Business

Illegal mining

Local banks appear to have been slow to respond to a new United States tax compliance law which will require them to provide the US Internal Revenue Service (IRS) with financial information on US citizens possessing local bank accounts containing amounts exceeding US50,OOO (G$100 million) or foreign entities in which U.S.

Both of the major expatriate investors in Guyana’s bauxite industry have announced that they are pumping more money into equipment with a view to taking advantage of anticipated significant increases in demand for the product in the years ahead.

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

Over time the private sector has invested heavily in programmes designed to equip its workforce with the required skills to enable them to function effectively.

This is the second in a series of three articles on Performance Management Practices prepared for The Stabroek Business by the Mersu Caribbean Consulting Group, a Trinidad and Tobago-based Strategic Marketing, Image Management and Business Consulting Group By Averil Williams In a prior editorial, you were introduced to performance management defined as the approach and process of managing a business.

Having given up the corporate rigours of an influential directorship of a family shipping company, Farhaud Amin has assumed a quieter, though, arguably no less important role in the local business community as the sole owner of a new enterprise through which, he says, he hopes to contribute to “galvanizing business” in Guyana.

Controversy continues to attach itself to the Chinese commercial presence in the region the latest brouhaha arising out of what Antiguan hoteliers and restaurateurs regard as trading practices designed to corner the local lobster market and place the high-priced delicacy beyond the reach of the local consumers.

Newly elected President of the Georgetown Chamber of Commerce and Industry (GCCI) Clinton Urling has said that a point has now been reached in the protracted discourses between the government and the private sector on the issue of tax reform where there is need for “a timeline” for the effective and efficient” settling of the issue.

Business Cartoons

Guyana is by no means the only country in the world where the utility entities and public facilities are targeted by thieves seeking to strip those installations of metal infrastructure in order to cash in on a lucrative global scrap metal industry.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 456’s trading results showed consideration of $1,412,513 from 115,081 shares traded in 14 transactions as compared to session 455 which showed consideration of $1,412,799 from 116,442 shares traded in 8 transactions. 

A report out of Kingston has indicated that a Jamaican airline, Fly Jamaica, has announced its intention to commence operations between Jamaica and Guyana.

Evidence of heightened economic activity as reflected in the number of high rise buildings being erected in the New Amsterdam area may be concealing more deep-seated economic problems in parts of Region Six where the too few jobs manifests itself in evidence of idleness particularly among young people.

New opportunities may lie on the horizon for Guyanese women in business following the establishment in March of a regional organization named Women Entrepreneurs (WEN), a US State Depart-ment-backed organization that is concerned with identifying resources available through international organizations with which to support the growth and development of women-run enterprises in the region.

Fly Redjet

Officials of the Guyana Telephone and Telegraph Company (GT&T) were yesterday due to undertake a “walk through” in the Sophia community in an attempt to tackle what company sources say has been renewed acts of vandalism against its telecommunications infrastructure targeting the company’s insulated copper cable.

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. 

Trading with Europe still tough despite EPA Trading with Europe is likely to continue to prove difficult despite the presence of the CARIFORUM Economic Partnership Agreement (EPA) and Barbadian businesses are coming to terms with the reality that

Norman Nicholson is not what one might call a run-of-the-mill minibus operator.