Suriname

Apache considering floating LNG site near oil discovery

Mitchell Ferman, Bloomberg August 15, 2023

(Bloomberg) – Apache Corp., confident in its oil discovery with TotalEnergies SE off Suriname’s coast, is pursuing further discussions for a floating liquefied natural gas (LNG) site in cooperation with neighboring Guyana, an Apache executive told analysts and investors.

Natural gas is a byproduct of oil production that companies handle in a variety of ways. Apache Vice President Gary Clark told the Enercom conference in Denver, that Apache plans in the medium term to reinject the sub- surface gas. In the long term, Apache could seek to export it through an LNG terminal.

Output from Guyana, the world’s fastest-growing economy thanks to massive offshore oil reserves found by ExxonMobil Corp., is surpassing expectations and should produce more than 1 MMbpd by 2027.

In Suriname, no oil has been produced yet, but Apache executives are pausing drilling for the remainder of 2023 to appraise the company’s recent work at an area that could have more oil than previously thought.

 

 

 

Suriname partners assessing oil production hub

Aug. 3, 2023, Offshore staff

In Block 53 (APA 45% WI), the first exploration discovery at the Baja well in was announced in August 2022.In Block 53 (APA 45% WI), the first exploration discovery at the Baja well in was announced in August 2022.

HOUSTON — TotalEnergies and partner APA are focused on completing the Krabdagu appraisal program and scoping an oil hub project in Block 58 offshore Suriname, APA reported in its latest results statement.

The planned development would take in Krabdagu and the Sapakara discovery.

APA has reduced its full-year upstream capital investment guidance for 2023 to $1.9 billion, reflecting deferred platform drilling activity in the UK central North Sea and other cost management efforts.

08.03.2023

 

 

Massy profit rises 20%

2023,   08/12

Massy Holdings reported group profit after tax from continuing operations of $514.41 million for the nine-month period ended June 30, 2023, a 20 per cent increase over $427.78 million the publicly listed T&T company reported for the same period in 2022.

For the period October 1, 2022, to June 30, 2023, the group reported revenue of $10.39 billion, which was 12.5 per cent more than the $9.20 billion it reported for the same period in 2022.

The company, which is listed on the T&T and Jamaica stock exchanges, noted that its revenue growth was propelled by 19 per cent increase in revenue from the Integrated Retail Portfolio (IRP). This portfolio is benefiting from its acquisition of Rowe’s IGA supermarkets in Florida in December 2022.

In highlighting its unaudited consolidated financial statements for the nine months ended June 30, 2023 Massy Holdings also noted that profit before tax from continuing operations grew by 18 per cent to $756 million.

However, the company said its “commendable financial performance” for the first three quarters of the financial year was overshadowed by the fatality which occurred in the Massy Energy Engineering Solutions (MEES) subsidiary.
Employee Allanlane Ramkissoon who was involved in an incident at NiQuan Energy Trinidad Ltd on June 15, 2023 died at a specialist facility in Colombia where he was being treated after suffering burns following an explosion at the plant.

“Investigations into the cause of the incident at the NiQuan plant are ongoing. Our group is committed to ensuring that lessons are learned to ensure safe working conditions for all our employees and stakeholders.”

In the statement accompanying the unaudited financials by Massy Holdings chairman, Robert Riley, the company said: “We continue to provide support to his family….Our Group is committed to ensuring that lessons are learned to ensure safe working conditions for all our employees and stakeholders.”

The company also noted that strong profit before tax growth from subsidiaries in the IRP of 19 per cent, motors and machines portfolio (MMP) of 14 per cent and the gas products portfolio of 11 per cent, were offset by reduced contributions from associates.

Profit before tax from CIG and Massy Wood associate companies were $8.6 million below prior year; and MMP took a full write-down on the value of its investment in the online used car platform, Curbo, of $14.8 million (US$2.2 million). After accounting for their associates, profit before tax from the motors and machines portfolio MMP and the gas products portfolio grew by 5 per cent and 6 per cent respectively.

“The rebalancing of the Divestment Funds Portfolio (DFP) and higher interest rates in the US facilitated significant improvements to the DFP and The Interregional Reinsurance Company Ltd (TIRCL) reinsurance business performance,” adding that for the first nine months of financial year 2023, the DFP produced a gain of US$3.5 million versus a loss of US$5.3 million in the same period in financial year 2022, a US$8.8 million swing.

