Daily Archive: Wednesday, April 15, 2009

In the worst case scenario of liquidation, the liabilities of CLICO (Guyana) will exceed its assets by $11.9 billion dollars, Judicial Manager, Maria van Beek said in a report submitted to the High Court yesterday.

-aims to slash costs by $3b this year The GuySuCo interim board yesterday submitted a five-year plan for improvements in management, significant cost cutting measures and maximum productivity in the field to lift the country’s key foreign exchange earner out of a production slump.

The judiciary’s policy of accepting guilty pleas to the lesser count of manslaughter by men who have slaughtered their wives and lovers must be changed immediately, according to Speaker of the National Assembly Ralph Ramkarran, who is urging prosecutors to “stop the carnage” and for judges to “simply shape up” in domestic violence cases.

-Chattergoon hits first ton as captain Host Guyana and their visitors Barbados played to a tame draw in their final round match of the West Indies Cricket Board (WICB)-sponsored Headley/Weekes regional four-day match at the Guyana National Stadium, Providence yesterday.

By Rawle Toney President of the Guyana Amateur Basketball Federation (GABF) retired Col.

Relatives of the teenager, who was fatally shot on Main Street on Saturday by a policeman, have vowed to pursue the matter and Crime Chief Seelall Persaud says that following investigations the file will be sent to the Police Complaints Authority for recommendations.

Public urged to watch out for oil slicks The fuel leak, which occurred from the Kingston Branch of the Guyana Power and Light (GPL) on Sunday, was caused by one of two HFO bulk storage tanks failing, the power company has said.

-top three also qualified for Italy games By Rawle Toney Guyana’s lone gold medallist in the 38th Junior CARFITA Games Jevina Straker is overjoyed about her victory and proud to have snagged the top prize for her country as well as the opportunity to participate in the World Youth Championships (WYC) in Italy.

GT&T commissioned another cellular site at Lethem recently in anticipation of an increase in the pace of development and in cross- border traffic once the bridge across the Takutu River is officially opened.

Government held consultations with residents of the Essequibo River islands of Leguan and Wakenaam in relation to the construction of airstrips on both islands.

Members of the Guyana New York Sports Association (GNYSA) have begun to arrive to assist in the run off the 2009 LinWest Games, which are scheduled to be held this Sunday at the Enmore Community Centre Ground.

A Kuru Kururu man died early yesterday morning after he was struck down by a motor lorry on the Linden/Soesdyke Highway, police said, while noting that road fatalities are up compared to the same period last year.

National female Under-19 captain Shemaine Campbell has been selected to lead Berbice in the Guyana Cricket Board (GCB) Female Inter-county 50-overs a side tournament.

ST THOMAS, US Virgin Islands, CMC – Leeward Islands survived a scare from the Windward Islands before securing a 28-run victory, 25 minutes before lunch on the final day of their final round WICB Regional four-day match yesterday.

Acting Chief Magistrate Melissa Robertson yesterday remanded two men to prison on charges of stealing a laptop computer, a quantity of cash and several other items from two medical students.

WASHINGTON, (Reuters) – U.S. President Barack  Obama said yesterday his economic measures were starting to  work but government data showed an unexpected drop in U.S. 

Dear Editor, The report that President Jagdeo will agree to an investigation into what transpired at Clico only if there is a corresponding investigation into the affairs of Globe Trust should be welcomed. 

LONDON, (Reuters) – Chelsea reached the Champions  League semi-finals for the fifth time in six seasons after a  thrilling 4-4 draw with Liverpool put them through 7-5 on  aggregate against their Premier League rivals yesterday.

A Prashad Nagar resident was shot in his abdomen early yesterday morning by a gunman who subsequently drove off with his motor car containing some $1.3M.

RIYADH, (Reuters) – Saudi Arabia plans to regulate  the marriages of young girls, its justice minister was quoted as  saying yesterday, after a court refused to nullify the marriage  of an 8-year-old to a man 50 years her senior.

LOS ANGELES, (Reuters) – Oscar De La Hoya, the  “Golden Boy” who has held world titles in six different weight  classes, announced his retirement from the ring on Tuesday.

Dear Editor, I am deeply saddened by the passing of Dr M Y Bacchus.

-restates that bank ‘highly liquid’ The Bank of Guyana (BoG) says that it authorized a temporary shortfall in the reserve requirement for the Guyana Bank for Trade and Industry (GBTI) in order to complete an approved transaction, and referred to its actions as “nothing irregular or unusual”.

-escapes with cash after daring hold-up A lone gunman posing as a customer held up the Demerara Mutual Life Insurance Company building at Main and Wapping Lane, only a stone’s throw from Central Police Station, in New Amsterdam, escaping with $84,000 in cash after a bold daylight robbery.

