Pay close attention to diminishing reserves

first_img– Former Junior Finance Minister advisesBy Samuel SukhnandanInternational reserves held by the Bank of Guyana (BoG) declined in the first half of 2017 to US$578.4 million, a decline of US$18.3 million from the US$596.7 million that had been collected during the same period in 2016, and a representation of 3.4 months of import coverage.This, according to former Junior Finance Minister Juan Edghill, is something that must not be overlooked. Rather, close attention must be paid to this issue, because if this trend continues, in a few years from now, it will have significant ramifications for Guyana’s financial sector.Opposition MP Bishop Juan EdghillThe information contained in the Government’s Mid-Year Financial Report for 2017 pointed to the fact that, even with increased domestic earnings — which resulted from the revised tax regime introduced by the APNU+AFC Coalition Administration — this did not change the situation.Edghill reminded that the internationally accepted standard is 3.5 months of import coverage, but he said that if this figure continues to decline, Guyana could be heading into a major foreign reserve issue.“You may end up with restrictions and controls on foreign currency. The market may no longer be a free market. You might end up with restrictions on what money could be made available for imports, because that could put a demand on foreign currency,” the former minister explained.But equally important, a diminishing reserve is an indication that the country is spending more than it is earning, something that is not novel. However, Edghill said that because Guyana is not earning less in terms of foreign currency, the country would not be able to match the local demand for foreign currency.He said, “One may suspect that you have to be putting (sums of money) from the reserve into the market for the demand…That is a signal of the underperformance of a number of sectors that contribute to Gross Domestic Product and bring in foreign reserve. We are earning less.”Despite these arguments, the former Finance Minister told Guyana Times, he would not make “too much noise” about the issue, since the situation is a bit manageable. However, he noted that the figure on foreign reserves has sent a signal that things could worsen if prudent management is not practised.Earlier this year, officials at the BoG revealed that US dollars in the system had increased by an excess of between US$10M and US$20M. The selling rate then was between Gy$208 and Gy$210 for US$1 at most financial institutions, since the US dollar was not in abundance.Overseas-based financial analyst Sasenarine Singh had claimed that Guyana’s foreign currency reserves decline was started under former President Ramotar, but the pace of the decline accelerated multiple folds since the election of President David Granger.Singh said that both of these Presidents have failed to stimulate value-added ventures in the agriculture sector, especially in the local sugar industry. However, he said evidence supports the position that the economy is being bungled under Granger. And unless Finance Minister Winston Jordan rolls out some urgent progressive policies to stimulate investments, the run on the Guyana dollar can possibly hit Gy$250 to one US dollar by Christmas 2017, Singh had predicated.He said the Granger Administration must rebuild the international reserves, stabilise the exchange rate, and stimulate investment in the Guyanese economy. If these strategies are successfully implemented, confidence can be restored in the Guyanese economy, and this would attract foreign direct investments.Following the unease in the local economy about the availability of foreign currency, the BoG had instituted stricter monitoring measures. Government has never admitted to a shortage.last_img read more

Watch: Former Liverpool star Suarez fires Barcelona into cup final

first_imgLuis Suarez netted again for Barcelona on Wednesday night as the Spanish giants beat Villarrael to book their place in the Copa del Rey final.The Uruguayan found goals difficult to come by in the early part of his Nou Camp career following his move from Liverpool last summer, but has been in sensational scoring form in recent weeks.His sixth goal in as many games, sandwiched between a double from Neymar, helped Barca to a 3-1 win in the semi-final second-leg meeting with Villarrael and sealed a 6-2 aggregate victory.Check out all the goals from the game in the video above.last_img

Motherwell boss: We’ll have chances at Rangers just like Accies did

first_img“So I think there are opportunities for us to go there [and get a good result], but their ability to go and sign players is different. “Regardless of the noise that is coming out of there, they’re still signing players we couldn’t sign. It’s difficult for the rest of us to compete with that.”Motherwell suffered a chastening 5-0 defeat to Celtic in the League Cup last week, but McGhee believes his team can keep in touch with Rangers in a way they can’t with the Scottish champions.“At the moment [Rangers] have not quite got to the stage of signing the sort of players that Celtic are signing for millions and millions,” he said. Mark McGhee believes his Motherwell side will get “opportunities” against Rangers just like Hamilton Accies and Dundee have this season.The Steelmen travel to Ibrox to face Mark Warburton’s side this weekend on the back of two defeats to St Johnstone and Celtic.But McGhee insists that his team can take something away from Govan, referencing Hamilton and Dundee’s recent performances against Rangers so far this season.“Hamilton played really well that day… the second half against Dundee, Dundee played well,” he said. “So therefore we still feel that we should be in touch with them in a way that we maybe have no right to think we are with Celtic. “I think we can go there believing that if we can play really well we can get something, as Accies did.”last_img read more

