Business

-Chamber President More private sector jobs are likely to be lost in the period ahead as the business community continues to make adjustments to their operations in an effort to stave off the worst effects of the ongoing global economic crisis.

A report received by the Stabroek Business from, the Georgetown Chamber of Commerce and Industry (GCCI) on the outcomes of two recently concluded marketing  seminars conducted in Linden and Georgetown by Pace University Marketing Professor Harvey Markovitz has pointed to the timiliness of the intervention given the challenge of shrinking international markets being faced by Guyana’s  business community.

Georgetown Chamber of Commerce and Industry (GCCI) President Chandradat Chintamani has issued a call to members of the business community who have been seriously delinquent in remitting employee contributions to the National Insurance Scheme (NIS) to discharge their obligation to the NIS and to contributors, many of whom may have no other source from which to finance the costs of their medical needs.

Grants, interest-free loan requests reach record US$13 billion In the face of a lack of adequate public sector financing to respond to the  current global economic crisis the World Bank has identified encouraging private sector business activity as  critical to  the global recovery effort.

Michelle Campbell and the business of Beauty Care Michelle’s Fantasy Hair Care is one of the more recent additions to a growing local beauty care industry that continues to open up opportunities for skilled and enterprising Guyanese seeking to make their way in the world of business.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 308’s trading results showed consideration of $938,141 from 71,840 shares traded in 10 transactions as compared to session 307 which showed consideration of $323,641 from 30,180 shares traded in 8  transactions. 

Last Friday our cameraman caught this coconut vendor who plied his trade in public road, La Penitence preparing for the trading day.

Industry open to alternative methods that make business sense Executive Secretary of the Guyana Gold and Diamond Miners Association, Edward Shields has told Stabroek Business that the mining sector is not necessarily wedded to the use of mercury in the gold reclamation process.

– but Guyana wants increased resource flow, removal of disbursement bottlenecks The Caribbean Development Bank (CDB) must move quickly to increase the net flow of resources to its Borrowing Member Countries (BMCs) if it is to play its expected role in helping those countries to confront the food security and other challenges confronting them at this time, according to Finance Minister Dr Ashni Singh.

There has hardly been a period over the past thirty-odd years when this country has not been plagued by problems associated with the inability of the local power company to provide a reliable supply of electricity.

Controversy over mercury use in mining activity  and its impact on the environment has impacted significantly on the image of the mining sector in Guyana.

Three Caribbean Community (Caricom) countries, Jamaica, Barbados and Trinidad and Tobago are moving ahead with the setting up of local Economic Partnership Agreement (EPA) implementation units aimed at assisting Cariforum countries to capitalize on funding avenues which are expected to be made available by the European Union but Guyana’s is not far advanced.

– says businessmen must be able to engage the media without fear or prejudice The critical importance of the private sector to restoring the fortunes of the Guyana economy requires that there be greater, more involved interaction between the business community and the media, according to President of the Guyana Manufacturers and Services Association (GMSA) Ramesh Dookhoo.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 307’s trading results showed consideration of $323,641 from 30,180 shares traded in 8 transactions as compared to session 306 which showed consideration of $249,400 from 18,450 shares traded in 7 transactions. 

Private sector entities seeking to take advantage of trading opportunities available to Guyanese businesses under Free Trade Area (FTA) Agreements with countries in the hemisphere will benefit from a series of workshops which manufacturers association President Ramesh Dookhoo says are designed to provide participants with “critical information” regarding approaches to doing business with those countries.

(Prepared by the Guyana Marketing Corporation and published by Stabroek News Business as a public service.)

…past economic policy failures also a factor President of the Caribbean Development Bank, Dr Compton Bourne has said that while the global economic and financial crisis currently affecting  the bank’s Borrowing Member Countries (BMC’s) is a consequence of severe external economic shocks,  vulnerability to the  crisis has been accentuated by past economic policy failures.

First quarter bauxite production plunges “Tentative” production figures released to Stabroek Business by the Guyana Manufacturing and Services Association (GMSA) indicate a drastic reduction in bauxite production for the first quarter of 2009, a circumstance which GMSA President Ramesh Dookhoo says reflects the dramatic shrinkage in the world market demand for the commodity.