Dear Editor, I have recently read in your edition of April 10, 2009 (‘What is the level of related party transactions between Guyana Stockfeeds Inc and Mr Robert Badal?’),

BANGKOK, (Reuters) – Thai anti-government  protesters in Bangkok surrendered yesterday, giving the  harried prime minister some breathing space to try to fix the  worsening economy.

CASTRIES, St Lucia, CMC West Indies ace player Stafanie Taylor registered a sturdy all-round performance for Jamaica to defeat Guyana by four wickets in the final of the West Indies Under-19 women’s cricket championship on Sunday.

Dear Editor, In my letter published in Stabroek News of August 13, captioned ‘It is not too late for President to honour promises to Globe Trust depositors,’ I wrongly calculated the value of the 5,404 deposits of Globe Trust with balances up to $100,000 as $540.4M.

Police are investigating the death of a 72 year old security guard following an accident on the Grove Public Road, East Bank Demerara on Monday night.

SEOUL, (Reuters) – North Korea ordered U.N.  inspectors to leave yesterday after saying it would quit  international nuclear disarmament talks and restart a plant  that makes bomb-grade plutonium, the United Nations said.

DETROIT, (Reuters) – Ben Gordon’s tie-breaking  lay-up with 14 seconds left gave the Chicago Bulls a 91-88 road  win over the Detroit Pistons, lifting the visitors into sixth  place in the Eastern Conference on Monday.

Dear Editor, I thank you for publishing my letter on March 26, 2009 (‘The Bank of Guyana must improve its monitoring and inspection activities…’) drawing attention to the unhealthy relationships existing among Clico, NIS, New Building Society (NBS), Hand-in-Hand Trust and the Berbice Bridge Company and their unsafe, imprudent, sometimes illegal investment actions which have already resulted in the loss of billions of other people’s money in the Stanford Ponzi scheme and Duprey’s greedy expansion plans, and placed at risk billions invested in a bridge.

DUBAI, (Reuters) – Pakistan skipper Younis Khan  wants his players to stay positive and cash in on being fresher  than Australia in their five-match one-day series in the United  Arab Emirates from April 22.

(Jamaica Observer) A three-year-old boy on Monday afternoon used his aunt’s service revolver, which he snatched from beneath her pillow, to shoot and kill his five-year-old brother at their home in Clarendon, according to police sources.

President Bharrat Jagdeo says a plan will soon be effected to repair the main access road to the Mahaicony Creek after recently traversing the road and denouncing it as “atrocious.”

HAVANA, (Reuters) – Former Cuban leader Fidel  Castro said yesterday Cuba had no desire to rejoin the  Organization of American States, as called for by some of his  allies, and did not even want to “hear the vile name of that  institution.”

Dear Editor, Ms C Springer, your Editor, from her chair in the newsroom asserts for my instruction that “domestic violence exists in all races, classes and in every sector of society.”

WASHINGTON, (Reuters) – Haiti yesterday won $324  million in new commitments from donors for the next two years  to rebuild the poorest country in the Americas.

AUGUSTA, Georgia, CMC – Despite his meltdown on a dramatic final day at Augusta National on Sunday, Trinidad & Tobago’s Stephen Ames said he was still pleased with his fifth outing at the Masters tournament.

NEW YORK, (Reuters) – An experimental medicine  from Dendreon Corp improved survival in men with advanced forms  of prostate cancer, the company said yesterday, bolstering  chances of it becoming the first approved therapeutic vaccine  for any type of cancer.

BRASILIA, (Reuters) – Brazil said yesterday that  the U.S. lifting of limits on family travel and remittances to  Cuba was a good first step but that it should not require  gestures from the Cuban government before dismantling trade  sanctions against the island.

HOUSTON,  (Reuters) –  Allen Stanford, who is  accused of an $8 billion fraud by U.S.

Dear Editor, Have the daily newspapers boycotted the publicizing of the traditional celebrations of Good Friday and Easter, and perhaps even Palm Sunday?

A perusal of the Trinidad & Tobago press during the last month or so indicates a mounting, and somewhat surprising, crescendo of mostly negative comment, on the decision of the Government of Trinidad & Tobago to host the forthcoming Summit of the Americas.

LONDON, (Reuters) – Cristiano Ronaldo is on course  for a hat-trick of PFA Player of the Year awards after being  included in the nominations released yesterday.

Yesterday in our editorial titled ‘Schooldays can be dangerous’ we made reference to the stabbing of a student in Bishops’ High School compound.