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Oct 15, 2024 News Guyana Consul General Geneva Tyndall, Go Invest Officer Gavin Bovell, Managing Director off Grady Marketing Roger Bannister, Special Envoy to Guyana and Suriname Althea Wiggins and Director of Commerce Bertram Johns Kaieteur News- Demerara Distillers Limited (DDL) has announced the successful entry of its Savannah milk products into the Barbados market. Savannah milk products are produced by the TOPCO Plant, the company said in a press release. The entry of Savannah milk to Barbados is a result of concerted efforts by DDL, the Guyana Office for Investment, and the Barbados Special Envoy to Guyana and Suriname, Althea Wiggins, and comes at a time when there is a shortage of milk in the Barbados Market. Speaking in Guyana after the announcement at a Media Conference in Barbados, DDL Chairman, Komal Samaroo, said that “as DDL continues to diversify its portfolio of products, the company remains focused on the commitment of Heads of Government of CARICOM to work together towards food security in the region, and the ambitious but necessary reduction in the regional food importation bill by 25% by the year 2025. As such, we are very satisfied that we are able to begin our supply of milk products to Barbados at this critical time.” The Chairman added that “the authorities in Barbados and the regimes that are in place made it as easy as it should be for a CARICOM company to enter and operate in that market. As we continue to seek to supply other CARICOM markets, we hope that Barbados would serve as a model.” At the media conference in Barbados last week to launch the Savannah milk products, Wiggins, the Special Envoy said, “In terms of a separate bilateral arrangement that was signed with Guyana, we are now introducing Savannah milk, imported from Demerara Distillers to Barbados through local distributor Grady Marketing.” Speaking at the same briefing, Managing Director of Grady Marketing, Roger Bannister, said that “the entire first shipment has been sold to supermarkets across the island, a testament to the demand for high-quality milk among Barbadians.” Chief Investment Officer, Dr. Peter Ramsaroop, commenting on the new market for Guyana’s milk said, “We are proud to be part of this partnership, which demonstrates the value of working together as a region to support each other’s economies.” Dr. Ramsaroop added, “This initiative not only brings a high-quality product to the Barbadian market but also strengthens ties between Guyana and Barbados, a relationship that has been significantly enhanced through the St. Barnabas Accord.” The St. Barnabas Accord, signed by President Dr. Irfaan Ali, President of Guyana, and Prime Minister Mia Mottley of Barbados, has been instrumental in deepening the trade relationship between Guyana and Barbados, fostering greater economic cooperation, and facilitating initiatives like this one that benefits both countries. This agreement has paved the way for increased trade of goods and services, ensuring that essential commodities such as milk can be readily available to the Barbadian market. Students in Barbados sampling Savannah milk in a supermarket Related Similar Articles

Biker hospitalised after collision with car Oct 15, 2024 News Kaieteur News- A man is now hospitalised after he was involved in an incident that resulted in a collision with his motorcycle and a car. This accident occurred on Sunday at Farmer’s Field Access Road Sophia, Greater Georgetown. The injured man has been identified as Bobby Boyer of Plum Park Sophia. According to police, driver of motorcar PAF 5564 Aubrey Duke was headed west from his place of abode into Farmer’s Field Sophia when he ended up in the path of the motorcycle which was headed north along the western drive lane of the same access road. This resulted in a collision which caused Boyer to fall onto the road’s surface sustaining injuries about his body. He was in a semi-conscious state when he was picked up and rushed to the Georgetown Public Hospital and was admitted as a patient. His condition is currently listed as stable and the driver is in police custody as the investigations continue. Related Similar Articles

Oct 15, 2024 News Kaieteur News– A pedal cyclist has succumbed to his injuries after he collided with a car on the La Grange Public Road on the West Bank of Demerara on Sunday. Dead is Shaman Ally. Police said that the accident occurred around 14:45hrs on Sunday. Involved in the accident were motorcar #PMM 9424, driven at the time by 34-year-old Kelvin Hodge and pedal cyclist Shaman Ally (now deceased). Police said that their investigation up to the point of the statement indicates that, Ally was riding south along the eastern side of the road and was not holding onto the handlebars of the bicycle. He lost control of the cycle and swerved to the west, which resulted with him colliding with the left side front fender of the motorcar, which was said to be proceeding in the same direction. The collision resulted in him falling onto the road’s surface and he received injuries to his head and other parts of his body. The man was picked up in a semi-conscious state by Emergency Medical Technicians (EMTs), placed into an ambulance and rushed to the West Demerara Regional Hospital where he was examined by a doctor on duty. He later succumbed to the injuries sustained around 17:30hrs. The man’s remains are lying at the Ezekiel Mortuary awaiting a post-mortem examination, while the driver was placed in custody and is assisting with the investigations. Related Similar Articles

