Category: dyekoypw

dyekoypw

Banks DIH taxed profits grew by $501M in 2018

first_imgLocal beverage giant Banks DIH Limited has recorded a whopping $4.085 billion profit after tax according to its 2018 annual report, compared to $3.584 billion in the previous year.This represents an increase of $501 million or 14 per cent, according to Banks DIH Chairman Clifford Reis in his report.The profit before tax, on the other hand, also grew by 18.8 per cent with $6.032 billion recorded in 2018 against $5.079 billion the previous year, representing an increase of $953 million.Revenues generated by the company were recorded at $27.863 billion compared to $26.548 billion in 2017, a five per cent hike.Meanwhile, the Banks DIH Limited Group’s third-party revenue was $30.923 billion from $30.006 billion in 2017 while trading profit from operations for the Group was $6.837 billion last year against $6.196 billion the previous year.Profit after tax attributable to shareholders of the parent company was $4.2 billion while the Group’s Net Asset Value per share increased from $34.33 to $$40.15.Furthermore, the Board of Directors recommended a dividend proposal of $1.10 per share unit, resulting in an overall cost of $934.8 million.According to Reis, who is also the company’s Managing Director, these improved outcomes were as a result of the increase in physical case sales of its Malt Products, XM Rum and Banko Wines as well as the company’s Golden Harvest Bread and baked goods, and Demico and Crème Select Ice-creams and Frostee products.Additionally, he said benefits were also accrued as a result of efficiencies achieved from raw material conversion and improved production throughout, arising from capital expenditure investment over recent years.“The improved results were also as a result of lower prices negotiated for several raw and packaging materials as well as from the prudent management of our financial resources,” he stated.The Chairman noted, however, that the environmental tax affected the selling prices and, therefore, the affordability of the company’s soft drinks and bottled water products.Reis further outlined that the recapitalisation of the company’s capital base was continued during 2018. However, he pointed out that going forward this year, Banks DIH’s capital expenditure thrust will be focused on increasing a number of continuing and new projects including the construction of a new multi-storey car parking facility at the Demerara Park Area, which will include space for planned future development.With regard to Citizens Bank Guyana Inc, profit after tax for the year 2018 was recorded at $602.3 million, while profit before tax was $1.009 billion. Revenues of the Bank stood at $3.160 billion, while Net Interest Income was $2.24 billion and earnings per share was $10.12.Additionally, Citizens Bank’s assets base was $50.5 billion, while loan assets decreased from $28.2 billion to $25.5 billion in 2018, and Customer Deposits were $40.9 billion compared to $40.6 billion in 2017.In terms of quality management and environmental responsibility, Reis noted that the company continued to be guided by principles of sustainability and accountability to reduce or eliminate any impact of its operations on the environment and communities.Against this backdrop, the Chairman posited that Banks DIH would continue with its various programmes that celebrate the country’s diversity.“We continue to evaluate our traditional business model to create wealth for shareholders through the creation of new synergies, implementation of finance and marketing initiatives and, continuing emphasis on cost reduction strategies… These new business models will bring into our existing business portfolio, a new generation of products and services which will foster job creation and added value,” Reis stated.Despite a commendable performance last year, the Chairman said, however, they would remain mindful of the innate challenges of operating a Group which could affect its continued development.Nevertheless, he assured stakeholders of the company’s commitment to deliver better results through initiatives such as innovative technology, leadership in the solar energy sector, the pursuit of market extensions internationally and impending diversification programmes.last_img read more

