Business

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

The National Milling Company (NAMILCO) continues to press the Government of Guyana to bring an end to what the company’s Managing Director Bert Sukhai has described as the dumping of flour produced in Trinidad and Tobago in Guyana.

 Voortman products challenge ‘junk’ label attached to snack foods …Top Brandz boss One of the country’s leading distributors of imported snack foods, beverages and condiments has announced that it has acquired the sole distributorship for a range of health-based bakery products manufactured under the well-known Canadian label Voortman.

Concern for the welfare of employees in a society that is vulnerable to outward migration by skilled and experienced members of the work force is not just a matter of corporate conscience but a practical pursuit of good business sense, according to Chief Executive Officer of Sterling Products Ltd, Ramsay Ally.

Region Ten pushes for greater food security The pursuit by farmers in Region Ten of greater self-sufficiency in agricultural produce in the wake of the floods in 2005 and 2006 has begun to pay important dividends as the country braces itself to face steadily rising food prices.

Latin America and Caribbean countries struggle to head off rising poverty, indigence & malnutrition International food prices have been rising over the past few years, but price increases have been particularly steep in the past 12 months.

Two successive years of flooding in Guyana’s coastal areas – in 2005 and 2006 – and the attendant consequences of scarcity of fresh fruit and vegetables and accompanying price rises compelled Region Ten to seriously contemplate its vulnerability to agricultural ‘imports’ and the weakness of its food security infrastructure.

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

Government’s move to subsidize the increase in the price of locally produced flour announced by the National Milling Company (NAMILCO) earlier this week may not be sufficient to forestall some attempts to increase the price of flour-based products according to a well-placed business sector source.

GASCI (www.gasci.com/telephone Nº 223-6175/6) reports that session 252’s trading results showed consideration of $6,832,388 from 560,154 shares traded in 26 transactions as compared to session 251 which showed consideration of $1,634,900 from 60,118 shares traded in 15 transactions.

GASCI Summary of Financials Session 252 May 7, 2008  Notes 1 – Interim results 2 – Prospective EPS: earnings per share for 12 months period to the date the latest financials have been prepared.

-concerned over delay in granting leases More than thirty farmers in the Dallawalla area of Region Ten may have give up sections of their farms along a two-mile stretch of arable agricultural land adjacent to the Demerara River to make way for what an official of the Region Ten Farmers Association has told Stabroek Business is a move to construct port facilities along the river front. 

Stabroek Business has learnt that senior Guyana Revenue Authority (GRA) officials whose responsibilities included administering the relationship between Fidelity and the Authority had been assigned “an inappropriate range of assignments” that could easily have led to irregularities like the fraud that is currently under investigation. 

These are challenging times for the jewellery industry. Fast rising food prices and the more general rise in the cost of living have reduced the levels of disposable income among ordinary Guyanese, impacting on their ability to indulge in the time-worn pursuit of buying jewellery; but the Maraj brothers say that it will take more than tough times to cause them to loose faith in the jewelry industry.

We remain wedded to our position that the undertakings given by the President in the Customs/Fidelity affair should serve as an assurance that the ensuing investigation will get to the heart of the matter and that the masterminds behind the scam will be exposed and punished.

Guyana Small Businesses & Tourism Sectors could benefit from participation Each year, thousands of Guyanese in the diaspora look forward to Memorial Weekend Celebrations in Georgia.

By Rawle Lucas Indicator of Price Level The Guyana Bureau of Statistics reported in its Statistical Bulletin that, by December 2007, the Consumer Price Index (CPI) for all items had risen by 30 points from where it was one year ago in December 2006. 

By Rajendra Rampersaud The present rice shortage is currently creating havoc with the global economy after years of unfair treatment to rice farmers.