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JOHANNESBURG, South Africa – A battered West Indies was slated to begin their long trek back to the Caribbean last night, still picking up the pieces from a bruising ICC Champions Trophy campaign where they failed to win a single match.
The squad was scheduled to fly out at 9 p.m. (3 p.m. Eastern Caribbean time), and are expected to arrive in Barbados this evening, after connecting through London.
They depart the tournament on the heels of their latest loss, a seven-wicket defeat to India at The Wanderers on Wednesday.
It was their third successive loss in Group A following defeats to Pakistan in their opening match followed by Australia.
The side, decimated by the loss of the elite players because of the ongoing contracts row, finished bottom of their group and was the only team in the tournament to finish without a win to their name.
Floyd Reifer, who endured an abysmal series with the bat with 30 runs from three innings, praised the inexperienced squad following their final match, pointing out they had gained crucial experience.
“I thought our team had a good tournament. Our bowlers did really well through the tournament. (Kemar) Roach bowled quickly, Gavin Tonge had a very good tournament as well,” the 37-year old, recalled to lead the side after 10 years out of international cricket said.
“(Nikita) Miller bowled well and our fielding was really good and as a team I thought we performed fairly well in the tournament.
“These guys are the future of West Indies cricket. This is only their sixth game as a team and the most important thing for us is to keep improving.”
The failed Champions Trophy campaign represents the second successive flop for the makeshift side, after they were hastily pulled together in July following the elite players’ boycott.
The new-look outfit, comprising several players without any international experience, were swept 2-0 in Tests and 3-0 in One-day Internationals by minnows Bangladesh in the home series in the Caribbean.
West Indies’ next overseas assignment is a three-Test series in Australia starting in November and efforts are already underway to broker deal which would see a full strength team being selected.
Stabroek News (Guyana)
Guyana’s investment attractiveness was yesterday emphasized at a special investment seminar organised by the Guyana Office for Investment (Go-Invest) as part of the activities for this year’s GuyExpo.
Geoffrey Da Silva
The seminar was held at the International Conference Centre, Liliendaal and it drew both local and overseas participants. The majority of overseas participants were from the USA and St Lucia.
Head of Go-Invest Geoffrey Da Silva told the gathering that “economic development in Guyana is characterized as open, competitive, diversified and sustainable” and that there is scope for investment in the various regions of Guyana, while noting that foreign direct investment (FDI) has recently increased.
During his presentation titled ‘Investment Opportunities in Guyana,’ Da Silva said that for this year Regions Nine, Ten and Six had seen significant increases in investment projects when compared to previous years. He said Lethem had become an attractive area for investment, especially with the opening of the Takutu Bridge. Linden and the Intermediate Savannahs in Region Ten and areas along the Corentyne and in East Berbice were also identified as the specific areas where investment projects have blossomed. He emphasized that Linden was fast becoming an attractive place to do business because of the skilled workforce available and because of is potential as a trading point. Da Silva, however, noted that the largest number of projects is still located in Region Four.
He said that for this year agriculture, services (including transportation, financial, medical, machining and retail/commercial) and wood products were the sectors registering the most significant growth in terms of local and foreign investors. According to him, “these three sectors comprise 70 percent of the total number of projects.”
Da Silva also pointed out that there were several general incentives for all investments. He identified benefits such as: no foreign exchange controls, unlimited carryover of losses from previous years, accelerated depreciation on machinery and equipment, full and unrestricted repatriation of capital, profits and dividends. Other benefits, he noted, were “Double Taxation Treaties with the UK, Canada and Caricom countries as well as the right of businesses to open and retain foreign exchange accounts with commercial banks of their choice.”
During his presentation, Da Silva made reference to a recent study commissioned by the UK’s Department for International Development (DfID) that identified two major binding constraints to economic competitiveness in the Caricom region, including Guyana. These are the low level of entrepreneurship among small and medium-sized enterprises (SMEs) and their low level of innovation.
He stated that the study concluded that Caribbean entrepreneurs had to “prioritize the needs of their customers, ensure that their employees are adequately compensated and to invest in the communities where they are located.” Da Silva told the gathering that these constraints are being addressed locally through the cooperation of the government, international development agencies and the local private sector. He said that co-investing with private investors had resulted in modern infrastructure, improved business support services and more emphasis being placed on skills training of employees.
He explained that this was being done mainly through the National Competitiveness Strategy Implementation Plan and the Agricultural Diversification Plan.
Meanwhile, Da Silva noted that recently there has been an increase in foreign direct investments (FDI) in Guyana. While pointing out that the largest number of FDI projects continues to be from the USA and Canada (68), he noted that more FDI projects are being facilitated from other countries such as Trinidad and Tobago, Barbados, China and Brazil.
