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Amartha books 44% increase in financing disbursement in first half of 2020

first_imgHe also credited Amartha’s expansion to Sumatra and Sulawesi as the main driver of the company’s recent growth.To practice prudent financing during the pandemic, the company applied a policy that identifies debtors based on their regions and business types. It also applied a stricter credit approval and disbursement system based on areas most affected by the pandemic.This means that the company could reject financing proposals for businesses located in red zones and only allow funding for partners in green zones. It also blacklisted businesses that rely heavily on conditions before the pandemic from receiving financing during the pandemic.Amartha is aiming to disburse financing to more than 150,000 micro, small and medium enterprises (MSMEs) in the second half of this year, without disclosing a specific monetary figure. Andi said the company would target micro business players in the informal sectors that sell staple foods and food vendors.“This sector has proven to be resilient amid the COVID-19 pandemic as they sell primary items in small-reaching areas such as villages,” he said in the statement.Amartha pledges to continue to disburse financing during the pandemic to help MSMEs recover, adapt and grow.  Financial technology (fintech) lending start-up Amartha booked an almost 44 percent increase in financing disbursement in the first half of this year after expanding to Sumatra and Sulawesi in light of the COVID-19 pandemic.The peer-to-peer lender’s financing disbursement grew by 43.87 percent to Rp 645 billion (US$43.63 million) in the first half of this year compared to the year before. The funds were disbursed to 168,125 micro business players in the country, Amartha said in a statement on Thursday.“We saw a decrease in financing by up to 60 percent in April to May due to the pandemic but it had since increased significantly by June and continues to rise to this day,” Andi Taufan Garuda Putra, Amartha founder and chief executive officer, said in the statement.center_img Topics :last_img read more

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Mandiri Investasi, DBS offer dollar-denominated sharia mutual fund

first_img“In terms of Mandiri Investasi’s total AUM, we are targeting for it to be around Rp 58 trillion by the end of 2020,” Alvin said during a virtual media briefing on Wednesday. As of August, Mandiri Investasi booked Rp 57.81 trillion in AUM. MGSED is an equity fund that invests in foreign sharia equity securities and focuses on investing in new economies which include the themes of digitization, financial evolution, feel-good businesses, healthcare innovation as well as energy revolution. Mandiri Investasi shifted its priority into investing into those emerging sectors in mid-2019 to better align itself with global technological disruption, which has seen new economy stocks outperform old economy stocks.“Since last year, we saw an opportunity to invest in sectors that can create disruption to how we do businesses,” Alvin noted, adding that the equity fund consisted of 30 to 50 stocks of companies within those sectors.  Fund manager PT Mandiri Manajemen Investasi (Mandiri Investasi) is partnering with Bank DBS Indonesia to offer dollar-denominated mutual fund Mandiri Global Sharia Equity Dollar (MGSED) as it aims to increase the total funds under its management. Alvin Pattisahusiwa, president director of Mandiri Investasi, a subsidiary of state-owned Bank Mandiri group, said the company expected to increase its assets under management (AUM) by US$100 million by the end of the year through the mutual fund. The product has been gaining traction in the market as Alvin reported that it had collected Rp 598 billion in AUM by the end of August, which had grown to Rp 1.1 trillion as of Sept. 22.  Almost 40 percent of the stocks are of companies within the sector of information technology, making up the biggest share of the portfolio. Consumer and healthcare stocks come second and third at 19.78 percent and 18.57 percent, respectively. Among its top holdings are American multinational tech company Apple Inc, American social media conglomerate Facebook and Chinese tech with a foothold in e-commerce and retail, Alibaba Group Holdings. The equity fund mostly invests in US-based companies, which account for almost 70 percent of its portfolio. Meanwhile, investment in Asian countries, European countries and others account for 16.2 percent, 11.25 percent and 4.2 percent, respectively.“This product provides an option and opportunity for clients who want to diversify their wealth by placement in the global market,” Bank DBS Indonesia director of consumer banking Rudy Tandjung said during the media briefing. Bank DBS Indonesia targets sales of up to Rp 300 billion from the equity fund in the next 12 months, according to the bank’s head of unit trust and treasures private client product Mus Hidayat. So far, the bank has booked $6.7 million in sales. As of Aug. 31, MGSED has outperformed its index benchmark, the Dow Jones Islamic World (DJIW) index, as it recorded a return of 23.5 percent year-to-date (ytd), while the DJIW booked a return of 12.37 percent. “This trend is not a temporary trend. We believe that this will be sustained and will reconfigure the structure of the economy in the future,” Mus said. He explained that continuous growth would be supported by rapidly evolving technological innovation, demographic changes that saw a rise in the aging population and the middle class that will boost expenses in the care sector, and lastly, rising awareness of environmental concerns among consumers, which would drive a revolution in the energy sector. He expressed optimism that investors were now choosing mutual funds to grow their portfolio amid falling interest rates and greater access to information.Topics :last_img read more


