first_img…Indonesian official expected in Guyana soonHaving been promised a lucrative salary and proper accommodation, 26 adult male Indonesians travelled approximately 12,000 miles to take up employment with an established fishery in Guyana. They are now stranded after the company failed to meet its obligation.The men had been working with the company for several months, frequenting the seas on the tuna vessels, but they got fired after they objected to the payment and living conditions they were receiving.The men have, for the past three days, been seeking refuge at the Providence Sunnatul Masjid on the East Bank of Demerara. When this publication visited the Masjid on Saturday, the men were observed cooking and hanging around the compound. they were however unable to communicate with the <> because of the language barrier.A female member of the Masjid told this publication that the men reported that they were offered US$400 (5,367,200 Indonesian Rupiah) per month to come and work with the popular fishing establishment, but what they were being paid in Guyana dollars did not translate into the promised amount. She said the men objected to this, but got no satisfactory answer, and were ordered out of the establishment’s compound.“The (men) were saying that they were not getting enough food and thing to eat at the back there, so eventually they came over here, like three days now, and the brothers at the Masjid are helping them to buy foodstuff, so that they can cook and eat,” she informed.The woman said they were informed that the owner of the fishing company was out of the country, and is expected back on Sunday, but it is unclear whether he would accede to the men’s request. However, she said the brothers at the masjid made contact with the Indonesian Embassy in neighbouring Suriname, and a representative is expected in Guyana on Monday to address the men’s situation.When contacted, State Minister Joseph Harmon told <> that he is yet to receive any information regarding the incident, and that he is unclear whether the embassy officials had contacted the Foreign Affairs Ministry. Further efforts to contact Foreign Affairs Minister Carl Greenidge and Citizenship Minister Winston Felix proved futile.For now, the men remain in the compound of the masjid, and are being taken care of by members of the community in collaboration with the administration at the mosque. They dwell in the yard of the compound during the day, and at night they would sleep on mattresses in a section of the masjid.last_img read more

first_img Federal Reserve FOMC GDP Jobs Mortgage-Backed Securities 2014-07-30 Tory Barringer Share July 30, 2014 512 Views in Daily Dose, Headlines, News, Secondary Marketcenter_img Leaders at the Federal Reserve voted Wednesday to move forward with the central bank’s plans to gradually cut monthly bond purchases, a sign of growing confidence that the economy is trending in a more favorable direction.In a statement released following its July meeting, the Federal Open Market Committee (FOMC) announced it has voted to bring its purchases of agency mortgage-backed securities and longer-term Treasury securities to a combined pace of $25 billion per month.Members voted almost unanimously for the committee’s monetary policy action and its public statement, with Philadelphia Fed President Charles I. Plosser casting the only dissenting vote. According to the FOMC statement, Plosser objected to the Fed’s commitment to stick to its target range for the federal funds rate for “a considerable time after the asset purchase program ends,” arguing that the language “is time dependent and does not reflect the considerable economic progress that has been made toward the Committee’s goals.”The rest of the FOMC statement was largely unchanged, though a few differences from previous releases indicate the committee members are feeling more optimistic. In describing the falling unemployment rate, the committee acknowledged that “there remains significant underutilization of labor resources,” a change from the usual note that unemployment “remains elevated.”At the same time, the committee said the likelihood of inflation running below its 2 percent goal “has diminished somewhat,” moving away from its more cautious usual wording.The FOMC announcement came on the same day as the latest report on gross domestic product, which showed economic growth rebounded to an annual rate of 4.0 percent in the second quarter. Coming up on Friday is the employment situation report for July, which analysts expect will show payroll growth of more than 200,000 for the sixth straight month.With three more committee meetings scheduled this year and economic indicators looking better, most analysts anticipate the Fed’s asset purchasing program will come to a close before winter, about two years after it was first announced. Fed to Cut Monthly Bond Purchases to $25Blast_img read more