CONTINUE READING
dyekoypw

Charrandas Persaud files $30M lawsuit against Ramjattan

first_imgFormer APNU/AFC Parliamentarian Charrandas Persaud has filed a $30 million lawsuit against Public Security Minister Khemraj Ramjattan for libel committed after the passage of the no-confidence motion on December 21, 2018.Persaud voted in favour of the no-confidence vote brought by Opposition Leader Bharrat Jagdeo which led to the toppling of the current Government.Former APNU/AFC MP Charrandas PersaudFollowing his vote against the APNU/AFC, Ramjattan ordered that an investigation be launched into Persaud’s activities leading up to the vote after he was accused by the Minister of a corrupt act, taking a bribe and colluding with the opposition among other accusations. Persaud had responded to the Minister’s accusations by pointing out that he took the conscious vote to eliminate the sufferings of persons in Region Six after the Government unilaterally closed down several sugar estates.Hours after his historic vote, Persaud boarded a plane at the Eugene F Correia Airport, where he left the country for Canada.In an interview with Canadian Broadcasting Corporation (CBC) following the vote, Persaud said he made the move to leave Guyana since he was fearful for his own safety because of Guyana’s history of political assassinations.The CBC reported that Persaud added that the feeling only got stronger after the vote when he said another MP told him he would be dead that night.“It was not an idle threat I entertained…Thank God for the advent of cellphones. Too many people were watching internationally and locally,” he told CBC.Persaud added that he did not take any chances and after the sitting, he went directly to the Canadian High Commission in Georgetown where he flew to Barbados and then Toronto.Adding to that, Ramjattan had admitted in January that he initiated the ongoing probe against the party’s expelled Member of Parliament (MP).last_img read more

CONTINUE READING
dyekoypw

AG threatens to sue local media houses

first_img…denies making death threats to judgeAttorney General Basil Williams has refuted what he termed “disrespectful” reports that he had made death threats against Justice Franklin Holder on Thursday during a High Court case against Trade Unionist Carvil Duncan; and he has promised to seek redress in the courts.Williams made this assertion during a press conference on Friday. Referring toAttorney General Basil Williamspublication of the reports as an attack against Government, he has promised to sue local media houses Guyana Times and Kaieteur News, as well as former Attorney General Anil Nandlall.“I think it is a disrespectful act and an attack against this Government!” Williams declared. “They will have to deal with the courts in this matter. I have been collecting all of those allegations that were false and spurious against me, and they must be reckoned with for exemplary damages; because I know how to deal with these newspapers,” the AG threatened. “I’ve spoken to several counsel, and they are in the process of preparing letters to these newspapers, and they would indicate to them that it is a libel — a grievous libel — against the Attorney General by way of his office.”Relating what he said had transpired, Williams said his words were taken out of context. He related that, at the time, he had cross-examined Duncan’s confidential secretary and had afterwards had a discourse with Justice Holder, who was already leaving the bench.“When the judge said that he was going to adjourn, I asked the judge if he couldFormer AG Anil Nandlallallow me one last question. My final question to her was if she (had) made (a) record of every mail she (had) received for Mr Duncan, and her answer was ‘No’.”Williams said what he did was ask the judge, who had just adjourned, whether the witness’s last response to his cross-examination had been recorded by the court. “The judge, to my surprise, said, ‘Mr Williams, you are not in charge of my court’, and I said, ‘Not me, that could be said of Mr Nandlall, who has been trying to control your court’. And he then said to me, ‘Mr Williams, I interpret that to mean that I deliberately did not record the yes answer that you said was given by the witness’.”Williams claimed to have then related an anecdote to Justice Holder about a magistrate who had, in the past, made a similar allegation against him. He said that that magistrate had incorrectly interpreted a statement he had made, and ever since that day, he has been careful with the words he uses in court.“And (I said), ‘Incidentally, that magistrate is dead now,’ and I moved on; and the judge and I continued addressing issues. Mr Nandlall then jumped in…andthereupon, that’s when the judge left the bench,” the Attorney General related.Claiming that Nandlall had been disturbing the court throughout the proceedings, Williams inferred that Nandlall was “under the influence of something.” The AG was adamant that nothing prevented the judge from leaving the bench, and that “the judge doesn’t have to give a date before he leaves the bench.”The legal challenge was filed by Duncan against the attempt to remove him from the Chairmanship of the Public Service Commission, from being a member of the Police Service Commission, and from serving on the Judicial Service Commission.A conflict of facts has since arisen in the various affidavits filed. The Prime Minister contends that his office had served Duncan with a letter dated 29, March 2016 — which he claims was received at the Public Service Commission on April 14, 2016 — calling upon Duncan to show cause why, within fourteen (14) days, he should not be removed from the aforesaid positions.Duncan and his Confidential Secretary, in their affidavits, swore that no such letter had ever been received at the Public Service Commission. They both contend that, indeed, a letter from the Prime Minister’s Office was received on April 14th, 2017; but that letter, addressed to Duncan, had informed him of a Public Service Conference which was to be held in London, England later that year.In order to resolve this conflict in the affidavits, Justice Holder has ordered that persons who swore to the affidavits be crossed-examined. Attempts to make contact with Justice Holder were futile.ReiterationMeanwhile Nandlall, in a press release on Friday, reiterated that Williams had made the statements previously attributed to him. “His reckless utterances to Justice Holder were witnessed by at least two State Counsel of the AG’s Chambers; Carvil Duncan; Duncan’s Confidential Secretary; Diana Persaud; Rajendra Jaigobin; Attorneys-at-Law; members of the press; two Marshals of the High Court; my Personal Assistant, Shivun Hutson; and a few persons who are unknown to me. These persons were all in the Court”, Nandlall contends. “Yet, Mr Williams barefacedly denies that he (had) made the statements published by the press, which caused the Honourable Justice Holder to walk off the Bench, in disgust and possibly fear, without adjourning the matter.”Noting that the Attorney General is threatening to go to Court, Nandlall has challenged him to do so. The former Attorney General has said that he has no doubt he would be vindicated.last_img read more

