Category Archives: Economics/Finance

“Forget Terrorism”: The Real Reason Behind The Qatar Crisis Is Natural Gas – By Tyler Durden

“Forget Terrorism”: The Real Reason Behind The Qatar Crisis Is Natural Gas

According to the official narrative, the reason for the latest Gulf crisis in which a coalition of Saudi-led states cut off diplomatic and economic ties with Qatar, is because – to everyone’s “stunned amazement” – Qatar was funding terrorists, and after Trump’s recent visit to Saudi Arabia in which he urged a crackdown on financial support of terrorism, and also following the FT’s report that Qatar has directly provided $1 billion in funding to Iran and al-Qaeda spinoffs, Saudi Arabia finally had had enough of its “rogue” neighbor, which in recent years had made ideologically unacceptable overtures toward both Shia Iran and Russia.

However, as often happens, the official narrative is traditionally a convenient smokescreen from the real underlying tensions.    Continue reading

Guyana: No advances on oil revenues- Finance Minister Jordan

Risky taking advances on projected revenues  – sufficient money in the treasury 

Stena Carron: Drilling at Liza 3

Finance Minister Winston Jordan on Monday ruled out Guyana taking advances from oil revenues to help stimulate the economy, warning that to do so would be fraught with danger in a country where there is already sufficient money in the treasury but limited human resources to spend.

“It’s no sense going taking advance on potential revenues to be had post 2020 when you can’t spend it in the open and transparent manner that it should be done,” he said when asked by Demerara Waves Online News.    Continue reading

Oil deal with Exxon…Guyana to get two percent royalty; 50 percent of profits

Oil deal with Exxon…Guyana to get two percent royalty; 50 percent of profits

Exxon-Mobil- Deep Water Champion Oil Exploration Rig

It is now final. Guyana is to receive a two-percent royalty on gross earnings and 50 percent of the “profits” of the oil proceeds when production starts in 2020.

Extraction from the offshore Liza field is expected to commence in 2020 at an initial rate of 100,000 barrels of crude per day in the first phase, with a Floating Production Storage and Offloading (FPSO) vessel providing the main infrastructural support for the project, a statement from the Ministry of Natural Resources said on June 1, 2017. Continue reading

Guiana Shield tourism initiative takes centre stage at UN – By Ray Chickrie

Guiana Shield tourism initiative takes centre stage at UN
Published on May 29, 2017 – By Ray Chickrie – Caribbean News Now contributor
guianas_shield_tourism2.jpg

Guyana’s ambassador to the UN, Rudolph Ten-Pow (L) and his Suriname counterpart Henry MacDonald (R)

NEW YORK, USA — The Guiana Shield Tourism Initiative, the brainchild of Henry MacDonald, Suriname’s permanent representative to the United Nations, and supported by Guyana’s ambassador to the UN, Rudolph Ten-Pow, took centre stage at the UN on Tuesday May 23, 2017. 

The Guiana Shield Tourism Initiative falls within the United Nations Sustainable Development Goals (SDGs) and calls for private public partnership (PPP) to drive the initiative.   Continue reading

China set to invest massively in Latin America and the Caribbean

China set to invest massively in Latin America and the Caribbean

Published on May 25, 2017 – caribbeannewsnow.com

Caribbean map – click to enlarge

MIAMI, USA — Historically, Latin America and the Caribbean have long looked to the US for support in terms of trade and investment, yet have often been left wanting. Now good times seem to be on the horizon, thanks to the promise of truly massive Chinese investment and trade that will completely overhaul and regenerate both regions in the coming years.

For more than a century, the nations of Latin America and the Caribbean have gazed hopefully at the United States and its vast wealth, hoping for solid investment and consistent trade that would elevate those regions out of the realms of the “Third World” and instead to a level on par with the US and Europe.
Continue reading

Time to R. E. B. U. I. L. D the Black Community – By Yvonne Sam

Time to R. E. B. U. I. L. D the Black Community

By Yvonne Sam

The Merriam Webster dictionary thus defines the word “development” –the act or process of growing or causing something to grow, or become larger or more advanced.  The word is also defined as “the act or process of creating something over a period of time”.  The truth be told, if we expect our communities to grow, become larger and more advanced as we create something noteworthy and significant over a period of time, then we must hanker after “development more than anything else.  It is time for the Black community to be rebuilt.    Continue reading

Business is not bad. The businesses are moving out of Georgetown – Adam Harris

Business is not bad. The businesses are moving out of Georgetown

Adam Harris

President David Granger is bent on pursuing a programme that would ensure a good life for all. In the face of talk about unemployment there is increasing employment. It may not be recognized, but more people are working. The unfortunate thing is that people are still refusing jobs under the pretext that they do not want “that job.”

Many young people feel that they should all work in offices, even though they are not so qualified. So bent are they on getting what they want, that they do not take time to take what is available and work for what they want. Many do not even seek to enhance their qualifications. They seem stuck in what they have done.    Continue reading

Radical Technological Disruption – The Shake up in Transportation

We Are on Cusp of ‘Deepest, Most Consequential Disruption of Transportation in History’

By Andy RowellMonday, May 15, 2017 – By Oil Change International

(Photo: Nicolas Nova/cc/flickr)

“We are on the cusp of the fastest, deepest, most consequential disruption of transportation in history.”

Within ten years, we may witness a radical technological shake up in the way we drive as people switch from petrol and diesel engines to self-drive electric vehicles.

The cars will be owned by fleets, not individual owners. The days of individual car ownership are coming to an end, as people switch to self-drive electric vehicles which are ten times cheaper to run. They will also be significantly cleaner.    Continue reading

China’s Xi lays out $900bn Silk Road vision amid claims of empire-building

China’s Xi lays out $900bn Silk Road vision amid claims of empire-building

Global leaders attend ‘Belt and Road’ infrastructure summit to praise plan Xi Jinping says will bring a new ‘golden age’ of globalisation

PHOTO: A Chinese flag flies over Tashkurgan, a tranquil frontier town on China’s border with Pakistan, which is bracing for change as President Xi Jinping kicks off what some call the most ambitious development plan in history, the ‘Belt and Road initiative. Photograph: Tom Phillips for the Guardian.

Commentary: Guyana should come first and then… – By Leonard Gildarie

The Story within the Story… Guyana should come first and then…

Leonard Gildarie

A dear friend of mine and her family are here on vacation. She has lived in New York for the past two decades, has her own small business, and a daughter in college. She is seriously thinking of coming back here.

For many Guyanese living in Queens especially, life is tough in the private sector. Several small businesses along Liberty Avenue have been forced to close because of a drop in sales and the fact that more efficient and less costly services are being offered by the deep-pocket competitors.

It would mirror what is happening in the region and in Guyana, and drives home the reality that we are not alone in the world.     Continue reading

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