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thursday, april 7, 2016
guyanatimesgy.com
Authentic Amazonian Irene Bacchus-Holder made of her beloved local woods and semi-precious stones as she continues to grow her business and move from strength to strength, inspired by the Creator. She says that the satisfaction that you gain from creating and selling your products beyond the financial aspect and
I
rene Bacchus-Holder of Amazon Authentics has taken the art of pyrography (decorating wood or leather by burning a design on the surface with a heated metallic point) in Guyana to new levels. The UNCTAD/EMPRETEC International Women in Business Award 2008 finalist turned a passion for creating art on everyday objects like jewellery boxes and kitchen wares which she gave to family and friends into a thriving business that showcases the beautiful woods of Guyana and her designs – with customers around the world. Although the business, which she started under her house, targets the export market given the positive
response received at international trade shows in the Caribbean and South America, North America, and Europe, the Amazon Authentics shop at Robb and Camp Street is filled with exquisite things for everyone to enjoy. Amazon Authentics products are made of very beautiful, rare (not endangered) species, harvested when they are discarded by commercial loggers, the company said on its website ww.amazonauthentics.com. The artist, who hails from Richmond Hill, Linden, has long been sustainability conscious before it became the buzzword it is today. Bacchus-Holder recently launched a line of jewellery
the appreciation they engender over the years as well as recognition for your contribution after “an extended period, maybe 25 years” are what defines success for her. The ‘artrepreneur’ noted that persistence and discernment which she described as the
ability to assess people and the market are the most important traits an entrepreneur can have. Her advice to wouldbe business owners: “Think carefully of what you want to do then do a feasibility study. Plan and be prepared for the hard road ahead, the sleepless nights, the
failures, how to cope when that happens. Success is there but it is a fierce battle to get there. Look around for those persons who will help. They are there. Seek them out. Then there are those who will pull you down. Be smart and recognise them for such. Maybe you cannot
get rid of them but seek ways in which you can box them out.” In reflecting on the lessons she has learnt along the way, she declared, “Strength comes from within. When everyone fails you, look within yourself. You can do it if you try hard enough. Life is a struggle
and you have to devise ways in which you can come out on top.” Contact: 50 Robb St, Lacytown, Georgetown, Guyana 444-6162 facebook. com/amazonauthentics
Business News US readies bank rule on shell companies amid “Panama Papers” fury
T
he US Treasury Department intends to soon issue a long-delayed rule forcing banks to seek the identities of people behind shell-company account holders, after the “Panama Papers” leak provoked a global uproar over the hiding of wealth via offshore banking de-
vices. A department spokesman said on Wednesday the rule would “soon” be turned over to the White House for review and issuance, but did not confirm any timetable for the initiative, which has taken years. Governments around the globe have launched
probes into possible financial wrongdoing after 11.5 million documents from the Panamanian law firm Mossack Fonseca, nicknamed the “Panama Papers,” were leaked to the media and reports emerged Sunday. Mossack Fonseca has said it was the victim of a computer hack, and that it
has consistently acted appropriately. The papers offer “validation for those who have been screaming for a decade” about the need for financial institutions in the United States and else-
Market statistics Cambio Rates
Gold Prices – Guyana Gold Board
Bank of Guyana Cur
Buying
Selling
Fixed as at April 6, 2016 Calculated at 94% purity
U.S.
