Business

As Guyanese and Surinamese both contemplate the implications of the award that has effectively settled the long-standing maritime dispute between the two South American Republics, officials in both George-town and Paramaribo appear optimistic that the demarcation of the maritime jurisdiction of the two countries significantly enhances their respective prospects of economically significant oil finds.

The news that Guyana’s prospects of a commercially viable oil find may have risen in the wake of the International Tribunal on the Law of the Sea (ITLOS) arbitral award in Guyana’s maritime dispute with Suriname passed with little public fanfare here.

In my article published in the September 14, 2007 issue of the Stabroek Business and titled “The Strategies for Sustainable Growth in the CSME”, I made reference to Dr.

Last week’s column dealt with the award to Guyana by the Arbitral Tribunal of the UN of maritime territory which had been a cause of dispute between Guyana and its neighbour and CARICOM partner Suriname, an area considered as having probable oil resources.

Sharon Barnwell nee Mitchell is one of many Guyanese residing overseas whose accomplishments in business are attracting more than passing attention.

Small business enterprises in Caribbean Community (CARICOM) territories will be offered an important opportunity to take their goods and services to a single regional marketplace when the first ever Caribbean Small Business Trade Fair and Exhibition is held in the twin-island republic from November 10- 17, this year.

Notes 1 – Interim results 2 – Prospective EPS: earnings per share for 12 months period to the date the latest financials have been prepared.

For all the various challenges that confront Banks DIH Ltd the company continues to exude an aura of confidence and optimism that ought to serve as a source of encouragement to local entrepreneurs in a society where doing business can be fraught with difficulties.

The Guyana Telephone and Telegraph Company (GT&T) says it welcomes the recent fixing of floor and ceiling rates for cellular services by the Public Utilities Commission (PUC) since the new range of rates provides the company with more flexibility to provide cost-saving options to its customers.

Citizens Bank Managing Director Alan Parris has said in his 2006 annual report that despite the challenges which the bank has had to confront “both within the banking industry and generally in the country” 2006 had marked the tenth successive year that the bank saw growth in its assets.

GASCI (www.gasci.com/telephone N

The new multi-million dollar Toolsie Persaud hardware complex will open its doors to the public next Monday marking yet another major investment by one of the country’s best-known and most durable business establishments.

With Cricket World Cup coming in a few months, our businesses customer service will be tested for the first time by the international community on a large scale.

Banks Barbados Head Brewer Steven Gittens has told Stabroek Business that his technical role in supporting the brewing exercise prior to last Friday’s launch by the local company of the new energy drink Plus Energy breaks new ground in a long history of cooperation between the two companies.

In the wake of the ongoing controversy governing the staging of the Linden Town Week 2007 Stabroek Business has learnt that the Interim Management Com-mittee of the Linden Mayor and Town Council will assume overall management responsibility for the running of the Town Week programme but that various private organizations will be invited to submit bids to finance and run individual events comprising the programme.

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Like most local business houses contemplating the implications of the January 1, 2007 introduction of the new Value Added and Excise Tax, Bryden and Fernandes Inc, one of the country’s largest distributors of household and food products is cautious about its business projections for the year ahead.

With Cricket World Cup 2007 now just two months away the financial crisis gripping the Georgetown City Council continues to cast a huge pall of uncertainty over the likely success of what is clearly a “last ditch” effort to at least render the capital presentable for the Guyana leg of the world’s largest international cricket tournament.

I strongly believe that company executives in Guyana do not spend enough time on developing our local human capital.

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