Celtic warm up for Champions League with 2-0 win over Motherwell

first_imgThe Steelmen had lost 12 goals in their previous two games in the east end of Glasgow and will be glad the scoreline was not so damaging although they never looked like pulling off a shock win.Rodgers demonstrated the depth of his squad by bringing in midfielder Liam Henderson for his first start of the season.He was one of three changes with right-back Cristian Gamboa and midfielder Stuart Armstrong also in for injured Mikael Lustig and Nir Bitton with Tom Rogic rested.Well boss Mark McGhee gave a debut to 18-year-old left-back Jack McMillan while 19-year-old midfielder Ross McLean made his first start in midfield. Without being relentless, Celtic controlled the first-half with early efforts from Henderson and Armstrong.In the 17th minute Well keeper Samson made a fine save from Dembele’s curling shot which was heading to the top corner and then from Erik Sviatchenko’s header from the resultant corner.However, the former Killie number one had no chance moments later when James Forrest’s cross from the right was missed altogether by Dembele 12 yards out only for the in-coming Sinclair to guide the ball high into the net.In the 38th minute Dembele ended a swift and incisive Hoops counter attack – a result of a sloppy McMillan pass in midfield – by striking the post with a shot from 14 yards.And with a minute remaining of the first-half, Scotland left-back Tierney deserved a goal following his wonderful run which took him past Scott McDonald, Richard Tait and Ben Heneghan but his shot from 16 yards crashed off the bar.Celtic’s grip on the game remained firm after the break.In the 53rd minute Samson pulled of a fine double save, first from captain Scott Brown’s low deflected strike and then at the post from Dembele who was following up.At the other end Motherwell striker Louis Moult had a couple of efforts, one with his head, one an attempted cross after good work by the impressive Chris Cadden, that should have had troubled the home side more.The Parkhead side had several attempts on goal, the closest to another score coming in the 74th minute when Sampson had to make a great save from Sinclair’s drive after the Well defence had been cut open.The slender lead might have led to inevitable Celtic nerves in the final stages but in the 87th minute the Well defence switched off and Samson tripped Dembele as he chased a Brown pass, with the French forward firing in from the spot for his 13th of the season for Celtic.It was a perfunctory victory for the home side but they should expect more trouble from Borussia Monchengladbach when their Champions League campaign resumes. Celtic cemented their place at the top of the Scottish Premiership with a routine and mostly trouble-free 2-0 win over Motherwell at Parkhead.Hoops forward Scott Sinclair steered in the opener after 18 minutes with Moussa Dembele and Kieran Tierney hitting the woodwork before the break.Brendan Rodgers’ side controlled the second-half as well but had to wait until three minutes remaining to be sure of the points with Dembele scoring from the spot after he had been brought down by Well keeper Craig Samson.Celtic remained four points ahead of Aberdeen with a game in hand and now turn their attention to the visit of Borussia Monchengladbach in the Champions League on Wednesday night.last_img read more

last100 Competition: Name Your Top 5 Digital Lifestyle Products, Win a Computer!

first_imgRelated Posts ReadWriteWeb network blog last100, which focuses on digital lifestyle products and services, is currently running a competition where you could win a top of the line HP HDX Dragon Entertainment Notebook valued at around $5,000. To be in to win, leave a comment on last100listing your top five digital lifestyle products and/or services.They don’t need to all be products you own, and they could be digital lifestyle services you use, but they must all be currently available. Here’s an example, last100 editor Steve O’Hear’s top 5:iPod touchBBC iPlayer (for iPhone/iPod touch)PlayStation 3Zattoo (Live TV on a PC)Pandora (Internet radio)My current top 5 is:iPhonelast.fmiPod / iTunesPlaystation 3Skype richard macmanus A Web Developer’s New Best Friend is the AI Wai… Tags:#Digital Lifestyle#web center_img Top Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Marketlast_img read more

