New man at the helm

Whilst the concept of the team is often an important tenet in the pursuit of successful leadership it is not uncommon for some leaders to succeed purely by virtue of the sheer weight of their own personalities and their own particular leadership qualities so that much of what emerges as policy within an organization may well be the result, by and large, of the thinking of one man or woman.

OPEC meeting upbeat on future prospects of oil

As Guyana inches towards a 2020 commencement of the exploitation of what has been determined to be a potentially fortune-changing oil find, some of the major players in the industry were discussing what is widely believed to be significant global movement towards a historic shift in the demand for oil and oil products driven by growth in the world’s major markets.

Scanning the invest climate, going forward

INVEST- 2018/19

The recently released 2018-2019 issue of INVEST, the official publication of the Guyana Office for Investment (GO-Invest), focuses repeatedly and hardly unexpectedly on the prospects that inhere in the country’s significant oil and gas finds though the publication is mindful to underscore the government’s declared commitment to a Green State Development Strategy (GSDS) as “a catalyst for increased investment and sustainable development.” Government, it appears, envisages impetus being provided for the unfolding of the GSDS over the next two decades through what it says will be “significant levels of financial input,” much of which, presumably, will come from revenues secured from the oil and gas sector.

Consumer Affairs Division wants better service from minibuses on agenda of union/ministry meeting

Against the backdrop of a sustained clamour by minibus operators for fare increases and the recent disclosure that the Ministry of Business could be meeting with the United Minibus Union (UMU) to discuss the fares issue, a Ministry official has told this newspaper that any official engagement pertaining to the sector should go beyond the fares issue and extend into the realm of consumer-related concerns.  

Testing but rewarding year for gov’t/private sector relations

- PSC Executive Director’s Report

Against the backdrop of frequent flare- ups between government and the private sector arising mostly out of differences over policy decisions and their opinions on their impact on the business community, the Private Sector Commission (PSC) has said in its recently released 2017 Annual Report that last year marked a period of “increased and more fruitful interaction” between the country’s leading business support body and the coalition administration of President David Granger. 

Georgetown Chamber, Indian export facilitating body sign wide- ranging deal

The Georgetown Chamber of Commerce and Industry (GCCI) will be seeking to utilize the recently completed memorandum between itself and the Federation of Indian Export Organizations (FIEO) to make maximum use of such opportunities as may arise for cooperation and partnership for investment and trade. 

Boyer calls for more jobs in `slowing’ economy

-says local businesses can work with ‘balanced’ oil and gas local content policy

As economic opportunities arising out of the advent of oil and gas as an economic resource become increasingly apparent, former Chairman of the Private Sector Commission (PSC) Edward Boyer has said that he believes that local businesses “are achieving the high standards required for consideration” where local content opportunities are concerned.

Kitco Market Data

Kitco Market Data Gold Prices for the three day period ending Thursday June 28, 2018

Market prices

(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.

City Chamber President upbeat about trade, investment opportunities in MOUs with Canada, Cuba, India

The formalization of memoranda of understanding between the Georgetown Chamber of Commerce and Industry (GCCI) and key business support organizations in Canada, Cuba and India designed to promote “structured trade and other related areas of cooperation” send unmistakable signals that countries across the world are keen to do business with Guyana, GCCI President Deodat Indar told the Stabroek Business on Wednesday.  

Caribbean credit unions not fulfilling potential – T&T PM

-UG Business Professor concurs, says local commercial banks reaping ‘the sweet of the deal’

The success which Credit Unions in the Caribbean have had in attracting increasing numbers of members and exponentially growing their savings continues to be compromised by their failure to provide optimum returns on those savings through their inability to disentangle themselves from the less than lucrative savings mechanisms offered by commercial banks,” Trinidad and Tobago Prime Minister Dr.

Guyana and the cooperative movement

A cursory examination of global statistics pertaining to the international cooperative movement reveals an interesting picture regarding the popularity of cooperatives, the involvement of people therein and the impact of cooperatives on the global economy.

Time for credit unions in Guyana to shift gears

By Professor Leyland Lucas A Response to Prime Minister Dr. Keith Rowley’s recent comments on the state of the Credit Union movement in Trinidad and Tobago Within Guyana, the Credit Union movement appears to be at an interesting juncture.

