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Irfan Ali arrested and charged; to appear in court

Former Minister of Housing, Water and Tourism in the People’s Progressive Party Civic (PPPC)-led administration, Irfan Ali was early Wednesday morning arrested by agents of the police force’s Special Organised Crime Unit, multiple sources confirmed. The sources said he has been charged and he is expected to be arraigned before a City magistrate some time Wednesday. SOCU agents arrived at ...

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Guyana govt worried about Republic Bank’s potential market dominance

The Ministry of Finance is concerned about Republic Bank’s likely dominance of the banking sector, in the wake of Tuesday’s announcement of a buy-out of Scotiabank’s operations in Guyana and several other Caribbean countries. “The agreement raises a number of issues for the banking sector in Guyana and for the public which the Ministry of Finance, the Bank of Guyana ...

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Republic Bank takes over Scotiabank’s operations in Guyana, other Caribbean countries

Port-of-Spain, Trinidad: Tuesday November 27, 2018 – Republic Financial Holdings Limited (RFHL) on Tuesday announced that it has entered into an agreement to acquire Scotiabank’s banking operations in Guyana and several other Caribbean countries. The other Scotiabank operations in the takeover are in St. Maarten and the Eastern Caribbean territories, including Anguilla, Antigua and Barbuda, Dominica, Grenada, St. Kitts and ...

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“Visionless” 2019 budget big on taxes, low on investment and welfare- Jagdeo

Opposition Leader, Bharrat Jagdeo on Monday assailed government’s 2019 National Budget moments after Finance Minister, Winston Jordan delivered a GYD$300 billion package of revenues and expenditures. ‘We can’t support this budget, not in its current form,” Jagdeo said, adding that the opposition People’s Progressive Party (PPP) had expected government to take into consideration its concerns and the pending no-confidence motion. ...

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Cigarette smokers to pay more

Cigarette smoking in Guyana will next year cost cost more as Finance Minister, Winston Jordan announced on Monday a raft of taxes on the tobacco product. He told the 65-seat National Assembly, in presenting the 2019 National Budget, that the “new regime for taxing tobacco” would include a specific Excise Tax of GYD$$2,500 per 1,000 sticks, together with Customs Duty of ...

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Major tax threshold reductions, exemptions in 2019- Finance Minister announces in GYD$300 billion budget

Finance Minister, Winston Jordan on Monday announced increases in the thresholds of property tax returns for individuals and companies as part of an ongoing tax reform plan. The 2019 budget is GYD$300.7 billion, 12.6 percent increase over 2018. Real Gross Domestic Product in 2018 is projected to be 4.6 percent compared to an expected 3.4 percent for this year. Inflation ...

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Guyana further strengthens forestry governance; prepares for licensing process

Guyana is preparing for domestic negotiations among several stakeholders to address several aspects of forestry governance before licences are issued, now that a Voluntary Partnership Agreement (VPA) with the European Union has been signed, authorities said. The VPA seeks to improve the application of forest laws, strengthen forest governance and promote trade in legal wood products. Representatives of Guyana and ...

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Deal signed to boost local accountants, auditors for oil and gas sector

The American Chamber of Commerce (AMCHAM) Guyana and the Association of Chartered Certified Accountants (ACCA-Caribbean) on Monday signed a memorandum of understanding to equip Guyanese with the right set of skills for the emerging oil and gas sector, officials said. The two-year agreement, which was signed by AMCHAM Guyana President, Zulfikar Ally and Head of ACCA Caribbean, Shelly Ann Mohammed. ...

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Guyana advised to conduct high-tech mapping, valuation of resources

Guyana is being urged to conduct high-tech integrated mapping to locate and value existing and new mineral resources for effective planning and future investment, a senior official of a geospatial survey company says. “One of our objectives in providing the tools to allow informed governance is to give a picture of the resource wealth of the nation. We can identify ...

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