Similarly, the company noted that the TIRCL profit before tax through Q3 2023 was US$2.2 million versus, a US$720K loss in the prior year, a US$2.9 million swing.

In his chairman’s statement, Riley said: “The Group is progressing its strategy in pursuit of its vision: A Global Force for Good-An Investment Holding Company with a Caribbean Heart. The group’s divestment programme is nearing the end, with significantly reduced contributions from discontinued operations. Proceeds from divestments are being leveraged for acquisitions in the group’s core portfolios. As the group expands globally, recent acquisitions contributed $60million (US$8.9million) to profit before tax through Q3 2023. The group’s conservative investment management strategy for the proceeds from its divestment programme is providing adequate returns while protecting the group’s cash.”

 

 

Jamaica

NCBFG profit down by 47%

2023, 08/11

The NCB Financial Group (NCBFG)–the Jamaican financial services company at the centre of a controversy in T&T— declared net profit of J$13.72 billion (US$88.85 million) for the nine months ended June 30, 2023. That is a decline of 47 per cent compared with the J$25.87 billion (US$168.66 million) reported for the same period in 2022.

NCBFG recorded net operating revenues of J$96.80 billion (US$626.67 million) for the period October 1, 2022 to June 30, 2023, which was a decline of 8.3 per cent, compared with the J$105.61 billion (US$688.37 million) the company generated for the prior-year period.

At a board meeting ,s directors decided not to pay an interim dividend, as “conserving capital is prudent to ensure the organisation is most resilient in a world of change.” Executive chairman, Michael Lee-Chin said he was “definitely not happy” that the group had not paid a dividend since May 2021.

Lee-Chin told an NCBFG investor forum the group is working assiduously “to make sure dividends resume by the end of this year.”

He said one of the ways the group intends to do this is by reducing expenditure through efficiency improvements. He said in the last two-and-a-half weeks, NCBFG had identified and enacted annual cost savings of between J$6B and J$8B (between US$39M and US$52 million).

For the nine-month period, NCBFG reported net revenues from insurance activities of J$11.92 billion (US$77.16 million), a 53 per cent decline compared with the J$25.47 billion (US$166 million) for the same period in 2022.

NCBFG’s principal insurance subsidiary is Guardian Holdings Ltd (GHL), the regional insurance company headquartered in Westmoorings, Trinidad.
For the six months ended June 30, 2023, GHL declared after-tax profit of TT$253.69 million, a 95 per cent increase over the profit for the same period in 2022.

On August 1, T&T’s Opposition Leader, Kamla Persad-Bissessar, raised the possibility that GHL could suffer the same fate as CLICO, which collapsed in January 2009.

“I wonder if you remember what happened when Clico failed. We had the massive failure of Clico and all of the insurance policies and investments people had made. We cannot sit idly by and let another Clico happen …”

Finance Minister, Colm Imbert, dismissed as “arrant nonsense” Persad-Bissessar’s claim of a possible collapse of GHL, which he said is in “excellent shape.”

 

 

HSF, GHL, NCB in good financial shape

Finance Minister Colm Imbert said the HSF is now in a better position than it was when the PNM came into power in 2015. He dismissed allegations by Opposition Leader Kamla Persad-Bissessar that the Heritage and Stabilisation Fund (HSF) may have deposits in NCB Jamaica, or any of its affiliates, because of a vested interest in Guardian Holdings (Guardian Group) as a “flight of fancy”,

The minister sought to debunk allegations that the HSF had lost close to US$1 billion. In June the HSF reported a loss of US$913.5 million for 2022 for the first time since its establishment in 2007. Persad-Bissessar immediately took the Government to task, calling it negligent and incompetent.

Imbert confirmed the loss then but said as of June 9 the HSF recorded a net asset value of US$5.466 billion (TT$37.17 billion). He added in June that the fund had generated almost US$600 million. 2022 was an extremely challenging year for market players and sovereign markets, given the volatile geopolitics, high inflation, rising interest rates and negative returns in stocks and bonds. Global shocks rattled markets around the world. The Dow fell almost 9 per cent, S&P fell by almost 20 per cent and UK stock funds lost about US$10 billion due to record high outflows from funds. Imbert said the HSF had grown by another US$300 million.