Capital markets –the essence Oct 15, 2024 Features / Columnists, The GHK Lall Column Kaieteur News – Managing Direction of the Jamaica Stock Exchange (JSE), Dr. Marlene Street Forrest certainly wowed Guyanese with her presentation on the elements of a functioning Capital Markets.  So, too, did Chairman of the JSE, Steven Whittingham.  The gathering arranged by Guyana’s Chamber of Commerce and Industry (GCCI) pulled out the stops and attracted the presence of a noted American investment bank, Jefferies Private Wealth Management.  As big guns go, the GCCI must be commended for bringing such a galaxy of fine, upstanding folks to these shores.  They had a lot to say about Capital Markets, of which so much more needs to be known here. I nodded in appreciation on reading about transparency, accountability, and investor education from Dr. Street Forrest (KN, October 10, 2024).  It was well said and well received.  Chairman Wittingham was pointed in saying that “successful economies are not built solely on natural resources. They are built by successful companies and successful companies need capital. Guyana is at a crossroads. It’s a land of opportunity, but you must tread carefully.”  A wide brimmed Stetson is doffed to the chairman.  Meanwhile, CEO of NCB Capital Markets Ltd, Angus Young weighed in with, “The broker dealer will also bring fresh capital from the region into Guyana as investors seek to participate in the fastest growing economy in the world.”  He continued: “Guyana is at the defining moment in its history.”  Thanks to all visitors and contributors for their all-around sober, but also rousing, remarks.  Guyana is the place to be in these the early days of a sustained capital markets development push.  Here is where it could, should, happen.  Must happen, and everyone said the right things.  Capital markets, which are about raising funds for corporations getting off the ground, expanding, developing quicker.  Equity markets.  Debt markets. And, if I may be permitted, the derivative markets that can be skillfully utilized by the sophisticated to bolster the strategies and visions of company execs and planners.  A word of caution is timely: only the sophisticated and the prudently bold in the derivative markets, which can go from boon to bomb in less than an instant.  But there was something missing from the presentations, which could be the call of the media in not highlighting.  Or because it was not emphasized as it should have been.  In fact, there are two essences, two imperatives that ought to have been woven into contributions that struck rich chords. The first is trust.  Trust is priceless.  Capital markets live and die, flourish or perish, on that intangible called trust. When trust is lost, the best capital markets seize up, grind to a halt.  Revisit the US of 2008, which stands as a more recent example of the incineration of trust, when regulators failed at their duty, and insatiable greed was allowed to run amok.  As much as it is detested, the negative must be interjected, if only for the warning value.  As most Guyanese who are honest will admit, trust is a scarce to nonexistent commodity in this country.  Political trust.  Corporate trust. Social trust.  Civic trust.  Citizen trust.  Are these not some of the crucial components that would be key presences in the local environment, which should form the bedrock of any viable capital markets?  On every occasion, I say ‘yes.’ Another attendee at the GCCI event, Mr. Gregory Fisher of US-based Jefferies Private Wealth Management, should have plenty to lay on the table about the sacred nature of trust for any capital markets to prosper beyond the initial euphoria.  He would be more equipped than most to instill into Guyanese that trust in any Guyana Capital Markets would lead to the strengthening and sustaining of investor trust.  For the investor confidence that’s so paramount, as some leading political heavyweights have sounded off on, but of which they haven’t the faintest clue what that represents through and through.  Dr. Street Forrest rightly spotlighted investor education, but investor trust, though a byproduct of investor education, still takes precedence.  Meaning that from the regulator to the regulated, be they individuals or companies or groups, all must operate on a level playing field, and with all the other comforting things of which she spoke so well.  It was Chairman Whittingham who spoke intelligently of the role of natural resources and its proper place.  Still, the highest place is reserved for the human element that fuels and could drive vibrant and credible capital markets in Guyana. When that trusted human element occupies untainted grounds, then Guyana’s capital markets, with that trusted people presence and their contributions, could takeoff.  If trust is as skimpy and shadowy as is now the norm in this country, then all that the great Guyana natural resource underpinnings would do is provide a platform that showcases the lengthy scaly underbelly of this society. Considerable challenges stand ahead in building a modicum of trust. Key drivers would be sustained, honest efforts from credible participants.  (The views expressed in this article are those of the author and do not necessarily reflect the opinions of this newspaper.)                        Related Similar Articles