He also said that a significant part of this were investments in projects by overseas-based Guyanese as he noted that 64 such projects had been achieved up to September 19. This he noted was an improvement of the 44 projects from last year.
Speaking about the sustainability of enterprises locally, Da Silva stated that the sustained development of an economy is based on achieving a “balanced diversification of new investments and re-investments.” Providing data for investments, he said that there were 154 new projects, the expansion and upgrading of 115 projects and 5 mergers and acquisitions. “
He also noted the importance of “achieving a balanced growth of micro, small, medium and large companies.” According to the statistics, there have been investments in nine micro, 168 small, 67 medium and 30 large projects, so far for the year.
This special investment seminar is held every year to coincide with the holding of GuyExpo. In addition to the seminar, Go-Invest is holding meetings with representatives from the different countries that have come to Guyana for GuyExpo.
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COMMUNICATION Workers Union (CWU) president Joseph Remy yesterday declared “power to the workers” as he informed more than 200 trade union members that the Telecommunications Services of Trinidad and Tobago (TSTT) had unconditionally withdrawn the industrial relations offence (IRO) against the CWU. “This is the first step towards victory. I not calling that a victory yet. We have only won round one of the battle,” Remy told a gathering outside the Industrial Court in Port of Spain after the hearing on the IRO ended. Earlier, members of various unions had begun protesting in front of City Gate, Port of Spain, around 9 a.m. and briefly marched through the streets to the court. After the ruling, Remy stressed it was not the time for complacency as there were 68 TSTT workers still on suspension and action would not stop until these were unconditionally withdrawn. He added there were also workers on suspension from the Water and Sewerage Authority (WASA) and the Public Transport Service Corporation (PTSC). “We can’t afford to stop,” he said. Two police officers attempted to stop the protest action, informing Oilfields Workers’ Trade Union president general Ancel Roget they were blocking the pavement, a move which resulted in union members singing even louder. After a brief discussion, the officers left and about five more returned to later observe from across the street. A male OWTU member, who was reportedly diabetic, fainted on the other side of the street and was quickly attended to by other union members. One protester held a placard which read “Our rights, freedom, livelihood have been taken away in TSTT, Mr CJ, Mr DPP”. State entities TSTT and PTSC filed separate applications in the Industrial Court to have the CWU and Transport and Industrial Workers’ Union (TIWU) stripped of their rights to negotiate on behalf of workers at TSTT and PTSC respectively. The companies used a recent clash between CWU members, workers and company security, and the recent decision by PTSC workers to take strike action as the basis for their action. At the post-Cabinet media conference on Thursday, Minister in the Ministry of Finance Mariano Browne said the line ministers had been directed to speak with TSTT and PTSC management to have them cease moves to decertify the unions. Yesterday, Remy said this move by the companies was meant to placate the trade union movement so they will not protest for next month’s Commonwealth Heads of Government Meeting (CHOGM), and it would be peaceful for the arrival of the Queen of England. He said, however, the trade unions would continue with plans to protest and described the Queen’s visit as a return to colonial days. “God save our Queen, my eye, is God save Trinidad and Tobago!” He said the Queen “must bow to us” and promised that she would see a type of labour movement mobilisation “that she would have never seen in her entire life”. TIWU president Roland Sutherland told the Express that his office received a document yesterday morning from PTSC, which stated the company would be withdrawing the matter from the court “as directed”. His union will be returning to the Industrial Court on Tuesday, for the matter of an injunction that forced striking bus drivers to return to work. The National Trade Union Centre said in a release yesterday Government cannot escape responsibility for the attempts at decertification by TSTT and PTSC and repeated calls for the Industrial Relations Act to be amended to prevent decertification of trade unions. |
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Two companies in the Neal & Massy Group have laid off 36 employees because of the downturn in car sales. “In light of the 40 per cent decline of new vehicle sales on the local market, resulting from the deterioration of global economic conditions, Neal & Massy Automotive Ltd and City Motors Ltd took several steps in the last financial year to manage costs,” the companies said in a joint statement yesterday. The companies also implemented cost-control measures including reductions in inventory, overtime, travelling and ancillary expenses, together with negotiation with suppliers to reduce prices. “However, due to the continued decline in sales, a further level of cost containment, which includes a revision of our current organisational structure, must be undertaken,” they said. “As a result, we wish to advise that a total of 36 jobs have been cut across both organisations.” This included 25 jobs at Neal & Massy Automotive Ltd and 11 jobs at City Motors. “We believe that the reduction in related headcount expenses will allow the companies to continue operating satisfactorily in the present economic climate,” the companies said. They said service to customers would not be compromised. |
GEORGETOWN, Guyana — President Bharrat Jagdeo has called for a strong partnership with the private sector as part of his government’s effort to move Guyana’s economic development forward in this time of global economic pressures.