Kitco Market Data

Gold Prices for the three day period ending Thursday June 21, 2018Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

Market Prices

(Prepared by the Guyana Marketing Corporation andpublished by Stabroek Business as a public service) The New Guyana Marketing Corporation has agreed to provide us with the above information which we will publish on a weekly basis subject to receipt.

Minister Lawrence’s outburst

In what would have come to many observers as something of a surprise the Ministry of Public Health, earlier this week, issued a media release seemingly pointing to a busy time ahead for the Ministry pertaining to what Minister Volda Lawrence strongly suggests has been a virus of fraud attempts to steal from the public treasury, occurring within her Ministry.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 778’s trading results showed consideration of $999,900 from 1,111 shares traded in 1 transaction as compared to session 777’s trading results which showed consideration of $17,512,301 from 66,357 shares traded in 17 transactions.

Giftland boss wants ‘full disclosure’ on MovieTowne duty-free concessions

Amidst reports of complaints from Trinidad and Tobago businessman Derek Chin that the launch of the US$45 million MovieTowne Leisure and Entertainment Complex at Turkeyen has suffered delays on account of various government-erected bureaucratic hurdles,   including delays in the clearance of containers for which duty-free concessions were granted, Chairman of the rival Giftland Group Roy Beepat is again seeking information as to “what concessions and facilities were granted” to MovieTowne.

Emporium Investments aiming at new standards ethic in construction sector

Karni Paton and Sean Thompson, the husband and wife team that has established the Emporium Investments Bureau Inc in Guyana are seeking to, among other things, infuse an enhanced work ethic into the local construction sector, prepared, they say, to back their confidence in their ability to turn things around by offering extended warranties on the structures they deliver to their clients.

Jamaica moving to curb politicisation of state Boards

With governments in the region plagued by the practice of packing the Boards of state-run entities with their favoured political appointees, the present administration in Jamaica is moving to table regulations in the country’s National Assembly that will effectively de-politicise the Boards of public-sector bodies by, among other things, ensuring that a third of those appointed by a previous Minister or administration be carried over to a new Board.  

‘Greening’ looming larger in gold mining sectoral training

- June 21-22 forum addressing low cost alternatives to mercury

Global sectoral pressures associated with raising the safe-mining bar in the gold extraction sector is focusing increasingly on the role of the Guyana Geology & Mines Commission’s (GGMC) Mining School, according to the Head of the institution John Applewhite-Hercules. 

Kitco Market Data

Kitco Market Data Gold Prices for the three day period ending Thursday June 14, 2018

Politics and public/private sector relations

Relations between the public and private sectors in the economic sphere are generally considered – and justifiably so – to be essential to Guyana’s economic health, the reason being that while it is government that creates and provides the policy framework within which the private sector functions, it is the private sector by investing in economic initiatives that makes critical goods and services available, paying taxes and creating jobs that are, in fact, the engine of growth. 

Legacy projects must flow from extraction of non-renewables by foreign investors – Gouveia

Foreign investments in sectors that significantly exploit Guyana’s non-renewable resources should, “as a matter of course,” leave behind Guyana’s significant “legacy projects” that provide some measure of meaningful compensation for the fact that what they take away are wasting resources from which the country cannot hope to benefit again, a senior private sector functionary has told the Stabroek Business.

Critchlow Labour College working with T&T companies on Oil and Gas Academy

-MOU already signed

Having long established itself as a significant contributor to tertiary education in Guyana, the Critchlow Labour College is seeking to embrace the demand for training in the various disciplines associated with the country’s emerging oil and gas industry to rebuild its reputation as a major contributor to education delivery in Guyana.  

Kitco Market Data

Gold Prices for the three day period ending Thursday June 7, 2018 Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

Market Prices

The New Guyana Marketing Corporation has agreed to provide us with the above information which we will publish on a weekly basis subject to receipt.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 776’s trading results showed consideration of $15,388,834 from 248,679 shares traded in 24 transactions as compared to session 775’s trading results which showed consideration of $5,712,760 from 28,110 shares traded in 6 transactions.

The agro processing sector: Seizing the moment

The Stabroek Business has, in recent weeks, focused a considerable amount of editorial attention on the collaborative efforts involving government, the Guyana Manufacturing & Services Association (GMSA) and the agro processing sector, through initiatives like the UncappeD events and the lobbying efforts taking place at the level of exchanges between GMSA and government officials.