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Community Leaders, Education, and Business Officials Join Governor Wolf to Call for Statewide Broadband Access

first_imgCommunity Leaders, Education, and Business Officials Join Governor Wolf to Call for Statewide Broadband Access SHARE Email Facebook Twitter Press Release,  Restore Pennsylvania Harrisburg, PA – Today, Governor Tom Wolf was joined by Office of Broadband Initiatives Acting Executive Director Sheri Collins and representatives from Pennsylvania’s business, education, and municipal sectors at a press conference at the Capitol. The participants discussed their individual challenges with broadband access and how the bipartisan Restore Pennsylvania proposal will help close the digital divide.“One of the biggest challenges holding back Pennsylvania’s economy is lack of universal broadband access,” Governor Wolf said. “Everyone here today told us about how the negative effects of not having access are numerous and far-reaching. Thankfully, we have a plan in Restore Pennsylvania that can provide the funds necessary to expand access to high-speed internet to everyone.”Restore Pennsylvania, the $4.5 billion bipartisan proposal funded through a commonsense severance tax, will provide funding to completely bridge the digital divide in every community in Pennsylvania. Funding will be available to support installation of infrastructure to bring high speed internet to every corner of the commonwealth.Nearly a million Pennsylvanians today lack access to robust, reliable, high-speed internet according to the Federal Communications Commission. Lack of broadband access affects almost every sector. In education, lack of broadband access hurts students’ ability to learn and teachers’ ability to teach. In business, companies have difficulty recruiting premier talent in areas where broadband isn’t readily available for the employee and their family at home. In health care, broadband is needed for effective telemedicine and ensuring emergency medical services personnel can provide the fastest, best care possible.“As educators, we know how important it is for our students to have broadband internet access beyond the school walls,” said Dr. Brian Griffith, superintendent of Penns Valley Area School District. “A reliable, affordable, and scalable broadband internet connection is essential to be competitive with learners from across this commonwealth and around the world. It’s time we step up and lead the way toward developing the type of contemporary learner we not only desire, but need. I believe Restore Pennsylvania is a plan that will help achieve this goal.”“Fast-growth, digitally-native businesses like ours are extremely dependent on broadband internet,” said Todd Wolfenberg, CEO of Yoga International based in Honesdale, Wayne County. “Those businesses can only grow and recruit top talent if high-speed internet is readily available. This is a challenge in Wayne County and many other areas of the state. We support the Restore Pennsylvania initiative because we know firsthand that those who don’t have high speed access will get left behind—and that businesses will have a harder time competing in an increasingly global marketplace.”The problem also disproportionately affects rural areas. According to a report published last month from the Center for Rural Pennsylvania, internet connectivity speeds are substantially slower in rural counties than in urban ones. Due to the cost of broadband infrastructure, local municipalities cannot fund the purchase and installation of that infrastructure themselves. If passed into law, Restore Pennsylvania will support every phase of the process from feasibility testing to connection at a level far beyond any existing funding mechanisms.“One of the main goals of Tri-County Rural Electric Cooperative and Tri-Co Connections is to deliver high-speed fiber optic internet services to the unserved and underserved homes, farms and businesses across rural Northcentral Pennsylvania,” said Craig Eccher, president and CEO of Tri-County Rural Electric Cooperative. “We expect the availability of broadband internet service to spur economic development in our region, creating opportunities in areas such as telemedicine, education, teleworking and opening doors for future business ventures. Restore Pennsylvania will ensure the construction of desperately-needed rural broadband infrastructure continues to be built across the commonwealth.”Restore Pennsylvania is a statewide plan to aggressively address the commonwealth’s vital infrastructure needs. Funded through a commonsense severance tax, Restore Pennsylvania is the only plan that will help make Pennsylvania a leader in the 21st century.Learn more about what critical infrastructure could be fixed in your community with Restore Pennsylvania at governor.pa.gov/restore-Pennsylvania.center_img July 18, 2019last_img read more


