VEGETABLE RICE; MACARONI PIE
HERBAL DUO OF YAM AND POTATOES
ROASTED PORK; BAKED CHICKEN
BBQ SPARERIBS; BBQ PIG TAIL
FRIED SNAPPER; GRILLED FISH
SEA CAT; CURRIED CHICKEN STEW
PLAIN SAUCE; STEAMED VEGETABLES
TOSSED SALAD; COLE SLAW
GEORGETOWN, Guyana (GINA) — The Amaila Falls Hydropower Project (AFHP) is the next major development undertaking for Guyana that will revolutionise the electricity sector, making it more reliable and cheaper to the business community and regular consumers.
Projected to be completed within the next three years, the project, located at Amaila Falls in the Kuribrong River, a tributary of the Potaro River will have enough capacity to be the source of the country’s entire electricity needs. With a height of approximately 200 feet, flowing down a series of rapids and falls for almost two miles before reaching placid water, the Amaila Falls Project holds the potential to produce some 140 megawatts of electricity which can produce 70 percent of the country’s electricity needs. Ahead of the actual construction however, Government has begun facilitating arrangements for access to the site with a US$15M contract award for construction and upgrade of 110 kilometres (km) of new roads coupled with upgrades to 85 km of existing infrastructure. Among the interventions is the construction of bridges across the Kuribrong River, a pontoon to cross the Essequibo River and the cutting of some of the pathways for the transmission main. Such an undertaking is likely to take eight to ten months during which time financial closure with Sithe Government has engaged the Inter-American Development Bank and China Development Bank and other investors in discussions on securing the financing so that the project could advance. At an interview in 2009 with Kaieteur News journalist Adam Harris and editor in Chief of the National Communications Network (NCN) Michael Gordon President Jagdeo said “it will cost us three-times more to build the hydro and to transmit the electricity from the long distance than if we were to go to the fossil type of investment, but in the long run, it will assist tremendously because the cost of generation will come down. Secondly you don’t have to pay because it is a renewable resource.” Speaking at Wednesday’s Champion of the Earth award welcome home ceremony, at the Cheddi Jagan International Airport (CJIA) the Head of State said the commencement works on the project will begin by the end of this year. Referring to the controversy which surfaced after the contract was awarded, the President said such a reaction has been evident in every big project undertaken by the Government. Nevertheless he said “we went out to a public tender and we awarded the contract to the best bidder.” |
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| GEORGETOWN, Guyana (GINA) — As fans across the cricketing world prepare to support their favourite teams and players, the Government of Guyana, through the Ministry of Tourism, Industry and Commerce is putting forth greater efforts to ensure that all necessary protocol and regulatory systems are in place to facilitate an easy process, as the spotlight will be focused on the National Stadium, at Providence, East Bank Demerara, on Friday.
Present to welcome visitors, overseas-based Guyanese and foreigners and officials, among others, was Tourism Minister, Manniram Prashad, who said that “There are so many good things happening in Guyana, and as a result, we have repeat visitors. Years ago, people just came for Christmas or the August holidays. Now, some visitors who were in Guyana for the annual Mashramani celebration have returned for the cricket.”
