Category Archives: Economics/Finance

Indians stashing ‘black money,’ beware. High court wants your name

Indians stashing ‘black money,’ beware. High court wants your names

Supreme Court in Delhi tells lawmakers that a list of secret foreign bank account holders that may be hiding illegal funds must be handed over

india

The Government of India submitted the list of all black money account holders to the Supreme Court on Wednesday as directed. Attorney General of India Mukul Rohatgi said that the government has submitted a list of around 627 names who have their accounts in HSBC bank. He added that all assessments have to be completed by 31st March 2015. The sealed covers will be opened by SIT which will proceed according to law after opening the seals.

Christian Science Monitor By Syed Nazakat – October 28, 2014 7:45 PM
The Government of India submitted the list of all black money account holders to the Supreme Court on Wednesday as directed. Attorney General of India Mukul Rohatgi said that the government has submitted a list of around 627 names who have their accounts in HSBC bank. He added that all assessments have to be completed by 31st March 2015. The sealed covers will be opened by SIT which will proceed according to law after opening the seals.

Wikileaks founder Julian Assange once said that Indians have more black money stashed in tax havens than any other nationality.  Continue reading

Guyana: Sliding further downhill – commentary

Sliding further downhill

OCTOBER 25, 2014 | BY EDITORIAL

The majority of our skilled people is migrating, and not only does this not augur well for the future, it means that the country is getting less for its investment in human development; training people is a very costly exercise. The country is gradually sliding downhill and those with alternatives are quickly taking their leave. In other words, not taking chances with their chances.

For as long as we could remember we have been producing our own teachers, nurses, skilled artisans and the like. Such was our training regimen that all those who graduated were good enough to work in any part of the world.

There was a time when the cost of living was such that we were content to stay and serve. But there was always the lure of life overseas. That lure now has so many of us leaving that we cannot train people fast enough and even those we train are never good enough because their foundation was rather weak. Things had even reached the stage where we were forced to lower the entrance qualifications to our top learning institutions.  Continue reading

Brazil’s presidential election -Why Brazil needs change

Brazil’s presidential election -Why Brazil needs change – updated

Voters should ditch Dilma Rousseff and elect Aécio Neves

Oct 18th 2014 | The Economist

IN 2010, when Brazilians elected Dilma Rousseff as president, their country seemed at last to be living up to its huge potential. The economy expanded by 7.5% that year, setting the seal on eight years of faster growth and a steep fall in poverty under Luiz Inácio Lula da Silva, Ms Rousseff’s political mentor and the leader of the centre-left Workers’ Party (PT). But four years later that promise has disappeared. Under Ms Rousseff the economy has stalled and social progress has slowed. Sanctions-hit Russia aside, Brazil is by far the weakest performer in the BRIC club of big emerging economies. In June 2013 over a million Brazilians took to the streets to protest against poor public services and political corruption.

Ever since the protests the polls have shown that two-thirds of respondents want the next president to be different. So one might have expected them to turf out Ms Rousseff in the first round of the country’s presidential election on October 5th. In the event she secured 41.6% of the vote and remains the narrow favourite to win the run-off ballot on October 26th. Continue reading

TRIUMPH OF THE “UNDERCLASS” – By Hubert Williams

TRIUMPH  OF  THE  “UNDERCLASS”

               By  Hubert  Williams

Boston, Massachusetts, October 21, 2014 — In 2003, in a lengthy document sent the office of Mrs. Hillary Rodham Clinton, reacting to her extremely well presented book “Living History”, I had expressed misgivings over societal weaknesses and the emerging role of well-educated, highly-placed working women which could have the unintended consequence under Democracy of an ‘underclass’ literally controlling small jurisdictions such as those in the English-speaking Caribbean… and, in the fullness of time, large jurisdictions, too.

