Govt says GMSA exchange rate statement “inaccurate”

first_img… BoG contends rate quoted is not uniform transaction rateGovernment on Wednesday reacted to the statement released by the Guyana Manufacturing and Services Association (GMSA) on Wednesday which suggested that there has been a significant fall in Guyana’s local currency.While Minister of State Joseph Harmon said the statement was far from reality, the Bank of Guyana (BoG) noted that the release will do nothing more than add fuel to the rising “speculative and destabilising activities in the foreign exchange market”, all of which, it said, could be harmful to the economy.Bank of Guyana Governor, Dr Gobind Ganga“The statement by the GMSA is inaccurate, since the $230 to $1 represent a very small representation of the financial market and had to do with the operation of debit and credit cards”. Harmon explained that the bulk of the financial market still has a weighted average of $215 to $1. “That is to say that the buying rate is $216 and the selling rate is $214,” Harmon told media operatives on Thursday.But his pronouncement was before the Bank of Guyana Governor, Dr Gobind Ganga sent out an official release condemning the GMSA statement.According to the BoG, the rate quoted by GMSA is not a uniform transaction rate; rather, it is the online rate charged by one of the largest commercial banks in Guyana for its credit and debit card transactions, which represents a very small share of the cambio market transactions.It reported that for the week ending March 14-17, 2017, the weighted average buying rate was G$214 while the weighted average selling rate was G$218. The turnover for the week, it said was US$40.0 million.The bank said total purchases and sales at the bank cambios were US$19.6 million and US$20.4 million respectively.“The aggregate working balance at the bank cambios was US$13.7 million at the end of business on the 17th March, 2017. One bank accounted for 32.8 per cent or US$4.5 million of the total working balance,” the BoG said in a statement.Further, the bank stated that demand at the end of the week was some US$8.0 million, with two banks accounting for the bulk of that demand. With this in mind, the BoG advised businesses against depending solely on one bank, but to rather pursue other banks to meet their demands for foreign currency at a competitive rate.Meanwhile, the BoG also reported that there has been hoarding of foreign currency by exporters, as evidenced by the large foreign currency balances that are being held in their exporters’ retention accounts. It said instead of using these balances to complete their transactions, they have been sourcing foreign currency in the market.“This has added further pressure on the demand for foreign currency and reduced the supply to the market. Both of these factors have contributed to the instability and depreciation of the rate,” the bank stated.The bank reiterated that there is sufficient foreign currency in the market to meet legitimate demand, continuing that the patience and cooperation of stakeholders are needed, to ensure that there is no undue speculation and further deterioration in the rate.The GMSA in a public statement on Wednesday estimated that the real exchange rate when available being used for the purchase of foreign exchange is $230 for the replacement of imported inputs into the sectors. It said it considered the issues affecting the manufacturing sector, including the reported deteriorating rate of the Guyana dollar and dire impacts it will have on business and employment.As a result, the GMSA is encouraging all of the sectors to implement cost cutting exercises and have noted that some entities have started to rationalise employment.The GMSA has also called on Finance Minister Winston Jordan to urgently hold Broad consultations on the matter and warned that failure to arrest the situation will result in devastating consequences.last_img read more

Police called to Balotelli Ferrari dispute

first_img0Shares0000LIVERPOOL, October 24- Liverpool striker Mario Balotelli is being investigated by Greater Manchester Police for ‘threatening’ a woman who took photographs of his red Ferrari F12 Berlinetta.Police were called to a housing estate at 3pm on Thursday in the Wythenshawe area of Manchester, where the 24-year-old was reportedly visiting his mum Rose Barwuah. GMP are investigating Balotelli’s use of ‘threatening behaviour’ after the forward demanded the woman stop taking photographs of the £240,000 car he shipped from Italy during the summer.It is understood a woman claimed that Balotelli moved towards her daughter, who was taking a photograph of the red sports car.A spokesman for GMP said: ‘We are investigating a report of threatening behaviour following an incident in Wythenshawe. Officers will be speaking to all concerned in due course.’Liverpool Football Club said they would not be commenting until all the facts had been established.It comes the day after Balotelli was caught swapping shirts with Real Madrid defender Pepe at half time during Liverpool’s 3-0 defeat in the Champions League at Anfield. Liverpool manager Brendan Rodgers admitted he would ‘deal with’ the controversial £16million signing from AC Milan, who was substituted during the interval.Rodgers reminded the former Manchester City player that receiving souvenirs at half-time is not part of the ‘club culture’ at Anfield.“I had a similar incident last year and it was dealt with internally,” said Rodgers. “It’s exactly the same. I heard about it when I came off pitch. If you want to do that, it’s something you do at end of the game and something I will deal with.”-Daily Mail 0Shares0000(Visited 1 times, 1 visits today)last_img read more