“I got some information on 31st of July and the net asset value of the HSF was US$5.6 billion, which is US$900 million (TT$6 billion) more than it was in 2022. It is more than it was when we came into office in 2015, it has not lost a penny between last year and this year and it has recovered all of its value.”

Imbert asked the Central Bank if the fund had any vested interest in NCB Jamaica, NCB Global Finance, Guardian Holdings, or any other affiliated company.

“Central Bank has indicated that the HSF does not have investments in either NCB, NCG NCB Merchant Bank or any NCB entity, whatsoever, or Guardian Holdings or any other company associated with Guardian Holdings. Not only does NGC have no investment in NCB or Guardian Holdings Ltd, but it is not allowed (to).I would think the Opposition Leader would know that.”

He addressed claims by the Opposition Leader against NCB on July 31, when she told a political meeting NCB was under financial distress and it would have had some connection with the financial health of Guardian Holdings of which NCB has a controlling interest. Imbert said NCB is not a TT bank.

“It is not regulated by the Central Bank of TT. The only NCB entity that operates in TT is NCB Merchant Bank, which is associated with less than one per cent of banking operations in TT. Therefore, it is impossible – even though Central Bank in consultation with other bodies in the Caribbean confirmed that NCB Merchant Bank is in good shape – it still could not possibly cause a systemic collapse in the financial sector in TT.”

Guardian Holdings earned $1.13 billion in profit after tax in 2022. In the first quarter of 2023, GHL earned $62 million in profit after tax and in the second quarter $253 million.

“So, for the first 6 months of this calendar year, Guardian Group made a profit after tax of over $300 million.”

Imbert petitioned the Central Bank, asking, should NCB be in financial trouble, would it affect TT’s economy because of its majority ownership of Guardian Holdings. The Central Bank said while Guardian Holdings is a subsidiary of NCB, they are separate legal entities. Guardian Holdings financial statements indicated a strong financial position.

“Most importantly all TT-regulated financial entities in the Guardian Holdings group which would include the insurance companies are ring-fenced with adequate capital. So, Guardian is in excellent shape.”

Central Bank said NCB simply has shares in Guardian Holdings.“In the event that NCB fails these shares can be sold without affecting the soundness and safety of the Guardian Group.”

Imbert responded to claims from Persad-Bissessar that Government plans to impose a 25 per cent inheritance tax on TT citizens. He said it has not happened and never will.

“As far back as June 14, I sent a press release making it crystal clear that this was ludicrous, fabricated, outrageous and that the leader of the Opposition was engaging in a flight of fantasy. There are taxation guides for countries around the world and in the inheritance tax guide for 2023, TT is not in there. There will never be an inheritance tax in TT under this Government.”

Guardian Holdings CEO Ian Chinapoo in an internal letter to staff assured the company is strong, well governed and with assured benefits being accrued for policyholders.

Persad-Bissessar queried eight financing transactions in 2020 valued at almost TT$3 billion for state entities won by NCB Global which was then led by Angus Young, brother of Energy Minister Stuart Young . She questioned whether the connections between the companies could risk a collapse similar to that at Clico (CL Financial group) which received a multi-billion-dollar bailout from the Manning administration in 2009.

NCB GROUP OF COMPANIES

National Commercial Bank Jamaica Limited

NCBJ which provides an array of products & services to meet the banking needs of customers: deposit accounts, unsecured and secured loans, credit cards, overdraft lines, foreign exchange, personal, and private banking services are part of the offerings.

In Jamaica, our network remains unmatched with 32 branch locations, over 300 ABMs and Kiosks and over 8,000 merchant locations. Online banking is available at www.jncb.com, along with telephone banking and our 24/7 Customer Care Centre at 888-NCB-FIRST (622-3477).

NCB Capital Markets Limited is the wealth and asset management arm of the NCB Group, offering investment and brokerage solutions for individual and corporate clients and investment banking solutions to our corporate clients.

NCB Insurance Agency & Fund Managers Limited (formerly NCB Insurance Company Limited) In October 2020, NCB Insurance Company Limited (“NCBIC”) transitioned to its new business as a corporate insurance agent under a new company name – NCB Insurance Agency & Fund Managers Limited (“NCBIA”) – when it transferred its insurance and annuities business to affiliated company Guardian Life Limited (“GLL”). NCBIA continues to offer NCBIA world class pension fund administration and investment management services for retirement schemes and superannuation funds. As an insurance agent, NCBIA exclusively sells the life insurance products of GLL, which includes products originally owned by NCBIC.

