Joseph Mariathasan: What drives Chinese growth?

first_imgCredit: Manuel JosephShanghaiThe fifth – and perhaps one of the most significant mega-trends is education. Education has been prized in China since ancient times, but in the past decade the government has been focused on developing skilled human capital on an unprecedented scale.The quality may not always be the highest, but it is improving. Many of the world’s leading technology companies have set up research and development centres in China. As Woetzel and Towson say in their book, everything is in place in terms of graduates, educational and corporate structures, and functioning research processes. The driving economics are powerful, so quality and innovation should come naturally.The final megatrend is the Chinese internet. China has 700m people communicating with each other on the net. WeChat is a combination of Facebook, Whatsapp and a host of other social media apps.China is also becoming a leader in artificial intelligence, much of which is based on internet applications.China’s importance to the global economy is now eclipsing that of the US. Understanding what drives China’s growth is a pre-requisite for any understanding of the global economy today.See the November issue of IPE for an in-depth Special Report on China. Qianhai, the business district of the city of ShenzhenThere has been a deliberate shift in location from the expensive coastal areas towards inland cities such as Chengdu. Chinese manufacturers win by low costs and that is often in high-tech areas.Western companies tend to focus expensive healthcare equipment on the major cities only. Their Chinese competitors will produce simpler machines, aimed at second- and third-tier cities enabling them to build scale while their products get better and better.The third mega-trend is still a work in progress: the rise of the Chinese consumer. Middle-class incomes in Asia will dwarf everything else and will be the biggest economic growth engine in the future.Over the past 30 years, 300m people have joined China’s middle class. While in the past they have focused on value for money, that is changing as consumers look at more emotional needs – with an emphasis on branded goods. Indeed, one Chinese friend of mine tells me his family love coming to London as they can buy designer clothes cheaper than in Shanghai or Shenzhen.The fourth is capital. China has huge amounts of it, with a high rate of savings.This is not to say that capital is always deployed in the best manner. The banking sector is dominated by China’s big four state-owned banks, which function as an arm of the government. That means loans are not always made on the basis of economic criteria.State-owned enterprises are supported by the banking sector, but private smaller companies often find it difficult to access expansion capital, whether in the form of debt or equity. The problems associated with a largely state-driven banking sector have given rise to a large shadow banking system with wealth management products of all types – and not always with enough transparency for savers to appreciate the risks they may be running. The second is Chinese manufacturing scale. Woetzel and Towson emphasise that what differentiates China is not just its history as an outsourced manufacturer for Western companies, but the sheer scale of manufacturing driven by the size of its domestic consumer base.That means it has such large economies of scale that it can outspend its competitors on research, factories, fixed assets, marketing and other fixed costs, which creates a stronger and stronger competitive advantage over time.As the authors point out, China produces 80% of the world’s air conditioners, 90% of personal computers, 75% of solar panels, and 70% of mobile phones.center_img China’s president Xi Jinping gave a three-and-a-half hour opening speech at the start of the Communist party’s 19th Congress last week. The party constitution has been revised to include a reference to “Xi Jinping thought” to rank alongside the thoughts of Deng Xiaoping and Mao Zedong himself.China’s phenomenal growth over the past few decades has not been a function of the policies of any one leader. Deng may have been the instigator of China’s move towards essentially a capitalist economy, but China’s rise to wealth and power has been a function of many significant trends.For those seeking to understand the China phenomenon, a good place to start would be by reading The 1 Hour China Book by Beijing-based academics Jonathan Woetzel and Jeffrey Towson. Their assertion is that six mega-trends are key to the China story. For newcomers to China, it is worth appreciating what these are.The first is urbanisation. China has a population of around 1.4bn. When the Communists took over in 1949, China was predominantly a rural economy. Now, over 56% of the population is urban and that percentage is growing rapidly at an average of 18.5m people every year. It is through urbanisation that China has lifted the mass of its population out of poverty.last_img read more

