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Analysts suggest improvements to proposed Sovereign Wealth Fund; Finance Minister says Fund crafted to suit Guyana

The Guyanese government needs to address underlying weaknesses in the country’s proposed Sovereign Wealth Fund’s design to maximize its effectiveness, according to a report released Wednesday by the United States-based Natural Resource Governance Institute. In the document, analysts praised government for taking a number of commendable steps in its plan to save a portion of the country’s forthcoming oil revenues in ...

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US seeks forfeiture of hotelier “Big Head” Lovell’s property; DEA trailed cocaine-smuggling plot to The Netherlands

The United States (US) has ordered Guyanese hotelier, Shervington ‘Big Head’ Lovell and other alleged co-conspirators in cocaine trafficking to forfeit a range of properties. Lovell, Agimero Zapata Castro, and Surinamese Steven Antonious have been charged with violating US maritime drug enforcement laws between April and July, 2018 in Guyana, Jamaica, Colombia , the high seas an elsewhere. In the grand ...

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PPP paid bonus to Disciplined Forces to “suppress” opponents; urged to continue voting “solidly” for PNC/APNU– Finance Minister

Finance Minister, Winston Jordan  Saturday night accused the People’s Progressive Party Civic (PPPC) of paying annual one-month bonus salaries to members of the Disciplined Services to bribe them into taking action against opponents of the their administration. “You know why they were trying to buy off our people in the military and in the police. They were trying to suppress ...

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Fire fighters questioned for allegedly stealing from crashed jet

The captain of the ill-fated Fly Jamaica Airlines jet that made an emergency landing at the Cheddi Jagan International Airport alleged that several personal items were stolen from the plane, police said. Police and fire officials  said at least nine fire fighters were being questioned by investigators in connection with the reported theft. Fire Chief Marlon Gentle said the pilot ...

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Fly Jamaica plane crash-lands at Cheddi Jagan Airport, six injured

A Fly Jamaica airliner crashed early Friday morning at the Cheddi Jagan International Airport, Timehri, officials said. Six persons were injured and rushed to Diamond Regional Hospital. “They are all stable and are being looked at,”  Minister of Public Infrastructure, David Patterson said.  He added that all the persons aboard have been accounted for with minor injuries. “No reports of ...

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Guyana needs broad-based national development policy to spend oil money- Trinidad Opposition Leader

Former Prime Minister of Trinidad and Tobago, Kamla Persad-Bissessar  Thursday night urged Guyana to formulate a broad-based national development policy to spend expected “massive” oil wealth on developing the country over the next 200 years. Addressing the Guyana Manufacturing and Services Association Awards and Dinner, the Opposition Leader also warned Guyana against establishing a state oil company because firing workers ...

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CARICOM fisheries organisation ready to assist Guyana on possible impact of oil industry on fish stock

The Caribbean Regional Fisheries Mechanism (CRFM) is willing to assist Guyana in assessing whether offshore oil industry work is impacting on fish stock, but Guyana says it may be better for oil companies to collect the relevant data. CRFM Executive Director, Milton Haughton said Guyana has not asked for help in that regard, but fishers in the rest of the ...

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No more oil concessions until early 2020- govt’s Energy Department

Oil companies interested in acquiring concessions, including those in ultra deep waters, will have to wait until early 2020 by which time the country is expected to have a model Production Sharing Agreement (PSA) and upgraded laws, officials said Thursday. Head of the Ministry of the Presidency’s Department of Energy, Dr. Mark Bynoe said government was in no hurry to ...

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Govt addressed seafarers’ concerns; recruitment agency says Trinidadians not hired

The Guyana government has already intervened to address claims of discrimination against Guyanese seafarers by one of the companies contracted to hire them to work aboard vessels involved in oil exploration offshore Guyan. The Guyana Seafarer’s and General Workers Union (GS&GWU) said Wednesday that most seamen and other mariners were not being employed by companies that have been contracted by ...

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