3rd Test: Stuart Broad leads England to series win against South Africa

first_imgA venomous spell of fast bowling from Stuart Broad led England to an emphatic seven-wicket win over South Africa in the third Test on Saturday to clinch the series.Broad’s brilliant return of 6 for 17 on a lively wicket skittled the Proteas for 83 in their second innings on the third day. England reached their modest victory target of 74 with relative ease as captain Alastair Cook (43) top-scored in guiding them to 77 for 3 from 22.4 overs under gloomy skies.The tourists now have an unassailable 2-0 lead in the four-match series, with the final game to be played in Pretoria.”Jimmy Anderson and Stuart Broad were exceptional as a partnership, it’s a privilege to captain those two. It’s one of those days we will look back on for a long time,” Cook said at the presentation ceremony.”It’s been a great tour, to come out here and beat South Africa in two test matches. There is more to come though, we should never be satisfied.”South Africa bowled out England for 323 in the morning session for a slender first-innings deficit of 10 runs, but were no match for the bounce and movement of a rampant Broad. After removing openers Dean Elgar (15) and Stiaan van Zyl (11), Broad grabbed the key wicket of captain AB de Villiers (0) when he induced an inside edge to wicketkeeper Jonny Bairstow.Hashim Amla (five) then clipped the ball to James Taylor at short-leg, who showed excellent reactions to take a low catch, before Temba Bavuma was bowled for a duck. Broad’s brilliant day was complete when he ended the innings with an excellent catch off his own bowling to dismiss Faf du Plessis (14) for match figures of 8 for 99.advertisementBen Stokes grabbed two scalps and there were also wickets for Anderson and Steven Finn. The latter has complained of tightness on his left-side and will be assessed on Sunday.”They bowled exceptionally well, I havent seen a team bowl that well in a long time,” De Villiers said.”The team will be motivated to finish the series on a high. There are not a lot of issues with the squad, we just need to play better cricket.”Rabada, 20, had earlier claimed his first five-wicket haul in Test cricket when he bagged 5 for 78 to limit England to 323. It was a first home series defeat for South Africa against a team other than Australia since England won 2-1 in 2004-05.last_img read more

Messi Vs Ronaldo, Who Is The Greatest?

first_imgAdvertisementEvery true football fan has at least once engaged in the intense debate about Christiano Ronaldo vs Lionel Messi rivalry. It’s definitely a matter of nuance, considering their stats, as well as personal taste, since these two football maestros have different temperaments and playing styles.Ever since their first encounter on the field, at the 2007-08 Champions League semifinal game between Manchester United and Barcelona, it was clear that Messi and Ronaldo were major competitors. Today, if we take into account the number of trophies won, as well as individual awards such as Golden Shoe or Ballon d’Or, it is perfectly clear that these two players fall into the greatest of all times, but the question who is better still remains hard to answer.How Many Trophies Has Messi and Ronaldo?As of 2018, Ronaldo has had 24 club honors, and won the UEFA European Championship title. On the other hand, Messi has 30 club honors, and he won the FIFA World Cup and the Olympic gold medal. Both players are equal when it comes to Ballon d’Or award records.Who Has Scored the Most Goals, Messi or Ronaldo?If we exclude friendly matches, Messi scored 656 goals so far for the clubs and the national team. Ronaldo’s all-time goal count is 682, but although the number is a bit higher it doesn’t prove Ronaldo is actually the GOAT (Greatest of all time) because his career is a little bit longer than Messi’s.Who is Faster, Ronaldo or Messi?By many, Messi is considered the fastest footballer alive when it comes to short distances and dribbling skills. Ronaldo is known for his extraordinary abilities in long runs as well as one on one sprint.Take a look at this very informative Betting-Sites infographic below, which provides detailed head-to-head comparison of the two greatest soccer players of all time.Original article source – read more