The Minister made these comments in support of a collaborative effort by the Ministry of Tourism, the Guyana Tourism Authority, the management and staff of the Cheddi Jagan International Airport and various members of the business community in Guyana, who provided sponsorship for the welcoming activity, for passengers arriving on two Caribbean Airlines flights, from Toronto and New York. Ministry staff and representatives of various corporate sponsors welcomed persons with rum-punch and snacks, while cellular phone credit, cricket balls, flags of Guyana and company brand give-aways were distributed as passengers listened to the sounds of live Tassa and African drumming. The Minister noted that Guyana has one of the best cricket venues in the Caribbean, which has become very famous, is one of the reasons why the Ministry is expecting a huge influx of visitors coming to Guyana for the Championship. With reports showing that all hotels are booked, the Ministry and the Guyana Tourism Authority are organizing bed and breakfast services, to assist in placing persons who are unable to find accommodation. For this purpose, the Ministry will be establishing a hotline so that all persons experiencing problems in this regard can call for assistance. Minister Prashad emphasized that “As a result of the overwhelming support of tourists coming at this time, because the response is so much, we now have to put all of these extra measures in place to make sure that visitors in Guyana are assisted as much as possible.” Empirical evidence compiled by the Ministry has shown that from January to March, a period encompassing New Year, Republic Day, Phagwah and Easter festivities, Guyana experienced a 9 percent increase in arrivals over 2009. Based on this information, the Minister stated that “We expect this April to be the biggest month ever in the history of arrivals in Guyana, so the expectation is that thousands will arrive in the country at this time.” With the future diversification of the economy, and a move towards manufacturing, industrial operations and the provision of services, the promotion of tourism has been a front burner agenda of the Administration, with resources being channelled into ensuring that visitors to Guyana are afforded high quality treatment, service and standards, from the airport to the hotel. The Ministry of Tourism has been conducting training sessions and seminars to support airport staff, frontline management, desk-clerks, receptionists and taxi-drivers, among other categories of persons within the hospitality industry. He added that “We want to ensure that when people come to Guyana, they get a good impression of our beautiful country and that is why we have to now improve our quality. We also solicited help from overseas to a get a trainer to train the staff in the proper strategies to effectively manage their facilities. That’s what tourism is all about standards and service.” (Caribnet) |
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| CARACAS, Venezuela (Reuters) — Venezuelan President Hugo Chavez on Thursday welcomed the success of his appearance on the micro-blogging site Twitter, where more than 90,000 followers have signed up in just a couple of days.
“This has been an unexpected explosion. Thanks,” Chavez said in his second tweet, this one from Barinas in Venezuela where he was hosting Bolivian President Evo Morales. “I’m here with Evo. We will conquer!!” Irked by the Venezuelan opposition’s wide use of networking sites to coordinate their activities, the socialist Chavez has urged his supporters to take to the Internet too. He set the example by setting up his own Twitter page @chavezcandanga. That brought laughter from many Venezuelans, wondering how their famously verbose leader, who speaks near-daily for hours on end, will keep to Twitter’s 140-character limit. Chavez’s page, whose name includes “candanga,” which translates locally as a rebellious or strong-willed person, had nearly 94,000 followers two days after his debut on Tuesday. (Caribnet) |
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| WASHINGTON, USA (AFP) - Cuba must pay the United States six billion dollars in compensation for expropriated businesses and property before Washington lifts a decades-old trade embargo, a US lawmaker said Thursday.
“We must resolve the over six billion dollars in expropriation claims… before developing a more robust economic relationship with a post-Castro democratic government in Cuba,” said Kevin Brady, a Republican US representative from the state of Texas, speaking at a congressional hearing on US trade with Cuba. Brady’s remarks come after a top Cuban official last week challenged the United States to lift its punishing economic embargo against Havana. Cuba’s National Assembly president Ricardo Alarcon pressed Washington to “lift it, even for a year, to see whether it is in our interest or theirs.” After coming to power in 1959, Cuban leader Fidel Castro nationalized numerous US enterprises in the name of the communist revolution. In 1972, the value of Cuba’s expropriated US property was estimated to be worth about 1.8 billion dollars, according to a US government panel that examined the issue. That sum has grown more than three-fold over the years because of compounding interest, set at an annual rate of six percent. The Foreign Claims Settlement Commission of the United States (FCSC), the independent, quasi-judicial federal agency under the aegis of the US Department of Justice, is tasked with determining the monetary value of claims by US nationals for loss of overseas property as a result of nationalization or military operations. At Thursday’s hearing, the US Chamber of Commerce and non-governmental organizations including the Washington Office on Latin America (WOLA) argued in favor of relaxing trade restrictions against Havana. Brady said he was “open to loosening some restrictions on Cuba,” but only after the US government and private American interests divested of their property after the revolution were compensated. President Barack Obama came into office seeking better relations with Cuba, but after an initial thaw, tensions have set in again, most recently over Cuba’s treatment of dissidents. (Caribnet) |
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| WASHINGTON, USAS (AFP) — The Inter-American Development Bank agreed Thursday to provide an additional 90 million dollars to Haiti for a series of projects to help the country cope with the impact of the devastating January earthquake.