NCB (Cayman) Limited is the offshore banking subsidiary of the NCB Group and provides banking and trust services.

Clarien Group Limited owner of Clarien Bank Limited based in Bermuda, provides financial solutions in personal, commercial and private banking, investment & wealth management and trust services. Clarien Bank offers online services at www.clarienbank.com.

Guardian Holdings Limited (GHL) is the parent of integrated financial services group Guardian Group, with a focus on life, health, property and casualty insurance, pensions and asset management. The company has grown steadily and serves 21 English and Dutch Caribbean markets, in Trinidad & Tobago, Barbados, Jamaica, Curacao, Aruba, St. Maarten and Bonaire.

NCB Merchant Bank (Trinidad and Tobago) Limited (formerly NCB Global Finance Limited) provides merchant banking services including deposits, origination of loans and leases and provision of foreign exchange and trustee services.

NCB UK Representative Office & NCB Financial Services UK Limited NCB UK Representative Office (the only arm of the Retail Banking business that is based outside Jamaica) & NCB Financial Services UK Limited focus on the remittance of pensions and provide general support to NCB customers who reside in the United Kingdom.

N.C.B. Foundation is the bank’s philanthropic arm, fulfilling our commitment as a leading socially responsible corporate citizen, actively building the communities in which it serves.

 

 

Trinidad & Tobago

Phoenix Park to start with PRC investors

The Embassy of China held a reception on August 8 to celebrate the 10th anniversary of the inception of the Belt and Road initiative and the 5th anniversary of China-TT BRI co-operation. Ambassador Fang Qiu delivers remarks and Foreign and Caricom Affairs Minister Dr Amery Browne brought greetings.

The Belt and Road Initiative (BRI) began after President Xi Jinping proposed a Silk Road Economic Belt and the 21st-century Maritime Silk Road.

The PRC Ambassador and the Foreign Minister said the Phoenix Park Industrial Estate will be fully operational with more investors aboard.

Qiu said, “The Phoenix Park Industrial Estate, the first BRI flagship project in the Caribbean, has been completed and will soon be put into operation. Powered by the cutting-edge technologies of 5G, artificial intelligence, big data and internet of things (IoT) – a network of interrelated devices that connect and exchange data with other IoT devices and the cloud, which is an on-demand availability of computer system resources – this state-of-the-art industrial estate will host companies in the areas of light and advanced manufacturing, assembly, logistics and distribution and ICT industries and advance the realisation of the economic diversification strategy of TT.”

14 investments were finalised. China Summit Luggage, the first tenant of the estate, started production this month. Luggage has just come off its production line and was offered as a prize at the event. along with Huawei FreeBuds earphones.

“With more and more ambitious investors coming from China and other countries, we believe that the PPIE will be a new engine for the economic prosperity of this beautiful country.”

Browne said, “PPIE will specifically be a major boost for TT, with efforts towards diversification of our economy and sustainable development, placing a greater focus on non-traditional manufacturing, as well as bolstering the logistics and distribution hub for the rest of the region.”

Soon everyone will be carrying Samsonite – luggage made by the US-based manufacturer, headquartered in Hong Kong – with a “Made in TT” tag.

PPIE will serve as a model project, as it had been developed to be efficient and provide for similar initiatives in the region.

Qiu said, “In many cultures of the world, the phoenix symbolises the sun and unquenchable vigour. I firmly believe that, with concerted efforts generated by our partnership, the PPIE will arise to success and make remarkable contributions to the industrial transformation and upgrading of TT, as well as to our traditional friendship, just like the immortal bird, with its colourful and vibrant wings, flies to brilliance.”

The BRI reportedly upholds the principles of extensive consultation, joint contribution and shared benefits with a focus on policy co-ordination, connectivity of infrastructure, unimpeded trade, financial integration and closer people-to-people ties. BRI evolved from a vision into real action and received a warm response and support from the international community.

“The initiative is a global public good that practises true multilateralism, where everyone can discuss, build and share together. So far, a total of 152 countries and 32 international organisations have signed more than 200 co-operation documents with China under the framework of the initiative.”