Norman E. Weber, 90

first_imgNorman E. Weber, 90, Greensburg, passed away on Sunday, May 5, 2019 at the Heritage House Nursing Home in Greensburg. Born, January 7, 1929 in Greensburg, Indiana, he was the son of John Peter and Lillian Augusta (Wiedeman) Weber.  Norman served in the Army during the Korean War.  He was Sergeant with the 5th Army in Korea.  He received several medals, including the Korean Service medal and the Expert Rifle medal.  Norman farmed most of his lifetime.  He drove a school bus for over 30 years.  He was a member of the First Church of God in Greensburg.  He loved the outdoors, hunting, fishing, gardening, and camping.  He collected miniature school buses.  He loved woodworking and making things for his grandchildren and great grandchildren.  He also loved to show and collect antique tractors. He was married to Lois A. Vanderbur on April 13, 1952 in Letts, Indiana and she survives. He is also survived by one son, Larry E. (Rose) Weber, Greensburg; four daughters, Debbie (Donald) Murphy, Anderson, Susie (Sonny) Cupp, Greensburg, Sallie Schoettmer, Troy, OH, Becky (Gary) Lee, Greensburg; twelve grandchildren, Joe (Kate) Weber, Chris Weber, Corey Weber, Kylie (BJ) Galbreth, Heather (Seth) Garrett, Lindsey (Justin) Bahr, Jeff Turner, Emily (Christopher) Sentman, Daniel Schoettmer, Andrea Lee, Michelle Lee, Alex Lee; 16 great grandchildren. He was preceded in death by his parents; brothers, Herbert, Arthur, and Jack Weber; sisters, Nellie Grow, Ethel George, Dorothy Powers, Olive Spiegel. Visitation will be held on Wednesday from 4 to 7:00 p.m. at the Porter-Oliger-Pearson Funeral Home in Greensburg.  Visitation will also be held on Thursday from 9 until the time of the service at 10:00 a.m. at the First Church of God, 731 N. Ireland St. in Greensburg with Rev. Terry Canfield officiating. Interment will be held in the Smyrna Lutheran Cemetery. Memorials may be made to the Diabetes Foundation, First Church of God, or to the Honor Flight Dayton, Inc., 200 Canary Ct., Enon, OH 45323. Online condolences can be made to the family at www.popfuneralhome.comlast_img read more

T&T national footballers want coach Stephen Hart reinstated

first_imgPORT OF SPAIN Trinidad, (CMC) – Less than two months after his sacking as national coach, Trinidad and Tobago men’s senior squad want Stephen Hart reinstated.In a shocking development, Hart has emerged as the squad’s favourite to take over, following the dramatic resignation of his replacement, Belgian Tom Saintfiet, last Tuesday after just five weeks and four games in charge.Speaking on behalf of a group of 23 national players, spokesman Jan-Michael Williams said they had been at fault for Hart’s sacking last November and should have taken more responsibility for their own game.“In the players’ opinion, I think we obviously let him down, I think we should have operated in a more professional manner,” the goalkeeper told the Newsday here.We think obviously he is the best man for the job or one of the best candidates for the job and we will like to get him back on board.”Hart was sacked by the local FA last November after three years in charge, following T&T’s poor start to the CONCACAF final round of qualifying for the 2018 World Cup in Russia.They went down 0-2 to Costa Rica at home and then lost to Honduras 1-3 away in San Pedro Sula.He was replaced by Saintfiet in early December but the 43-year-old won just one of his four games before tendering a shock resignation, citing lack of support from TTFA as one of his main reasons.Without a head coach two months before the next round of World Cup qualifiers, the group of 23 also sent a letter to the TTFA with their suggestions for a replacement.According to the Newsday, Hart tops the list which also comprises W Connection’s Stuart Charles-Fevrier, former England defender and experienced Terry Fenwick and former national player and local coach Angus Eve.“We (the players) KNOW it is not our decision to make, neither is it our place to make such demands, but we – 23 current players – have pooled our knowledge, resources and ideas together to come up with a few names for your immediate consideration,” the letter said.“We can all agree that we the players have interacted with these names at some level, so we can safely say our knowledge can be used in this regard.“We pledge our full support regardless of who is selected to the position, even if it is a person or persons outside of this list, as we know that we the players play an integral part in helping the team to qualify for the 2018 World Cup.”last_img read more

