Daily Archives: February 5, 2020

Guyana: Gold Board’s exports in 2019 was US$112M – Port Kaituma office opens

Exports from the Guyana Gold Board last year totaled over US$112M with officials insisting that the industry is continuing to make its mark on the economy of Guyana.

Minister Raphael Trotman and others at the opening of the Port Kaituma branch

The statements were made on February 3, 2020 when the Gold Board opened an office in Port Kaituma, Region One, with the projections of growth.

It was disclosed that the move comes as a result of requests from small miners.          Continue reading

TRAVEL: Airlines will be hit hard by coronavirus

The history of past pandemics augurs badly for the travel industry

Feb 3rd 2020 – Graphic detail – The Economist

STOCK MARKETS IN China fell by nearly 8% on February 3rd—the largest single-day fall since 2015—as fears about the economic impact of the Wuhan coronavirus increased. Of the industries affected by the epidemic, perhaps none will be hit as hard as travel.

In recent weeks, hotel occupancy in China has fallen by 45% year-on-year, according to analysts at Citigroup, a bank. Shares in China’s three biggest airlines—Air China, China Eastern Airlines and China Southern Airlines—have fallen by more than 20% since the first person died from the new strain, known as 2019-nCoV, on January 9th. The death toll in China has risen to 361. And the first death from the strain has been reported abroad, in the Philippines.

Investors in Chinese aviation are right to be nervous. Some previous pandemics have caused huge drops in airline traffic.            Continue reading

China fights the coronavirus: Companies warn of economic crisis – Commentary

The government steps up support, not to boost growth but to ensure social stability

RARELY HAVE plans in China fallen apart so swiftly, so publicly. On January 12th the leaders of Hubei declared that the province’s GDP would grow by 7.5% this year. They also vowed to make the province a stronger link in high-tech supply chains. They made no mention of a mysterious new virus that was causing pneumonia and spreading fast through the cities and towns under their watch.

But less than two weeks later its scale was too big to ignore. Under intense pressure to act, they placed the entire province under quarantine, hemming in 60m people and rendering their flashy economic targets almost certainly unreachable this year. Their focus instead shifted to stopping the illness and keeping people supplied with necessities.        Continue reading

OIL: Suriname poised to bag hundreds of US$millions in signing bonuses

… capitalises on Guyana’s oil and gas discoveries

The State-owned oil company and regulator of Suriname’s oil industry, Staatsolie, is set to reap vast benefits when it starts selling stakes in a large area of its shallow waters, by year end.

Staatsolie Managing Director & CEO, Rudolf Elias

The value of those waters to oil and gas companies around the world has been buttressed by ExxonMobil’s discoveries in Guyana’s Stabroek Block.

Continue reading

Caribbean 2020: Voters Tough Choices in Elections in Six Countries

Click to Enlarge

VOTERS TOUGH CHOICES

Six key Caribbean Community nations will hold general elections this year and in at least three of them, the economy and racial tensions will be key campaign issues. Also in the same three — Guyana, Suriname and Trinidad — the incumbents face tough reelection battles from upstart opposition parties or groups. Voting along ethnic lines has traditionally been a key factor in these three and could determine outcomes.

Guyana which just weeks ago became one of the world’s newest crude oil exporters, will most likely go to the polls first among the seven with the March 2 date set by incumbent President David Granger since last year. Parliament has already been dissolved.          Continue reading

%d bloggers like this: