Dip in gold reserves is strategic trading – Central Bank

first_imgThe Bank of Guyana (BoG) has defended its decision to sell off portions of Guyana’s gold reserves, saying the move was reflective of “strategic trading”.In a statement on Thursday, Central Bank clarified that it trades gold and replenishes the stock based on market opportunities. The bank noted that gold is not managed as an exclusive reserve asset for holding, but as part of a portfolio of assets.“Gold may be sold for a number of reasons; including maximising profits, rebalancing of the portfolio, meeting liquidity needs, or optimising opportunities in other asset classes. With the price of gold as high as US$1364 recently, the bank has been trading gold as any bank worth its salt will do,” BoG posited.To this end, it added that “Dips in the reserves therefore, reflect strategic trading rather than any involuntary disposal of gold.”As such, the Central Bank assured that the benchmark for the holdings of international reserves are vigilantly adhered to and upheld. It further stated that the domestic market has an excess supply of foreign currency to meet domestic demand while maintaining a stable foreign currency exchange rate.On Wednesday, read more

$30M approved for completion of Drop-in Centre

first_imgThe National Assembly – which consisted of only Government Ministers as the Opposition is awaiting a court ruling on the validly of the passage of a no-confidence vote against the Administration – last week approved a request for an additional $30 million to facilitate the completion of the new Drop-in Centre at Sophia, Greater Georgetown. The centre was scheduled to be completed in April of this year but this deadline was not met.Addressing the National Assembly’s Committee of Supply on the request, Social Protection Minister Amna Ally said that the supplementary funds are to be used specifically to address gaps in the centre’s fire prevention systems as well as to procure a transformer, for electricity.Ally, in her request, further explained that proper fire prevention infrastructure needs to be in place to ensure the safety and security of the children being housed at the facility given past incidents. The Minister was at the time referring to the July 2016 fire, which destroyed the entire top flat of the centre’s Hadfield Street, Georgetown location and claimed the lives of two brothers, Antonio and Joshua George, aged two and six. The preliminary report from this incident had revealed that the centre had systematic problems and bad policy arrangements for any occurrence of a fire or similar emergency.“In 2016 it must be noted that the original Drop-in Centre was burnt down and we have now constructed and new Drop-In and Family Centre in Sophia. The buildings are completed, however, the fire escape at this centre was not done and so we want to ensure the safety of our nation’s children hence we are ensuring that we take every possible safety measure with this new building and complex,” Ally stated.With regards to the procurement of a transformer for the housing facility, the Minister stressed the provision of adequate electricity to the multimillion-dollar complex, while clearly adding that “in addition to that, we also wish to provide a transformer so that adequate electricity can be given at that centre”.The Social Protection Minister recently disclosed that over $150 million has been pumped into this new facility, presently under construction at Block C Sophia, Greater Georgetown.According to Ally, the new Drop-in Centre seeks to provide housing for vulnerable children as well as young adults, as she reiterated that the facility is much-needed to ensure that disadvantaged children in the public system are provided for and taken care of in a conducive environment.Nevertheless, Minister Ally reassured that the multimillion-dollar facility does not seek to replace the existing homes but rather serve its rightful purpose effectively.last_img read more

Prison raids unearth dozens of improvised weapons, other contraband

first_imgRanks of the Joint Services on Saturday conducted a series of searches at the New Amsterdam and Mazaruni Prisons in addition to the holding bays at the Lusignan Prison, and found a number of prohibited items.Police, in a statement, said that some 23 cellular phones, 16 phone chargers, 7 earpieces, 6 smoking utensils, 3 SIM cards, 1 memory card, 27 metal spoons, 2 metal plates, 48 lighters, a quantity of razor blades and construction nails, six batteries, a quantity of small-sized ziplock bags, 6 grams of cannabis, 1 pack bamboo, 2 pairs of scissors, one glass bottle, four bottles of locally made wine, a quantity of wires, 1 speaker, 1 whistle, 1 screwdriver, three mirrors, three nail clippers, one tweezer, one grater, one bottle nail polish, 10 empty tins, and 28 improvised weapons.The searches were conducted between 05:00-10:40h and involved a total of 138 ranks.Just Friday, the swift response by members of the Guyana Prison Service (GPS) thwarted a plot by several inmates to break out of the Camp Street penitentiary.Sometime after 10:00h on Friday, Prison Service personnel became aware of an attempt by some inmates to break out of the jail. Emergency alerts were sent out and ranks of both the Guyana Police Force (GPF) and the Guyana Fire Service (GFS) responded.Prisons Director Gladwyn Samuels confirmed that the incident took place, stating that he, along with other ranks, were interacting with prisoners in the security block of the Georgetown prison when they observed that several bars of a cell had been cut and secured with cloth.According to a press release from Samuels, the Heads of Joint Services were alerted and the immediate search operation revealed that bars of another cell had also been cut. In addition, several hacksaw blades were discovered during the search.The GPS Director pointed out that Safrei Alexander, an escapee from the July 9, 2017, prison break and Ryan Jones, who is serving a 28-year prison sentence for manslaughter, are reportedly the masterminds in the escape bid.last_img read more

