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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19 Nov
2019

French Open: Agnieszka Radwanska, Elina Svitolina reach third round

first_imgUkraine tennis player Elina Svitolina and ninth seed Agnieszka Radwanska rallied past their opponents in the second round of the French Open here on Thursday.Svitolina, placed sixth on the WTA world rankings, finished a total of 32 winners, while suffering 28 unforced errors and five double faults, reports Xinhua news agency.After losing 3-6 in the first set, the titleholder in Rome turned around at 6-3, 6-2 against Tsvetana Pironkova while Radwanska defeated Alison Van Uytvanck 6-7 (3), 6-2, 6-3 in two hours and 22 minutes.Svitolina will face Magda Linette of Poland in the third round and Radwanska will play local favourite Alize Cornet.Commenting on Pironkova’s performance, Svitolina said: “She was playing really very good. I was just waiting for my chances to be back, because I didn’t play that bad in the first set, but she was playing amazing from the start.””The second and third set was not easy, but I was ready with my game at the important moments when I needed, and it worked really good.”I will just take it easy and be ready for next match, next opponent, and there’s going to be a tough one, but I’m going to be ready for it,” she added.last_img read more

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16 Nov
2019

Eoin Morgan defends Trevor Bayliss before one-day series against Australia

first_imgEngland cricket team England seek ODI redemption against Australia after one-sided Ashes Ashes 2017-18 Though fortunes in the longest form have stuttered during Bayliss’s tenure, despite 2015’s Ashes success and a series victory in South Africa, the 55-year-old has rejuvenated England in limited-overs cricket. Appearances in the World T20 final in 2016 and the ICC Champions Trophy semi-finals in 2017, while ultimately disappointing, have been steps in the right direction.This week the vice-captain, Jos Buttler, praised Bayliss for liberating England. Now the captain has echoed those sentiments: “He has been brilliant for us,” Morgan said. “As a coach the one attribute he has is the ability to take the pressure away from any player at a time when you need it and that has helped me massively.”The five-match series presents England with a chance to test the limits of their carefree approach against the world champions before next year’s home World Cup. Australia may go into the opener at the MCG as favourites but Morgan has vowed to stick to the approach Bayliss has cultivated. “We are going with the mantra that we always need to be on top of our game and testing the opposition the whole time. We have done that a bit with the bat, we will try and continue taking wickets with the ball. This time next year we need to be in a good enough space to be contenders for the World Cup. To be in that space you need to be setting or bucking trends or being able to adapt. We are very open-minded with the way we are going. Also the best way to address it is to be on the front foot.”One luxury afforded to Morgan is clarity on Ben Stokes. The all-rounder will play no part in the ODIs as he waits to hear whether he faces any charges for the incident in a Bristol street in the early hours of 25 September. So far he has missed two ODIs against West Indies and the five Ashes Tests. He has been named in the T20 squad for the tri-series with Australia and New Zealand, as well as the Test series against the latter which takes place in March.“Ben is a fantastic player,” said Morgan. “We will miss him but we know he is not going to be part of this series so we can address the balance of this side. It gives clarity to everybody in the team. It creates a lot more calm around the periphery.”Meanwhile, Morgan confirmed that a decision on Alex Hales’s return will be made on the morning of the first ODI in Melbourne. While cleared of any wrongdoing by police for his part in the Bristol incident, his suspension allowed Jason Roy to return as opener in England’s XI against West Indies. Roy took his chance, hitting 84 and 96 alongside Jonny Bairstow. An internal ECB disciplinary hearing will not take place until Stokes’s legal case has concluded, which has allowed Hales to return to international duty. Share on Twitter Reuse this content Share on Pinterest Topics Share on Facebook Share on WhatsApp news Since you’re here… Eoin Morgan has defended his head coach, Trevor Bayliss, before England’s ODI series against Australia. After a humbling 4-0 defeat in the Tests to relinquish the Ashes, Bayliss has come under fire for the manner in which England were unable to land a telling blow on the hosts.Since Bayliss took over in May 2015, England have won only 15 of his 38 Tests in charge (along with 18 losses and five draws). While calls for his position to be reviewed were met with resistance by the ECB chairman, Colin Graves, and the chief executive, Tom Harrison, Bayliss revealed he will not be seeking a new deal when his contract expires at the end of the 2019 summer.Bayliss’s announcement caught some off guard but Morgan responded in typically bolshy fashion when asked if he was one of them. “TB has been brilliant,” England’s limited-overs captain said. “I don’t know why this is news. He signed a contract until 2019 and has always said the same thing.” Support The Guardian Cricket Eoin Morgan … we have a small favour to ask. More people, like you, are reading and supporting the Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we made the choice to keep our reporting open for all, regardless of where they live or what they can afford to pay.The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We hope you will consider supporting us today. We need your support to keep delivering quality journalism that’s open and independent. Every reader contribution, however big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Read more Share on LinkedIn Australia sport Trevor Bayliss Share on Messenger Share via Emaillast_img read more

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