Rawle Lucas

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Disqualified

Sincerity Recent news reports indicated that the Public Accounts Committee (PAC) on Monday ended up approving staffing appointments and promotions of persons working in the office of the Auditor-General (AG). 

LUCAS STOCK INDEX LSI In the first week of June the Lucas Stock Index (LSI) gained 1.29 per cent.  This was attributable to a rise in the stock value of Caribbean Container Inc (CCI) and Demerara Tobacco Company (DTC) which rose 0.67 and 10.64 per cent respectively.  As a result, the LSI exceeds the yield on the 364-day risk-free Treasuries that will mature in December 2012 by over seven percentage points.

Is Datang likely to take over GT&T fully?

Satisfactory first quarter The Guyana Telephone and Telegraph Company, generally referred to as GT&T, was formed in 1991 after the Government of Guyana (GOG) under the late President Desmond Hoyte sold an 80 per cent share of the state-owned entity Guyana Telecommunications Corporation (GTC) to Atlantic Tele-Network, or ATN. 

LUCAS STOCK INDEX LSI The LSI lost 0.61 percent in trading in the third week of May 2012.  Two of the three stocks that traded lost value.  Banks DIH (DIH) lost 1.38 percent while Demerara Bank Limited (DBL) gave back almost all the gains of last week in losing 3.12 percent of its value.  Demerara Distillers Limited (DDL) eked out a gain of 0.92 percent to record the only positive movement by stocks this week.  As a result, the difference between the index and the yield of the 364-day Treasury Bills fell below five percentage points.

An inconsistent performer

Needed Focus With the service sector accounting for two-thirds of the output of the economy, the behavior of major industries in that sector deserve some attention. 

LUCAS STOCK INDEX No stock trades occurred in the last week of April 2012.  As a result, the difference between the index and the yield of the 364-day Treasury Bills remained unchanged.

Stress test of a different kind (cont’d)

Targets Two things are obvious from the preceding week’s presentation.  The first is that both financial and non-financial institutions are targets of the FATCA law, and the other is that the new rules affect them in similar ways. 

The Service Sector

Critical Indicator The service sector is the largest sector of the Guyana economy in more ways than one. 

Raising hopes and aspirations

Early Appeal As Guyanese were coming to the endof the Lenten Season, they were presented with a new fiscal offering from the newly constituted Donald Ramotaradministration. 

LUCAS STOCK INDEX  The LSI remained unchanged in the first week of trading in April 2012.  All three stocks that traded, Banks DIH (DIH), Demerara Bank Limited (DBL) and Demerara Distillers Limited (DDL), recorded no change in value.  As a consequence, the index remained 2.43 points above the Treasury yield.

Power and finance

Scrutiny In the last few days, the Guyana Power and Light Company (GPL) has come under intense press scrutiny for a financial decision that it made about generators used in its operations.

LUCAS STOCK INDEX  The LSI declined 4.84 percent in the fourth week of trading in March 2012.  The decline was on account of a 9.33 percent drop in the price of the stock of Banks DIH (DIH) and the light trading on the exchange this week.  The stocks of DIH were joined by those of Demerara Distillers Limited (DDL) in trading this week, with the latter showing no change.  The loss pushed the index down to just 2.43 points above the Treasury yield.

Wanted: Public Assistance

Public Accountability Most times when there is an appeal for public assistance, it is the Police seeking help finding a suspect or some vulnerable community or needy individuals in search of government aid. 

LUCAS STOCK INDEX LSI  The LSI rose 0.10 percent in the second week of trading in March 2012.  The slight gain was achieved on account of a strong showing by the stock of Demerara Tobacco Company (DTC) which rose 9.49 percent, and with aid from Demerara Distillers Limited (DDL) which rose 0.94 percent.  The stock of Sterling Products Limited (SPL) remained unchanged.  The gain was lowered by the stock of Demerara Bank Limited (DBL) which fell 7.14 percent.   As a result, the index returned to positive territory this week.

Attitudes and the exchange rate

Sudden Obsession The issue of the value of the Guyana dollar versus other currencies keeps popping up lately in conversations at socials and on the street. 

LUCAS STOCK INDEX   The LSI rose by 0.2 percent in the second week of trading in February 2012.  Only the stocks of Banks DIH and Demerara Distillers Limited (DDL) traded this week and they both rose by nearly one percent.  As a result, the index recorded its edged up this week and reversed the declining trend of the last two weeks.

Considerable Differences

Differing Impressions After listening to the Presi-dent’s speech before the Parlia-ment last Friday, it was easy to see why many Guyanese were left with differing impressions of his remarks. 

LUCAS STOCK INDEX   The LSI declined by 2.39 percent in the first week of trading in February 2012.  The stocks of Demerara Bank Limited (DBL) declined by 16 percent while that of Demerara Distillers Limited (DDL) declined by nearly one percent.  The rise of the stocks of Guyana Bank for Trade and Industry (BTI) by four percent was insufficient to compensate for the losses.  As a result, the index recorded its largest decline for the year.

Drained and Irritated

Intentions At a sitting of the National Assembly today, the country was likely to hear the views and vision of President Ramotar as he addresses the members of the august parliamentary institution. 

LUCAS STOCK INDEX   The LSI declined by 0.55 percent in the fifth week of trading in January 2012.  The stock of Banks DIH (DIH) rose 8 percent while that of Republic Bank Limited (RBL) declined by 5.26 percent.  The other two stocks Demerara Bank Limited (DBL) Demerara Distillers Limited (DDL) showed no movement in price.  As a result, the index has recorded a 3.6 percent gain for the year.

A tough year for micro lenders

Dedicated Sometime in the not too distant future, the Institute for Private Enterprise Development (IPED) will hold its 26th Annual General Meeting to discuss the performance of the organization over the last year, and most likely attend to other housekeeping matters. 

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