Addressing the official opening of the annual trade fare and exposition, GUYEXPO 2009 on Thursday evening the president said the life of this partnership is set out in the national development strategy crafted under his administration. He told the several hundreds of businessmen, diplomats and other citizens gathered for the opening of the sic day event that it is his “firm” belief that for this country to continue along its currently positive developmental path, there must be strong collaboration between private sector and the government. Jagdeo said during recent conversations with the Private Sector and the Guyana Public Service Union (GPSU) executive they have shown a strong resolve to working with his administration. “They said to me that they are interested in a partnership going forward, working with the government to create value to crate wealth in out country, I am very optimistic about the future and my government remain on the side of these optimists and we will continue to support those who seek opportunities and are not afraid to take the bid,” Jagdeo said.. He however cautioned that both his administration and the private sector cannot turn their backs on the challenges present. “Many of our people are hurting because of the financial crisis which resulted from decisions made far from Guyana…collapse of CLICO (Colonial Life Insurance Company) Guyana prove that open economies like ours are not immune from negative global forces,” he said. The president outlined the many challenges the global financial crisis presents for Guyanese businesses and individuals, adding that his government is also cognizant of them. He said this goes to show that open economies like Guyana are not immune to the impact of negative global events. “But challenging as recent times have been, we can take pride from the limited impact the global crisis has had on out economy this is not an accident, but the consequences of prudent economic polices which meant that we could withstand much of the economic hocks we experience and which will provide the basis for the next wave of our economic expansion,” he said. As such he urged that as Guyana faces the coming years despite the response of some, its obligation is to protect the lives and jobs of those threatened by the crisis. Jagdeo says there must also be a focus on the opportunities this meltdown presents for those with a vision. Recent internationally recognized estimates have shown that Guyana has not been adversely affected by the crisis like its sister Caribbean countries. This was credited to the many monetary reforms government has undertaken over the past decade. |
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| ST GEORGE’S, Grenada — Acting Prime Minister Michael Denis Lett says he is pleased that the international community continues to recognize the Grenada government’s management of the national economy.
“It is clear that important institutions, such as the IMF, have recognized that this administration is serious about protecting workers and their families, especially in this time of global economic crisis,” he said. The acting Prime Minister was responding to the latest commendation from the International Monetary Fund (IMF), which has described the impact of the global economic downturn on the Grenada economy, as worse than that of Hurricanes Ivan and Emily. According to the September 25th, 2009 statement from the Head of the IMF Mission to Grenada, Mr. Phillip Young, “Grenada, like the rest of the ECCU and the Caribbean, has been hit hard by the global economic downturn—a negative shock more devastating than the recent hurricanes in terms of employment and growth.” This factual commentary by Young, conflicts significantly with the misleading, unfounded comments by the Leader of the Opposition, Keith Mitchell, who mis-quoted the IMF and its most recent report on the Grenadian economy. The statements are unfortunate, mischievous and are designed to undermine the Grenadian people’s confidence in the government’s ability to manage the economy. The IMF, in fact, further states that “the authorities are to be commended for their strong economic and financial management of the Grenadian economy during these turbulent times. Policies have put particular emphasis on protecting employment opportunities and mitigating the impact of the shock on the most vulnerable members of society, while still aiming to keep the economy on a path toward debt sustainability.” It must be pointed out that millions of dollars provided to Grenada by Trinidad for the upgrade of the Coast guard, was used by Mitchell’s New National Party Government to pay salaries of government employees, prior to the elections of 2008. This was at a time when the effects of the global economic recession on the national economy were not as severe as now. As outlined in the IMF report, the government has, so far, met all its commitments and obligations. The Grenada government will continue to make every effort to meet its commitments, particularly to its employees, in a timely manner. |
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| By Gillian Applewhaite
BRIDGETOWN, Barbados (BGIS) — CARICOM Heads of Government, heads of regional institutions, and representatives of non-governmental organisations and the public and private sectors, are expected in Barbados next week for a two-day Convocation on the CARICOM Single Market and Economy (CSME). The meeting will take place on October 9 and 10 under the chairmanship of Prime Minister David Thompson, Lead Head of Government with responsibility for the CSME. Among the items to be discussed are the status of the implementation of the Single Market, including a review of the schedule of free movement of persons, and contingent rights. The establishment of the single economy will also be examined, with emphasis being placed on the macro-economic policy framework and the creation of integration support institutions. In addition, there will be an open forum at which all stakeholders attending the meeting will be given an opportunity to share their views on the CSME. The decision to convene the Convocation was made in July of this year at the 30th CARICOM Heads of Government Meeting in Guyana. |
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