Business

The commencement by ExxonMobil less than a fortnight ago of oil recovery from what is now firmly categorized as a “world class” oil find inside its Stabroek Block, while promising to yield lucrative medium to long term returns, it set to bring even quicker returns to the global standing of the company as a world super major.

Young and successful Berbice business owner Javed Raffik has been making gains in one of the largest industries in Guyana, the hardware business, since 2015, setting the pace for young entrepreneurs looking to start their own businesses as well. 

With the advent of the production of oil now set to place Guyana on a significantly improved footing in terms of the availability of resources to strengthen the country’s economic sectors, President David Granger has said that this year, if re-elected, government will be moving to ease the woes of the country’s manufacturing sector by providing it with an improved level of reliability in the electricity sector and the expansion of generation of electricity from sustainable sources.

While the 2010’s will be remembered as the decade in which the global 1% of humanity accumulated “unfathomable wealth,” it was, simultaneously, perhaps the best decade yet in terms of poverty alleviation, according to a Brookings Institute survey.

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

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.

In a matter of less than five years Guyana has ‘graduated from being a poor, underdeveloped country with little in terms of developmental transformation to look to, at least in the near to  medium term, to a country that has captured the attention of the international community on account of what experts have termed a “world class” oil find.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 858’s trading results showed consideration of $50,020,929 from 249,961 shares traded in 17 transactions as compared to session 857’s trading results which showed consideration of $3,523,147 from 13,926 shares traded in 10 transactions.

For a few days beginning on Friday December 20th when ExxonMobil announced its first ‘lift’ from its Liza 1 well in the Stabroek Oil Block to Monday December 23 when the news broke that a fifteenth oil discovery had been made at the Mako-1 Well southeast of the Liza field in the same Stabroek Block, Guyana grabbed the international headlines in a manner that it had never done previously.

Even as the global oil industry’s attention was fixed on developments like the continually unfolding reality of Guyana’s huge and potentially game-changing oil discoveries, the international community was considering the recent United Nations Climate Change engagements as significant disappointments if not failures in terms of delivery of any real progress in its climate change pursuits.   

If the Guyana Marketing Corporation (GMC) can claim to have attracted a fair measure of public attention and patronage at last Saturday’s final Farmers Market for 2019, it must surely be aware that it will have to set the bar somewhat higher next year if it is going to be able to lay legitimate claim to helping to create an expanded market for the increasing volumes of local agro produce, condiments and cosmetics being produced in Guyana.

In what is one of the earliest concrete recommendations from the manufacturing sector  regarding how the  Sovereign Wealth Fund (SWF) garnered from the country’s oil and gas earnings can be used to strengthen the other sectors of the country, the Guyana Manufacturing & Services Association (GMSA) says that it would wish to see resources from the Fund target the aggressive pursuit of the establishment of a value-added manufacturing sector, underpinned by deployment of a “cluster approach” by local small and medium-sized enterprises (SME’s).

Just how precarious the global food availability situation continues to grow is reflected in the contents of the latest Food and Agriculture Organization (FAO) Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities whilst assessing the status of food availability in countries around the world.

Gold Prices for the three day period ending Thursday December 26, 2019          Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

Nadia’s Craft Shop displaying bottles creatively transformed into attractive orniments

While we cannot but concede that oil and gas has, understandably, cornered the lion’s share of business reporting in 2019, the Stabroek Business’ focus on the small business sector over the past year has been a function its own deliberate and largely successful efforts to raise its national profile, considerable impediments and challenges notwithstanding.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 857’s trading results showed consideration of $3,523,147 from 13,926 shares traded in 10 transactions as compared to session 856’s trading results which showed consideration of $20,227,720 from 197,089 shares traded in 22 transactions.

Government on Wednesday evening was served by the Guyana Manufacturing & Services Association (GMSA) with an unmistakable reminder that the long-standing woes of the sector repose, overwhelmingly, in the protracted failure of successive political administrations to provide an electricity supply which, in terms of both quality and consistency meets the needs of a manufacturing sector striving for growth.