Sparks to fly as Petra/GT Beer Futsal enters quarter-final stage

first_imgTHE top four of the eight in the GT Beer/Petra Futsal tournament will be in action tonight as the tournament enters the quarterfinals at the National Gymnasium.Sophia will take on Tucville in the first of the match-ups in what is expected to be a tense affair, with both teams boasting quality finishers in front of goal as well as the ability to work the ball around the floor.Bent Street, on the other hand, should have the advantage over West Front Road, considering the tenacity with which they played in the group stage and their ability to unsettle teams. West Front Road, however, should not be taken lightly and one slip from Bent Street could prove costly.The third quarter-final pits ¬Back Circle against Broad Street Ballers. This is expected to be a crowd-puller as both sides have a considerable following in their communities.Sparta Boss will also be one of the more supported teams on the night as they play the last quarter-final match against North East La Penitence.Prior to the quarterfinals, Green Ice Taxi will take on Pretty Posse while Customs play Upper Level in two exhibition fixtures from 19:30hrs.last_img read more

Finger pointed at Infantino after FIFA ethics heads ousted

first_imgBy Simon EvansMANAMA, (Reuters) – FIFA has given no explanation for ousting the two heads of its Ethics Committee, but the move has led some to point the finger at president Gianni Infantino and left those hoping for reform at world football’s governing body feeling uneasy.FIFA’s decision not to renew the mandate of chief ethics investigator Cornel Borbely and chief ethics judge Hans-Joachim Eckert – the men who banned former FIFA head Sepp Blatter and Michel Platini from the game – came at Tuesday’s meeting of its ruling council.None of the council members had time to explain the decision to the media on their way out of the meeting, instead hurrying onto a bus to go for dinner at a five-star hotel in the Bahraini capital.There some spoke off the record about an administrative hiccup, with the Ethics heads having forgotten to put forward their nominations, while others suggested the pair were too costly for the organisation. There was also talk that the Ethics Committee was seen as too ‘Euro-centric’. Eckert is German and Borbely is Swiss.These arguments were dismissed by the pair themselves, however, when they spoke to media yesterday in a sparse room overlooking the venue for FIFA’s congress today.They warned that the move would lead to valuable knowledge and experience being lost as their replacements, Colombian investigator Maria Claudia Rojas and judge Vassilios Skouris of Greece, will start from scratch on “several hundred” cases.FIFA’s list of nominations for committee heads also indicated the removal of Miguel Maduro, a former government minister in Portugal, who had been head of the Governance Committee, which had a key role on reforms.Rumours of the changes had been circulating for a while but, typically of the FIFA world, had been dismissed as gossip just a few weeks ago.In late March, FIFA general secretary Fatma Samoura told Switzerland’s Tages-Anzeiger newspaper there was no basis to reports that Borbely and Eckert would be axed.German FA president Reinhard Grindel, a member of the Council, said he had received a similar message when he checked with Samoura’s office on Monday this week if anything was planned against the Ethics Committee heads.“I asked the day before at the office of the General Secretary if there were any announcements that Borbely and Eckert will be displaced and they said no, they had no information.”Nevertheless, Grindel, who defended his compatriot Eckert at the meeting, had no doubt who was behind the decision.“You have to ask Infantino why he made this proposal,” he said. “It is a decision of the president.”But Infantino himself has been silent on the reasons behind the moves.“The concern is that it is a purge for reasons of self-interest from the FIFA president,” said reform campaigner Jamie Fuller of campaign group ‘New FIFA Now’ who compared the Swiss to his compatriot Blatter.“The decisions of the Council and so many actions of Mr Infantino’s administration are no more trustworthy than his predecessors,” he said.On the other hand, at least one supporter of Infantino defended Tuesday’s decision, with CONCACAF’s Canadian president Victor Montagliani rejecting Borbely and Eckert’s view that their replacement marked the death of reforms.“With all due respect to their opinions I don’t believe that at all …. Yes, the ethics committees are very important but it’s not like we replaced them with non-independent people,” he said.“It’s been way overblown from a hype perspective. Maybe it’s my Canadian background; I’m a little uncomfortable when judges start speaking in the media, either during their tenure or even after their tenure. I think that is quite unprofessional, quite frankly,” he said.Montagliani was talking after a press conference promoting the bid of three CONCACAF members – the United States, Canada and Mexico – to host the 2026 World Cup.The men in charge of FIFA’s ethics campaign may be out of a job, but the business of football’s global body continues.last_img read more

