Markets update at midafternoon

On the markets at midafternoon (ET):In Toronto, the S&P/TSX composite index was up 45.68 points to 15,999.19.The Dow Jones industrial average was down 70.29 points to 23,363.90.The Standard & Poor’s 500 index was down 12.23 points to 2,572.67.The Nasdaq composite index was up 139.90 points to 6,689.03.The Canadian dollar was trading at 77.92 cents US, up from Friday’s average price of 77.68 cents US.

Mahdia now Guyanas 10th town

President David Granger and Minister of Communities, Ronald Bulkan unveil the plaque on the Mahdia Monument to officially declare the community a town. Looking on and applauding are (left) Minister of Social Protection, Amna Ally, Minister of State, Joseph Harmon; (right) Minister of Public Infrastructure David Patterson and Minister of Indigenous People’s Affairs Sydney Allicock.Mahdia now joins three other new townships; Bartica in Region Seven, Lethem in Region Nine and Mabaruma in Region One. It will serve as the capital town of the Potaro-Siparuni Region.The Government has said that it is the fulfilment of a larger vision of the Coalition Administration to establish a capital town in each of the administrative regions of the country.According to the Department of Public Information (DPI), President Granger described the event as one of the most powerful economic reformers in the history of Mahdia.“These capital towns will become hubs for development. What you’ll see from now on is the development of the administrative regions. I have seen men and women who are committed to making something from their capital town so we’re moving forward with the creation of these townships,” President Granger underlined.He called for greater collaboration to ensure the ongoing development of the regions.“You have to work with the government, region and upcoming municipality for improved services. The whole idea of regionalisation is not a pipe dream but a way to develop Guyana from the grassroots,” the President was quoted by DPI as saying.Minister of Communities, Ronald Bulkan noted that though Mahdia’s township status arrived after Mabaruma, Bartica and Lethem, the government’s greatest investment was made here with the nearly $1 Billion spent in upgrades of the internal road network.The Communities Minister indicated that the government is committed to working with the Toshaos of the Sub-regions Pakaraima, Campbelltown, Mickie; the Senior Councillor of Princeville; Regional Democratic Council members and all the residents of the region.In his remarks Minister of Public Infrastructure, David Patterson noted that his Ministry was challenged to ensure that its projects reflected aspects of both the green state agenda and the requirements of a modern new town.Regional Chairman, Bonaventure Fredericks welcomed the much-needed township status and noted that for the first time, the residents will exercise their constitutional rights by participating in the Local Government elections on November 12.At the end of the historic event, the Mahdia Monument was unveiled.Mahdia’s earliest recorded settlement is in 1884. In the 1930s, with the construction of the Denham Suspension Bridge and improved road access to the area, Mahdia grew to an area of prominence within the then British colony. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedConsultations begin to transform Mahdia into a townSeptember 7, 2015In “Business”Passport application services now available in Region 10August 12, 2016In “latest news”Electricity, education & housing to be improved in Reg.8September 7, 2015In “Business” read more