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Monday, September 30, 2024 at 10:51 PM I wish I could tell you how I feel about so many things. I wish I could explain...

Wednesday, October 2, 2024 at 8:41 PM Last night I watched the movie, Mrs. Brown, about John Brown, a servant to Queen Victoria, who brought...

The flagship achievement of this government in the agricultural sector is the cattle industry. With ranchers now freely exporting cattle to Guatemala, and a...

Oct 06, 2024 News Ghana citizens in massive protest over illegal mining in their country. Hundreds of Ghanaians protested on the streets of Accra on Thusday  to demand an immediate halt of illegal mining. Hundreds of Ghanaians protested on the streets of the capital city Accra on Thursday to demand an immediate halt to illegal mining. (News Central) AFP – Hundreds of Ghanaians, most of them university students, protested on the streets of the capital city Accra on Thursday to demand an immediate halt to illegal mining. The demonstrators, who plan to stage rallies for three days, are also demanding the release of 54 activists detained last month for demonstrating against illegal mining. The government’s handling of illegal mining — particularly its impact on natural resources and rural livelihoods — has become a flashpoint issue in the run-up to the West African country’s presidential elections in December. “If our leaders don’t take action now, future generations will pay the price,” Delali Asante, a student at the University of Ghana, told AFP. Chanting the Ghanaian national anthem and singing patriotic songs, the protesters, draped in red and black attire, danced through the streets of the capital. Many of the protesters displayed bottles of polluted water from the Pra and Birim rivers, two of the biggest in the West African nation, to highlight the devastating environmental impact of illegal mining. Many Ghanaians depend on the polluted rivers for daily supply of drinking water. “Our water bodies are being destroyed, and soon we’ll have nothing left,” Asante said. “We can’t drink gold, and we can’t grow crops on poisoned land”. “We cannot sit by and watch as our rivers and water bodies are poisoned with mercury,” said protest leader Henry Tagoe. “Illegal mining is destroying our environment and our future.” Labour unions said they will begin a nationwide strike October 10 to force authorities to take urgent action. Protesters are also demanding the release of 54 members of the Democracy Hub pressure group who were arrested on September 22 and 23 for blocking roads and burning tyres, and remanded in custody for two weeks, prompting outrage from the public and politicians. Ghana, a country of 33 million people, is a major gold and cocoa producer. Since 2022 it has been struggling with an economic crisis and rampant inflation that have led it to default on its foreign debt. Economic woes have encouraged a growing number of cocoa producers to sell their lands to illegal mining outfits. In addition to gobbling up agricultural land, illegal mining, which uses chemicals to extract the gold, has polluted rivers and water tables. “We will not stop until we see real change,” Tagoe vowed. “This is not just about us. This is about protecting Ghana’s future.” (Ghana in massive protest over illegal mining) Related Similar Articles

