12 Jan
2020

Private Sector to be affected – GO-Invest Chairperson

first_imgBrexit falloutWhile the United Kingdom’s exit from the European Union (EU) is said to have dire consequences for the Caribbean, what is more significant is the effect the move will also have on businesses.GO-Invest Chairperson Patricia BacchusChairperson of the Guyana Office for Investment (GO-Invest), Patricia Bacchus said the implications of Brexit for the Private Sector in Guyana and the Caribbean were many. She was among a group of speakers at a discussion organised by the Vice Chancellor of the University of Guyana, Dr Ivelaw Griffith recently.According to Bacchus, Britain remains a key market for many of the Region’s products and services even though there has been some general decline over the years. In 2008, she said, Caricom exports to the United Kingdom stood at some US$839 million. However, six years later, in 2014, it stood at US$495 million, a 30 to 35 per cent decline. That, she said, represents about two per cent of Caricom exports.In Guyana, based on information gathered, it was shown that for the first four months of the year, exports to the United Kingdom were somewhere around US$31 million or $6.5 billion. Bacchus said if the same momentum was maintained, there would be an anticipated $20 billion per annum in exported services and goods to the UK. For Guyana, it represents about seven per cent of total exports, which included commodities such as fuel and mining products; banana, sugar and rum; minerals, particularly gold, and fertilisers.Speaking about the direct implications, Bacchus said currency sensitivity and the exchange rate were set to affect businesses in the Region. “We all know that post Brexit votes there was a situation where the pound slide to a 31-year low. It has rebounded, but it is about 10 per cent below where it was trading against the US currency.”According to her, there are businesses and nations selling products and services in the UK market for which agreements are denominated in the pound currency. “That means now that the value that was being received by the seller is significantly reduced if they are being paid in pound sterling.”She said while there was some stabilisation going on right now, uncertainty would prevail and the currency sensitivity issue would also prevail.“So businesses and nations that are exposed to the currency fluctuation are going to be tasked with examining what it means to them. There will have to be some renegotiations with the UK or even seek out other markets,” she told the audience at Duke Lodge.Other implications Bacchus spoke about included access to the market on a free trade, free quota basis and operational exposure for businesses founded outside the UK that are operating within the country. She said because they have set up an office in the UK, they enjoy access to the UK market under a harmonised regulatory and tariff system with free cross border banking facilities and free movement of people and skills. The new situation will, however, pose some challenges.>>>>>>>>>>>>>>>>>>>>>Pic saved as BrexitCaption: GO- Invest Chairperson Patricia Bacchuslast_img read more

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11 Jan
2020

Police honor citizens willing to help

first_imgJanice said the guy even stopped, pulled a knife out of his jacket and waved it threateningly at them as they sat in their car watching him. Yeah, it was scary, but they’d do it again, Bianca said Thursday as she and her mom were honored by the command staff of the Los Angeles Police Department’s West Valley Division and City Councilman Dennis Zine. “I told Bianca, `It’s all right, baby. If he takes another step toward us with that knife, I’ll run him over’ – and I would have,” Janice said. The guy must have seen the look in her eyes because he put his knife away and tried to escape. Police arrested him a block away. All because Bianca and her mom didn’t look the other way. Bianca Rodriguez and her mom, Janice, didn’t have to get involved. They could have looked the other way and kept on walking when they saw a man slash through the roof of a convertible Mustang to steal a cell phone and some other items on the front seat. It wasn’t their car. Why take any chances? But they didn’t look the other way. Janice got on her cell to call 911, and while she and Bianca waited for police to respond, they followed the man as, trying to break in, he smashed a window of another car. “Most people who see something like this close their eyes and walk away, never thinking that they could be the next victim of this guy,” Zine said. “They got involved. They didn’t back away. And for that, we thank them.” Last year in the San Fernando Valley, there were 12,000 reported motor-vehicle break-ins. In the past month alone, there were 237 more, says West Valley Division Capt. John Sherman. “It’s the most prolific crime problem we have in the Valley, and it’s on the rise,” he said. Too many people leave valuables in plain sight in their cars and forget to lock their doors or set their alarms, he added. “We need more citizens to help us catch these car burglars. We don’t want anyone putting themselves in danger and trying to make an arrest, but we do want them to call with license plate numbers and descriptions.” Bianca and her mom did a lot more than that on Dec. 16 on Sherman Way in Reseda when they decided not to close their eyes and walk away. So did Carlos Cardova and Gayle Rymer, who were also honored Thursday. Gayle manages a condo complex in Encino, and Carlos is one of her maintenance men. A few weeks ago, Carlos was taking trash out to the bin when he saw a man walking from car to car in the parking area looking in windows. When Carlos asked him what he was doing, the guy ran to a nearby car, where two other men were waiting. Gayle called 911 and joined Carlos following them in his car. Gayle remained on her cell, giving police the location of the men, and they were arrested a few blocks away. Surveillance tape in the parking area viewed later showed the three men tampering with cars for about 20 minutes. “There’s no doubt that if we don’t become proactive, next time we could be the victim,” Gayle said. “It’ll be our car being broken into. “I’m proud of what Carlos and I did. There are three less guys breaking into cars today.” Dennis McCarthy’s column appears Tuesday, Thursday, Friday and Sunday. dennis.mccarthy@dailynews.com (818) 713-3749160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img
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