China has held two Belt and Road forums for international co-operation, where over 20 co-operation platforms were launched in fields such as energy, ports, railways, green development and the digital economy. Later this year, the third Belt and Road Forum for International Co-operation will be held.

TT became the first Caribbean country to sign on to the BRI in 2018 and to exceed US$1 billion in trade with China in 2019. In 2022, the countries’ bilateral trade volume surpassed US$1.13 billion.

Qiu said local enterprises participated in the China International Import Expo for two years in a row and brought specialty products such as rum and chocolate to Chinese consumers.

“I’m happy to be informed that TT Fine Cocoa Company is co-operating with a chocolate producer in Hainan, China and tonnes of fine cocoa products will be exported to China soon. Now, the two countries are co-ordinating closely in the implementation of the Forensic Science Centre project to contribute to the social security of TT.”

Qiu said over the past five years, the China-TT BRI co-operation has led to an all-round development of practical co-operation between the two countries which can be seen through PPIE. The initiative also served as an incentive for closer people-to-people and cultural exchanges between China and TT.

Some examples of this were:

• the mutual assistance in the fight against covid19 through medical supplies, vaccines and PPEs;
• personally inaugurating Chinatown – a section of Charlotte Street, Port of Spain – which is the only one in the English-speaking Caribbean;
• and the Chinese New Year temple fair in February, which attracted over 3,000 people.

“The signing of the letter of intent on the twinning of Shanghai and Port of Spain marked a great leap forward in the friendly exchanges and co-operation between the two cities and by extension the two countries.

China has made continuous efforts to provide human resources training opportunities to the TT side. So far, nearly 500 participants from TT, including 63 this year, have attended various training programmes offered by China.

Our two sides have also carried out fruitful cooperation in the fields of agriculture, medicine and health, disaster prevention and mitigation and green development, which have further enhanced our traditional friendship.”

BRI generated nearly US$1 trillion in investments and formed more than 3,000 cooperation projects. PRC trade in goods with BRI countries doubled from US$1.04 trillion in 2013 to US$2.07 trillion in 2022, with an average annual growth rate of eight per cent.

Present were; Tania Diego Olite Ambassador of Cuba and dean of the diplomatic corps; other envoys; senators Laurel Lezama-Lee Sing and Laurence Hislop; heads of international organisations; Joel Martinez, mayor of Port of Spain; Cagney Casimire, mayor of Arima; Sekou Alleyne, president of InvesTT and Dr Annita Montoute, interim director of UWI Institute of International Relations.

 

 

Haiti

Aug 06, 2023 Sir Ronald Sanders

No one should celebrate the announcement by the U.S. government that Kenya agreed to lead a multinational police force to subdue gangs and improve security in Haiti.

This is rightly far from a done deal. The U.S. exerted a great deal of diplomatic effort in trying to persuade countries to lead a multinational force into Haiti – a principal request of its unelected Prime Minister, Dr. Ariel Henry.

Among countries that declined was Canada, which opted to provide direct support to Haitian forces. Nations are cautious about leading or even participating in such a force in Haiti,   because they recognize that, while the people want an end to the kidnappings, violence, rapes, and other atrocities associated with the gangs, a significant number are concerned about further foreign intervention in their country.

These nations know that the underlying reasons for Haiti’s condition are the economic actions by France which crippled the country’s economic prospects for over a century; a U.S. invasion and its economic consequences; maintaining by foreign governments of avaricious Haitian leaders and the general impoverishment of the country.

Haitian civil society groups have widely opposed the deployment of any foreign force, referencing bitter experiences with previous interventions and fears that intervening forces would be propping-up the present unelected regime which they regard as partially responsible for the country’s crises. Further, all governments are keenly aware that a multinational force in Haiti’s present circumstances would not be a traditional United Nations (U.N.) peacekeeping force. Henry has requested a force that will help the Haitian police confront and conquer the over 60 gangs that now dominate the safety and security space in Haiti, leading to potential bloodshed.

The Kenyan government said it is ready to deploy 1,000 police officers to train and assist Haiti’s police to restore normality and protect strategic installations. The form of assistance was not clarified and the government also made it clear that its “proposed deployment will crystallize” once it gets a mandate from the U.N. Security Council “and other Kenyan constitutional processes are undertaken”.

