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Full refunds for CLICO Guyana policyholders

September 18, 2010 Leave a comment

President Jagdeo

GEORGETOWN -CLICO policyholders who may have thought they’d lost all their money following last week’s ordered wind-up of the operations of the troubled company’s Guyana branch, have received some good news from  President Bharrat Jagdeo: They’ll get back their money within a matter of weeks.

Jagdeo has rolled out a rescue plan that guarantees refunds to all those who were affected by the company’s financial troubles. Disclosing the bailout plan to a large gathering of CLICO shareholders yesterday, the country’s leader explained that policyholders with investments in the company up to a maximum GUY$30 million (US$145,842) as of February 2009, will be repaid in full.

Of the GUY$600 million (US$2.9 million) in cash resources which CLICO has immediate access to, Jagdeo said GUY$500 million (US$2.4 million) will be used to ensure that 6,924 people with long-term insurance policies, including life insurance, are covered; while the remaining funds will be set aside to cover the expenses of the company until wind up.

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Caricom leader to resign after nearly 2 decades

August 5, 2010 2 comments

Edwin Carrington

GEORGETOWN -The longtime leader of a Caribbean trade bloc announced his resignation Wednesday, surprising many who had praised the way he dealt with nearly two decades of challenges.

Edwin Carrington is the longest serving secretary general of the Guyana-based Caribbean Community, created in July 1973. He is credited with helping boost the region’s sluggish economy and creating a regional appeals court.

“It has been a period of important achievements as well as significant disappointments,” Carrington said in a statement. “I leave satisfied and confident however, that Caricom now has a solid platform.”

Carrington did not specify the disappointments or say why he decided to give up the post at the end of December, but said he was looking forward to dealing with family issues.
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Sarwan returns to lead Guyana in Caribbean T20

July 16, 2010 Leave a comment

Ramnaresh Sarwan

GEORGETOWN –Ramnaresh Sarwan has been named Guyana captain for the Caribbean T20 tournament and will lead a squad that does not include Shivnarine Chanderpaul.

Sarwan, who missed the Test series against South Africa due to an injured hamstring, makes a return to competitive cricket in the competition starting July 22.

The tournament comprises seven other teams from and the winner qualifies for the Champions League Twenty20 in September.

Meanwhile, Darren Sammy, the Windward Islands captain, has said he’ll be banking on the team’s bowling as it prepares to compete in the same tournament.

The Windwards team includes several players with international experience.

Among them are openers Andre Fletcher and Devon Smith; pacer Nelon Pascal; off-spinner Shane Shillingford and leg-spinning all-rounder Rawl Lewis.

“I don’t see why we can’t come out on top.

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Categories: Regional, Sports

President Jagdeo sells property for US$600,000

July 16, 2010 Leave a comment

GEORGETOWN – President Bharrat Jagdeo has sold his Goedverwagting, East Coast Demerara property to Guyana’s honorary consul to Trinidad and Tobago, Ernie Ross, his lawyer confirmed Tuesday.

In a statement prompted by “inquiries from various Press outfits” and “to avoid a public dissemination of misinformation and unnecessary speculation,” attorney Anil Nandlall said he handled the sale of the Lot 135 Block 1 Plantation property for the agreed purchase price of US$600 000 (or $1 200 000).

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Categories: Regional

Cricket: An overview of the inaugural Caribbean T20 2010

July 13, 2010 Leave a comment

by Darrell Victor

GEORGETOWN -The Caribbean T20 tournament replaced the Stanford T20 as the Caribbean’s premier Twenty20 tournament. Since Texan billionaire Allen Stanford got into legal difficulties, the West Indies Cricket Board contemplated a replacement event. Given the financial constraints of the board, the Caribbean T20 is much shorter and has fewer teams.

In the inaugural event, there are eight teams. The winner of the competition would be decided after nine days and fifteen matches. Trinidad and Tobago and Barbados are joint hosts of this event, with the opening match and opening two rounds being played in Barbados. Trinidad and Tobago would host the final round of the zone games, the semi-finals and the grand final. Barbados hosts all their games at the Kensington Oval, while the Queen’s Park Oval in Trinidad hosts all the fixtures scheduled for Trinidad.

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Categories: Diaspora News, Regional, Sports

Jamzone goes regional

July 10, 2010 1 comment

Ms. Nikita Archer

By: Alex Holder Sr.

GEORGETOWN –23-year-old Nikita Archer, a teacher, will represent Guyana in this year’s regional Miss Jamzone pageant. The announcement was made earlier this evening by pageant coordinator for Hits and Jams Mrs. Dascia  Clarke.

Jamzone 2010 will be the first to feature regional contestants. It runs from August 14-22.

Organizers say the move is to not just improve the image of the contest, but rather amplify the footing of Guyana as a tourism destinations.

Some of the islands competing against Guyana for the coveted crown include Jamaica, Trinidad and Tobago, Antigua, Dominican Republic, St. Lucia, Barbados and neighboring Suriname.

“Jamzone 2010 is a very great undertaking,” says Hits and Jams Director Kerwin Bollers.

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Categories: Entertainment, Guyana, Regional

States Should Utilise CCJ in Trade Disputes – Jagdeo

July 8, 2010 Leave a comment

JAMAICA/GUYANA -President of Guyana, His Excellency Dr. Bharrat Jagdeo, has reminded that CARICOM states have recourse through the Caribbean Court of Justice (CCJ), to fight trade barriers that negatively affect regional producers.

“You have this situation where in a single economic space, some producers may be getting their inputs cheaper or more subsidies more than others, so their goods become more competitive on the market.its very difficult to prove those sorts of things because you’re dealing with the rules of origin, and sometimes you don’t get all of the information,” he said.

Dr. Jagdeo said that with the CCJ in its original jurisdiction, to which CARICOM countries have all subscribed, “if someone feels aggrieved and they have a strong case they should go to the court, and if there is a court ruling then the country will be forced to comply”.

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