Martial plays down move from Old Trafford

first_imgAccording to reports the French forward is considering a move to PSG after an apparent falling out with manager Jose Mourinho.Martial has since responded to these claims on Twitter, simply saying: “Don’t listen the papers it’s wrong thanks.”The 21 year old has found games hard to come by this season, featuring just once in the league so far in 2017.last_img

LeoVegas launches ‘LeoVentures’ strategic investment unit

first_img Kambi takes full control of LeoVegas sportsbook portfolio August 26, 2020 Submit Share StumbleUpon Related Articles Björn Nilsson: How Triggy is delivering digestible data through pre-set triggers August 28, 2020 Seeking to target accelerated corporate growth and industry innovation, Stockholm-listed LeoVegas Group AB has announced the launch of its ‘LeoVentures’ investment subsidiary.The new strategic division will be led by LeoVegas Co-founder Robin Ramm-Ericson, who takes up the position of Managing Director for LeoVentures. Ramm-Ericson will remain as a senior executive of LeoVegas advising corporate leadership and management.Developed as an investment unit, LeoVentures will target growth opportunities both internally and externally for LeoVegas as the company target multi-market growth within regulated jurisdictions.Current projects under the LeoVentures domain include; live casino games provider ‘Authentic Gaming’, next generation card games developer ‘21 Heads-up’ and player community ‘LiveCasino.com’.“The LeoVegas Mobile Gaming Group strives to be the most innovative, entrepreneurial and fastest growing company in our industry. To strengthen this momentum, we give increased focus to our venture business IMP (Independent Mobile Productions), and at the same time change the name to LeoVentures.” Commented Gustaf Hagman CEO of LeoVegas Group. “My co-founder Robin Ramm-Ericson now takes the role of Managing Director for LeoVentures, leaving the CXO role in LeoVegas’ executive management team, and remains as senior executives in the Group.”The creation of LeoVentures was announced during LeoVegas’ Q3 update, in which the firm announced that it had expanded it’s UK online gaming footprint by acquiring Malta-based operator RoyalPanda.com for an initial purchase price of €60 million.Further focusing on innovation and corporate development, LeoVegas Governance has announced that it is recruiting for a Chief Product Officer (CPO) to be part of its executive leadership team, TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Sharelast_img read more

