Business

Spend More There comes a time when monetary policy must concede to fiscal policy. 

Even as evidence unfolds of a growing decline in the quality of service offered by the country’s business sector, both private sector umbrella organizations and several business houses remain oblivious, immersed as they appear to be in their objective of maximizing profits, Con-sumer Service Consultant Joyce Sinclair told Stabroek Business in an interview earlier this week.

The new online Market and Enterprise Information System launched earlier this month by the New Guyana Marketing Corporation (New GMC) seeks to remove the constraint of limited access to critical market information which has constrained the growth and expansion of enterprises in the local agricultural and agro processing sectors.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 430’s trading results showed consideration of $3,612,250 from 128,843 shares traded in 8 transactions as compared to session 429 which showed consideration of $1,197,444 from 50,500 shares traded in 8 transactions. 

In the wake of the violent Piari robbery and the spate of deaths that followed, the Guyana Police Force, the Guyana Geology and Mines Commission (GGMC) and the Guyana Gold and Diamond Miners Association have now decided to move against the many illegal ‘shops’ that are operating in the gold-mining regions of Guyana.

Business Cartoons

Illegal ‘shops’ situated near mining camps in Guyana’s interior gold-mining areas are being targeted for removal as part of a move by the Guyana Police Force, the Guyana Geology and Mines Commission (GGMC) and the Guyana Gold and Diamond Miners Association (GGDMA) to tackle the rising number of violent robberies in the sector.

Flour exports to Brazil by the National Milling Company (Namilco) are proceeding at between 1,100 and 1,500 bags per week and can be increased even further but for the incomplete state of the road between Linden and Lethem, according to the company’s Chief Executive Officer Bert Sukhai.

Official and public chatter about the prospects which the 2009 official opening of the Takutu Bridge held for increasing access to Brazilian markets for goods manufactured in Guyana has more or less subsided beneath the recognition that while the completion and commissioning of the bridge was an important step in that direction, the completion of an all-weather road between Linden and Lethem was still a factor – perhaps the major factor to be considered if locally manufactured products were to benefit fully from what is a huge Brazilian market.

Just a minute people…

The Barbados Manufacturers Association (BMA) has echoed a sentiment expressed to Stabroek Business recently by a local seamstress regarding persons importing garments from the Far East, relabelling them and passing them off to consumers as Caribbean-made products.

Migrant Workers Despite the happy talk of the administration, the current model of development might not be enough to carry Guyana into the future.

Just days after the disclosure by New York police that several Guyanese had been arrested following the breaking up of what was described as “the biggest ID scam in American history” involving the manufacture and use of forged credit cards, a new report published in the United States says that credit and debit card fraudsters in that country remain on top of their game despite increased spending by commercial banks and other business houses on measures designed to curb their activities.

At 21, Antonio London exudes the confidence of a seasoned businessman. More than that, his aptitude and enterprise extends way beyond managing a successful business.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 429’s trading results showed consideration of $1,197,444 from 50,500 shares traded in 8 transactions as compared to session 428 which showed consideration of $4,800 from 1,000 shares traded in 1 transaction. 

-cites new products, new exhibitors, overseas participation GuyExpo Co-Chairman Deryck Cummings has told Stabroek Business that this year’s three-day event was a significant success and that the barometer for measuring the achievements of the event goes well beyond the number of people that visited the Sophia Exhibition Site over last weekend.

Nationals of Guyana and Suriname residing away from home account for more than 60 per cent of tourist arrivals in their respective home countries, which  numbers are among the highest in Caricom territories according to an article published in the October 3 issue of the Barbados Business Monday.

There are aspects of the organization and execution of GuyExpo which are still are still in need of remedial attention, a fact that was again pointed out to this newspaper last week by some of the exhibitors.

Business Cartoon

The Guyana Sugar Corporation (GuySuCo) has completed a major overhaul of its Procurement Policy Manual to render the company’s procurement procedures more consistent with national policy guidelines and to improve transparency and accountability in its multi-billion-dollar procurement process, Chairman of the Corporation’s Central Tender Committee (CTC) Keith Burrowes has told Stabroek Business.