The Kenyan need for a U.N. Security mandate explains why the U.S., which is the Chair of the Security Council for  August, announced that it will propose a U.N. Security Council resolution authorizing Kenya to lead a multinational police into Haiti. Getting a Security Council mandate will not be easy. Already the U.S. has been unable to obtain endorsement of the work plan for its Chairmanship because of Russia’s objections primarily due to the inclusion of Ukraine.

While U.N. Secretary-General, António Guterres welcomed Kenya’s announcement, he described it as “a non-U.N. multinational operation in Haiti”. Where such a development places Kenya’s offer, is left to be seen, particularly as the government has publicly stated that it wants “a mandate from the U.N. Security Council”.

What is troubling about this development is that it is not awaiting the outcome of several initiatives seeking “a Haitian led solution”. Among these initiatives is the CARICOM Eminent Persons Group of three former Caribbean Prime Ministers, working to bridge division among stakeholders in Haiti and to arrive at an agreed plan to take the country forward.

Their work is not concluded, nor have they pronounced on whether their mission has any chance of success. Another initiative was the U.N. Security Council’s unanimous Resolution on July 14, 2023, asking the Secretary General to produce options to combat Haiti’s armed gangs. The time for the submission of the Secretary General’s report has not yet elapsed.

The U.S. Ambassador to the U.N., Linda Thomas-Greenfield, disclosed that the U.S. will be seeking Security Council endorsement for Kenya to lead a multinational force into Haiti, “This is not a traditional peacekeeping force, this is not a traditional security situation […] We have gangs that have overtaken the country, … that are terrorizing civilians every single day.” The situation is “unusual”.

What is being proposed is not a traditional U.N. peacekeeping force but a military exercise designed to eliminate heavily armed gangs created by elements of the political and business classes of Haiti, and which are now out of their control.

While no one would disagree with the U.S. that Haiti desperately needs stabilization, not everyone will be convinced that a foreign multinational force, especially one that is not fully endorsed by the U.N. Security Council, is the answer.

Equally concerning is that any intervention in Haiti should be at the expressed wish of the majority of stakeholders in Haiti, including political parties, civil rights groups, the business community, and the influential Haitian diaspora. Foreign intervention in Haiti is unlikely to secure the desired broad consensus among Haitians, unless the terms are agreed by them, including oversight, agreement on its purpose and the expiry of its stay.

Moreover, the essential question of who is in charge of the country while it endures these events still remains. Will it continue to be an unelected group, or a transitional government of representatives of political parties, civil society, the business community, and qualified Haitians in the diaspora?   Achieving a Haitian consensus on a multinational force and the terms and objectives of its operations should be the first effort on which energies should be exerted.

(The writer is Antigua and Barbuda’s Ambassador to the United States and the Organization of American States. He is also a Senior Fellow at the Institute of Commonwealth Studies at the University of London and Massey College in the University of Toronto. The views expressed are entirely his own.

Responses and previous commentaries: www.sirronaldsanders.com)

CARICOM says it welcomes the decision taken by the governments of The Bahamas and Jamaica to join Kenya, to contribute to a multi-national force to assist Haiti to counter its security challenges. It hopes that the establishment of the multi-national force will be given full endorsement by the U N Security Council, as a demonstration of the commitment of the international community to improve the security and humanitarian conditions and support restoration of law and order.

At their meeting in Trinidad and Tobago in July, CARICOM Heads of Government again underscored their grave concern over the severe humanitarian, security and governance crises facing Member State, Haiti.

However, homicides in the former paradise of Trinidad and Tobago approach 400 as criminal gangs escalate with drug-trafficking and bandits carry guns, cutlasses, knives as weapons for home invasion, robbery, burglary, rape and other atrocities.

The inaugural Caribbean Energies and Investment Summit, 31 October – 2 November 2023,  Barbados is organised in partnership with the Government of Barbados and under the patronage of the Ministry of Energy and Business. Co-hosted by BNOCL, NPC, Invest Barbados, and Export Barbados under the theme, ‘Sustainable Energy Paths for the Caribbean’. The summit looks to promote and facilitate energy security, reliability and affordability and deliver sustainable energy and investment paths for the Caribbean.

