Ease of Doing Business: Guyana slips 2 places down with score of 126- World Bank report
The World Bank has highlighted a decline for conducting business in Guyana. The report for World Bank’s Ease of Doing Business ranking for 2018 showed that Guyana slipped two places – from 124 in 2017 to 126 for soon approaching 2018. 
The winners of the 2016 Nobel Prize in Physics were announced in Stockholm, Sweden, on Tuesday October 4. (Photo: Getty images) [/caption]
“This year’s laureates opened the door on an unknown world where matter can assume strange states,” said the Nobel Foundation in a statement Tuesday.
What was their discovery?
In the early 1970s, Kosterlitz and Thouless overturned the then-current theory that superconductivity could not occur in extremely thin layers.
“They demonstrated that superconductivity could occur at low temperatures and also explained the mechanism — phase transition — that makes superconductivity disappear at higher temperatures,” explained the Foundation.
Around a decade later, Haldane also studied matter that forms threads so thin they can be considered one-dimensional.
A member of the Nobel committee explained the process in a video, using a cinnamon bun, a bagel and a pretzel:
Why is it important?
The physicists’ pioneering research could be used in the next generation of electronics and superconductors — or even quantum computers, as Nobel Committee member Thors Hans Hansson explained.
“People are working very hard in the labs to get new materials which have interesting properties of conducting electricity,” he said.
“And the dream is that this can be used for carrying information.”
" data-image-meta="[]" data-image-title="Nobel Prize in Physics awarded to British trio for study of exotic matter" data-large-file="" data-medium-file="" data-orig-file="" data-orig-size="" data-permalink="http://www.inewsguyana.com/nobel-prize-in-physics-awarded-to-british-trio-for-study-of-exotic-matter/" height="254" sizes="(max-width: 640px) 100vw, 640px" src="https://i2.wp.com/guyanatimesgy.com/wp-content/uploads/2017/11/business-ranking-1024x537.jpg?resize=640%2C336" srcset="https://i2.wp.com/guyanatimesgy.com/wp-content/uploads/2017/11/business-ranking-1024x537.jpg?resize=640%2C336 1024w, http://guyanatimesgy.com/wp-co...-ranking-300x157.jpg 300w, http://guyanatimesgy.com/wp-co...-ranking-768x403.jpg 768w, http://guyanatimesgy.com/wp-co...-ranking-696x365.jpg 696w, http://guyanatimesgy.com/wp-co...ranking-1068x560.jpg 1068w, http://guyanatimesgy.com/wp-co...-ranking-801x420.jpg 801w, http://guyanatimesgy.com/wp-co...business-ranking.jpg 1600w" width="484" />Doing Business, measures regulations that affect various areas regarding the life of a business or in setting up new businesses. Some of the categories considered to determine ‘the ease of doing businesses were “starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, and trading across borders. The assessment uses various indicators to analyse economic outcomes and identify the appropriate reforms for business regulation.
Under the category of registering property, Doing Business 2018 found that Guyana has made it easier to transfer property by decreasing the time to transfer a property by allocating higher resources in infrastructure and personnel. The assessment further found that Guyana made enforcing contracts easier by adopting a new code of civil procedures regulating time standards for key court events.
Assessing how the country stacks up to its regional counterparts, Guyana was behind Jamaica, which ranked 70; followed by St Lucia, 91; Dominica, 98; and Trinidad and Tobago, 102. The Bahamas was ranked 119 while Belize placed just ahead of Guyana at 121. While, ranking much higher on the Human Development Index than Guyana, Doing Business contends, by way of its ranking, that tourist giant Barbados is a less favourble nation to conduct business than Guyana. Barbados’ ranking was 132 followed be fellow Caribbean island nation, St Kitts and Nevis at 134.
The highest placed country for the 2018 rankings was New Zealand which was even with last year’s placement. Asian economic powerhouse Singapore ranked second while the United States came in sixth and the United Kingdom, seventh. The bottom three nations were Guyana’s western neighbour embroiled in economic turmoil, Venezuela; in addition to Eritrea and Somalia.
Doing Business is a World Bank Group pu
