Business

Chief Executive Officer of the Guyana Telephone and Telegraph Company (GT&T) and former head of Conservation International, Major General (ret’d) Joe Singh has said that the longer term outlook for climate change and its implications for changing weather patterns dictate that Guyana’s response to the economic and social impact of coastal flooding go beyond the current disaster preparedness and recovery programmes that are being employed to respond to the situation.

By Andre Griffith Our article on the effects of the Internet on the traditional telephony in Guyana provoked some strong responses especially as regards the reactions of the local provider to the threats posed to its interests by Internet Café operations. 

Despite its reservations about the likely performance of the economy this year the Institute of Private Enterprise Development (IPED) will be seeking to increase the volume of loans this year and plans to focus attention on businesses with export potential.

Statistics made available to Stabroek Business by the Institute of Private Enterprise Development (IPED) indicate a reduction in the number of loans provided by the facility in 2008 compared with the previous year, but a marginal increase in the monetary value of loans discursed during last year.

GASCI (www.gasci.com/telephone N0 223-6175/6) reports that session 286’s trading results showed consideration of $363,125 from 26,675 shares traded in 8 transactions as compared to session 285 which showed consideration of $711,412 from 45,992 shares traded in 7 transactions. 

Slams PUC for `bias’ The Guyana Telephone and Telegraph Company (GT&T) says its promotions battle with DIGICEL is being contested on an uneven playing field and that the Public Utilities Commission’s (PUC) showed bias against GT&T.

Local distributors also setting up outlets in Suriname, T&T A new multi-million dollar shopping mall is to be built in Georgetown later this year to serve exclusively as a distribution outlet for the internationally famous Hanes line of apparel.

None of the various predictions about the likely performance of the Guyana economy in 2009 has failed to sound a note of extreme caution.

A city businessman has issued a call to the local business community to create “more structured arrangements” for supporting worthwhile charitable causes including institutions, families and individuals in need since, he says, these can actually redound to the benefit of the business community as a whole.

Senior Vice President of the Georgetown Chamber of Commerce and Industry (GCCI) Clinton Urling has told Stabroek Business that the importance of the Guyanese diaspora to the country’s development may well warrant the establishment of a state institution, “perhaps, even at the level of a Ministry,” to administer relations with the overseas-based Guyanese community.

– liquidator mulls move to court Nizam Ali and Company, liquidators of Globe Trust and Investment Company Limited (GTICL) has said that debtors need to pay up and or “come in and say something”, as the push towards an earlier liquidation intensifies.

Republic Bank has appointed Keith Johnson managing director of its Grenada branch following a banking career of just over three decades at its offices.

– 2,600 state-of-the-art homes for Friendship Mews, Sara Johanna GardensTwo ultra-modern, gated communities being set up on the East Bank Demerara and slated for completion in three years’ time will boost local housing with the addition of 2,600 more homes.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 285’s trading results showed consideration of $711,412 from 45,992 shares traded in 7 transactions as compared to session 284 which showed consideration $4,418,281 from 313,883 shares traded in 14 transactions. 

Plans in train for ‘tasteful’ hotelOne of Georgetown’s most attractive state-run reception facilities, Duke Lodge, has passed into private hands with the recent acquisition of the property by the Roraima Group of Companies.

This picture of shoppers casually strolling by a sizeable pile of garbage – taken by Stabroek News photographer Aubrey Crawford last Wednesday at the corner of Camp and Regent streets, close to a building site – illustrates the unspeakable folly (or perhaps downright callousness) of minds that remain oblivious to the threat of flooding that hangs permanently over Georgetown.

Flooding Less than two weeks after the start of the predicted heavy rains both the government and the various local authorities across the country have slipped into an emergency mode.