$1236.25
$158.22
Gross
$236,686
$205.98
$208.44
Net
$220,118
$233.44
$236.43
GBP
$288.95
$292.60
CAN
$156.41
USD EURO
Indicators as on April 6, 2016 Indicators
US$ per barrel
Crude Oil
$37.75
Price
Change %
+4.93
USD
Change %
Rough Rice
$213.40/ton
London Sugar
$419.40/ton
+0.31 -0.06
Live Spot Gold
USD Per Once
Bid/Ask
$1224.90
$1225.90
Low/High
$1216.80
$1232.80
Change
+2.60
Business Concept – Niche marketing
+0.21%
Concentrating all marketing efforts on a small but specific and well defined segment of the population. Niches do not ‘exist’ but are ‘created’ by identifying needs, wants, and requirements that are being addressed poorly or not at all by other firms, and developing and delivering goods or services to satisfy them. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond. Also called micromarketing. (Business Dictionary)
where to address risks of money laundering, terror finance and other crime by identifying people who clandestinely control legal entities, former Treasury official Chip Poncy told Reuters. (Reuters)
Tips for negotiating with your creditors By Lea Nathan
D
uring tight economic times, both individuals and businesses struggle to keep their heads above water financially. However, many people and companies alike do not know they can successfully negotiate with bill collectors and creditors to reduce payments and make arrangements that work for both parties. The following tips from the Business Dictionary will give you successful negotiation strategies for a win-win solution. Take proactive action As soon as you know you will have problems making any payments, talk to the credit company to make a payment arrangement before they send the bill to collections. You will probably harm your credit by making late payments, but most companies hope to avoid sending the bill to collections as most charge a percentage of the amount collected. Collection accounts cause your credit score to drop even lower than if the original agency keeps working with you. Pay what you can Look at your budget realistically and come up with a plan to pay your bills. Remember that a budget is a tool to serve you and help you stay on track financially. Only promise to pay what you can. Credit companies take a dim view of breaking payment agreements. It’s almost always better to negotiate a lower amount and pay the company more if you are able to do so. Tell your story As you talk about your situation, remain calm. You need to share some details of your story without drawing out the explanation. Tell the truth about your difficulties and explain what you plan to do to work out your issues. If you start to become angry or overly emotional, tell the collector you will speak with them later. Let them know you will record the conversation if needed.
Investors' guide
Wall Street rises with healthcare, oil rallies
U
S stocks jumped on Wednesday, bolstered by gains in healthcare shares after the collapse of the US$160 billion merger of Pfizer and Allergan, and by a rise in energy shares. Minutes from the most recent Federal Reserve meeting suggested the Fed was unlikely to raise interest rates before June. US drugmaker Pfizer Inc and Ireland-based Allergan Plc called off their merger after new US Treasury rules aimed at curbing tax-cutting inversion deals. News of the merger’s breakup boosted the healthcare sector on hopes that the pharmaceutical giants could turn to smaller targets. The S&P healthcare index gained 2.7 per cent, while the Nasdaq Biotech Index jumped six per cent. Shares of Pfizer rose five per cent to US$32.93 and gave the biggest boost to the S&P 500, while Allergan was up
3.5 per cent at US$244.74. “I guess the feeling is Pfizer will now look for a new target,” said Stephen Massocca, chief investment officer, Wedbush Equity Management LLC in San Francisco. But, he said, “the rally in healthcare is a little counter-intuitive, given the political climate seems to be negative for big pharma right now”. The Dow Jones industrial average was up 112.73 points, or 0.64 per cent, to 17,716.05, the S&P 500 had gained 21.49 points, or 1.05 per cent, to 2066.66 and the Nasdaq Composite had added 76.78 points, or 1.59 per cent, to 4,920.72. Crude oil jumped after data showed an unexpected draw in US stockpiles last week, boosting shares of energy companies. The S&P 500 energy index rose 2.1 per cent. The day’s rally, which included gains in all but two sectors, followed two days of
declines in the S&P 500. The index had rallied 13 per cent in the previous seven weeks, thanks to stabilising oil prices and reduced concerns about China’s economy. Investors will soon turn their attention to first-quarter S&P 500 earnings, which are estimated to be down 7.4 per cent from a year ago, according to Thomson Reuters data. Some strategists see further gains in the market if companies are able to handily beat such low earnings expectations. Federal Reserve policymakers debated whether they might hike rates in April, but “a number” of them argued headwinds to growth would probably persist, with many arguing they should be cautious about raising rates. The S&P 500 posted 12 new 52-week highs and no new lows; the Nasdaq recorded 35 new highs and 21 new lows. (Reuters)