays in the processing of work permits by the Ministry of Home Affairs contribute to illegal gold-mining by a number of non-Guyanese miners, particularly Brazilians, according to a Guyana Gold and Diamond Mining, and Association (GGDMA) source.

While the commercial banking sector in Guyana is yet to make a pronouncement on how it is likely to respond to the US’s new Foreign Account Tax Compliance Act (FATCA) which requires the banks to submit to the Internal Revenue Service (IRS) financial information on clients deemed by Washington to be “persons of interest,” the new law, which comes into effect in January 1, 2013 is making waves in social, political and business circles in Jamaica.

Local accountants who are members of the Association of Chartered Certified Accountants (ACCA) are to benefit from a one-day seminar on Friday May 4 that will address a range of issues relating to the practice of the profession.

The Government of Guyana may be upbeat over the prospects of the arrival of the Marriott brand here but one particular Caricom country is accusing Marriott of failing to honour a commitment which it made with the authorities there.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 457’s trading results showed consideration of $1,406,207 from 21,014 shares traded in 12 transactions as compared to session 456 which showed consideration of $1,412,513 from 115,081 shares

Illegal mining

Local banks appear to have been slow to respond to a new United States tax compliance law which will require them to provide the US Internal Revenue Service (IRS) with financial information on US citizens possessing local bank accounts containing amounts exceeding US50,OOO (G$100 million) or foreign entities in which U.S.

Both of the major expatriate investors in Guyana’s bauxite industry have announced that they are pumping more money into equipment with a view to taking advantage of anticipated significant increases in demand for the product in the years ahead.

Critical Indicator The service sector is the largest sector of the Guyana economy in more ways than one. 

Over time the private sector has invested heavily in programmes designed to equip its workforce with the required skills to enable them to function effectively.

This is the second in a series of three articles on Performance Management Practices prepared for The Stabroek Business by the Mersu Caribbean Consulting Group, a Trinidad and Tobago-based Strategic Marketing, Image Management and Business Consulting Group By Averil Williams In a prior editorial, you were introduced to performance management defined as the approach and process of managing a business.

Having given up the corporate rigours of an influential directorship of a family shipping company, Farhaud Amin has assumed a quieter, though, arguably no less important role in the local business community as the sole owner of a new enterprise through which, he says, he hopes to contribute to “galvanizing business” in Guyana.

Controversy continues to attach itself to the Chinese commercial presence in the region the latest brouhaha arising out of what Antiguan hoteliers and restaurateurs regard as trading practices designed to corner the local lobster market and place the high-priced delicacy beyond the reach of the local consumers.

Newly elected President of the Georgetown Chamber of Commerce and Industry (GCCI) Clinton Urling has said that a point has now been reached in the protracted discourses between the government and the private sector on the issue of tax reform where there is need for “a timeline” for the effective and efficient” settling of the issue.

Business Cartoons

Guyana is by no means the only country in the world where the utility entities and public facilities are targeted by thieves seeking to strip those installations of metal infrastructure in order to cash in on a lucrative global scrap metal industry.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 456’s trading results showed consideration of $1,412,513 from 115,081 shares traded in 14 transactions as compared to session 455 which showed consideration of $1,412,799 from 116,442 shares traded in 8 transactions. 

A report out of Kingston has indicated that a Jamaican airline, Fly Jamaica, has announced its intention to commence operations between Jamaica and Guyana.