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Brisbane builder’s Balmoral home hits the market for the first time

first_img45 Olive Grove, BalmoralMr Gloftis said entertaining was a breeze with a built-in barbecue and in-ground pool surrounded by a low maintenance garden.He said given the location, the property was in a sought-after suburb.Families will appreciate the layout of the top level as it includes the main bedroom and ensuite, as well as two large bedrooms sharing a spacious bathroom. 45 Olive Grove, BalmoralA dark concrete exterior is softened by warm veins of stained timber panelling wrapped around a double-height void and used in the construction of the oversized front door.More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020 45 Olive Grove, BalmoralA substantial glass-framed deck attached to the master sleeping quarters overlooks the pool with views to the north of the city.Mr Gloftis said there was enough yard space to keep a pet.He said the property would best suit a big family. 45 Olive Grove, BalmoralBrisbane builder Jason Gloftis’ Balmoral masterpiece is brand new and ready for sale.The property, at 45 Olive Grove, was in the design stages for a good eight months before the dirt was cut in April, according to Mr Gloftis from Gloffy Constructions.He said the three-level home worked well with the 622sq m block and accommodated a large protected fig tree in his neighbour’s backyard.From there, we just stepped it up, Mr Gloftis said.“Internally, it’s like a bridge from one end to the other,” he said. 45 Olive Grove, BalmoralThe hardwood extends to the towering interior staircase, punctuated with a feature of three soaring posts, as well as the flooring which has been treated with a sophisticated matte finish.Burleigh Designs and Gloffy Constructions collaborated to create this recently completed five- bedroom masterpiece.last_img read more


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Interview with Offshore WIND Conference Speaker David Molenaar

first_imgQ&A with David Molenaar, Country Manager Siemens Wind Power, Siemens GamesaSpeaker during Offshore WIND Conference, session: Human CapitalWhat are the immediate human capital challenges?We need more speed to achieve a nationwide educational approach for offshore wind technicians, a specific wind service (on land and on sea) paragraph in the Working Hours Act. Furthermore, to solve the ‘who does provide the GWO training’ question – either the schools or the sector. Who is required to enable students to have a valuable on-site training and education during internships?The growing offshore wind market requires a new breed of personnel – who are they according to you?I do not agree that we need a new breed of personnel. I believe we have to combine several groups in a smart way: including: experienced offshore wind technicians, experts from other sectors / fields and specially educated students.What challenges are you finding in recruiting for Siemens Gamesa?Our challenges lie mostly in recruiting the right persons that match the not always known and changing requirements. Finding the right locations for on the job trainings and creating the right quality mindset and safety culture.What do you hope people will take-away from your contribution during Offshore WIND Conference?That working in offshore wind is challenging and fun, that the sector needs best-in-class and motivated employees and students, and also that we need your support to achieve a nationwide educational approach.Reprinted from the Offshore WIND Magazine, edition 4, which is out now!last_img read more


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Labour wants to do away with Families Commission

first_imgNewsTalk ZB 30 October 2013Labour is announcing it will do away with the Families Commission if it gets the chance.MP Jacinda Ardern says they want to scrap the commission and instead prioritise spending on reducing child poverty.“We don’t believe that the Families Commission now is playing the kind of role that we need it to be playing in a modern New Zealand.“In fact, instead what we would like to do is just beef up the role of the Children’s Commissioner, particularly the work they’re doing around child poverty.”But the politician behind the establishment of the Families Commission wonders if Labour is united in its desire to do away with it.United Future MP Peter Dunne says Labour isn’t being family friendly and really it’s just rejigging budgets and creating uncertainty.http://www.newstalkzb.co.nz/auckland/news/nbpol/342926428-labour-wants-to-do-away-with-families-commissionlast_img read more