CONTINUE READING
dyekoypw

Trackers open season with 1-2 record

first_imgPlaying three games in three days is difficult on any hockey team at any level, and doing it to start your season is even more challenging. The N.E. B.C. and Yukon Trackers began their year with three games over the weekend, and came away with a 1-2 record over that stretch.Friday night the team officially dropped the puck on their season with a game against the Strathcona Warriors. The Trackers opened the scoring in the game, but wound up tied at one after 20 minutes.The Warriors took a 2-1 lead early in the second, but the game was tied once again three and a half minutes later. Late in the second Strathcona took the lead again at 3-2.- Advertisement -The score held through most of the third until the Warriors added a fourth marker with two seconds left in the game.Saturday’s game against the Northeast Panthers resulted in the Trackers getting their first win of the young season. They fell behind early after the Panthers opened the scoring 1:21 into the game, but the Trackers tied things up with 6:20 to go in the opening period.N.E. B.C. took the lead in the second but it was short lived as the Panthers got their second goal of the game to tie things less than two minutes later. The Trackers took a 3-2 lead with 4:09 left in the frame. There was no scoring in the third as they would hold on for the win.Advertisement On Sunday it looked as through the Trackers would be in good shape to come away with a 2-1 record from the weekend, however they ran out of gas as the game against the St. Albert Crusaders neared its conclusion.The Trackers held a 3-1 lead heading into the period, but six goals from St. Albert resulted in a final score of 7-4.Next on the league schedule the team will skate with the Fort McMurray Barons October 17 and 18.last_img read more

CONTINUE READING
dyekoypw

Messi out with injury ahead of La Liga restart

first_img0Shares0000Barcelona’s Argentinian forward Lionel Messi is out of action with a calf injury 10 days before the start of the new season © AFP / Josep LAGOBARCELONA, Spain, Aug 5 – Barcelona captain Leo Messi is out of action less than two weeks ahead of the opening of La Liga season after injuring his right calf in training on Monday.“I wanted to get started and unfortunately I had a mishap during the first training session which will keep me out of action for a while,” the five-time Ballon d’Or winner posted on Instagram. The Argentina star has already been ruled out of the team’s trip to Florida for a one-off friendly against Napoli in Miami on Wednesday.“Tests carried out have diagnosed a grade 1 calf strain,” the Spanish champions said in a statement, an injury that can require around two weeks of recuperation.“Messi will remain in Barcelona and will now not travel to the USA for the club’s tour. His availability to come back to action will be dictated by his recovery from the injury.”Messi, who was at the Camp Nou on Sunday for the squad presentation ahead of the match against Arsenal, said he was sorry to be missing the Florida trip.“I wanted to be with the team and with the people who follow us in the US,” said Messi.“This time it will not be possible but we will meet again soon. I kiss you all.”The club open the new La Liga campaign at Athletic Bilbao on August 16.0Shares0000(Visited 21 times, 1 visits today)last_img read more