Suriname to receive largest ‘take’ from first oil project Oct 06, 2024 News The– Staatsolie Head Managing Director of the country’s state -owned Staatsolie, Annand Jagesar,  said that Suriname is to receive largest ‘take’ from first oil project  Kaieteur News – Suriname oil and gas industry has hit an historic milestone with the Final Investment Decision (FID) made to develop the GranMorgu field in Block 58. Annand Jagesar, Managing Director of Suriname’s state -owned Staatsolie Surinamese President Chandrikapersad Santokhi said, “Suriname and its people welcome and appreciate the final investment decision of Total Energies and APA Corporation regarding Block 58 with Staatsolie. We consider this a historic and milestone occasion, creating significant opportunities and revenue prospects for Suriname, as well as attracting investors worldwide.” He noted that the decision will boost the country’s domestic capabilities and investments and have a major impact on local content opportunities. President Santokhi underscored the country’s commitment to a strong and loyal partnership. Notably, he said too that Suriname expects that the offshore oil and gas development will take off in compliance with environmental regulations and standards. Annand Jagesar, Managing Director of Suriname’s state -owned Staatsolie, said, “What seemed like a distant dream is becoming reality. This will be the largest investment ever in our country; one in which Suriname will receive the largest share of the ‘take’.”  He noted that Staatsolie will supervise this. Jagesar added, “This new opportunity comes with a shared obligation to ensure that Suriname will benefit optimally from the incomes from offshore oil. These will have to be put in use for the long-term prosperity of all Surinamese.” He underscored that this can be achieved through good governance, transparency, zero corruption and the establishment and strengthening of institutions that guarantee that the income benefits the development of the entire Surinamese society. The GranMorgu project Recently, French-company TotalEnergies and APA Corporation announced the FID for the project offshore Suriname. The timeframe for the construction and installation, according to a release from Staatsolie, would take approximately four years. Suriname can expect first oil in 2028. TotalEnergies is the operator in the partnership with APA in Block 58, each with a 50% interest.  Oil will be the focus of the GranMorgu project’s development. Staatsolie said  that the majestic Goliath Grouper (Granmorgu) inspired the project’s name, a large fish found in Suriname’s coastal waters. With its size, the Granmorgu symbolizes the magnitude and significance of the upcoming development in Block 58. Notably, the fish can live up to forty years, which also indicates the productivity years of the GranMorgu project (minimum 20-25 years). GranMorgu means more or less ‘a beautiful morning’ in Surinamese, this Staatsolie said represents a new dawn and the promise of a new beginning, for the energy sector of Suriname, and the country itself with new opportunities to work dedicatedly towards sustainable growth and progress. According to current estimates and prices on the market, the project will cost more than US$ 10 billion. Notably, in accordance with the terms of the Production Sharing Contract (PSC), Staatsolie has plans to participate for a maximum of 20% in the development and production of the commercial field. Better Deal than Guyana This publication recently reported that in a video clip, Jagesar, compared the contracts of Guyana and Suriname during the announcement of the FID. “Guyana, they have 2% royalty, and 50% profit split, no taxes, and here in Suriname, we have like 6.25 % royalty, profit split according to a certain formula, so the higher the oil price the better for Suriname, but the lower the oil price then the contractor gets protected and we have a stabilized tax rate of 36%,” Jagesar said adding, “So you can do the math and the deal is good but of course everybody has to survive in this partnership.” On Thursday, Vice President Bharrat Jagdeo acknowledged that Suriname has better terms in their agreement than Guyana’s 2016 agreement. Jagdeo’s statement followed the publication of an article by Demerara Waves headlined, ‘Suriname boasts of better oil contract terms than Guyana’. “I noticed Demerara Waves; Suriname boasts of better oil contract terms than Guyana. Not that anyone actually boasted about this… but it’s true that they have better terms than our 2016 agreement has and who is responsible for this again the APNU/AFC,” Jagdeo said. New PSA Jagdeo compared Suriname’s royalty rates with that of the new Public Sharing Agreement (PSA) saying that, “So if you look at their royalty rate of 6.2% royalty, we have just put in our new PSA, a 10% royalty rate that’s the new condition but the agreement that they have today is better than the 2016 agreement and we pointed this out many times.” It is important to note that the new PSA referred to has nothing to do with the country’s current deal with ExxonMobil and its partners Hess and CNOOC nor is it related to the lucrative Stabroek Block offshore Guyana. The new PSA will govern the smaller blocks that were part of the recent auctions. Furthermore, there have been no exploration activities or discoveries in any of these blocks. Therefore, citizens should be aware that the Stabroek Block arrangement remains the same, Guyana will get 2% royalty and 50/50 profit sharing. Jagdeo in laying blame on the former administration for the 2016 oil deal noting that his government fixed the deal by addressing the non-fiscal terms so that Guyanese can benefit more from the sector. “We sought to fix this by getting more benefits from the contract through the Local Content Law, the Gas-to-Energy project so that we can claim other non-fiscal benefits from the contract and we have had Exxon agree with that from the time we got into office, but this is great and I am happy for Suriname, very happy for them they have worked very hard at this,” he reasoned. (Suriname to receive largest ‘take’ from first oil project) Related Similar Articles