Reports – Chelsea goal machine open to Spain return

first_img1 Chelsea striker Diego Costa Chelsea striker Diego Costa is thought to be open to a move back to Atletico Madrid, according to reports in Spain.Spanish newspaper Marca are claiming that Costa is suffering from homesickness and has made contact with his old club to discuss a possible return.The report goes on to suggest the 26-year-old is unhappy with life off the field in London, despite hitting 20 goals for the Blues as they clinched their first Premier League title for five years.Atleti boss Diego Simeone is thought to be keen on the prospect of reuniting with Costa but a move this summer remains unlikely.last_img read more

Listen: Martin Regan reacts as Naomh Conaill see off Killybegs

first_imgMartin Regan says his Naomh Conaill outfit will need to prolong their ferocious tempo in future games following their opening win against Killybegs on Saturday in the Donegal Championship.Naomh Conaill were favourites to win before the fixture but Killybegs, who recently clinched promotion to Division One, proved to be no pushovers.However, following a slow start, Naomh Conaill took control and ran out winners with a score of 1-15 to 1-09. Following the game, Regan spoke to Charlie Collins.Listen to the full interview below…Listen: Martin Regan reacts as Naomh Conaill see off Killybegs was last modified: September 8th, 2019 by Staff WriterShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Bruce mocked on return to Villa Park with Newcastle as Aston Villa claim vital win

first_imgAston Villa made it a miserable return to the Midlands for Steve Bruce as they comfortably beat his Newcastle United side 2-0 on Monday night.Bruce, who was sacked by the Villans 14 months ago, is still yet to win the Magpies’ supporters over after succeeding Rafael Benitez in the summer. Getty Images – Getty 4 Check out all the live commentaries coming up across the talkSPORT network this week Reading vs Leeds (Tuesday, 7:45pm) – talkSPORT 2Valencia vs Chelsea (Wednesday, 5:55pm) – talkSPORT 2West Brom vs Bristol City (Wednesday, 7:45pm) – talkSPORT 2Astana vs Manchester United (Thursday, 3:50pm) – talkSPORT 2Braga vs Wolves (Thursday, 5:55pm) – talkSPORT 2Swansea vs Fulham (Friday, 7:45pm) – talkSPORT 2Newcastle vs Manchester City (Saturday, 12:30pm) – talkSPORTCharlton vs Sheffield Wednesday (Saturday, 12:30pm) – talkSPORT 2Tottenham vs Bournemouth (Saturday, 3pm) – talkSPORT 2Southampton vs Watford (Saturday, 5:30pm) – talkSPORT Goalkeeper Tom Heaton was also back between the posts after missing the 2-1 defeat at Wolves last time out with his own calf problem.Defender Matt Targett, substituted just after half-time at Molineux with concussion, bolstered the defence for the visit of former Villa boss Steve Bruce’s side.In the 20th minute, just as he prepared to take a throw-in for Villa down the left wing opposite Newcastle’s 18-yard box, Targett vomited on the pitch.Following his release of the ball, the left winger then threw up violently on the touchline, falling to his knees in doing so. Hourihane’s piercing low ball into the heart of the six-yard box caught United’s defence napping as they failed to pick up Anwar El Ghazi who had the simple task of stabbing home from a couple of yards out.It immediately prompted cries from the Villa fans of ‘Brucey, Brucey what’s the score?’ as they taunted their former manager, who was sacked nearly 14 months ago. Steve Bruce could not get the better of his successor, Dean Smith AFP or licensors Grelaish was influential upon his return to the Villa side 4center_img Getty Images – Getty After treatment and a drink of water, the summer signing from Southampton was able to continue. In the 32nd minute Villa superbly took the lead with a free-kick special from Conor Hourihane.After Grealish had been shoved in the back by DeAndre Yedlin a yard outside the area, it left the Republic of Ireland international in perfect range to strike.Hourihane initially touched the ball for Grealish to stop a yard away, allowing the midfielder to curl the ball around the wall and beyond poorly-positioned goalkeeper Martin Dubravka.Four minutes later Villa doubled the lead, again after Grealish had drawn a foul, this time to the left of the penalty area from Federico Fernandez, although it appeared as if the midfielder had gone looking for the challenge. Anwar El Ghazi was also a standout performer for the hosts at Villa Park Getty Images – Getty Conor Hourihane gave Villa the lead on Monday night 4 And if his side continue to perform as they did at Villa Park on Monday night, the former Sunderland boss will continue to see his popularity tumble on the Toon.For Villa, the three points conveniently coincided with captain Jack Grealish’s return to the side and moves them above West Ham United and Everton in the Premier League table.With games against Manchester United and Chelsea to follow, boss Dean Smith will be all too aware of how crucial these points are to their season. 4 LIVE on talkSPORTlast_img read more