Foreign Office report reveals ‘grim’ human toll of UK’s overseas aid cuts.  Risk from reductions include as many as 3,000 child deaths in South Sudan from malnutrition, according to analysis

 

 

Guyana

Mangroves remain vital to Guyana’s sea defence efforts

By Staff Reporter
July 31, 2023

A section of those who participated in the activity

AS part of this year’s activities for International Day for the Conservation of Mangrove Ecosystems, the Ministry of Agriculture’s National Agriculture Research and Extension Institute (NAREI), in collaboration with Environmental Management Consultants (EMC) Foundation, hosted a mangrove odyssey to bring awareness of the importance of mangroves.

The event took place along the seawall from Turkeyen to Ogle and saw participation from several government officials and members of the diplomatic community.   Agriculture Minister, Zulfikar Mustapha, while offering remarks, said that mangroves play an important role in preserving Guyana’s local ecosystem while acting as a natural sea defence.

“We are living in a region that is very vulnerable, the second most vulnerable in the world and we must be prepared. I’ve been having regular discussions with the EMC and I can assure you that there will be more activities like this to highlight the critical role mangroves play in preserving our eco-system as well as developing our natural sea defences,” he noted.

Minister Mustapha also said that the government has, over the last three years, expended hundreds of millions of dollars as part of Guyana’s efforts to regenerate mangroves along Guyana’s coast.

“Since I became Agriculture Minister, the government has expended in excess of $500 million to support our mangrove restoration efforts. This shows the government’s commitment to ensuring these systems are preserved.

“Although these efforts have a positive impact, we cannot do it alone. We need support from other organisations. I am pleased to see so many organisations onboard. I want to encourage others to come onboard so that we can have more activities like this and make a greater impact,” he added.

The day’s activities also included bird watching, games, and exhibitions aimed at highlighting the importance of mangroves.

British High Commissioner to Guyana, Jane Miller; the United Nations Resident Coordinator in Guyana, Yeşim Oruç; EMC’s Managing Director, Shyam Nokta, and other staff of the Ministry of Agriculture also participated in the event.

 

 

Trinidad & Tobago

Playing games with youths

NEWSDAY
3 DAYS AGO

HISTORY will be made when, for the first time, this country hosts the Commonwealth Youth Games which kicks off today.

Or at least that’s the plan.

Unfortunately, the games have been overshadowed by the public tussling between the Ministry of Sport and Youth Affairs and the Tobago House of Assembly (THA) over the site for beach volleyball.

The contract for hosting the games was signed a year ago, but up until Sunday the THA was awaiting a shipment of special sand from Guyana for a new site chosen in April. Eventually, officials assured the sand had arrived and the facility would be ready by Thursday afternoon, ahead of Saturday’s first fixture.

Surely this is some kind of record.

The political back-and-forth between Scarborough and Port of Spain has now claimed its first major casualty. While the developments relating to the shifting of beach volleyball from Pigeon Point to Black Rock are hardly emblematic of the organisation of the games, they nonetheless cast a pall over the proceedings and hinder efforts to stoke public enthusiasm.

Shamfa Cudjoe, the Minister of Sport and Youth Affairs, has already suggested the last-minute changes in Tobago may have diminished the Commonwealth Games Federation’s confidence in TT as the host.

It is not just the site for beach volleyball that was altered, but also athletics, which was moved from the Dwight Yorke Stadium in Tobago to the Hasely Crawford Stadium in Trinidad by Cabinet last November. Ironically, the Dwight Yorke Stadium had been the very first site to be confirmed with federation officials.

Ms Cudjoe, who lamented she had been unsuccessful in trying to contact THA executives, also noted the range of approvals that should have been locked in long ago, including from the Town and Country Planning Division and the Environmental Management Authority.

Meanwhile, Terrance Baynes, the THA Secretary of Community Development and Sport, sees things differently. According to him, it has been “disheartening” having to respond to “foolishness every minute.”

It’s not only the warring politicians who aren’t seeing eye to eye.

Police officers assigned to the games have been asking about the payment of extra duty fees, but this has been reportedly blanked by the Ministry of National Security. The State views the games as national duty.

Regrettably, the effort behind this tournament is being undermined by such squabbles. We note, with serious concern, the potential for further embarrassment if all this continues.

Approximately 1,000 athletes representing 70 countries will be on our shores for this event, many of them talented teenagers at the start of burgeoning sporting careers. We call on the public to embrace them, even if the public officials, who seem to want to play games more so than the athletes, fail to.