Business

Industry and Commerce Minister Manniram Prashad
Industry and Commerce Minister Manniram Prashad

Commission lacks power to impose penalties under new act

A lack of “direct powers” of immediate and effective sanction by the now renamed Competition and Consumer Affairs Commission could impact negatively on the intention to provide a more generous measure of justice to consumers, the real intention behind the Consumer Affairs Act assented to in the National Assembly recently, according to a spokesman for the Guyana Consumers Association (GCA).

LUCAS STOCK INDEX LSI  In the last week of trading for the month of June 2011, the LSI increased by a mere half of one percent.  The slight movement in value came from the trade of the stocks of three companies namely Banks DIH (DIH), Demerara Distillers Limited (DDL) and Republic Bank Limited (RBL).  DDL posted a 3.77 percent increase while DIH and RBL recorded no gain.  Despite the small change in value, the index now exceeds the risk-free Treasuries due to mature in December 2011 by nearly 12 percentage points.
LUCAS STOCK INDEX LSI In the last week of trading for the month of June 2011, the LSI increased by a mere half of one percent. The slight movement in value came from the trade of the stocks of three companies namely Banks DIH (DIH), Demerara Distillers Limited (DDL) and Republic Bank Limited (RBL). DDL posted a 3.77 percent increase while DIH and RBL recorded no gain. Despite the small change in value, the index now exceeds the risk-free Treasuries due to mature in December 2011 by nearly 12 percentage points.

Economic victory for Victoria

Pride One year ago, the people of Victoria convened their first Indaba (conference) to confront the economic plight and dim development shadow that hovers over the village. 

Samsung trainer Andreas Angel with Starr Computer trainees earlier this week

Samsung conducts training courses for Starr employees

Starr Computer Inc has commenced collaboration with the internationally renowned information technology company Samsung under a recently concluded distribution agreement by hosting two of the South Korean giant’s personnel to conduct training for its staff in the areas of technical support and administrative services.

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.

Stock market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 414’s trading results showed consideration of $290,525 from 13,007 shares traded in 3 transactions as compared to session 413 which showed consideration of $854,608 from 98,531 shares traded in 7 transactions. 

The Consumer Affairs Act

Though no definitive pronouncement can be made on the real value of the new Consumer Affairs Act until we see how it works in practice, it has to be said that its intentions, as set out in the actual document are to be applauded.

Focus on the fields: Agriculture Minister Robert Persaud on a 2007 Enmore Estate visit.

GuySuCo hamstrung by skills shortages

Erratic rainfall patterns and shortage of capital pose perpetual threats to efforts to restore the sugar industry to a condition of viability, but the Guyana Sugar Corporation’s (GuySuCo) Board of Directors has also identified its skills’ shortage as an equally formidable hurdle to be crossed in the quest to salvage the industry.

A reputation for quality: A collection of jewelry made by Kings Jewelry World, one of Guyana’s leading jewelry establishments.

Local jewellers confirm problem of poor quality jewellery

Some local jewellers are guilty of passing off poor quality gold jewellery as top-of-the-line, high-carat items, stakeholders say, insisting that the largely unregulated nature of the industry poses a near insurmountable challenge to efforts to stamp out the practice.

LUCAS STOCK INDEX  The LSI increased over four percent on trading of the stocks of four companies.  Republic Bank Limited (RBL) recorded an increase of over 14 percent while Banks DIH (DIH) increased over four percent.  While the stock of Caribbean Container Incorporated (CCI) showed no change, that of Demerara Distillers Limited (DDL) declined by more than three percent.  As a result, the index exceeds the risk-free Treasuries due to mature in December 2011 by more than 11 percentage points.

The ties that bind

Legal Jeopardy One of the busiest market places in Guyana is the cambio, where foreign currency is bought and sold daily. 

A typical Caribbean kitchen garden

Caribbean governments pushing kitchen gardens

Having faced much criticism over what has been regarded as their general indifference to the need for local responses to persistent warnings of an impending global food crisis, it appears that Caribbean governments are beginning to make modest responses.

CBA Chairman George Mc Donald

Banks hosting technical meeting of Caribbean brewers

The Caribbean Brewers Association (CBA) opened its two-day technical conference at Thirst Park in Georgetown yesterday with a presentation by CBA Chairman and Banks DIH Ltd Assistant Managing Director and Marketing and Sales Director George Mc Donald.

Stock Market updates

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 413’s trading results showed consideration of $854,608 from 98,531 shares traded in 7 transactions as compared to session 412 which showed consideration of $9,586,059 from 839,957 shares traded in 4 transactions. 

GGDMA Executive Secretary Edward Shields

Shields doubts gold declaration due to smuggling

Differences of opinion have surfaced between the Guyana Geology and Mines Commission (GGMC) and the Guyana Gold and Diamond Miners Association (GGDMA) following last week’s expression of concern by GGMC Chairman Major General (rtd) Joe Singh over the difference between gold production targets and declarations to the Guyana Gold Board.

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