Business

A vehicle that was assigned to ExxonMobil Guyana’s President, Alistair RoutledgeAlistair Routledge, was shot at and disabled by the owner of Cyril’s Transportation Service, after he thought it was one of two stolen vehicles, police said. Police said 54-year-old Muishankar Persaud’s licenced 9mm Glock pistol was lodged and he was assisting police with their investigations into the incident that occurred ...

Guyana on Thursday said there was no room for negotiations with Canadian co-venturers, Frontera and CGX Energy, over the Corentyne block because the licence has expired. Vice President Bharrat Jagdeo told a press conference that nothing requires government to formally inform the CVs that their licence to the 6,200 square kilometer Corentyne block has expired. He made known government’s position ...

The Environmental Protection Agency (EPA) says the recent seepage of a smelly substance from the ground at several houses in Crane village, West Coast Demerara, was partly due to poor construction, had nothing to do with oil and gas and there are no risks. “Expert advice provided to the EPA by other local agencies attributed the damages seen on the ...

Beset by low production, high operational costs, the loss-making Guyana Sugar Corporation (GuySuCo) signed a three-year wages and salaries agreement with the Guyana Agricultural and General Workers Union (GAWU). The union said in a statement that GuySuCo workers would receive a 10 percent pay hike retroactive to January 1, 2024; 8 percent for 2025 and 9 percent for 2026. GAWU ...

A Guyanese start-up airline, Jet Global Services (Guyana) Inc., has clinched a deal with Bulgaria-headquartered GullivAir and the Switzerland-based LunaJets to offer Guyanese and oil sector workers another option to connect to neighbouring Brazil, the Caribbean and North America. “As Guyana becomes a significant player in the global oil market, the demand for a reliable, affordable international airline has never ...

Guyana and Suriname have selected China Road and Bridge Corporation to construct the 1.1 kilometre bridge across the Corentyne River to link the two countries, Minister of Public Works Juan Edghill said Sunday. “China Road and Bridge has been the preferred evaluated bidder that has been agreed on by both countries,” he told Demerara Waves Online News. Mr Edghill said ...

Opposition-nominated member of the Investment Committee of the Natural Resources Fund (NRF), Dr Terrence Campbell on Sunday said he would be formally asking the Board to explain why transfers of oil revenues to the Consolidated Fund are done without specific information from government about how the monies would be spent. “It’s not off the table,” when asked whether legal action ...

The Alliance For Change (AFC) would be writing the Board of the Natural Resources Fund (NRF) to get answers about government’s failure to say specifically how oil revenues would be spent by the government, party leader Nigel Hughes said Sunday. “The Citizens of Guyana demand to know how their patrimony is being managed and disposed of,” he said. No date ...

The Guyana government might re-establish a development bank between 2025 and 2030 and co-invest in the construction of a deep-water port, Vice President Bharrat Jagdeo announced Thursday. He told the Guyana Manufacturing and Services Association’s (GMSA) annual awards ceremony that the planned financial institution would offer financing for small- and medium-sized businesses. “At some point in time, we may return ...

A member of the Natural Resources Fund (NRF) Investment Committee believes that government should list how it intends to spend oil revenues before the money can be transferred to the consolidated fund, but Vice President Bharrat Jagdeo on Thursday resisted the idea and said accountability rests with the National Assembly. “What sense does it make?…So next year, should we start ...