GMSA pushing for 20% of agro-processed foods to come from local producers

The delegation representing the Guyana Manufacturing & Services Association (GMSA) says that one of the “immediate solutions” to the challenges facing the local manufacturing sector could be to have a greater share of public procurement sourced from local agro processors providing the product is available and of suitable quality and competitive price”.

Rice exports facing supply crisis

-Gov’t input needed to bring more lands under cultivation, says Nand Persaud CEO

The Head of one of the country’s leading players on the international rice market has told Stabroek Business that the expansion of Guyana’s rice sales on the international  market could come under serious threat unless the industry undergoes urgent expansion of lands for rice cultivation and modernization of other critical operational aspects of the country’s industry. 

Ministry of Business Column

Business Environment Reforms: A Ministry of Business Perspective

An accommodating business environment is one that encourages business efficiency and incentivizes innovativeness and increased productivity, two key sustainable development factors.

Kitco Market Data

Gold Prices for the three-day period ending Thursday May 24, 2018Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

Agro–processing on the up and up

If the adage about one swallow not making a summer clearly applies to the recent initiatives by the Government of Guyana and the Guyana Manufacturing and Services Association (GMSA) to attempt to breathe new life into the country’s agro-processing sector, it would be churlish not to acknowledge the recent developments in the sector and what we should be reading into it.

Market Prices

(Prepared by the Guyana Marketing Corporation and published 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.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 774’s trading results showed consideration of $106,100 from 5,125 shares traded in 3 transactions as compared to session 773’s trading results which showed consideration of $20,537,831 from 62,847 shares traded in 7 transactions.

Regional aviation handlers for 15th AGM in Guyana today

Guyana’s aviation sector will record a modest but important milestone today when it commences the hosting of the 15th Annual General Meeting of the Caribbean Aviation Handlers Association (CAHA) in the country’s capital, Georgetown.

UG School of Business hosting inaugural entrepreneurship forum

A significant step in the direction of forging the long sought closer ties between the University of Guyana and the country’s business community will be taken this weekend when the university’s recently established School of Entrepreneurship and Business Innovation (SEBI) commences its first ever Entrepreneurship   and Innovation Conference under the theme “Economic Transformation through Entrepreneurship   & Innovation.” The Conference, which will held from May 20 to May 22 at the Ramada George-town Princess Hotel gives effect to an undertaking given by UG Vice Chancellor, Professor Ivelaw Griffith during an extended interview with the Stabroek Business some months ago that he was aiming to have SEBI play a role in creating meaningful linkages between UG and the local business community.

Bankers Association: T&T recovery at fragile stage

(Trinidad Guardian) The Bankers Association of Trinidad & Tobago (BATT) has noted the optimism by Finance Minister Colm in his 2017/2018 mid-year budget review but said there is still a lot of work to be done to consolidate the gains made and press ahead with restructuring public finances.

For Big Oil, reserve size matters less than ever

LONDON,  (Reuters) – A decade ago, the news that the world’s top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off in their shares.

Kitco Market Data

Gold Prices for the three-day period ending Thursday May 17, 2018

Impediments to CARICOM free trade raised again at COTED

-recourse to CCJ mentioned

-honey, duck meat among items facing hurdles If the Council for Trade and Economic Development is to take seriously long outstanding issues, particularly those relating to non-compliance by member states based on provisions of the Revised Treaty of Chaguaramas, consideration must be given to their rights to take those matters to the Caribbean Court of Justice.

Caribbean soft drink companies sparring over sugar content in carbonated beverages

Even as the World Health Organization (WHO) intensifies its global lobby for a sharp reduction in the sugar content of popular soft drinks on health grounds, the regional soda industry is seizing hold of the issue as a selling point for its own sugar-based beverages, through claims that they have moved to reduce sugar levels in their products.

Checks and balances

There can be no question than that the high rate of urban unemployment and what is widely believed to be a consequential high rate in the commission of crimes, both petty and significant ones, that those institutions responsible for managing the affairs of the capital at the levels of both local and central government have a responsibility to do what lies within their authority and their resources to create meaningful and sufficient employment for residents of the capital.

