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Oil traders head to Guyana for face-to-face contract bidding

At least half a dozen traders from Houston, Geneva and London are set to alight on tropical Guyana this weekend to bid on some of the first oil cargoes produced by the tiny South American nation, Bloomberg reported. Guyana has no experience in trading oil — and it’s looking to learn the basics from its very first buyer. The government ...

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Republic Bank already decided to compensate customers for inconvenience

About three hours after the Bank of Guyana said it would be pressing Republic Bank Guyana to compensate customers for inconvenience stemming from an upgrade of its system, the Trinidad-headquartered financial institution said it had days ago already decided to do so. “Importantly, at the Bank’s Annual General Meeting on December 9th 2019, Chairman, Nigel Baptiste, announced that the Bank ...

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Bank of Guyana now responsible for sovereign wealth fund

Guyana’s central bank, the Bank of Guyana, on Wednesday formally took over responsibility for managing the Natural Resources Fund also known as the sovereign wealth fund (SWF), even as Guyana awaits word from the Federal Reserve Bank of New York (or the New York Fed) on due diligence where the monies will be deposited. Governor of the Bank of Guyana, ...

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Guyana about to begin remapping for better land use, management

The Guyana government will shortly begin remapping the country for the first time in 50 years to give prospective and current land users a better idea of location, resources and features, officials said. Commissioner of the Guyana Lands and Survey Commission (GLSC), Trevor Benn says an US$18 million project was approved by the National Procurement and Tender Administration. Mr. Benn ...

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Four fired in Lands and Surveys crackdown on corruption

Four employees of the Guyana Lands and Survey Commission (GLSC) were dismissed this year for corrupt practices, a senior official of that semi-autonomous state agency said Monday. GLSC Human Resources Manager, Shonda James-Williams says the employees were fired because they had privately collected monies and promised to issue lands to potential clients of the commission. “We had about three employees ...

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PPP “likely” to win next elections but tighter anti-corruption efforts needed – US expert

The United States (US) will have to ensure that the opposition People’s Progressive Party (PPP) sticks to its promises to keep a lid on corruption, with the likelihood of that party winning next year’s general elections, a senior advisor at the US State Department asserts in a recent assessment of the political and security situation. “At the same time, given ...

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Angolan succeeds Guyanese as ACP Secretary General

(Kenya Broadcasting Corporation) Ambassador Georges Rebelo Pinto Chikoti, from Angola, is named the new Secretary General Designate of the Africa, Caribbean and Pacific (ACP) Group of States. Ambassador Pinto — who was picked from among three candidates: an Angolan, a Zimbabwean and a Mozambican — is succeeding Mr. Patrick I. Gomes, a former deputy from Guyana. Ambassador Pinto will be ...

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GTT offers GYD$5 million reward for information on vandals

The Guyana Telephone and Telegraph Company (GTT) on Friday offered a GYD$5 million reward for information leading to the arrest of anyone involved in the vandalisation of its fibre optic cables on the Linden Highway recently. The illegal act resulted in widespread service disruptions, the company said. On November 30, GTT said it received numerous reports of loss of services ...

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Guyana’s tourism sector forecasts big returns from Condé Nast Traveler’s listing

Tourism executives are banking on Guyana’s listing by Condé Nast Traveler, a premier travel magazine, as one of the top 20 places to visit next year to further boost the sector which has so far raked in more than GYD$60 billion dollars annually. Director-General of Tourism, Donald Sinclair told a domestic Regional Tourism Committee Forum that many of the ecotourism ...

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