Business

ExxonMobil plans to explore for oil offshore the Essequibo Region where Venezuelan gunboats had six years ago chased seismic research vessels in oil concessions that had been granted by Guyana, President of ExxonMobil Guyana, Alistair Routledge said Tuesday. “The Liza field, the last time I looked, takes you pretty close to that (equidistant) line. We plan to drill two exploration ...

President Irfaan Ali on Monday announced that a sugar refinery would be built at the Enmore Estate, East Coast Demerara which was closed in 2018. Addressing the Private Sector Commission’s (PSC) annual corporate dinner, he said an unnamed investor was about to decide on the construction of the refinery. “We have an investor, who is in the final stage of ...

The opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) has accused government of emptying the Natural Resource Fund (NRF) and increasing Guyana’s debt ceiling, but the Guyana government has defended those decisions on the grounds that was fast-tracking development for all Guyanese. After walking out of Friday’s parliamentary debate on amendment to the fiscal rules of the NRF Act ...

Vice President Bharrat Jagdeo on Thursday said government would be willing to fund improvements to the privately-owned Guyana Stock Exchange (GSE), even as he flayed the administration for being saddled with the same more than 2o-year old computerised system since its inception. “We are prepared to modernise this but it is not owned by the Government of Guyana. It’s a ...

A day after the Ministry of Education clamped down on unauthorised visits to schools, a wealthy city businessman who visited four schools across the country and donated several items, Wednesday night deemed a circular by Minister of Education Priya Manickchand “draconian”. Chief Education Officer, Saddam Hussain on Tuesday told head teachers and education officers that with immediate effect any person ...

The Guyana Stock Exchange’s (GSE) efforts to modernise its operations has hit several stumbling blocks for almost 20 years now, and this has been compounded by the fact that none of the public companies is listed on tier one of that secondary market, the GSE Chairman Nikhil Ramkarran said Wednesday. While expressing concern that he was not contacted before to ...

The United States (US) on Tuesday announced it would reimpose sanctions on Venezuela’s oil and gas sector, effectively blocking trade in those hydrocarbons  because the Nicolas Maduro administration has arrested members of the “democratic opposition” and has barred candidates from running in upcoming presidential elections. Venezuela, in response, said the US action amounted to a deliberate attempt to hit the ...

The Georgetown Chamber of Commerce and Industry (GCCI) would be working closely with the Jamaica Stock Exchange (JSE) to establish another stock exchange in Guyana geared primarily for micro, small and medium enterprises (MSMEs) to raise financing, Chamber President Kester Hutson said. “Our advocacy will extend to having a privately-led JSE established locally for our MSMEs,” he told Demerara Waves ...

The fire that Monday morning destroyed one building and damaged two others at Springlands, Corentyne was of electrical origin, the Guyana Fire Service said Monday. “The fire’s purported cause was the overheating of energized electrical appliances, resulting in arcing and sparking that ignited nearby combustible materials,” the GFS said of the blaze that occurred shortly after 9 AM. The two-storey ...

City Mayor Alfred Mentore on Tuesday sought to justify his position that vending would be allowed outside Muneshwer’s store on Water Street opposite Bounty Supermarket, although there is a High Court order prohibiting the placement or leaving of objects on the pavement and on streets nearby. “As long as nothing is left but persons are there overseeing whatever they bring ...