Business

Log production in the local forestry sector during the first half of this year fell below last year’s figure for the corresponding period by more than 34 per cent despite the significantly increased demand for wood products accounted for chiefly by the country’s accelerated housing drive.

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Earlier this week during an event held to mark the launch of GuyExpo 2011, President Bharrat Jagdeo commented on the role that the annual product promotion event plays in providing a platform for the country’s small businesses to highlight their products and services.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 424’s trading results showed consideration of $3,771,842 from 135,143 shares traded in 16 transactions as compared to session 423 which showed consideration of $139,632 from 11,636 shares traded in 7 transactions. 

Almost two weeks after a letter issued by the Guyana Forestry Commission (GFC) raised concerns about restrictions on the export of logs, stakeholders continue to debate how to ease the shortage of lumber and the impact it is having on housing construction and other sectors.

More than 30 local businesses are expected to participate in the Third Caribbean-China Economic Forum scheduled to take place in Port-of-Spain, Trinidad and Tobago from September 12 to 13.

The upbeat soundings among international banks and investment companies regarding the likely movement in the price of gold in the short to medium term are manifested in predictions ranging from US$2,000.00 an ounce by year end to one particular prediction of US$5,000.00 an ounce in the foreseeable future.

LCDS

No effort The disclosure on migration emerging from the Wikileaks cable appearing in the daily newspapers might well explain the lack of urgency on the part of the current administration to create the conditions for faster private sector jobs in Guyana. 

The growth of the local information technology sector and its application to other key areas of national development including health, education and the economy must be attended by a commensurate enhancement in Guyana’s capacity to service and repair equipment and to provide other forms of support to the sector, Chief Executive Officer of Starr Computers Mike Mohan told Stabroek Business in an interview earlier this week.

Experts analyst are predicting that the sustained surge in the price of gold will persist for some time to come.

Officials

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 423’s trading results showed consideration of $139,632 from 11,636 shares traded in 7 transactions as compared to session 422 which showed consideration of $15,539,530 from 240,942 shares traded in 13 transactions. 

GT&T’s negotiations with government preceding the recently tabled telecoms bill, aimed at liberalizing the sector, were both unsatisfactory and incomplete, according to the company’s Chief Executive Officer Yog Mahadeo.

Agriculture Minister Robert Persaud on Monday moved to allay industry fears of an imminent imposition of restrictions on the export of timber and value-added products from the sector triggered by a letter dispatched last week to business houses by the Guyana Forestry Commission (GFC) informing them of export restrictions from September 1.

GT&T Chief Executive Officer Yog Mahadeo says that it costs the telephone company around $60M to replace 20,000 landline handsets every year.

Rice and Sugar Quite recently, Guyanese have been led to expect much from the rice industry. 

A Caribbean Development Bank (CDB) official who has been assigned to oversee the Bank’s administration of a fund designed to help prepare the region for the full and effective implementation of trade deal with Europe says the lack of qualified persons is a key impediment.

Except for complaints about the state of the country’s interior airstrips and the absence of navigation aids, the local aviation industry generally avoids the public limelight.

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