Cantwell playoff schedule adjusted

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! 11:40 a.m. The baseball game between Woodcrest Christian and Cantwell Sacred Heart of Mary in the CIF Southern Section, Division V playoff quarterfinals will be played Saturday, beginning at 11 a.m. at Cantwell. The game originally was scheduled to be played Friday but Woodcrest Christian has three starters who could not be excused from taking AP tests. “Academics always come first here at Cantwell,” athletic director Pete Smolin said. “Agreeing to make the switch for Woodcrest Christian was easy, a no-brainer.”last_img read more

Premier League move does interest Man United target, talkSPORT told

first_imgtalkSPORT’s Spanish football expert Graham Hunter claims Sergio Ramos is interested in a move to the Premier League amid rumours of interest from Manchester United.The Real Madrid defender has been linked with a switch to the Red Devils, and could be used as part of any deal which takes David De Gea to the Bernabeu.And Hunter insists the World Cup winner would fit in well at Old Trafford.“I’ve spoken to Sergio Ramos about playing in England and it does interest him,” he told Hawksbee and Jacobs.“He has been seduced by a number of his Spain teammates coming back and saying, ‘this is what it’s like in the Premier League.’”When asked about a Manchester United deal, he added: “It’s not a simple yes or no. Rafa Benitez will not want to start his reign losing Ramos but, it coincides with direct interest from Real Madrid in Manchester United target Nicolas Otamendi at Valencia. He’s younger and might come more cheaply.”And, anyone concerned about Ramos’ ability to handle the physical element of the Premier League, shouldn’t worry with Hunter claiming the Spain star is good enough to mix it with the best.“Ramos is not sly, he’s a brutal competitor. He fits into wholly in the British tradition of centre-half who will mix it and give out physical intimidation to certain players,” he continued.“He will try and talk to the referee and intimate him in certain situations. He’s a player who leaves everything on the pitch, he doesn’t hold grudges afterwards.“He has often come out and said when he’s in the wrong. He is world class.”last_img read more


first_imgFianna Fáil TD Charlie McConalogue has called on the Minister for Communications Pat Rabbitte to guarantee that the National Broadband Plan, to be published next month, will address the serious deficiencies in broadband access in many areas of Co Donegal.Deputy McConalogue has raised serious concerns about recent comments from the Next Generation Broadband Taskforce that “spatial distribution patterns in Ireland make the delivery on a commercial basis of high speed broadband to more isolated rural areas cost prohibitive for industry.”The Donegal North East TD commented, “Minister Rabbitte announced his broadband plan amid great fanfare last year and claimed that nearly every household and business in Ireland already has access to competitively priced broadband.  But we can see in Donegal that is certainly not the case. “The Broadband services in many areas of this county are poor at best.  The Programme for Government committed to bring fibre-power broadband to 90% of homes and businesses in Ireland. The progress of that plan, if any, certainly can’t be seen in Donegal.“The consequences of poor broadband services are significant for this region. The Taoiseach himself has said that the internet industry is the key to Ireland’s economic recovery. How can we expect to retain and create jobs in Donegal if the basic service is not being provided?“The Next Generation report has asked for contributions from the public. I would urge the people of Donegal to make their voices heard and contact nextgenerationbroadband@dcenr.ie to demand improvements to broadband in their area.“Donegal has been left behind when it comes to high-speed broadband and we need to be brought up to speed with the rest of the country. In the interests of economic recovery and job creation, Minister Rabbitte must ensure his plan is fair to every region in f the country. No business or household can be left behind.  I am calling on Minister Rabbitte to deliver on his promise and guarantee full broadband access in Donegal.”  ‘DONEGAL MUST NOT BE LEFT OUT AGAIN OVER BROADBAND’ – TD was last modified: May 23rd, 2012 by BrendaShare 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) Tags:’DONEGAL MUST NOT BE LEFT OUT AGAIN OVER BROADBAND’ – TDlast_img read more

