Category Archives: finance and trade

Venezuela: Illicit Trade Represents 21% of Venezuela’s GDP: Is This Our Post-Oil Future?

Venezuela – Click to enlarge

Tony Frangie Mawad | Caracas Chronicles

 After calculating the current annual worth of drug, gold and gasoline trafficking and port smuggling in Venezuela, a study by the local chapter of the anti-corruption nonprofit Transparency International — with estimates from Ecoanalítica, a Venezuelan economic consulting firm — concluded that these illegal economies made up 21.74% of Venezuela’s GDP last year.

“This means they are more powerful than any other economic sector right now, including oil,” says Mercedes De Freitas, Transparencia Venezuela’s executive director. “And we are talking only about the size of four of these economies, the most important ones. THERE ARE OTHER ILLICIT TRADES: Certain types of food smuggling, diesel smuggling, cooking gas trafficking, human trafficking or timber trafficking, which could be important in some regions.”       Continue reading

GUYANA: Building Expo 2022: Six international hotels with more than 1000 rooms on display

 …at least 3 more eyeing Guyana market

 Jul 23, 2022- Kaieteur News – In determining whether their investment in Guyana would be positive, six international hotels, some of which have commenced developmental work here, conducted a major market study that resulted in the entities wanting to develop around 1000 hotel rooms to cash in on the increase of business being conducted in the country.

This is according to Go-Invest Chief Executive Officer (CEO) Dr. Peter Ramsaroop who informed this newspaper that six international hotels would be on display for Building Expo which opened at the National Stadium yesterday. Ramsaroop said that each hotel is bringing a different value to the market, since they are presenting different types of rooms, “to potential tourists, business executives, technicians that are coming in for the support of the industry.” Continue reading

GUYANA: Four Points by Sheraton in Houston fits into expansion of economic zone – President Ali

– Says project strategically aligned to Govt’s development goals

His Excellency Dr Irfaan Ali said that Four Points by SheratonMarriott Bonvoy to be constructed at Houston, along the new Eccles to Mandela Road link, is just one component of the rapid economic zone set to change the landscape of the country.

He noted that the hotel, which is being developed by Caribbean Green Building Inc., would be a “natural spin-off” for development and key to the growth and progression of the area.

He stated that the area would have a private sector industrial/commercial development to support the oil and gas sector, which would be a part of a huge commercial zone, an upscale housing development, a medical and technological zone, and a service hub.        Continue reading

UK: Rishi Sunak steps up attack on Truss tax cuts as poll puts his rival – Liz Truss -well ahead

Former chancellor says opponent’s economic policies risk stoking inflation and pushing up interest rates

Rishi Sunak

Rishi Sunak

, and Thu 21 Jul 2022 20.23 BST – The GUARDIAN. UK

His attack came as a new poll of Tory party members gave Truss a commanding lead in the race to become prime minister.

Tax and spending has become the key battleground in the hard-fought contest, with Sunak insisting that cutting taxes immediately, as Truss has promised, would risk exacerbating the cost of living crisis.          Continue reading

VENEZUELA is hoping to resuscitate its PetroCaribe programme – By David Jessop

Venezuela- PetroCaribe programme. – By David Jessop

Against a background of surging global oil prices, the country’s gradual economic recovery, political change in Latin America, and a carefully crafted dialogue with the United States, Russia, China and Iran, Caracas is seeking to reposition itself as a swing energy state.

Responding to less-than-well-thought-through western sanctions following Russia’s invasion of Ukraine and their impact on the global prices of oil, gas, fertiliser, food, and transport, it knows that the gradual freeing of its enormous reserves of oil could make a difference to many nations.

Its actions suggest that if it can achieve an accommodation on sanctions with the US and European Union based on the west and others urgent need for new, lower cost sources of energy through geopolitical diplomacy, it will be able to relaunch its Caribbean and Central American concessional oil initiative.    Continue reading

USA: Opinion:  Why I’m going to Saudi Arabia – By Joe Biden | The Washington Post

US President Joe Biden

By Joe Biden | The Washington Post

Joe Biden is president of the United States.

Friday, I’ll travel to the Middle East to start a new and more promising chapter of America’s engagement there. This trip comes at a vital time for the region, and it will advance important American interests.

A more secure and integrated Middle East benefits Americans in many ways. Its waterways are essential to global trade and the supply chains we rely on. Its energy resources are vital for mitigating the impact on global supplies of Russia’s war in Ukraine. And a region that’s coming together through diplomacy and cooperation — rather than coming apart through conflict — is less likely to give rise to violent extremism that threatens our homeland or new wars that could place new burdens on U.S. military forces and their families.            Continue reading

GUYANA: Shocking bribery disclosures regarding Vice-President Bharrat Jagdeo +video

EDITORIAL – By Stabroek News – July 10, 2022

Vice President, Bharrat Jagdeo, and President Irfaan Ali

The most disquieting report we have carried in a very long time appeared in our edition of July 8. It was an account of the extended version of VICE News’s video documentary titled ‘Guyana For Sale’, the initial portion of which had been carried on June 18. This part had consisted largely of an interview with Vice President Bharrat Jagdeo and his tenant, Mr Su Zhirong, along with a VICE reporter posing as a Chinese businessman interested in a deal here. The meeting had been arranged, according to the documentary, in order to demonstrate to the supposed entrepreneur that Mr Su, a middleman, had “access at the highest level.”

In the clips of the interview which were shown Mr Jagdeo did not implicate himself directly in the ‘business deal’, and he later strenuously denied any implication that he was associated with corrupt practices. As for Mr Su’s specific allegations about him accepting bribes, he responded that his tenant had abused their friendship for his own gain and had lied about him, and if VICE News had been discerning, then they would have realised they were “being duped”.  Subsequently he announced he was bringing a defamation suit against Mr Su, who not surprisingly is no longer his tenant.        Continue reading

UK-BRITAIN: What Brexit Did to Boris Johnson — And Britain – Opinion

The prime minister’s fake populism led to his undoing—and will keep haunting his country. 

By Anne Applebaum | The Atlantic

Not too long ago, I heard one of the leading Brexiteers describe his political philosophy in a room full of CEOs and senior politicians. He started by talking to this elite group about the great division between “elites” and “the people”, the victors and the victims of globalization, the haves and the have-nots of modernity. The longer he spoke, the more his words began to seem rote, remote, and stale. The energizing slogans of the Brexit campaign of 2016 sounded hollow and clich​​éd in 2022. 

PARTLY, this is because the slogans were NOT true. Boris Johnson was the standout example of this phenomenon:             Continue reading

UK: THE UK GOVERNMENT JUST COLLAPSED!!! (SPECIAL REPORT!) – Video By Neil McCoy Ward

UK: THE UK GOVERNMENT JUST COLLAPSED!!! (SPECIAL REPORT!) – Video By Neil McCoy Ward

See comments on YouTube video here: https://www.youtube.com/watch?v=CG6Tno94Pbk

GUYANA: Quindon Bacchus Police Killing – Misleading report triggers violent protest across 15 East Coast villages

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