Worked on a few things in batting, says Cheteshwar Pujara

first_imgSounding a warning to Bangladesh and Australia, prolific Indian no. 3 Test batsman Cheteshwar Pujara said today he had been working out a few new things in his game which he could try out in the Irani Cup game for Rest of India against Gujarat starting on Friday.”I have worked on a few things in my game. Probably I’ll try and execute them in this game. I can’t disclose much about my batting. I like to score big runs but that is one thing that is on the cards,” said Pujara, who will lead the Rest against the newly-crowned Ranji Trophy champions at the Brabourne Stadium.”Obviously, I have played enough cricket at CCI (Cricket Club of India) and in Mumbai, so I know how the conditions will be. Obviously, I would firs think that we want to win the games, so I would want to score runs. If I score some and get set, then I would like to try a few things,” the Saurashtra batsman added. (Cheteshwar Pujara smashes 8th Test hundred as India sweep series vs New Zealand)India are to play a one-off Test against Bangladesh in Hyderabad later this month followed by a four-Test series against Australia, a team that got whipped 4-0 on its last visit to this country.Pujara has a splendid record against the Aussies at home, having scored 495 runs in five Tests at a robust average of over 70.He has been in very good touch in the two Test rubbers that India have already played this season at home – against New Zealand (373 runs in 3 Tests) and England (401 runs in 5 Tests).advertisementThe 28-year-old Rajkot-born cricketer, who averages a shade under 50 after 43 Test matches under his belt, said the Irani game offers him a good opportunity to get into the groove ahead of the remainder of the Test season at home. (Cheteshwar Pujara’s Kanpur transformation augurs well for Indian Cricket Team)”I think it will be good for me to have some practice before the Test series starts. I always love playing first-class cricket. It gives you the experience, the exposure, it helps you keep in touch.”Saying the year that went by was a hugely successful one for India, Pujara credited team work for the result.”The last year was very good for the Indian team. We played very good cricket, especially in Test matches, where we haven’t lost a match. Most of the matches we dominated and we played as a team.”All the players performed, that was the reason for our success. Our lower order contributed, our pacers and spinners both did well and all the batters, at some stage, did well. That was the reason for our success.”He praised the lower order batting of Ravichandran Ashwin, Ravindra Jadeja and newcomer Jayant Yadav for frustrating the opposition with defiant stands. (Cheteshwar Pujara the man for India at No.3: Sourav Ganguly to India Today)”It makes a huge difference for the team. The opposition, especially, always gets frustrated. Obviously Ashwin has been batting well, Jadeja has improved his batting and when someone like Jayant scores a hundred, they get tired.”And when they have a chance of getting us out for a lesser total, we end up getting a lead of 150-22. That puts them under (more) pressure.”Talking about this year, the way we started the year, chasing 350 (in the first ODI versus England at Pune) was a big achievement. The way Kedar Jadhav and Virat played was fantastic,” he added.He praised Karun Nair’s triple hundred in the Chennai Test that India won for a thumping 4-0 victory over England.”To score it (triple ton) at international level is a very big achievement. It was remarkable. No matter what kind of wicket you are playing on, to score a triple hundred in international cricket is never easy. Not many players have done it. So I would say it was a very good innings.”That was a session where he had to accelerate because we wanted to declare. He played his shots, that was his game.He has so many shots in his game, which is a plus point for him. He is a dedicated cricketer who always wants to improve. (Virat Kohli, Cheteshwar Pujara approach key milestones in Test cricket)”I have seen him the way he used to play for India `A’ a couple of years ago and now, there is a big change in his batting and approach. If he continues like this, it will be really good for the Indian team. I hope he does that.”advertisementThe Saurashtra batsman welcomed the competition in the team, when asked about wicketkeeper Wridhiman Saha, who was replaced by Parthiv Patel after he got injured.”It’s very good for the Indian team. Both are experienced, both are performing well. Ultimately it would be up to the team management to decide. I always believe if you have healthy competition, it s very good for the team.”If we want to be No. 1 in the world, we need to have some back-up players. Not just wicketkeepers, but even in other departments. We need players who can come in and perform well. Someone like Karun Nair is a prime example. He was doing well with the India `A’ and when he got the opportunity, he scored a triple hundred. We need such players.” (The importance of being Cheteshwar Pujara)He advised gangling Rajasthan pace bowler Pankaj Singh, included in the Rest outfit, to take a cue from Parthiv who made a comeback after several years in the series against England by forcing his way through domestic cricket performance.”He is a very good bowler. Personally, I feel he is one of the most talented fast bowlers we have. He had an opportunity to represent the Indian team when we toured England (in 2014). Things didn’t go well but he is someone who always likes to improve.”He always gives his best and I definitely feel if he keeps performing at this level, he will definitely get an opportunity to play for the Indian team again. It s just about maintaining his fitness, maintaining his bowling. He has to keep improving. Parthiv Patel is one example of having made a comeback after doing well in the domestic circuit,” Pujara said.last_img

