Business

Finding creative ways of bringing relief to Guyanese consumers at a time when the impact of the current economic downturn has resulted in reduced spending power ought to be one of the primary concerns of the local private sector, according to President of the Georgetown Chamber of Commerce and Industry (GCCI) Chandradat Chintamani.

some vendors uneasy over higher operating costs, falling sales Preparations are proceeding for the May 2 opening of the rehabilitated Water Street Vendors Arcade just months after the Mayor and City Council (M&CC) ordered the dismantling of shacks that had made the location an eyesore in commercial Georgetown.

This weekend’s Summit of the Americas marks a historic opportunity for the reshaping of hemispheric relations.

The head of a regional agricultural research and social policy consultancy has said that the Caribbean must see the current global food crisis as a “blessing in disguise” and use the opportunity that it affords to strengthen the region’s agricultural infrastructure.

A criminal waste of public funds This past week sections of the media have reported two separate cases of seeming official disquiet over failure on the part of private contractors to satisfactorily deliver on major tenders in the construction sector awarded them by the Government of Guyana.

banker says mainstream businesses must invest more in farming The need to create a more favourable commercial bank lending regime to spur “more intensive investment in the agricultural sector” has become “a priority for Guyana” in the face of the current economic crisis and the role identified by government for the sector in responding to the crisis, a senior official in one of the country’s commercial banks told Stabroek Business last week.

By Rawle Lucas Rawle Lucas is a Guyanese-born Certified Public Accountant and Assistant Vice-President of the Lending Services Division.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 299’s trading results showed consideration of $427,213 from 37,466 shares traded in 7 transactions as compared to session 298 which showed consideration of $419,870 from 11,300 shares traded in 7 transactions. 

regional official The Caribbean fisheries industry could face “trouble in the future” unless measures are taken to improve management and conservation practices in the sector, according to a senior official of the Caribbean Regional Fisheries Machinery (CRFM).

NEW YORK (Reuters) – New York Times Co’s flagship newspaper plans to eliminate several weekly sections and cut freelance spending to save millions of dollars in annual costs, according to a memo obtained by Reuters.

WASHINGTON (Reuters) – The results of tests to gauge how the top 19 US banks would fare should the deep US recession worsen will be publicly disclosed on May 4, a regulatory official said yesterday.

CARACAS (Reuters) – An alliance of Latin American and Caribbean governments led by Venezuela will create a regional electronic currency that is expected to circulate by 2010, Venezuelan President Hugo Chavez said yesterday.

Business Editorial The sight of heavy duty vehicles leaving the various shipping ports bearing the weight of laden storage containers is an encouraging one since it provides some indication of the volume of local commercial activity which, in a worrying economic environment, certainly cannot be taken for granted.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 298’s trading results showed consideration of $419,870 from 11,300 shares traded in 7 transactions as compared to session 297 which showed consideration of $1,678,690 from 154,076 shares traded in 7 transactions. 

Occupancy rates far too low to render business viable – owners The owners of yet another city hotel have confirmed that their business is “up for sale” and that they are keen to close a deal as early as possible.

A local Information Technology service provider will shortly be launching a multi-million dollar subsidiary that will provide consumers with access to solar energy as an alternative  power source for both domestic and business premises.

We find the assertion by Dr. Ivor Mitchell that the University of Guyana ought to be more centrally involved in research pursuits that are directly relevant to the search for solutions to the country’s social and economic problems to be particularly timely in the context of the current national preoccupation with fashioning a holistic response to the challenges arising out of the current economic crisis.