CONTINUE READING
dyekoypw

Reports – Juventus set to beat Manchester United in race for ex-Chelsea star

first_img Kevin De Bruyne in action for Wolfsburg Juventus are ready to go all out and beat Manchester United to the signing of Wolfsburg star Kevin De Bruyne, according to reports in Italy.The Belgian has been one of the best players in Europe this season, scoring 15 goals and laying on 27 assists in all competitions.It has led to clubs queuing up for the former Chelsea man’s signature and Wolfsburg slapping a £30m price tag on the midfielder’s head.That amount is in reach for the likes of Manchester United and Paris Saint-Germain, who are both keen on signing the 23-year-old.However, according to Gazzetta dello Sport, Juventus have also not baulked at the high asking price and are ready to make a move for De Bruyne.The Italian club have scouted the Belgium international several times this season and see him as the ideal man to bolster their squad for next season. 1last_img read more

CONTINUE READING
dyekoypw

Watford 1-2 Manchester City: Sergio Aguero grabs late winner to sting unlucky Hornets

first_img Sergio Aguero celebrates his late winner 1 Sergio Aguero got the winner as Manchester City scored twice in three minutes to earn a late win away to Watford.After a tame first half Ben Watson saw his corner flicked in by Aleksandar Kolarov to give the host a deserved lead.However, with only ten minutes remaining City kicked into life as Yaya Toure and Aguero scored in quick succession to reverse the result.City’s first win away from home since September means Manuel Pellegrini’s men lurk only a point behind Leicester and three behind Arsenal.The conditions were poor at Vicarage Road with the deluge of rain causing players to slip and slide everywhere but it was the hosts who settled the quickest with Almen Abdi fizzing a shot just wide of Joe Hart’s upright.In form striker Odion Ighalo had an opening for the Hornets when he ran into the City penalty area but Nicolas Otamendi recovered well to make a vital block.Ighalo was determined to add Manchester City to the list of his victims this season but was again denied, this time Hart saving well after Otamendi was turned on the edge of the area.It took Pellegrini’s side 30 minutes to get a clear-cut chance of their own when Heurelho Gomes first denied Fernandinho before Raheem Sterling ballooned the ball over the crossbar.City came out quickly after the break with Fernandinho coming close to breaking the deadlock with a bullet header that just went over the target.Watford did manage to score from their first corner of the half as Watson’s cross looked to have gone in directly, but replays showed the ball took a slight nick off the head of Kolarov.Toure had a chance to pull a goal back ten minutes later but as the ball reached the big Ivorian he leant back too far and spooned the ball over the bar.Kevin De Bruyne was the next to try his luck at the Watford goal after a neat interchange with the anonymous Aguero but Gomes got down well to keep the Belgian out.Etienne Capoue came within inches of doubling the Hornets’ lead as he bundled through two challenges before volleying the ball agonisingly wide of the post.And that miss proved costly as Toure – who had been poor all game – popped up at the near post to thump home Silva’s corner with a powerful volley.Two minutes later and City found themselves ahead when Aguero turned in Bacary Sagna’s perfectly whipped cross.The quick double salvo from City mean Watford missed the chance to move level on points with Tottenham in fourth.last_img read more

