Tag Archives: sugar

Anti-Money Laundering Bill…hike in foreign currency rates feared

Anti-Money Laundering Bill…Local businesses brace for hike in foreign currency rates

US Dollar Notes

US Dollar Notes

MAY 11, 2014 | BY  |

The non-passage of the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill by this month-end would see financial hardships threatening Guyana’s economy.
This view was expressed by Nazar Mohamed, General Manager of Mohamed’s Enterprise, recently.

According to Mohamed, there is currently no shortage of foreign currency on the local market. He assured that there is no problem in customers getting money transfers or cash from commercial banks to conduct business. There may be instances where a customer would be asked to wait a day or two but there is no lengthy delay. However, a matter of concern is the hike in exchange rate for US dollar as against the Guyana dollar.

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Gold prices, sugar slump will lower Guyana’s growth this year – IDB

Gold prices, sugar slump will lower Guyana’s growth this year – IDB

FEBRUARY 5, 2014 | BY  |

A slump in gold prices and poor performance from the sugar sector will see Guyana facing major downside risks to its growth momentum, the Inter-American Development Bank (IDB) has said.
In its Caribbean Region Quarterly Bulletin issued last month, the bilateral lending agency said that this will lead to a lower growth forecast for 2014 at 4.3 percent. This will be below the 4.8 percent growth recorded last year.   Energy cost also remains a big worry for Guyana.

Rice warehouse

Rice warehouse

Rice helped buoy the economy last year but it may not be enough to sustain it at the same level this year, IDB says..

“Further downside risks may stem from lagging investments in productive infrastructure, especially roads, ports and electricity; as the economy’s competitiveness and capacity to diversify are stymied by high energy costs, limited electrical generation capacity and poor quality of electricity service.” Continue reading

OMG !!! SUGAR??? – By Ron Persaud

OMG !!!  SUGAR???

By Ron Persaud – rpersaud7@tampabay.rr.com

They want to regulate sugar!  Sucrose! C12 H22 O11. Oh! That sweet stuff I used to suck from a piece of sugar cane which my mother had thoughtfully and lovingly peeled for me. Do you remember how they sliced away the cane peel, chopped out the two “knots” and split the clean joint into four manageable pieces by two vertical slices at right angles to each other?

A vendor near the Georgetown Ferry Stelling went one better. He would squeeze the juice out of the sugar cane stalks on a portable mill and sell the sweet, cool liquid for 8 cents a glass. I can recall the milk-colored “squeezings” oozing as he re-doubled the rinds and doubled down on his efforts for yet one more time. As a youth I often had to guide my grandparents’ age group around the city; the hospital, Post Office Building etc. Their trip would end with me accompanying them to the stelling for the beginning of their homeward trip to Leguan. My reward was a “small piece” and a glass of cane juice if the vendor was there. Continue reading

GuySuCo – Incompetence at Skeldon factory – Commentary

It must have hurt the Minister of Agriculture a great deal to have to admit the incompetence at Skeldon  
Written by realTalk   – Demerara Waves
Sunday, 28 August 2011
Last week, the Honorable Minister of Agriculture revealed to Guyana that GuySuCo does not possess the competence to run the US$100M Skeldon Sugar Factory. He went on to encourage its Board of Directors to hasten the consideration of the proposals currently on the table by companies from China and India to take over the management of the failing factory.To make this admission had to be a really hard and painful decision for Minister Persaud in the face of all the propaganda and hype that the government generated around this factory that was to be the saviour of the Guyana sugar industry. After Booker Tate, the global leader in the provision of development, management and technical services to the world of sugar, ethanol, bio-energy and other agribusiness projects, had been unceremoniously dismissed by the Government, it seems rather strange that more foreign management is being sought once again for the troubled factory.        Continue reading

Coolies – How Britain re-invented slavery – videos

Coolies – How Britain re-invented slavery – videos

This story tells you how England recruited people from India under “contract”  to replace the African labour in agriculture after slavery was abolished in 1834.  It is believed that these Indians were tricked into leaving India to go places like  Guyana, Fiji & Africa, to work as “Indentured Labourers”.

In this documentary one man is looking for any sign of his great grand father who came to Guyana. Another man also looks for his roots in Fiji.  Indians had to deal with SOME of the same living conditions and cruelty that the Africans, and others, endured earlier under slavery,  before 1834

In this case, however, unlike under African based slavery, there was a time limit for their labour, even though it was harsh at times.  They were free after their five year “contract” to renew their contract, or return to India or accept land in lieu of their passage home as was the case in in British Guiana (Guyana).

In British Guiana, After slavery was abolished the Africans got their “freedom” but no land or compensation for over 200 years labour by them and their ancestors.  They had to work and save to buy abandoned estates to form their first villages like Victoria, Beterverwagting and Buxton on the East Coast of Demerara.

In  Guyana’s 2002 Census, people claiming to be East Indian made up 43.45% of the population of 751,233. ( see Census Reports here)

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