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Guyana gov’t paying Republic Bank debt for owner of Marriott-branded hotel

The special purpose government-owned company, Atlantic Hotel Inc; which owns the Marriott-branded hotel cannot afford to pay its debt to Republic Bank, forcing government to pay more US$1 million every six months to prevent Guyana from losing the property, Finance Minister Winston Jordan said Friday. Jordan said the loan guarantor, National Industrial and Commercial Investments Limited (NICIL), also could not ...

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Looming ‘used-tyre’ ban will leave 5000 jobless ; no evidence used tyres cause accidents —GUTA

The Guyana Used Tyres Association (GUTA) is warning that should government continue with the planned importation of used-tyres into the country, as much as 5,000 persons stand to lose employment in the $100M revenue earning business—a situation that could in fact lead to a new smuggling industry. GUTA Executives made this pellucid today (March 24, 2017), when they met with ...

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Displaced Marudi miners likely to get new mining lands

Gold miners, who were displaced from the Marudi area in Rupununi, are likely to benefit from new mining lands but government first has to consider the implications for Amerindian lands and the environment. “This option is being weighed against potential implications for Amerindian titled lands and for biodiversity conservation in the region,” the Ministry of Natural Resources said in a ...

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Air travel is getting more expensive…one travel agent using exchange rate of GYD$250

Less than 24 hours after a section of the business community expressed concern that Guyana’s exchange rate has plummeted to GYD$230 to US$1.00, the local company representing Dynamic Airways has informed airlines that ticket sales must be calculated at GYD$250. Checks with a number of travel agencies confirmed that Roraima Airways Thursday afternoon informed them in writing that Dynamic Airlines’ ...

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Standards Bureau gets $2 billion IDB loan to upgrade labs 

by Gary Eleazar The Guyana National Bureau of Standards (GNBS) has secured a US$9M (G$2B) loan from the Inter-American Development Bank (IDB)—monies the entity intends to put towards the improvement of its testing infrastructure and capacities, across its laboratories countrywide. The disclosure was made today (March 23, 2017)by GNBS Executive Director Candelle Walcott-Bostwick, who was at the time speaking with ...

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City Hall earns just over GYD$500,000 in two months from parking meters

The Georgetown City Council earned just over  GYD$500,000 in the two months from the now suspended parking meter project, according to Deputy Mayor, Sherod Duncan. He told Demerara Waves Online News that figures coming before City Hall’s Finance Committee show City Hall’s 20 percent take from gross revenue amounted to GYD$127,564 in January and GYD$540,240 in February, 2017. Duncan said ...

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Parking meter wardens laid off; employment contract provides for no overtime pay

At least 60 parking meter workers are being laid off following the Guyana government’s suspension of the parking meter by-laws for 90 days, prompting concerns about the employment contract. Smart City Solutions’ (SCS) General Manager, Carlos Gochez told workers in a letter dated March 22, 2017 that “we regret to inform you that due to certain unforeseen circumstances, which have ...

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Bulkan’s latest parking meter suspension order doesn’t require City Council’s approval

Minister of Communities, Ronald Bulkan’s latest order that suspends the Georgetown parking meter bylaws does not require City Hall’s approval, in contrast to the previous one that was issued one week ago. The order issued on Tuesday states “the Georgetown Metered Parking By-laws 2017 are suspended for three months commencing 21st March, 2017.” Government wants the 90 days to be used to ...

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