She is absolutely a “women’s libber” and a very strong proponent of an education system which separates girls and boys, particularly at the secondary and tertiary levels. Of her own experience at Wellesley College in Boston (one of the world’s foremost women’s universities), she wrote:

“Unlike some of the smart girls in my high school, who felt pressure to forsake their own ambitions for more traditional lives, my Wellesley classmates wanted to be recognized for their ability, hard work and achievements. This may explain why there is a disproportionate number of women’s college graduates in professions in which women tend to be under-represented.” Continue reading

One Muslim state’s peaceful power transfer – commentary

One Muslim state’s peaceful power transfer

By the Monitor’s Editorial Board October 14, 2014 – [source]

  • Indonesian President-elect Joko Widodo, center, speaks with Facebook CEO Mark Zuckerberg, right, during their visit to a market in Jakarta, Indonesia, Oct 13. The two discussed ways to use the online social network for national development.

With four Muslim countries now splintered in armed conflict (Libya, Syria, Iraq, and Yemen), the world can be grateful that the largest Muslim country will achieve a peaceful milestone Oct. 20. For the first time in its history, Indonesia will see a transfer of power from one popularly elected president to another: A humble former furniture maker, Joko Widodo, will take over from a former Army general, Susilo Bambang Yudhoyono.  Continue reading

DIASPORA – editorial in Stabroek News

DIASPORA –  editorial in Stabroek News

Guyana: President Ramotar

President Ramotar

Last week GINA, the Government’s information service, reported that President Donald Ramotar had met Guyanese in Washington and Queens, New York, in the course of his visit to the United Nations, and that he had asked them to return home and invest in the country’s economy. One wonders if he was serious when he put that question to his compatriots in the diaspora, or whether he was just going through the motions.

If he was serious, then he is truly divorced from reality; we have been waiting twenty-two years for this flood of returnees to swamp us with their US dollars, their overseas skills and their drive to nurture their homeland, and no one, even President Ramotar one would think, anticipates that they will do so in the immediate future.

Continue reading

Small-Scale Traditional Farming Is the Only Way to Avoid Food Crisis, UN Researcher Says

Small-Scale Traditional Farming Is the Only Way to Avoid Food Crisis, UN Researcher Says

agroecology101014

United Nations Special Rapporteur on the Right to Food, Hilal Elver, advocates for agroecology (traditional farming). Is this a new initiative?

New scientific research increasingly shows how “agroecology” offers environmentally sustainable methods that can meet the rapidly growing demand for food.  

Modern industrial agricultural methods can no longer feed the world, due to the impacts of overlapping environmental and ecological crises linked to land, water, and resource availability.  Continue reading

The European Debt Crisis Visualized – video

The European Debt Crisis Visualized

Published on Feb 11, 2014

Feb. 12 (Bloomberg) — At the heart of the European debt crisis is the euro, the currency that tied together 18 countries in an intimate manner. So when one country teeters on the brink of financial collapse, the entire continent is at risk. How did such a flawed system come to be? Bloomberg Television and Jonathan Jarvis present “The European Debt Crisis Visualized.” (Source: Bloomberg)

Guyana to earn US$960 million from 17-year Aurora gold mine

Guyana to earn US$960 million from 17-year Aurora gold mine

Wednesday, 01 October 2014 – Written by  Demerara Waves

Pres. and CEO of Guyana Goldfields, Scott Caldwell.

Pres. and CEO of Guyana Goldfields, Scott Caldwell.

Guyana is expected to earn US$960 million in royalty and other taxes from the Aurora goldmine owned by the Canadian company during the first 17 years, Guyana Goldfields Inc; according to a senior company official.

Speaking at the re-launch of the Guyana Mining Toolkit, the President and Chief Executive Officer of Guyana Goldfields, Scott Caldwell said the mine is expected to produce US$150,000 ounces of gold per year beginning late 2015.    Continue reading

Capitol News – TV Video Reports – 30 September 2014

Capitol News – TV Video Reports – 30 September 2014

  • Trotman vows to stay in Speaker’s chair
  • Alesie Rice worries about licence after fallout with Ramsammy
  • Women’s right group frustrated by Minister Webster
  • Auditor General says public funds continues to be misused
  • APNU continues protest for Local Gov’t polls
  • Students scammed by bogus nursing school wants money back
  • GPL cuts power to University’s IT Lab
  • Sports
Trotman vows to stay in Speaker’s chair    Posted: 30 Sep 2014 02:09 PM PDT
Alesie Rice company worries about licence after fallout with Ramsammy    Posted: 30 Sep 2014 02:08 PM PDT   Continue reading
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