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Defeat to Leinster ends Bath’s Champions Cup hopes

first_img Bath continued to struggle in attack and it took their reinforced scrum – aided by Nick Auterac and Henry Thomas’ arrivals – to get them into scoring range. They were clinical from a close-in penalty on the hour, number eight Houston muscling over off a lineout drive. Ford could not convert and after Bath mishandled the restart, Cronin gobbled up possession to launch a powerful set of attacking phases. It was the replacement hooker who eventually scored, springing through from a close-range ruck. Madigan’s conversion was followed by a Ford penalty, with Te’o fortunate to avoid yellow for lifting Joseph in a tackle. Leinster continued to look the more likely to score and Madigan’s 76th-minute penalty sealed Bath’s fate, leaving Wasps and Toulon to battle it out for Pool 5 honours. Ian Madigan finished with a 20-point haul, but it was Leo Cullen’s young guns who got the best out of the province with eight of their starting line-up aged between 20 and 24. Madigan landed four penalties from five attempts to give Leinster a 12-3 interval lead, with James Tracy, Josh van der Flier and Mike McCarthy starring up front. Leinster knocked Bath out of contention for the European Champions Cup quarter-finals with a very encouraging 25-11 victory at the RDS. Despite Leroy Houston’s 59th-minute try giving them renewed hope, Bath were out of sorts and very much second best on the night. Leinster lifted their game again in the Dublin rain, an opportunist try from Sean Cronin and a sixth successful Madigan penalty sealing their first pool win of the season. A break from the excellent Ben Te’o, who linked neatly with Zane Kirchner, set up Madigan’s first penalty in the eighth minute – just reward for a sprightly Leinster start. The home forwards, including man-of-the-match Ross Molony in the second row, took hold of the game while playing at a relentless pace, engineering a couple of try-scoring opportunities with lively hooker Tracy held up just short. Madigan sent a right-sided penalty wide soon after and the Bath pack – on a rare attack – drove forward to set up a well-struck 29th-minute leveller from Ford. Leinster restored their lead six minutes before the break, Madigan splitting the posts following a lineout infringement, and some more incisive running from centres Te’o and Garry Ringrose kept the hosts humming along. Bath lock Dominic Day’s slow retreat earned him a yellow card and Madigan mopped up with three more points. Fourteen-man Bath were then denied a certain try by the retreating Dave Kearney, who did really well to reach Jonathan Joseph’s kick through alongside a lunging Houston. Kearney was high-tackled by Anthony Watson on the stroke of half-time, allowing Madigan to curl over his best kick of the night from wide on the left. Another try-scoring chance went begging for Leinster on the resumption, Isa Nacewa being hauled down short after a neat release by Ringrose. But the boot of Madigan rewarded them with another successful place-kick. Press Associationlast_img read more


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The Latest: Lions’ Stafford removed from COVID list