Clippers owner Steve Ballmer pays players a visit before open practice

first_imgThe Nuggets’ first two preseason games – both victories in Southern California against the Lakers – were something to write home to Denver about: The first was a blowout, the second a comeback from 18 points down.Back in Denver last week, the Nuggets sent out their starting five for the first time but had a tough time in their tuneup against Australia’s Perth Wildcats. The second unit buoyed Denver in its 96-88 victory as standout center Nikola Jokic shot just 1 for 5 from the floor and Paul Millsap drew two technical fouls and was ejected.Rivers said he was unsure what lineup he would send out Tuesday, in the preview of their regular season-opener on Oct. 17 at Staples Center.He said he’d likely hold out a couple of players again, and he thought Milos Teodosic, who has missed every preseason game with an ailing hamstring, possibly could play, although he would wait to see how the guard felt after Monday’s practice. Luc Mbah a Moute, who was sidelined with a strained calf against the Lakers, also was expected to remain sidelined.COACH PATThere was no way Shai Gilgeous-Alexander could, on the spot, pick out a particular pearl of wisdom that fellow guard Patrick Beverley dished during Saturday’s 103-87 victory over the Lakers in Anaheim. Clippers vs. Mavericks Game 5 playoff updates from NBA beat reporters LOS ANGELES — Clippers owner Steve Ballmer was in the house to greet the 5,000-plus fans who RSVP’d for his team’s open practice Monday evening at the Galen Center on USC’s campus.Before that, the former Microsoft CEO delivered a message espousing grit to the Clippers players, who host the Denver Nuggets in their fourth of five preseason games on Tuesday at 7:30 p.m. at Staples Center.“I tell him all the time it’s good for him to get around the guys,” Coach Doc Rivers said of the richest owner in America’s major sports (with a net worth of $43.5 billion.) “I think that’s important for him. He enjoys it, the players enjoy it, you know he’s done pretty well in his life so he has a pretty good message.”Rivers’ message to his players is for them to just keep doing what they’re doing: “Just keep growing.” Preseason victories don’t amount to much, but he said he appreciated his squad figuring out ways to win, including overcoming a poor shooting night Saturday to defeat the Lakers 103-87. “He doesn’t stop talking,” Gilgeous-Alexander said. “He’s always talking defensively, he always has something for us.”Beverley even talked defense with a reporter from TMZ in July, telling the tabloid news site that his “Clippers, when we’re healthy” can beat anyone. “If the Clippers are healthy, we’re fine. … We got the team we have and we’re excited. We have two of the best defensive players in the NBA – in history, to ever play, that’s like two Gary Paytons playing with each other.”After missing all but 11 games last year with a knee injury, Beverley came out with a season’s worth of pent-up energy in the Clippers’ first two preseason games. Sure of Beverley’s readiness, Rivers on Saturday rested the 30-year-old (along with forward Danilo Gallinari) – but it wasn’t like Beverley took the night off.“Coach Pat?” Rivers said. “He was great.”Beverley was in and out of his seat on the bench all game long, dispensing advice, cheerleading, and sharing opinions – with Clippers and Lakers alike.“He’s one of the most vocal guys on the team,” forward Tobias Harris said. “I consider him our vocal leader, someone who is always expressing his voice, to help guys, and just teach guys.”And Gilgeous-Alexander is doing his best to take it all in, it seems.“He’s a really good leader,” the rookie said. “Communicates a lot and helps all of us out on the floor.”GETTING ’ROME GOINGThe Clippers really want to get rookie guard Jerome Robinson – who last season led the ACC in scoring at 20.7 points per game – to be an offensive spark when he’s on the floor this season.Related Articles For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 center_img Clippers hope they can play to their capabilities, quell Mavericks’ momentum Newsroom GuidelinesNews TipsContact UsReport an Error Doc Rivers continued to stress it, before and after Saturday’s game – in which the 13th pick in this summer’s draft played 16 minutes and went 1 of 5 from the floor. His lone basket was a beauty: Robinson pump-faked his defender into the air, stepped back and drained a 3-pointer.“I’ve seen Jerome in practice make strides in different areas,” Harris said. “The level of talent he already has, it’s a matter of confidence and continuing to get comfortable.”“He’ll get it,” Rivers said. “Loved the pump-fake three. He can shoot the ball. I was an awful shooter and coaches still had to tell me to stop shooting; he’s a great shooter and he’s got a coach to tell him to shoot. It’s amazing, but he’ll get it because you could see the improvement tonight.” Kristaps Porzingis ruled out as Clippers, Mavericks set for Game 5; Follow for game updates last_img read more

Legislature Will Respect Supreme Court’s Decision

first_imgA co- chair on the Judicial Committee of the Senate has vowed the 53rd National Legislature would respect any decision by the Supreme Court regarding the controversial Central Bank of Liberia (CBL) amended bill.Cllr. Fredrick Cherue, Senator of River Gee County, noted that the High Court is the final arbiter of the law in the country, as such, they would not do anything to disrespect its decision.“The Supreme Court is the final arbiter of the law and we need to respect it. This is why we responded to its calls,” the River Gee County lawmaker said.“But, if it had been a political one, we wouldn’t have attended its calls. Whatever the result is we will accept it. We will adjust ourselves and we will bow to it,” Cllr. Cherue added.He gave the National Legislature’s assurance on Wednesday, February 26, just minutes after a conference with Associate Justice Jamesetta Wolokollie in Chambers at the Temple of Justice.The conference was intended to determine whether the High Court should grant or deny a petition for a writ of prohibition prayed for by several CSOs— headed by the Citizens Solidarity Council— against the Legislature.A group represented by Counselors Theophilus Gould and Lavela Supuwood filed a complaint with the Supreme Court, challenging the recently amended CBL bill.They further argued that the action of the lawmakers was unconstitutional, describing it as “selective justice,” citing Articles 11C and 18 of the 1986 Constitution of Liberia, thereby praying the Court for a writ of prohibition.  Unfortunately, at Wednesday’s hearing, Associate Justice Wolokollie denied the CSOs’ request, describing it as “premature.”The Supreme Court in its ruling said, “Though both Houses of the Legislature have passed the bill into law, President Ellen Johnsons Sirleaf has not signed the bill into law, nor vetoed it, nor has her veto been overridden by the Legislature. It has not been printed into hand book by the Ministry of Foreign Affairs (MOFA), therefore, such request is premature.”  Recently, the Senate unanimously passed a law barring the governors or staff members of the CBL from participating in the forthcoming election unless they resign three years prior to it; following the unanimous passage, the House of Representative the next day overwhelmingly concorded.The amended bill says, “The Executive Governor of the CBL and members of the Board of Governors shall be prohibited to contest political office(s) while serving in their respective offices and shall not be qualified to contest any electable office within three years, consequently, after the expiration of their tenure with the CBL.”The 1999 approved act creating the CBL said, “The CBL shall not engage in traders or participate directly or indirectly in the ownership of any financial institution or other enterprise.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Defined scope, TOR needed for credibility – Jagdeo

