Business

Five months after Chairman Robin Stoby declared GBTI’s intention to assume the number one position in the country’s banking sector, the bank’s new $700 million branch at Diamond on the East Bank, Demerara provides a clear indication of the earnestness of its ambition.

The smuggling of cigarettes from Suriname into Guyana could be costing the public treasury as much as $1 billion in lost revenue according to Chief Executive of the Demerara Tobacco Company (DEMTOCO) Chandradat Chintamani.

The Upper Corentyne Chamber of Commerce and Industry (UCCI) is willing, in principle, to support the Guyana Revenue Authority (GRA) in its efforts to curb trans-border smuggling between neighbouring Suriname and Guyana, but needs to depend on its members to provide verifiable information for submission to the revenue authority.

Cross border smuggling is nothing new to Guyana and given our open and ill-protected entry points, restricting the practice requires a level of resources which the Government of Guyana has never quite been able to afford and will probably not be able to afford for a long time.

The Business Cartoon

(Part five of our series on capital markets) The Business Cycle In order to beat the market, you should be able to forecast the market correctly and properly.

Berbice boasts the fastest growing economy in Guyana with the greatest potential to provide jobs and accommodate new businesses, according to President of the Upper Corentyne Chamber of Commerce Vishnu Doerga.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 388’s trading results showed consideration of $2,156,160 from 83,247 shares traded in 6 transactions as compared to session 387 which showed consideration of $1,524,833 from 25,346 shares traded in 10 transactions. 

Digicel’s Chief Executive Officer (CEO) Gregory Dean on Tuesday signalled his company’s eagerness to see the recent completion of draft legislation on the liberalisation of the country’s telecommunications sector followed by an acceleration of the process towards the end to the monopoly being held by the Guyana Telephone and Telegraph Company (GT&T).

Local apiculture expert and executive member of the Guyana Beekeepers Association Linden Stewart said the goal of Guyana becoming an exporter of honey to the Caribbean and further afield is still “some way off” but local conditions continue to hold promise for the success of the industry.

It would be by no means an exaggeration to state that this week’s hasty backing away by the sugar corporation from its threat to de-recognize the Guyana Agricultural and General Workers Union (GAWU) was a demeaning and undignified experience for the leadership of the company.

Hot water

Public Procurement Last week, reference was made to the non-creation of the small business bureau as an example of an institutional problem that causes lower returns on the investments of Guyana. 

ANALYSIS OF SECURITIES MARKETS Global markets have become more closely correlated.

A broad range of issues associated with the application of techniques to the processing of selected local fruit and vegetables are outlined in the recent agro-processing manual prepared by the Ministry of Agriculture.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 387’s trading results showed consideration of $1,524,833 from 25,346 shares traded in 10 transactions as compared to session 386 which showed consideration of $2,563,277 from 73,889 shares traded in 27 transactions. 

Having studied the Draft legislation and regulations, we are left with numerous concerns – concerns which, if not clarified, will create investor and consumer uncertainty: for example, would it not amount to a rewarding of illegality if a currently illegal operator is automatically granted a licence with the introduction of the new legislation?

Hank and Navini Omar symbolize a fast-growing generation of younger Guyanese who are pursuing conventional academic studies but keeping an eye on entrepreneurial opportunities as an option to salaried employment.

Even as the New Guyana Marketing Corporation (GMC) continues to lend its support to local producers in an effort to increase the consumption of locally produced foods during the holiday season, efforts to accelerate relationships between manufacturers of agro processed goods and local supermarkets and other outlets will be stepped up in the new year.

Things like assets, capital, and inventories might be exciting to talk about in the classroom in pursuit of an A grade or in the boardroom of a company to ensure that company profits are heading in the right direction.