Business

– Re-elected PSC Chairman The protracted delay in the implementation of wide-ranging tax reforms remains “a matter of acute frustration for the private sector” and the Private Sector Commission (PSC) is targeting the end of 2009 as “the outside time frame” for arriving at a common position with government on tax reform, re-elected PSC Chairman Captain Gerry Gouveia told Stabroek Business yesterday.

The July 2 disruption of the Guyana Telephone and Telegraph Company (GT&T) Americas 11 cable at Bath, West Coast Berbice was very likely the work of saboteurs, a well-placed company source told Stabroek Business earlier this week.

The Guyana Geology and Mines Commission (GGMC) recently favoured first-time miners in its award of properties at an auction and lottery at the Girl Guides Pavilion.

…at Second WTO Trade Policy Review Labour Minister Manzoor Nadir on Wednes-day underscored Guyana’s commitment to building what he called a “socially just market economy” as a player in regional and international trade while  deepening and strengthening a raft of economic reforms.

President Bharrat Jagdeo recently met with Caricom Development Fund (CDF) CEO Ambassador Lorne T McDonnough and Legal Counsel Arden Warne for a briefing on the operations of the Fund.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 311’s trading results showed consideration of $29,037,474 from 270,615 shares traded in 15 transactions as compared to session 310 which showed consideration of $600,980 from 47,140 shares traded in 5 transactions. 

Neal & Massy to partner with other business houses A business plan for the creation of a major multi-stakeholder private sector investment in the country’s agricultural sector could be completed within a few days and critical decisions with regard to moving ahead with the investment are likely to be made over the next month, Chairman of the Agriculture sub-committee of the Private Sector Commis-sion (PSC) Beni Sankar told Stabroek Business earlier this week.

Guyana’s talented community of art and craft producers appear, finally, to be seeking in earnest to lift themselves out of the condition of  underachievement that has characterized what is widely believed to be a potentially lucrative industry.

Some of our local artists and craftspeople still feel strongly about what they continue to believe was a missed opportunity to effectively market the local art and craft industry on the global stage provided by the 2007 Cricket World Cup in the Caribbean.

This year’s edition of Global Development Finance, the report by the World Bank on the state of the international economy focuses in its entirity on the global finanxcial and economic crisis, its current and projected impact on both developed and developing countries and the prognosis for recovery.

-tenders for industrial, military footwear not favoured by local clients Insufficient success in making inroads into the local leathercraft market has forced one of Guyana’s highly skilled craftsmen to temporarily close his $20m factory even as he continues to seek ways of changing a domestic consumer culture which, he says, is yet to be persuaded that goods manufactured here in Guyana can be every bit as durable and attractive as foreign imports.

$60M loan sealed with World Bank private sector arm The Small Business Development Finance Trust on Tuesday announced that it had funded over 540 micro and small loans to the value of $ 147, 245,000 during 2008, in spite of the challenging economic environment.

The Berbice Chamber of Commerce and Development Association elected a new executive committee to oversee and manage its operations for 2009/2010 at its AGM held on June 4.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 310’s trading results showed consideration of $600,980 from 47,140 shares traded in 5 transactions as compared to session 309 which showed consideration of $16,690,500 from 385,000 shares traded in 3 transactions. 

(Prepared by the Guyana Marketing Corporation and published by Stabroek News Business as a public service.)

Report cites lack of info on listed companies, poor knowledge of share trading If Guyana is to attract more external investment and stimulate increased trade it is important that the country focus more attention on improving its corporate governance framework for investors and trade partners.

Says polymer has proven its worth, can cut costs by up to 30% Guyana is among several Caribbean countries being targeted for the application of new, less expensive road building technology which, according to the South African owner of the company that created the breakthrough, can significantly reduce road construction costs to developing countries.

We welcome the telephone calls that we have received over the past two weeks from three separate  persons purporting to be speaking for Amerindian communities expressing the view that our recent reporting  on the mining sector based on interviews with Acting Commissioner of the Guyana Geology and Mines Commission (GGMC)  William Woolford and Executive Director of the Guyana Gold and Diamond Miners’ Association (GGDMA)   Edward Shields may have created the impression that the sense of recklessness and irresponsibility that has frequently characterized some mining operations in the interior was a thing of the past.