Paltry tourism investment, marketing leaves Mainstay’s potential unrealized

None of its natural features make a more eminent case for Essequibo’s potential as one of Guyana’s most attract tourist destinations than its tranquil and idyllic lakes, not least Lake Mainstay, located at the Mainstay/Whyaka Amerindian Village, seven miles from the region’s administrative hub at Anna Regina and a twenty-minute plane ride from Georgetown.

Business Support Organizations ill-equipped to meet private sector needs

-former GCCI President

Former Georgetown Chamber President, Vishnu Doerga wants local Business Support Organizations (BSO’s) to improve their capacity to provide advocacy, technical support and other services to the country’s private sector, responsibilities which he says, are not being discharged effectively at this time.

After PetroCaribe: Brazil now leading rice supplier to Venezuela

Amidst its political and financial crisis and seemingly in response to widely reported food shortages in the country Venezuela is reportedly continuing to import significant quantities of rice since parting company with the 2009 rice for oil (PetroCaribe) deal with Guyana. 

Essequibo boat-building benefitting from fishing industry

If fishing has always been an integral part of Essequibo’s economy there is evidence that the transformation that has descended upon business in  the region has rendered the fishing industry increasingly important to the livelihoods of its residents.

Ministry of Business Column

The use of an Electronic Single Window to facilitate trade

Trade facilitation plays a vital role in economic growth and development and impacts in a measurable way on the ease of doing business in various countries.

What to do about Guyana’s craft industry

Local craftsman Lance Mc Pherson talks with Stabroek Business

At fifty-three, work and family having long been at the very centre of his existence, Lancelot McPherson says that the time is long overdue for a frank, open and decidedly public conversation on the local craft industry if it is ever to come even remotely close to fulfilling its potential as much as a viable sector of the country’s economy as well as a vehicle for satisfying both the economic and the creative cravings of the nation’s huge army of largely talented craftspeople.

Princess Cosbert’s Herbal Teas

Nature’s Finest…

Thirty-two-year-old Princess Cosbert’s story of how, about two years ago, she came to establish an enterprise that is beginning to make its name as a manufacturer of what is commonly referred to in Guyana as ‘bush’ tea (teas brewed from an assortment of leaves, vines, barks, berries and flowers that grow randomly in various parts of the country) is not one that you are likely to forget easily.

Kitco Market Data

Gold Prices for the three day period ending Thursday May 10, 2018Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 772’s trading results showed consideration of $33,064,349 from 252,766 shares traded in 16 transactions as compared to session 771’s trading results which showed consideration of $4,098,604 from 69,362 shares traded in 10 transactions.

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.

Arresting corruption in food safety system

The announcement last week that the Guyana Revenue Authority (GRA) had intercepted a boat containing cargo (foreign chicken and mosquito coils) seemingly intended for illegal placement on the local market, makes two points; first that the GRA, through its enforcement mechanisms, now appears more determined to thwart customs evasion by smugglers and to improve on the collection of such revenues as accrue to the state.

Yonette McPherson’s ‘Eat to Live’ Achars

UncappeD Marketplace

Yonette McPherson typifies the dogged determination of the thousands of Guyanese comprising the agro-processing community, whose pursuits are shaped, mostly, by a necessity to make a living that is both honest and adequate.

Guyana produces 80,000 tons of fruit annually

It was Guyana’s abundant supply of a range of tropical fruit and their value-added potential that largely influenced the decision by vintner, Warren Douglas to part company with the United States and return home.

Watermelon exporter aiming to reap benefits of NAREI research

At least thrice monthly, the local company, Biso Investments exports shipments of fresh fruit and vegetables, including pineapple, watermelon, ground provision, and pumpkin to Barbados under an arrangement with two supermarkets on the CARICOM island.

Paddy Prices

As a service to Guyana’s rice industry the Stabroek Business has agreed to publish,weekly, beginning with this issue, prices paid to farmers supplying paddy to Mills in the various regions of Guyana

Market prices

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

Kitco Market Data

Gold Prices for the three day period ending Thursday May 03, 2018