CONTINUE READING
dyekoypw

Man United make £130m double striker swoop, Tottenham target PSG star? GOSSIP

first_img Transfer rumours and paper review 1 Here are the top transfer-related stories in Saturday’s newspapers…Manchester United are hopeful of doing a double striker deal for Real Madrid’s Alvaro Morata and Torino’s Andrea Belotti in the next two weeks. They have agreed terms with Spanish striker Morata and are looking to seal a £60m deal. They have also submittied a bid of around £70m for Italian hitman Belotti. (Independent)Tottenham are interested in Paris Saint-Germain right-back Serge Aurier as potential replacement for Kyle Walker. Manchester City retain an interest in England defender Walker and have not been put off by the north Londoners’ £60million asking price. (Daily Mirror)Chelsea boss Antonio Conte is set to reignite a move for Juventus defender Leonardo Bonucci as he seeks defensive reinforcements. Bonucci, 30, has worked with Conte both at Juve and with the Italian national team. (Daily Mirror)Chelsea will have to pay Juventus a minimum of £52m to sign Alex Sandro. Juventus aren’t keen to lose the 26-year-old, who has emerged as a possible candidate to strengthen the left wing back slot at Stamford Bridge alongside Ryan Bertrand and Benjamin Mendy. (London Evening Standard)Arsenal are fighting to keep starlet Chris Willock with Manchester City circling as his contract expiry nears. As his contract nears the last few weeks, the young forward must choose between staying at Arsenal and moving to Pep Guardiola’s side. (The Sun)West Ham want to sign £17million Chelsea forward Bertrand Traore. The Irons are big admirers of the 21-year-old who reached the Europa League final with Ajax and want to secure a loan deal. (Daily Mirror)Chris Wood is a £15million target for Premier League new boys Huddersfield. And Terriers boss David Wagner is the surprise favourite to win a seven-club chase for the Leeds hit-man’s signature. (The Sun)Liverpool starlet Joe Gomez is a target for new Premier League rivals Brighton. The 20-year-old England youth-team star only moved to Anfield in 2015 for £3.5million but a knee injury has limited his first-team contribution. (The Sun)And here are the latest talkSPORT.com headlines…?Tony Bellew has joked he’ll make his next fight against whichever manager lures Romelu Lukaku away from Everton – unless it’s Antonio Conte!AC Milan have turned their attentions to Nikola Kalinic after being priced out of moves for Chelsea striker Diego Costa and Manchester United target Andrea BelottiSevilla are hoping to complete a double swoop for Manchester City pair Jesus Navas and NolitoNew Inter Milan manager Luciano Spalletti has revealed he will consider raiding his old club Roma for Radja Nainggolan, amid links with both Manchester United and ChelseaEverton and West Ham are among the clubs hoping to sign Chelsea striker Bertrand Traore this summerlast_img read more

CONTINUE READING
dyekoypw

DDTV: VIDEO OF DONEGAL FANS CELEBRATING IN CANADA!

first_imgTHOUSANDS of ex-pats tuned into donegaldaily.com and RTE TV online on Saturday to keep up to date with Donegal’s All-Ireland Football Championship quarter final clash with Kildare.At one stage Donegal fans were on this site from an incredible 47 different countries. And celebrations took place into every hour of the day – depending on where those fans were in the world!Francie Gallagher followed the game from Queensland, Australia. He told us: “The game was on at 7am. I am so proud; I walking around Oz in my Donegal top today.”In a room in Vancouver, Canada, a group of Donegal fans watched the game online. Watch this video as they celebrate…..DDTV: VIDEO OF DONEGAL FANS CELEBRATING IN CANADA! was last modified: July 31st, 2011 by gregShare 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 v kildaredonegaldailyVancouver Donegal fanslast_img read more

CONTINUE READING
dyekoypw

GOLF NEWS: OTWAY CLUB NOTES

first_imgYou know winter is not far away when the turkey scrambles have kicked off at Otway.Although Dessie hasn’t actually won his Christmas bird yet for himself, his coaching tips in putting and approach shots, and all his hard work on getting Arthur Morrison’s game into shape, has secured the turkey and the ham for Arthur already with only two weeks of the scrambles passed.In week one Arthur was ably assisted by Gerry McGivern, Martin Duffy and Paul Murray with a very impressive score of eleven under par. Congratulations to all four, and again to Paul Murray on his new addition to the family. Paul will have to secure at least one more bird to cater for his ever expanding family. In week two it was the turn of young guns Sean Duffy and Gary Hegarty to show their skills and along with Arthur, went on a run of five birdies in six holes on their way to secure victory with a score of nine under, three shots clear of the field. Well done to all, but there’s plenty of time for the rest of us with names in the clubhouse again by 12.30 this Sunday for a 12.45 tee off. GOLF NEWS: OTWAY CLUB NOTES was last modified: October 16th, 2012 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:OTWAY GOLF CLUB NOTESlast_img read more

CONTINUE READING