first_imgSARA oil blocks probeReiterating an earlier position that a reputable international firm should carry out any probe into the award of oil blocks offshore Guyana and not the Clive Thomas-led State Assets Recovery Agency (SARA), Opposition Leader Bharrat Jagdeo is insisting that in order for such an investigation to be credible, there needs to be defined scope and terms of reference.Jagdeo explained to reporters at his recent weekly press conference that this is the only way that the Opposition People’s Progressive Party will support the investigation. However, he noted that the Private Sector and oil stakeholders will have to be added to the process since they are the ones who will be most affected by the probe.“I think we should work out like national terms of reference – get everyone together. So, get the Private Sector, get the political parties and they do clear terms of reference so that everybody is at one on this and the scope of the investigation should cover everyone… and then you maybe approach an international organisation of repute to do this. I can’t tell you exactly whom but somebody who is not part of our landscape that can bring an impartial view that all sides – the oil companies, as well the Government of Guyana and the people of Guyana will have credibility in,” the Opposition Leader noted.According to Jagdeo, this will ensure that no one is treated unfairly or feel that the probe is a witch hunt against them.Last month Professor Thomas had disclosed that the agency is looking into the award of the blocks by the Donald Ramotar Administration before the 2015 General and Regional elections.However, Jagdeo had previously said that the PPP welcomes the probe since it has nothing to hide but noted that they will only support it if it is done by an independent international firm.When asked whether this suggestion will be taken under consideration, Government’s spokesperson Joseph Harmon told Guyana Times when contacted last week that he could not say since Cabinet was not briefed on the probe by SARA.In fact, he repeated this during the post-Cabinet press briefing on Friday, saying “We have not had a report from SARA with respect to the nature and extent of their investigations”.Harmon, the Director General at the Ministry of the Presidency, pointed out to reporters that SARA is an independent agency and operates on its own. However, he noted that Government will support the agency in pursuing the necessary actions if breaches or acts of illegality are found but there needs to be credible evidence of this.“Government will be prepared to throw its weight behind the agency so that we have an outcome that is in the interest of the people of Guyana. Of course, it has to be based on evidence which comes before us. As of right now, people are responding to reports that are made in the newspaper and that is what we have” Harmon contended.Opposition Leader Bharrat JagdeoOn May 22, an article appeared in the New York-based Bloomberg website, in which the SARA Director was quoted confirming that there was a probe ongoing. According to Thomas, the probe was in its early stages and would be centred on the award of blocks and licences to ExxonMobil and Tullow.Thomas was quoted by Bloomberg as saying “we’re investigating the issuance of the licences, for example, and the various blocks. We’re building up a case. This is an area of investigation into how the blocks were allocated and the decisions that were made”.However, the Georgetown Chamber of Commerce and Industry (GCCI) said that this investigation can harm Guyana by discouraging potential investors from vying for future oil blocks.Head of the GCCI’s Petroleum arm, Charles Ramson had expressed worry over the impact these revelations have on Guyana’s image especially since the article appeared in Bloomberg, which meant that thousands in the global business community would have read this unsavoury news.Meanwhile, GCCI President Nicholas Boyer decried the haphazard way in which the investigation is being done. He also noted that the investigation is being done at a time when much of the regulatory framework for the industry has not even been set up.“At this point, I think we’re shooting in the dark. I think SARA is wasting its time because of the lack of having a petroleum commission in place, lack of policies saying how it’s going to issue future blocks and approach relinquishment.”SARA is said to be investigating the award of concessions in the Canje and Kaieteur Blocks offshore Guyana. The Canje Block was awarded to JHI, Mid-Atlantic Oil and Gas, and Ratio Energy in March 2015, a few months before the national elections.last_img read more