A grant of 50 million dollars will help provide budget support to Haiti, which expects its fiscal revenues to drop by as much as half this year due to the impact of the January 12 disaster. A separate disbursal of 30 million dollars will help authorities relocate some 5,000 families from tent camps in high-risk areas in Port-au-Prince to a new settlement with improved housing and sanitation services. Additionally, IADB will distribute a 10 million dollar grant from the Spanish Cooperation Fund for Water and Sanitation in Latin America and the Caribbean to improve water supplies to 60,000 Haitians in rural communities. Haitian authorities identified the department of the Artibonite which has 1.5 million inhabitants, as urgently in need of water and sanitation investments. (Caribnet) |
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Mark Titus, Business Reporter
Mobile service provider Digicel Group is believed to be seeking a negotiated settlement as one option in its bid to have its rival, Cable & Wireless Communications (CWC), lower the £15.5 million (J$2.09 billion) figure it said it had to shell out to defend a case unsuccessfully brought against it in the English High Court, by Digicel.
Digicel confirmed this week that it will be seeking to have reduced, the legal fees it was ordered to pay after its claims against Caribbean subsidiaries of CWC, which trades in the Caribbean as LIME, were dismissed in London two weeks ago.
The case, brought by Digicel in July 2007, sought US$100 million (J$9 billion) in damages from the former monopoly providers for alleged breaches of the telecoms statutes in six Caribbean territories - Barbados, Cayman Islands, St Lucia, St Vincent and the Grenadines, Grenada, and the Turks and Caicos Islands - during the roll-out of its mobile networks between 2002 and 2006.
Similar charges were also filed by Digicel against Telecommunications Services of Trinidad and Tobago (TSTT), jointly owned by the Trinidadian government and Cable & Wireless.
“We will vigorously seek to minimise CWC’s/TSTT’s inflated claim for costs,” Digicel said in a statement on Monday.
The company declined comment on its strategy, but well-placed sources say it includes talks with CWC, whose headquarters is in London.
At the same time, Digicel said it was not backing away from plans to pursue further recourse in its fight on the substantive issues.
“We reaffirm our disappointment with the decision announced on April 15 and continue to consider our position in this regard,” the statement said.
Further action could be in the form of an appeal in the UK and/or petitioning the Telecommunications Authority of Trinidad & Tobago to conduct an inquiry into the actions of TSTT and its contractor, Nortel, Digicel said a day after the ruling.
With the ruling against it, Digicel, which is headquartered in Jamaica, argued that it should only be asked to pay 80 per cent of the cost on the standard basis, but the UK High Court last Friday agreed with CWC that cost must be paid on an indemnity basis in six jurisdictions.
Justice Morgan, in his written judgment of April 23, was critical of TSTT, in which CWC has minority interest, saying its conduct “was contrary to honest practices”, and had “called untruthful evidence to support their denial” at the trial.
He marked his disapproval by withholding the awarding of their cost on an indemnity basis, ordering Digicel to pay only 87.5 per cent of the recoverable costs in that regard.
While taking solace in the fact that the judge ordered a reduced liability for costs to TSTT, Digicel is now contending that the figures advanced by the Trinidadian telecoms firm are inflated.
The judge, in awarding costs against Digicel, said the firm did not comply with pre-action practice direction and made no attempt to send a letter before action.
He also held that a Digicel press announcement the day before the Cable & Wireless Plc annual general meeting, was intentionally timed “so that those matters would be potentially damaging to Cable & Wireless Plc”.
The High Court judge also said Digicel, in its original press statement, “massively overclaimed” and had “put forward an excessive number of allegations of unlawful acts” and that claims that Cable & Wireless Plc had acted in a conspiracy were “always improbable, speculative and weak”.