Senior Cop accused of sharing police intelligence with suspects in ‘Bricks’ abduction case Oct 06, 2024 News A Senior Cop is being accused of sharing police intelligence with suspects in ‘Bricks’ abduction case. Missing: Joshua David Kaieteur News – A senior Officer with the Guyana Police Force is accused of allegedly sharing police details with suspects in the Joshua David abduction case. Kaieteur News understands that the officer advised the wanted men to surrender in order to save himself. Sources said the officer might know more than detectives about David’s abduction because of his alleged friendly acquaintance with the suspects. Investigators believe that he was allegedly keeping them updated with new developments on the police search for the abducted man. The sources did not say if investigators have evidence to prove this but claimed that the officer met with the suspects recently. He allegedly told them that they must turn themselves in because “the heat was coming down on him”. On Friday, four more wanted suspects surrendered to police. The men are 34-year-old Wayne Barker called ‘Onnie’ of Norton Street Lodge, 26-year-old Aaron Alleyne called ‘Cats’ of Lot 9 West La Penitence, 21-year-old Davantai Mars called ‘Sharkie’ of Lot 148 Middle Road, La Penitence and 32-year-old Damion Barlow called ‘Dangles’ of Lot 47 Norton Street, Wortmanville. They surrendered five days after two other wanted suspects, Osafo Peters and Alpha Poole, had also turned themselves in. Poole and Peters were remanded on Friday for allegedly abducting David. “Brick’s” abduction Police have not shared much details regarding their investigation into the abduction. They have however been actively searching for the victim. They have mostly been combing the East Coast Demerara (ECD) Backlands. Searches were conducted in the areas of Annandale and Buxton. David’s family remains hopeful that he will be found alive. On Thursday, relatives held a candlelight light vigil on Main Street calling for his safe return. David was reportedly abducted during the evening hours of September 26 from Main Street. Cell Phone recorded footage of the abduction showed a group of men accosting him in the vicinity of the New Thriving Chinese Restaurant. They were seen forcefully taking him away. Since his abduction, David was neither seen nor heard from again. Police believe that his abduction is connected with the recent drive by shooting on D’urban Street, which left two persons dead and several wounded. Investigations are ongoing. (Senior Cop accused of sharing police intelligence with suspects in ‘Bricks’ abduction case) Related Similar Articles

Food prices jumped by 3.2% in first six months of 2024 Oct 06, 2024 News Inf- Bank of Guyana The Bank of Guyana (BoG) reported that  food prices  jumped by 3.2% during the first six months of 2024. The cost for vegetables and fruits recorded further increases during the first six months of 2024. Kaieteur News – The cost of food has been steadily increasing over the past six months, as heavily reflected on consumers’ supermarket bills. The Bank of Guyana (BoG) in its 2024 Half-Year Report revealed that all food categories recorded higher prices with the exception of fats and oils (excluding butter). According to the Report, “The Urban Consumer Price Index (CPI) year-to-date inflation stood at 1.6 percent, primarily due to a 3.2% increase in prices of food.” The Consumer Price Index shows an increase in the cost of meat, fish and eggs; cereals and cereal products; milk and milk products as well as vegetables and vegetable products. Central Bank explained, “The aggregated food category increased by 3.2%, reflecting higher prices for prepared meals and refreshments by 14%, fruits and fruit products by 12.3%, cereals and cereals products by 4.7%, non-alcoholic beverages by 3.7%, condiments and spices by 3.6% and vegetables and vegetables products by 3.1%.” Inflation Notably, the Government of Guyana’s Mid-Year Report also reflected an increase in food prices. The report explains, “At the end of June 2024, the 12-month inflation rate stood at 4 percent. This is on account of an increase in the price of food, which contributed 3.8 percentage points to the overall 12-month inflation rate. Within this, prices for vegetables and vegetable products accounted for 1.8 percentage points, while cereals and cereal products and meat, fish, and eggs each contributed 0.5 of a percentage point.” Inflation, as described by the International Monetary Fund (IMF), refers to the rate of increase in prices over a given period of time. It is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country. Guyanese have been complaining about the rising cost of living in the country as the cost for basic services also continue to climb. According to the Bank of Guyana Report, “The end of year inflation is forecasted at 3.2% as continued efforts by the Government are aimed at containing prices.” Govt. Measures Meanwhile, government in addressing the high cost of food said the impact during the first six months of the year was as a result of a combination of domestic and global factors. “These included disruptions in domestic supply chains and increased demand spurred by economic growth and population dynamics. Climate conditions also contributed to challenges in food production and distribution,” the administration said. It noted that a number of measures have been proactively implemented to reduce the cost of production and cushion the cost of living; these are expected to continue throughout the year. Government added that it has engaged farmers to explore ways of directly reaching consumers in an effort to continue to contain food prices. This year, the government allocated $7B in the 2024 Budget to help offset the cost of living. It has not used the funds yet. (Food prices jumped by 3.2% in first six months of 2024-Bank of Guyana Reports) Related Similar Articles