Oct 15, 2024 News A new high-yielding rice variety known as ‘GRDB 18,’ was launched on Monday by the Guyana Rice Development Board (GRDB). The new variety was launched at a rice field in Nooten Zuil, East Coast Demerara, where a trial was conducted by A. Sabastian, a farmer that owns 4.5 acres of land. At the launch, Minister of Agriculture, Zulfikar Mustapha, stated that this new variety reflects the government’s commitment to keeping agriculture at the forefront of modernisation and sustainability through innovation and technology. “This variety is very tolerant to water lodging which is crucial for maintaining high-quality harvest…Additionally, it has developed superior grain quality, ensuring that we can compete effectively in both the local and international markets,” the minister stated. Minister Mustapha noted that within four years, the board has managed to launch two rice varieties. GRDB 16 was introduced into the market in 2020.  The minister challenged the board to develop another high-yielding rice variety that offers better quality and that will increase rice production by next November.  “We have to ensure that we work and commit ourselves to include best practices to transform the rice industry…In the coming years, I am hoping that we can extend our market to about 50 more countries,” the agriculture minister said. Minister Mustapha and Persaud inspect the rice seed Madanlall Ramraj, the Director General of the Ministry of Agriculture, emphasised that varietal development is crucial for increasing rice production in the country. The director general disclosed that the rice industry is valued at $100 billion, with over $42 billion worth of seed paddy sold to mills last year. He also mentioned that exports from mills to other countries amounted to $44 billion, with billions of dollars more in local sales, drainage, irrigation, and machinery. “We will continue to work to ensure that the farming community benefits from the intervention of the Ministry of Agriculture,” Ramraj stated. Meanwhile, Mahendra Persaud, Chief Scientist at GRDB, reported that after 120 trials, there has been no decline in rice recovery. “We have seen from all those trials the average is around 7.2 tons per hectare, that is around 45 bags per acre. So, in terms of the yield potential, the candidate variety is good,” the scientist noted. The new variety can withstand late harvesting of 10 to 15 days and endure harsh conditions such as drought, offering hope for improved resilience in the rice sector. (DPI) Related Similar Articles

Oct 15, 2024 Peeping Tom Kaieteur News – TOTALTEC Inc., a provider of services to the energy and construction sectors here on Monday announced the launch of CampBOSS Inc., its new hospitality division. CampBOSS is set to open its first hospitality complex in Houston, Greater Georgetown, in December 2024. The state-of-the-art facility will offer a range of amenities, including 52 comfortable rooms with plans to expand to over 100 within six to eight months. It will feature a restaurant with dining options for 88 guests, including a VIP dining room and a second kitchen dedicated to catering services. The complex will also include a fully equipped spa, fitness center, modern conference center, pool, and roof terrace. “CampBOSS is designed to provide affordable, high-quality accommodation and services to meet the growing demand in Guyana’s dynamic market,” said Lars Mangal, Chief Executive Officer (CEO) of TOTALTEC Inc. “We are committed to delivering exceptional cuisine and outstanding service, setting a new standard for hospitality in the region.” Strategically located in Houston, the complex will offer convenient access to business districts and transportation links. CampBOSS will provide flexible room rental models to cater to different needs and budgets, along with integrated services such as catering, maintenance, laundry, and concierge support. CampBOSS also specializes in offering hospitality services for remote site operations, providing modular facilities for companies operating in Guyana and beyond. Related Similar Articles

PPP/C destroyed the East Demerara sugar estates Oct 15, 2024 Letters Dear Editor, We have read repeatedly that the sugar industry was damaged by the APNU+AFC Coalition administration which threw many workers onto the breadline. If anything, the PPPC administration should be blamed for the destruction of the East Coast Demerara sugar industry during the chaotic 1992-2015 period. Mr. Editor, for the benefit of your readers, I provide the factual timeline of the PPP/C’s mismanagement of the industry: 1992. There were 20,420 employees in the sugar industry and eight estates were in operation. 1998. The Enmore/LBI/Diamond estates cultivations and operations were amalgamated into East Demerara estates and the administrative office was centralized at LBI. The Enmore administrative office and Field Workshop were closed leading to the termination of the clerical staff and artisans from Enmore which was approximately 200 persons. 2010. The Diamond estate took 4,000 hectares out of cane cultivation and the employees transferred to LBI. GAWU challenged GUYSUCO transfer in court which ruled against the Corporation and 500 employees were paid severance in June 2011. 2011. The LBI factory was closed and the majority of the employees transferred to the Enmore factory while some were severed. The canes previously processed at LBI were transported to the Enmore factory for processing. 1992-2015. GUYSUCO removed 5,340 employees from the payroll. During this period, the Corporation was unable to recruit new workers and employees also continued to leave the industry. At the end of 2015, there were only 15,080 employees at seven estates. Mr. Editor, with GUYSUCO’s inability to recruit or retain employees, a considerable amount of money was invested in the mechanization of the field operations to accommodate mechanized harvesting in particular. This was particularly so at Enmore and the expansion lands at Skeldon. It should be evident that the present low level of sugar production and the drastic reduction of the workforce were the result of over two decades of PPP/C administration’s mismanagement. Respectfully,  Frank S. Grant Related Similar Articles