Of the award amount, £8 million (US$12 million) was ordered paid within 28 days by Digicel on account of its ultimate liability for costs.
Digicel said it incurred £9.5 million in the pursuit of the case.
CWC has said its cost recovery will be accounted for as an exceptional gain in its 2010/11 accounts.(Jamaica Gleaner)
Wentworth Graham, chief market regulator in the Regulatory and Market Oversight Division of the Jamaica Stock Exchange. - File
Sabrina Gordon , Business Reporter
In four decades of operation, the Jamaica Stock Exchange (JSE) has imposed monetary punishment against infringers of only two rules of the 413 markers it has laid down for orderly stock market trading.
But now the exchange’s Regulatory and Market Oversight Committee (RMOC) has devised a new schedule of fees covering more of the rules, but has also tempered the extreme punishment of suspending or ultimately delisting companies - with the aim of securing new levels of compliance with JSE rules, but hitting them hard in the pocket if they do not.
The lowest fee is J$2,500 per day: the highest J$5 million. The schedule of fines apply to the 44 ordinary and preference listed companies on the main market.
The RMOC has published the schedule and is now awaiting market feedback before it puts the fees into effect.
“The JSE board requested of the RMOC, upon assuming the exchange’s regulatory responsibilities, to consider the matter,” Wentworth Graham, chief regulatory officer and head of the JSE’s Regulatory and Market Oversight Division, told the Financial Gleaner.
He said the proposal was being advanced as a means of: “Fostering and fulfilling the RMOC objective of adopting measures and rules that are necessary to strengthen the market and temper the exchange’s existing applicable penalty extremes of suspension or delisting.”
The two JSE rules that now attract a fine are the non-publication of financial returns within the rule-specified dates and the purchase by a company of its own shares over the rule-prescribed 200,000 units or loan capital amounting to J$100,000.
The current fines for late filings are J$5,000 per day, and the share purchase breach, J$5 million.
But the RMOC has so far reviewed and attached fines to 13 more of the rules, a document posted on the JSE website requesting comments said.
The J$5-million fine now applies to three of the rules.
“The rules that have been identified and mentioned in the document are under consideration at this point in time,” said Graham.
“Going forward, assessments of other rules could be considered to further the regulatory and market oversight committee’s mandate of
The biggest penalties, under the RMOC proposal, apply to member dealers who fail to keep proper books and records of monies received and spent in the course of business, breached sales and purchases of securities, and books showing separate accounts for clients and the firm.
A J$5-million fine is also to be imposed on dealers/brokers that conduct securities trading outside of trading hours without authorisation from the JSE board, as well as brokers who allow themselves to be named as a broker on any prospectus, statement in lieu of prospectus, or other document of offer without JSE board consent.
Listed companies which fail to submit their annual reports within 120 days will pay a sum of J$50,000. This is also the fine now attached to a company’s failure to forward the report to shareholders at least 21 days in advance of its annual meeting,
Fines are now attached to other breaches including failure to notify the JSE of annual general meetings within the prescribed time frame - a breach which can now cost a company J$25,000.
Also attracting a J$25,000 penalty are rules 216 and 223 which relate respectively to advertising and the trading for by one firm for the employee of another firm.
Rule 216 states that no member of the exchange may advertise for stock market business or issue circulars or business communi-cations soliciting business to persons other than its own principals unless it sends a copy to the board. Such notices are to be received at least three days before publishing.
A violation of this rule could create serious damage to a firm or even the market, the ‘JSE Rules: Fines and Penalties’ document stated.
Written consent
Rule 223 asserts that brokers should obtain written consent from another broker if they intend to undertake any transaction on behalf of an employee of that company.
The new JSE document pointed to the possibility that such a transaction could involve money laundering, kiting and illegal trading.
While companies normally comply with rules, the JSE said, there have been instances of delinquencies and non-advisory, which can lead to the lesser, but still important, repercussion of jeopar-dising the exchange’s mandate for information dissemination.
