Business

Even as President Irfaan Ali announced- to mark Guyana’s 55th Independence Anniversary- that “every” Guyanese are poised to benefit from the country’s immense oil wealth, Opposition Leader Joseph Harmon warned against the oil sector being used as a tool of oppression. In an address to mark the occasion at a flag raising ceremony held near the Umana Yana in Kingston, ...

President Irfaan Ali and Vice President Bharrat Jagdeo on Saturday said that Guyana’s sovereign wealth fund would be restructured to spend the ‘oil money’ on significantly improving the country’s social and physical infrastructure. “That is the stage we are in now- giving Guyana that opportunity to become competitive, giving us the people of Guyana the opportunity to get world-class services, ...

Finance Minister Dr. Ashni Singh on Saturday virtually ruled out the Guyana government establishing a State-owned airline once again. “It is not currently on the agenda to establish a state-owned airline,” he told a trade and investment forum at the the Inaugural Diaspora Conference. He noted that a government investing a State-owned airline is too risky, citing the example of ...

Vice President Bharrat Jagdeo on Friday announced that government has reached settlements with three City businessmen concerning land sales under the previous APNU+AFC government. He said agreements have been struck with Car Care, Cevon’s Waste Management and Courtney Benn Construction. “We don’t want to penalise unsuspecting businessmen,” he told a news conference. He indicated that government would drop those cases ...

The Guyana National Bureau of Standards (GNBS) has burned 290,000 packets of cigarettes in Lethem because they were poorly labelled, that agency said Tuesday. The regulatory agency said its Product Compliance Department ordered the destruction of 290 cases, containing 290,000 packs,  of imported cigarettes. GNBS explained that the cigarettes, which were branded US Mild 1 and imported by a city ...

The Guyana government plans to address concerns and explore trade and investment opportunities that are available to overseas-based Guyanese, who are interested in participating in Guyana’s development, at this weekend’s inaugural Diaspora conference, Foreign Secretary Robert Persaud said Monday. “It is covering those broad areas but they speak to the issues of concern and relevance to members of the Diaspora,” ...

The World Wildlife Fund, a global environmental conservation watchdog, is calling for a “full environmental and social assessment” of Guyana’s oil and gas sector, in the wake of recent controversies surrounding the clearing of mangroves along the west bank of the Demerara River. “Such an assessment will give decision-makers and the public-at-large an objective view of the  range of impacts ...

The Food and Agriculture Organisation (FAO) wants the Caribbean to become more analytical in its drive to improve agriculture and food security in the region, even as Guyana promised to play a leading role in regional self-sufficiency. The FAO’s sub-regional Coordinator, Dr. Renata Clarke issued the call at the formal opening of that United Nations agency’s office at La Bonne ...

ICON LNG Guyana, Inc. (ICON LNG) has announced that it has achieved a  milestone in Guyana with the importation and delivery of its 100th ISO container of liquefied natural gas  (LNG). LNG is a reliable and environmental friendly fuel that is quickly replacing coal, heavy fuel oil and  diesel as the world’s demand for clean, safe and affordable energy supplies ...

The builders of a concrete batching factory at Houston Estate, Greater Georgetown have finally heeded cease-and-desist orders, Housing Minister Collin Croal said Wednesday. Referring to a report by the Chief Executive Officer of the Central Housing and Planning Authority (CH&PA), Sherwin Greaves, the Minister said the builders have begun demobilising their equipment from the site. “There is visible evidence of ...