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The Detroit Lions removed quarterback Matthew Stafford from the COVID-IR list and said he received a false positive test result. The league announced a new preseason practice schedule on Tuesday after previously announcing that SEC teams would play only league games and pushing the season start back to Sept. 26.The new league-wide calendar allows for more days off and fewer practices than permitted under NCAA rules. From Aug. 7-16, teams are allowed to conduct up to 14 hours weekly of strength and conditioning, meetings and walkthroughs.Starting Aug. 17, they can hold 25 practices with a limit of 20 hours per week of practice time. Coaches must allow two days off each week until game week.___Cleveland Browns defensive tackle Andrew Billings has opted out of the 2020 season because of coronavirus concerns. Midi Libre said four young players from Montpellier academy also tested positive for the virus last week. The French league is to start on Aug. 21.___The German men’s ice hockey league will start its new season in November, more than eight months after the coronavirus stopped play. The league says its clubs agreed on the Nov. 13 date to begin the 2020-21 season and they’re drawing up plans to have fans in the arenas, subject to approval from German authorities. The International Football Association Board, the game’s lawmaker, updated its guidelines while the pandemic perseveres.A referee can only red card a player when they are certain the cough is intentional. A yellow card is also optional.The new rule falls under “using offensive, insulting or abusive language and/or gestures.”IFAB said in a statement: “As with all offenses, the referee has to make a judgment about the true nature of the offense.“If it were clearly accidental, then the referee would not take action nor if the ‘cough’ took place with a large distance between the players. ___The Sun Belt Conference will keep its eight-game league football schedule and allow its members to play up to four nonconference games this season.The conference’s 10 members had 12 games scheduled against Power Five conference opponents, but with those leagues eliminating almost all of their nonconference games, Sun Belt schools have lots of holes in their schedules.The conference said it plans to start playing league games over Labor Day weekend and members can begin nonconference games as soon as Aug. 29.Texas State already has announced it has moved its home game against SMU in San Marcos, Texas, to Aug. 29. The MSHSL also decided at a virtual board meeting that soccer and individual fall sports — including cross country, girls tennis and girls swimming and diving — can start practice on time on Aug. 17. All seasons for the upcoming school year will be shortened. Football teams will play six regular-season games, down from eight, with a decision on postseason play to be made later. Minnesota became the ninth state to delay its high school football season, the Star Tribune reported.Competitive high school sports in Minnesota have been on hold since March when the COVID-19 pandemic hit the state. This summer, the league has allowed for team workouts within recommended health guidelines.___Linebacker Skai Moore has become the first Indianapolis Colts player to opt out of playing the 2020 season because of the coronavirus. “However, where it is close enough to be clearly offensive, then the referee can take action.”___Cricket Australia has postponed a Twenty20 series against the West Indies scheduled for October.Australia and the West Indies were set to play games in Queensland state from Oct. 4-9 as warm-ups for the Twenty20 World Cup in October and November. But the International Cricket Council has already pushed the men’s T20 World Cup back by a year — to be held either in Australia or India. Cricket Australia says, “In light of this development, and given the preference to host the warm-up three-match T20 series against the West Indies to coincide with the rescheduled T20 World Cup in Australia, it has been agreed to postpone the matches.” ___A preseason friendly between French soccer clubs Marseille and Montpellier has been canceled due to a suspected case of coronavirus.The clubs said in a joint statement that Wednesday’s match at Stade Velodrome in Marseille was scrapped as a measure of precaution.According to regional newspaper Midi Libre, a Montpellier player whose identity was not revealed is suspected to have caught the virus. The player, who was tested with the whole team on Monday, will undergo another test this week, the newspaper said.Montpellier had been forced to cancel another preparation match last month after a player from local rival club Sete was diagnosed with the virus. The Jacksonville Jaguars have cleared starting quarterback Gardner Minshew from the COVID-19 list.Minshew spent the last two days in mandatory quarantine after being in close contact with someone infected. Safety Andrew Wingard also was activated from the COVID-19 list Tuesday. Minshew, Wingard and receiver Michael Walker are roommates in Jacksonville and have been for more than a year. Walker remains on the list.Jacksonville had an NFL-leading dozen players on the COVID-19 list Monday, with most of them being rookies and second-year players like Minshew, Wingard and Walker.The Jaguars are expected to hold their first training camp practice next Wednesday.___ August 4, 2020 The league played its last games on March 8 and was suspended with the regular season complete and the playoffs due to begin. The season was canceled and no champion was declared. Hockey has been slow to return in Germany because the league and clubs rejected the option of playing in empty arenas. They argued that they would lose money by hosting games without fans.The league says there will be a “preparation tournament with all 14 clubs in the lead-up to the season” but dates and locations are yet to be confirmed.___A soccer player who deliberately coughs close to another player or match official can be issued a red card. Billings signed a one-year free-agent contract with Cleveland in March after spending three seasons with the Cincinnati Bengals. The 6-foot-1, 328-pounder was going to give the Browns some size and depth up front.Billings is the third Cleveland player who has chosen not to play, following guard Drew Forbes and tackle Drake Dorbeck.Players have until Thursday at 4 p.m. to notify teams if they’re choosing to opt out.A fourth-round pick in 2016 from Baylor, Billings sat out his rookie season with a knee injury but he’d been one of Cincinnati’s most consistent interior linemen the past three years.The Browns also placed wide receiver Ja’Marcus Bradley on the reserve/COVID-19 list. Bayer Leverkusen says midfielder Nadiem Amiri will miss its Europa League last-16 game against Rangers on Thursday after he had contact with someone believed to have the coronavirus. The club says Amiri reported the “short-term” contact in his private life himself and is isolating at home for a week as a precaution.Leverkusen managing director sport Rudi Völler says in a statement that “Nadiem’s behavior is exemplary and important. Precisely because infection numbers are rising again in Germany, it’s an example of a serious and responsible approach to the pandemic.”Leverkusen takes a 3-1 lead from the first leg in March when it hosts Rangers on Thursday.Amiri has played 41 games for Leverkusen this season across all competitions. NFL players have until Thursday at 4 p.m. EDT to say they are skipping the season. Nearly 50 players have done so.Moore has been a backup linebacker and special teams player the last two seasons for Indy. He appeared in a total of 10 games over those two seasons.Players who opt out voluntarily will receive a $150,000 stipend. Those who receive a medical opt out will receive $350,000.___The start of Southeastern Conference football practices has been pushed back 10 days to Aug. 17. Associated Press The Latest: Lions’ Stafford removed from COVID list The list was created for players who either test positive for COVID-19 or have been in close contact with an infected person. Stafford was listed on it Saturday, but the team said Tuesday his testing sequence for the pre-entry period was: negative, negative, false positive — then the next three tests were all negative.“To be clear, Matthew does NOT have COVID-19 and never has had COVID-19 and the test in question was a False-Positive,” the team said in a statement. “Also, all of Matthew’s family have been tested and everyone is negative.”___Minnesota is the latest state to delay high school football competition because of the coronavirus concerns.The Minnesota State High School League voted Tuesday to move football and volleyball competition to a newly created fourth season likely to run from mid-March to mid-May. The normal spring sports would move to a window likely from mid-May to mid-July. ___The Madrid Open, a joint men’s and women’s tennis tournament, has been canceled.Organizers say the tournament will not take place at its rescheduled slot in September “following strong” recommendations made by local authorities “in view of the current situation caused by COVID-19.” The event was originally scheduled to be played in May. ___ The series also would have overlapped with the Indian Premier League which has been rescheduled to be in the United Arab Emirates from Sept. 19-Nov. 10, pending government approval. The lucrative IPL usually attracts players from all over the world, including many stars from the Caribbean and Australia.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sportslast_img read more


