Business

Political uncertainty, including threats to review deals, has posed a setback in the sale of several Guyana Sugar Corporation (GuySuCo) estates, Finance Minister Winston Jordan said Wednesday. “The sale of the estates has been delayed partly due to the political side because nobody is expressing interest when the opposition (People’s Progressive Party) says ‘we are going to review sales and ...

Finance Minister, Winston Jordan on Wednesday projected a 4.5 percent growth in Guyana’s economy for this year, five straight years of continuous growth compared to the Bharrat Jagdeo-led administration. Speaking at the presentation of the 2019 mid-year report, he said this year’s growth rate has been revised again. Originally, the projection was 4.6 percent but that was adjusted downward to ...

Former Foreign Minister Carl Greenidge has confirmed that the Guyana government does not favour direct cash transfers into the hands of ordinary Guyanese on the grounds that it will encourage unemployment, a position that was roundly rejected by Chairman of the Buxton First of August Movement (FAM-Buxton), Professor David Hinds. “I don’t know that one can give a definitive answer ...

Director of the Department of Energy, Dr. Mark Bynoe, Monday morning, announced that the UK-based Tullow Oil Plc wholly owned subsidiary Tullow Guyana B.V. discovered oil in commercial quantities. The oil was found in the Jethro-1 exploration well, drilled in the Orinduik Block offshore Guyana. The Jethro-1 well was drilled by the Stena Forth drillship to a total depth of ...

Giftland on Tuesday called on Guyana Power and Light Inc. (GPL) to disclose the reasons for so far failing to ink a deal for purchasing at least 3 megawatts (MW) of electricity, but the utility company said it was surprised at the private power producer’s stance because proposals have been dispatched and some technical work has been done. “We look ...

The Caribbean Court of Justice (CCJ) on Tuesday delivered a judgement which upholds the classification decision of the CARICOM Council for Trade and Economic Development (COTED) on cement, known as Rock Hard Cement, imported and/or distributed within CARICOM by Rock Hard Cement (Rock Hard Distributors Limited) and, Mootilal Ramhit and Sons Contracting Limited. These proceedings in the CCJ’s Original Jurisdiction ...

At least one spectator of the West Indies v India 20/20 match was sold a ticket for a non-existent seat at the Guyana National Stadium, Providence, East Bank Demerara. An Attorney-at-Law and rights activist said his ticket had designated him to occupy seat 28, but when he turned up there was no such seat as row 21 only has seats ...

Attorney General Basil Williams Monday night said President David Granger would remain in office and call elections if the opposition People’s Progressive Party Civic (PPPC) refuses to give its parliamentary support to extend the timeframe within which general elections must be held following last December’s no-confidence motion. “Let’s assume they don’t go and get the two-thirds extension…We have always argued ...

Attorney General, Basil Williams on Monday sought to downplay the fallout from the now eight-month old no-confidence motion on Guyana’s business climate, even as two prominent opposition-aligned lawyers forecast a rough period. Speaking during a panel discussion organised by the American Chamber of Commerce Guyana (AMCHAM-G) on the topic “The implication of the CCJ (Caribbean Court if Justice) Consequential Orders ...

ExxonMobil Guyana has provided some GYD$15 million to Specialists in Sustained Youth Development and Research (SSYDR Inc.), a not-for-profit organization, to roll out a job readiness programme in several communities across the country. Employment Attack 102, is a summer camp geared at preparing young persons including early school leavers for the job market. Speaking at a press conference at the ...