The Sister Sara’s lineup promises some very Happy Christmas nights out – Picture Special

first_imgThe lineup for Sister Sara’s this festive season is one that is really going to get the party started.The Letterkenny superpub has booked three top-class DJs for your festive nights out, including Keith Fletcher, Dj Marty Temple, the man from the Island Dj Tubbsy and Dj Marty.With unrivalled party atmosphere in Sister Sara’s, there is only one place to guarantee a fantastic night. So if it’s chart, old skool classics, party anthems mixed in with all your favourite Christmas music with a splash of country there is one one place to go. Get into the party spirit before Christmas with these three fantastic nights out:Saturday 17th DecemberDj Marty…..great music, drinks and atmosphereWednesday 21st December – The Welcome Home PartyDj Kevin Mc Daid provides the tunes for everyone who has come home for the holidays.Meet up with your old friends and make new ones at Sister Sara’s. After all, that’s what holiday time is all about – catching up with old friends and making new memories.Friday 23rd December – SEXY SANTA PARTY NIGHTHighland Radio’s Keith Fletcher gets the pre-Christmas party going and there will be some brilliant prizes for the best Sexy Santa Let your party start this weekend with Sister Sara’s Letterkenny. Check out the gallery below for some festive dressing inspiration from a Christmas Jumper night at Sister Sara’s.Check out the Sister Sara’s Facebook page for all the updates: www.facebook.com/sistersaras The Sister Sara’s lineup promises some very Happy Christmas nights out – Picture Special was last modified: December 16th, 2016 by Rachel McLaughlinShare 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) Tags:CHristmasletterkennynightclubSister Sara’ slast_img read more


first_imgWe received a terrific response to our Turbo goodie bag competition in conjunction with Century Cinemas.The cool Turbo goodie bag!Unfortunately there could be only one winner of the goodie bag which contained a watch, a memory pad, t-shirt and lots of other fun stuff.But Gerald Porter from 15 Leitir Ard, Letterkenny was the name picked out who correctly answered that Turbo was a snail! Don’t worry if you didn’t win this time, there’ll be plenty of other goodie bags on the way.Century Cinemas will be in touch with Gerald for him to arrange to collect his prize.TURBO GOODIE BAG WINNER GERALD IS NOT SO SLOW! was last modified: October 4th, 2013 by StephenShare 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) Tags:competitiongoodie bagsnailTurbowinnerlast_img read more

Are you registered to vote? Deadline fast approaching

first_imgThe deadline to register to vote is in just two weeks time, on the 25th of November, for next year’s elections.To apply, simply download this form, and post it to your local council.If you turn 18 before the 15th of February, you can apply now instead of waiting until your birthday. Exercise your democratic right to vote and make sure you’re registered by checking the register here. Sinn Féin Finance Spokesperson Deputy Pearse Doherty adds;“Having the right to vote and to have a say in who it is you wish to represent you and stand up for your interests is one of the most important rights which we as citizens have.“Suffrage and being registered to vote and using that vote is the only way we will be able to bring about the kind of change we want for our country and for its people.“On Friday November 25th, which is now less than two weeks away, there is an important deadline which we all need to know about.“This date is the last day on which you may register to vote for elections and referenda which are to take place in the state, and it is therefore vital that each of us checks to make sure that we are registered to cast our ballots.“And if not, I am urging everyone to fill in and complete the application form for inclusion to the electoral register, and return it their local authority before the deadline later this month.“Application forms for inclusion to the Electoral Register, Special Voters List, Postal Voters List and the amended Electoral Register are all available from local authority offices, post offices and public libraries.“Forms are also available online and may be downloaded by going to www.checktheregister.ie““Should anyone require any help in having their name added to the register, they can also contact my office anytime with their name and address and all assistance will be provided.“As well as ensuring that you personally are registered,  don’t forget to check with your family and friends and encourage them to register to vote as well.“Also, if you are due to turn 18 before the 15th of February next, you can also register to vote now too.“Being registered to vote and using that vote is so important. I am encouraging everyone, irrespective of who they wish to vote for or how they choose to use their vote, to make sure that they register before Friday 25th November.”Are you registered to vote? Deadline fast approaching was last modified: November 13th, 2016 by Elaine McCalligShare 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