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Guyana’s badminton team to take part in CAREBACO in Barbados

first_imgGUYANA’S top badminton players will be taking part in the Caribbean International Badminton Championships (CAREBACO) to be held at the Garfield Sobers Sports Complex in Barbados from August 15 to 25.Last year when the championships were held in Suriname, Guyanese players won 13 medals (5 gold, 2 silver and 6 bronze).The team will be aiming to repeat and even improve on that feat this year, as they have been in intense training twice daily over the past few weeks.The team consists of the Ramdhani siblings, Priyanna and Narayan, Tyrese Jeffrey, Akili Haynes and Jonathan Mangra. They will be competing in the U-19 Juniors International and the Open International.At last year’s CAREBACO, Priyanna was the female U-19 champion and Open runner-up while Narayan won an Open bronze medal.The team is being accompanied by manager/coach Gokarn Ramdhani.The 17 countries taking part are: Guyana, Barbados, Trinidad and Tobago, Suriname, Jamaica, Panama, Canada, USA, Finland, Italy, Poland, Iceland, Luxembourg, Slovakia, England, Mongolia and Germany.CAREBACO is an Olympic qualifier so players from around the world will be participating to get higher world ranking points.The GBA, through a release to the media, expressed thanks to NSC and Director of Sport Christopher Jones, Demerara Bank, Nevell Osman, SOL and Ayanna Watson, GAICO and Komal Singh, DaSilva’s Optical and the GOA.last_img read more