Category Archives: Economics/Finance

Asian wood companies told to start value added production or face contract termination

Asian wood companies told to start value added production or face contract termination

Governance Minister Raphael Trotman

Raphael Trotman

[29 July 2015 – Demerara Waves – Written by  ]

Bai Shan Lin Forest Development Inc. and Vaitarna Holdings Private Inc. will have their contracts, which allows them to harvest timber from Guyana’s forests, terminated if they fail to commence value-added operations by year-end, says Governance Minister Raphael Trotman.

Bai Shan Lin established itself in Guyana in 2005 and has several concessions in Guyana, including around 960,000 hectares of forest, a 20-kilometer river gold mining concession, and 400 acres of land for real estate development. Vaitarna’s also holds a concession for several hundred thousand hectares of forest.
Continue reading

Video: Pres. David Granger – Speech at UN International Conference on Financing for Development, 2015

President David Granger – Speech at International Conference on Financing for Development, 2015

VIDEO: http://webtv.un.org/search/david-arthur-granger-guyana-1st-plenary-meeting/4351832917001?term=guyana

FfD_Logo-140David Arthur Granger (Guyana), 1st Plenary Meeting –  [UN Video]
13 Jul 2015 – His Excellency David Arthur Granger, President of the Republic of Guyana, at the 1st Plenary Meeting of the 3rd International Conference on Financing for Development, Addis Ababa, Ethiopia 2015

Obama warns on Africa leaders refusing to step down

Obama warns on Africa leaders refusing to step down

US President Barack Obama delivers a speech at the African Union Headquarters in Addis Ababa on July 28, 2015

US President Barack Obama speaks at African Union HQ

[28 July 2015 – BBC News] US President Barack Obama has ended his visit to Africa by warning the continent will not advance if its leaders refuse to step down when their terms end.  “Nobody should be president for life,” Mr Obama said.

He was speaking at the African Union‘s headquarters in Ethiopia’s capital, Addis Ababa, the first time a sitting US president has addressed the body.

Earlier in the trip, Mr Obama visited Kenya, the homeland of his late father.    Continue reading

Logging & Mining: BaiShanLin concessions warrant special review + video

BaiShanLin concessions warrant special review

JULY 24, 2015 | BY |By Kiana Wilburg

– Guyana is yet to know how it has benefitted –Presidential Advisor

wamara-300x183Presidential Advisor on Sustainable Development Dr. Clive Thomas will soon be making recommendations to the Granger administration for all concessions granted to major foreign investors to come under special review.

Dr. Thomas said that the concessions granted to one major company, BaiShanLin, need to be investigated thoroughly.
In a recent interview with this newspaper, the economist said that it is imperative for the new Government to have a “proper understanding” of how the nation is benefitting from the “hefty concessions” which were granted to these companies during the time of the past administration. He stressed that doing this will also help the government to manage how the country benefits in the long term from foreign companies.   Continue reading

President Obama visits Kenya – July 2015 – pictures and articles

Obama in Kenya – pictures and articles

Posted: 26 Jul 2015- [Links compiled by the St. Stanislaus College Blog]

 President Barack Obama arrived in Kenya, his father’s birthplace on Friday July 24 . At dinner on July 25, he cracked a joke about the most famous conspiracy theory that has dogged him since he became President of the USA:

“I suspect that some of my critics back home are suspecting that I’m back here to look for my birth certificate,” the President laughed while delivering a toast at a state dinner hosted by his Kenyan counterpart, President Uhuru Kenyatta. “That is not the case.”

Here are a number of links of pictures and articles regarding  President Obama’s tour of Kenya:-   Continue reading

GUYANA – Latest News – 27 July 2015 – Demerara Waves

    GUYANA – Latest News – 27 July 2015 – Demerara Waves

GUYANA – Latest News – 24 July 2015 – Demerara Waves

    GUYANA – Latest News – 24 July 2015 – Demerara Waves

  • Guyana’s existence, regional peace under threat, President Granger says in the US – Demerara Waves  http://bit.ly/1HOWwGe
  • Ministries’ manipulated public servant leave systems– Minister Harmon – Demerara Waves  http://bit.ly/1TXFlaN
  • New GPC’s latest US$6m contract under legal review as Health Ministry addresses sole-sourcing – Demerara Waves  http://bit.ly/1VFnozz
  • Patch-work for water damaged roads to continue throughout rainy period – Demerara Waves  http://bit.ly/1CVCJ9r

Guyana- Putting country first – commentary

Guyana Map 2015

Guyana Map – click to enlarge

Putting country first

July 21, 2015 | By | Filed Under Editorial

Despite all the financial and economic problems facing the country especially with the sugar and rice industry, Guyana has an abundance of natural resources, arable land, mineral deposits, natural ports and a young and educated population to move the country forward.

With the recent discovery of oil, the economic growth potential in Guyana is very high. Despite these advantages, poverty, unemployment and crime, especially among the youths are on the rise in Guyana and the country continues to face serious economic and social challenges. Continue reading

ExxonMobil oil find may be 12 times Guyana’s GDP

ExxonMobil oil find may be 12 times Guyana’s GDP

President David Granger during his visit to the ExxonMobil's rig.

President David Granger during his visit to the ExxonMobil’s rig.

July 21, 2015 4:45 pm [Bloomberg.com] – An Exxon Mobil Corp. discovery off the coast of Guyana may hold oil and natural gas worth 12 times the South American nation’s entire economic output.

The Liza-1 well, which probably holds the equivalent of more than 700 million barrels of oil, may begin pumping crude in as few as five years, Raphael Trotman, Guyana’s minister of governance, said in an interview Monday 20 July 2015. Continue reading

Three quakes within 15 minutes as seismic activity continues off Barbados

Three quakes within 15 minutes as seismic activity continues off Barbados

July 21, 2015 12:14 pm mon-night-quake

[Caribbean 360] – Three more earthquakes with strengths of between 4.0 and 4.5 magnitude, were recorded within a 15-minute span late yesterday evening, as heightened seismic activity continued to the northeast of Barbados.

The UWI Seismic Research Centre reported that a 4.3 magnitude tremor occurred at 6:59 p.m., 116 km northeast of Bridgetown, 236 km east of Castries, St. Lucia and 260 km east southeast of Fort-de-France, Martinique.  Continue reading

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