Dundee Utd chairman abroad to hold talks with potential investors

first_imgUnited’s figures also point out a “significant future funding requirement” would be needed within the next year if the club were to continue trading once dropping down to the Championship and with this in mind, Thompson will hold discussions in the coming days.Earlier this month Thompson’s sister and fellow director Justine Mitchell shocked the club by resigning from the board in the wake of the Scotish Cup semi-final defeat to Hibernian.In February, Thompson apologised to supporters and admitted the United board had made crucial mistakes in the last 18 months that have been instrumental in the team’s sharp decline. Dundee United chairman Stephen Thompson has travelled abroad to hold talks with potential investors in the Tannadice side, STV understands.The United chief has come for criticism from fans over his running of the club with the chairman of fans’ group the ArabTRUST telling STV change was required on and off the field.Thompson watched on from the stands as bottom club United lost out 3-1 to Hamilton on Sunday, a result which leaves them eight points off Kilmarnock with just 12 to play for. Disgruntled supporters held a protest outside the ground in the wake of the defeat with chants for Thompson to leave the club.Annual accounts, released last week, showed United’s wage to turnover ratio has increased and player sales are required going forward to sustain operating losses, which this year came to £799,000. last_img read more

#SHRM14: Moving Into The Warming Light

first_imgFailure is an enabler.In both senses of the term, but for some, the one ultimate driver.It’s our confidant and our kryptonite; it elevates and cripples us. Ideas fail, businesses fail, processes fail, people fail, and through it all, if we’re paying attention, learning and even a little lucky, we might just find a little light.Okay, some more than others, but then again, I’ve been in the HR technology space for over 15 years and I’ve viewed some established industry journalists, HR and recruiting practitioners and business leaders as not worth the words they spew out nearly every day.It’s that little light that warms us to something new, something pleasurable that we enjoy doing and providing that creates value for those around us, and ourselves, because regardless of popular belief about bloggers and social media “rock stars” not worth the words they spew out every week, some nearly ever day – they are worth it.And that included me at times. (Heck, if you don’t already know me, I’m all about transparency and authenticity, in good times as well as bad.)When American journalist, columnist and author Tom Friedman spoke at the 2014 SHRM Conference this week, he said something that really stuck with me:“No one cares what you know. They only care about what you do with what you know.”Makes sense. We’ve seen the rock slide of skills and jobs bury themselves at the bottom of a dark canyon, never to see the light of day again. Consider that many of us “world of work” bloggers have been through many incarnations, some practitioners, some marketers, some from completely different industries, we could foresee a time that, beyond connecting professionally on LinkedIn, all that silly Tweeting and Facebooking and Instagramming and Pinteresting and blog-blog-blogging and speak-speak-speaking, all this would bring a valuable, warming light; that being hyperactively connected to one another and the world would spawn opportunity that had never existed.“They only care about what you do with what you know.”Because as Mr. Friedman also told us in his keynote, average is officially over. In fact, he admitted he has 70 million competitors these days, with bloggers and writers online with all the tools and reach that only old school media and journalism used to have.No pressure, right? We have to constantly be “innovation-ready” or we’ll slide into shadow canyons.This theme resonated throughout the SHRM conference, from keynotes to sessions to parties to sidebars that took place in every nook and cranny of the convention center. When I saw Margaret Morford speak, CEO for The HR Edge, Inc., she hammered home that you’ve got to differentiate while ignoring the status quo