Business

Kitco Market Data Gold Prices for the three day period ending Thursday June 11,2020

*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.

There can be no mistaking the reality that the Trump administration in the United States is ‘going for the jugular’ against the administration of President Nicholas Maduro in Venezuela.

Whereas unlike in other countries, some even here in the Caribbean, where the onset of COVID-19 has placed the issue of food security close to the top of the national agenda, this thankfully has not been the case in Guyana.

For all the reality that the protracted closure of the City Mall has created hardships for people who ply their trade inside the facility (the same can be said for other businesses across the country), not everyone will be particularly comforted by its sudden re-opening.

In one of the more telling indicators yet that Guyana’s western neighbour, Venezuela, has fallen on seriously hard times, the country’s President, Nicholas Maduro, announced on Sunday that beginning last Monday, the country officially credited with possessing the single largest reserves of oil anywhere, has set aside its long-standing policy of providing citizens with gasoline at highly subsidised prices.

A recent study undertaken by the International Energy Agency (IEA) and Imperial College, London, reported in the Business Green on Friday that shares in firms investing in renewable energy not only “significantly” outperformed fossil fuel stocks in some of the world’s richest countries but also “displayed far more resilience to the disruption caused by the coronavirus pandemic” since the beginning of 2020.

With Latin America and the Caribbean facing the COVID-19 pandemic “from a weaker position than the rest of the world” there is, as yet, no telling what the pandemic’s economic impact on the region is likely to be at this stage, according to a recent assessment undertaken by the Economic Commission for Latin America and the Caribbean (ECLAC).

The global onset of the coronavirus and the attendant need for health-related responses have exposed the debilitating limitations of the health services in Latin America and the Caribbean countries, says a recent report prepared by the Economic Commission for Latin America (ECLAC).

(Jamaica Gleaner) CIBC First Caribbean Interna-tional Bank, which operates in Jamaica and throughout the region, recorded a net loss of US$110 million for the April second quarter, due to the impact of COVID-19 on its operations.

As the still rampaging coronavirus pandemic persists, compelling companies to consider and increasingly, implement work-from-home policies, rich countries are, in more ways than one, reaping the benefits of their technological advancement.

*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.

Gold Prices for the three day period ending Thursday June 4,2020 Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

On May 19 last, the Ministry of Agriculture, through its Rural Affairs Secretariat, announced its COVID-19 Kitchen Garden Initiative.

As the coronavirus (COVID-10) pandemic continues to pose a threat to food security in the region, several Caribbean nations have met to discuss methods to protect its supply.

A recent article published in the name of the International Rice Research Institute (IRRI) is suggesting that the impact of the COVID-19 virus could cause rice to be a critical factor in the food security of as much as 30 per cent of the world’s population.

Local small businesses affiliated with the country’s Small Business Bureau (SBB) will be breathing a sigh of relief over last week’s announcement that they can anticipate some measure of financial relief from government in the light of the current slowdown of the country’s economy and the attendant reduction in commercial activity arising out of the onset of the COVID-19 pandemic.

If the economic strain being imposed on countries in poor regions like the Caribbean is creating pressures for an accelerated reopening of the business sectors in the respective countries in the wake of the onset of COVID-19, the World Health Organization (WHO) is still urging caution arising out of concerns that a poorly-timed return to ‘business as usual’ could have a disastrous downside.