Transfer roundup: Wolves seal £5m deal for Monaco’s João Moutinho

first_imgShare on LinkedIn Ince joins Potters from HuddersfieldStoke have completed the signing of Tom Ince from Huddersfield for an initial £10m fee that could rise to £12m with add-ons. The 26-year-old winger has agreed a four-year contract with the Championship club, just one year after joining Huddersfield from Derby, where he worked with new Stoke manager Gary Rowett. “I’ve had the fortune to work with Tom before and he’s a terrifically talented player,” Rowett told the club website. “He’s very strong technically and can play anywhere across the front three.”Ince joins goalkeeper Adam Federici, Nigeria midfielder Peter Etebo, winger James McClean, and striker Benik Afobe in moving to the bet365 Stadium this summer. Stoke City Wolves have confirmed the signing of Portugal midfielder João Moutinho from Monaco for a fee of £5m.The 31-year-old midfielder has signed a two-year deal as the promoted side continue to add to their squad ahead of their Premier League return next month. Bournemouth Twitter Premier League Diego Rico is unveiled as a Bournemouth player. Photograph: AFC Bournemouth/Getty Images Share on Pinterest Everton complete £40m signing of Richarlison from Watford Facebook Reuse this content Pinterest Wolverhampton Wanderers Share on Facebookcenter_img Share on Messenger Transfer window Monaco Rico has helped Leganés avoid relegation from La Liga with successive 17th-placed finishes in his two seasons at the club. He featured 33 times last season but was sent off in the final game, a 3-2 home win over Real Betis.Rico becomes Eddie Howe’s second summer signing following the arrival of David Brooks from Sheffield United earlier this month.Howe, said: “Diego is a player we have been tracking throughout the summer, and it’s great to finally be able to call him a Bournemouth player. He’s a really nice footballer and someone who will fit style of play.“He is fast, physical, aggressive in attack and defensively. He takes an excellent set piece and has a powerful left foot. Once he gets used to the way we play, we believe he can be a real force for this football club.” Share on Twitter Read more Transfer window 2018 – every summer deal from Europe’s top five leagues news Topics Share on WhatsApp Read more Share via Email “I’m very excited,” Moutinho said in an interview with the club website. “It’s a new experience with a great club. I want to help the team to progress,” he added. “My mentality is to play every game to win.”“The club has players I know very well, but they didn’t need to persuade me. I saw the project here, and wanted to help Wolves achieve things in the Premier League.”Moutinho won Euro 2016 with Portugal and has 113 international caps. He started Portugal’s opening two games of the World Cup this year, and won Ligue 1 with Monaco in 2016-17.The former Porto midfielder is the third-highest capped player in Portugal’s history behind Cristiano Ronaldo (154) and Luis Figo (127). Moutinho has also won the Europa League and three Primeira Ligas with Porto.Bournemouth sign Leganés left-back RicoBournemouth have announced the signing of left-back Diego Rico from Leganés, subject to international clearance.The 25-year-old has signed a four-year deal with the Premier League side for an undisclosed fee, believed to be in the region of €12m (£10.7m).“I’m very happy to be here and would like to thank everyone at Bournemouth for making me feel so welcome,” Rico said. “I have heard so much about the manager. I learned he is very professional and has a great philosophy and I can see that is true from the short time I have met him so far. I am very excited to be a Bournemouth player.”last_img read more

Guardiola lauds ‘clinical’ Man City

first_imgManchester City Guardiola lauds ‘clinical’ Man City after brushing Arsenal aside again Rob Lancaster Last updated 1 year ago 07:24 3/2/18 FacebookTwitterRedditcopy Comments(0) Pep Guardiola Getty Images Manchester City Guardiola Arsenal v Manchester City Arsenal Premier League Arsène Wenger First-half goals from Bernardo Silva, David Silva and Leroy Sane pushed the Premier League leaders a step closer to the title Pep Guardiola praised Manchester City’s mental strength after they recorded a second successive 3-0 win over Arsenal in the space of five days.Having beaten the same opponents at the weekend to lift the Carabao Cup, City moved a step closer to clinching the Premier League title with a clinical performance at the Emirates Stadium on Thursday.Bernardo Silva, David Silva and Leroy Sane scored in the first half as the runaway leaders restored their 16-point cushion over nearest rivals Manchester United in the table. Article continues below Editors’ Picks Lyon treble & England heartbreak: The full story behind Lucy Bronze’s dramatic 2019 Liverpool v Man City is now the league’s biggest rivalry and the bitterness is growing Megan Rapinoe: Born & brilliant in the U.S.A. A Liverpool legend in the making: Behind Virgil van Dijk’s remarkable rise to world’s best player Guardiola’s squad now need to win just five of their remaining 10 games to be crowned champions after what their manager described as an “amazing result” on the road.”Mentally we were strong. We were clinical. We scored three outstanding goals,” the Spaniard told BBC Sport.”After that it was not easy — the first 15 minutes of the second half we were poor. Still, it’s an amazing result for us.”We are out of the FA Cup and we have won the League Cup. Now it’s just two competitions, and you fight for one of them for 10 months. “These are the last steps to be champions; you keep going until the end. We have to win five games. We don’t think too much — now we play Chelsea. “Hopefully we have the desire to win, to be the best team in England. We forget that we are tired.”last_img read more