hype; that you’ve got to be brave and “outrun the pack.”Or they’ll run over you.Imagine that you have billions of competitors, regardless of your status or profession, because that’s where it’s headed (if not already there). If we don’t continuously relearn and reimagine while being relentless in failure enablement, we’re doomed. Simply and utterly doomed.That’s why four years ago Meghan M. Biro and I launched the TalentCulture #TChat Community and Shows, because the “world of work” needs constant upending and tending to, it needs to hear from all sorts of voices, from an ever-growing online community of knowledge-thirsty professionals including business leaders and innovators, human resource and recruiting executives, organizational development and learning professionals, HR technology vendors, industry consultants, job seekers and hey, even bloggers – all of whom are our daily competition and enablers.So there you go, we’re just a couple of those bloggers, one a recruiting practitioner and one an HR tech marketer, moving into the warming light one weekly world of work topic at a time.To all the other HR bloggers out there, whether you made it to SHRM this year or not, whether you have a current job, consultancy and/or side gig (or not), we thank you. And a special thank you to SHRM as well!P.S. – And thank you Dwane Lay for organizing another fantastic fundraising event for No Kid Hungry that included a Big Lebowski bowling extravaganza! We raised over $5,000 dollars, which will help provide over 50,000 meals. Right on. And if you haven’t donated yet, you still can by clicking here.To read the original article, please click here.last_img read more

Cloud Computing: Offshore Services Pressured by the Cloud

first_imgPublic Cloud services are expected to increase 18 percent in 2013 to $131 billion and to then grow to $180+ billion by 2015 predicts Gartner.Cloud services are expected to pressure traditional offshore service providers.  Gartner suggests that service providers that can’t evolve their way of doing business are at risk of being displaced.  Offshore providers have seen their growth rates shrink over the past few years, and the trend is expected to increase.Ian Marriott, research vice president at Gartner, said that “the initial resistance to public cloud has begun to subside and customers are beginning to realize its efficiencies as the solutions mature.  Cloud-based services will not replace offshore services, but will complement them.  In addition, cloud services will not ‘make or break’ all offshore providers. There will always be a need for “pure-play” providers that operate a labor-intensive delivery approach. But, for broad-based offshore providers that operate in multiple geographies, industries and service lines, and who seek to compete for significant ‘wallet share’ in major accounts, strategic investments in cloud-based services are mandatory.”last_img read more

King’s Head to Be Returned to Ghana

first_imgThe head of a Ghanaian king, preserved in formaldehyde in an academic collection in the Netherlands, will be returned to Ghana for burial, Dutch science minister Ronald Plasterk announced after a cabinet meeting today. The head of King Badu Bonsu II, who was killed by the Dutch some 170 years ago, was discovered by novelist Arthur Japin in the collection of Leiden University Medical Center last year. Ghanaian officials had requested its return. The Associated Press reports: Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)The Dutch established trading and slave posts in Ghana in the late 1500s, and remained involved in the country — then known in Europe as the Gold Coast — until late in the 19th century. According to Japin, the head was taken by Maj. Gen. Jan Verveer in retaliation for Bonsu’s killing of two Dutch emissaries, whose heads were then displayed as trophies. It was not clear exactly when Bonsu was killed. Verveer was recruiting soldiers and slaves in Ashanti to serve in the East Indies in the late 1830s. The head was apparently brought to Leiden around that time at the request of a researcher who studied skull shapes. Plasterk said the decision to repatriate the head was not difficult as the head no longer served any scientific or cultural purpose.last_img read more