The process of reviewing the JSE rules to attach fines to breach started in April 2008. The current draft is dated November 2009.
In developing the fines, the exchange said, consideration was given to fines currently being levied by other regulatory authorities such as the Bank of Jamaica, the Financial Services Commission and the Companies Office of Jamaica.
The JSE is awaiting feedback on the draft document and imple-mentation could take up to 18 months.(Jamaica Gleaner)
Chairman, Board of Trustees, Duke of Edinburgh’s Award Jamaica, John Issa (right), speaks with British High Commissioner to Jamaica, Howard Drake, during the Duke of Edinburgh’s Award Jamaica ceremony at The Jamaica Pegasus hotel, New Kingston, on Tuesday. - JIS Photo
President of the Senate, Dr Oswald Harding (right), presents St George’s College student, Kedron Allen, with his silver award. - JIS Photo
More than 140 high school students were recognised for successfully completing various pursuits under the Duke of Edinburgh’s Award Jamaica, at an awards ceremony at The Jamaica Pegasus hotel on Tuesday.
The awards programme, a character-building initiative, allows young people aged 14-25 years to participate in activities aimed at fostering personal and social development. Persons who take part in the programme gain an award, for their involvement. The type of award depends on the degree of commitment.
Of the 143 youngsters honoured, 29 were given the silver award and 114 received bronze awards, which are two of three categories of awards. The gold award, the highest honour, is presented to persons 16 years and older, who have completed eight months to two years of activities, and exhibit responsible adult behaviour and citizenship.
For entry into the silver award category, youngsters should be 15 years or older and must be engaged in tasks for 12-18 months, while persons aged 14 years and older may gain the bronze award, which can be achieved between six months and a year.
To win an award, participants must complete activities in four sections for a specified minimum period of time. These include service, an adventurous journey, skills and physical recreation. There is an additional requirement of a residential project at the gold level.
Uplifting and inspiring
Guest speaker at the event, John Issa, chairman of the Duke of Edinburgh’s Award Jamaica’s Board of Trustees, said it was uplifting and inspiring to see young Jamaicans, who were good examples for the nation’s youth, being honoured.
He noted that awardees had been infused with sound values, which “gives us hope for the future of our beloved country”.
“I know that it’s a great burden to place on the shoulders of these fine girls and boys. However, if they can influence their schoolmates for the better, and then those who they influence do the same, there will be hope that the next generation of Jamaicans will do better than the last,” Issa said, urging the youngsters to make sure the values they learnt didn’t stop with them.
The board chairman further pointed out that though the awards programme could not fix all of the country’s social problems, it could contribute greatly to the solution.
He noted that despite Jamaica’s economy being a serious problem, the social ills were far more damaging to the quality of life of citizens and were more difficult to solve.
“Therefore, any economic recovery programme which does not have, as an essential component, a recovery programme to deal with anti-social behaviour and illiteracy, among other social ills, will not improve the quality of life in our country in the long run,” said Issa.
He lauded the 255 volunteers, whom he described as “heroes … quietly working to make Jamaica a better place”, who guide the 2,325 young people currently registered in the Duke of Edinburgh’s Awards Jamaica.
Continue to support
Issa also thanked the Government for its ongoing support in schools and institutions and asked that the support continue to grow.
Parliamentary Secretary in the Ministry of Youth, Sports and Culture, Senator Warren Newby, said the awardees represented the better part of the cohort of Jamaican youth.
He said that although focus was often placed on youngsters who are unattached and engaged in anti-social behaviour, the majority of young people were producing, attached and focused.
He encouraged the awardees to go back to their communities and provide their peers with guidance and urged them to continue to serve their country well.
The awards programme, started in 1956 by His Royal Highness, the Duke of Edinburgh, German educator, Dr Kurt Hahn and leader of the first team to successfully climb Mount Everest, Lord John Hunt, exists in more than 100 countries. It has been operating in Jamaica since 1961. (Jamaica Gleaner)
