Business

Company commits to strengthening the community by embracing women entrepreneurship The Guyana Telephone and Telegraph (GTT) announced its support towards the HerVenture app’s efforts to reach and develop women-led businesses.  The technology giant’s decision to collaborate with the Cherie Blair Foundation for Women, based in the UK, and ActionINVEST Caribbean, in Guyana, stems from their promise to the customer to ...

Agriculture Minister Zulfikar Mustapha says the severe floods earlier this year resulted in the State-owned Guyana Sugar Corporation (GUYSUCO) spending GY$2.3 billions of dollars that had been originally allocated in the 2021 National Budget for out-of-crop maintenance, pensions, union dues and other expenses. He told the House Committee of Supply, under persistent grilling by Shadow Home Affairs Minister Khemraj Ramjattan, ...

Reproduced from OE Digital Canadian-based firm Frontera Energy, the majority owner of CGX Energy and its partner in the Corentyne Block offshore Guyana, has informed that the Kawa-1 exploration well, spudded in the block in August, has encountered hydrocarbon presence. Also, the drilling at Kawa-1, being carried out by Maersk Discoverer semi-submersible drilling rig – is taking longer than initially expected with ...

Guyana’s Local Content Bill, if passed in its current form, will require oil sector companies to competitively bid for the supply of goods and services, even as it specifies quota for Guyanese companies and Guyanese individuals. “A Contractor, Sub-Contractor or Licensee shall award a contract on the basis of a competitive bidding procurement procedure that has been initiated by a ...

The European Union (EU) on Wednesday raised concerns about the pitfalls of borrowing from China to finance and build major infrastructural projects. Deputy Managing Director for Americas, European External Action Service Mr Javier Niño Pérez, during a question and answer session at the University of Guyana, disagreed with those who say that China offers better conditions. He said China would ...

Residents of Non Pareil, East Coast Demerara area on Saturday warmly welcomed GTT Fibre to their community as the Guyana Telephone & Telegraph (GTT) company rolled out its keenly anticipated Fibre broadband service, the company said. GTT’s Chief Operations Officer for Home Solutions & Fixed Services, Eshwar Thakurdin said, given the advantages to subscribers including more bandwidth and faster internet ...

A supervisor of Kissoondyal Enterprise Inc’s rice mill was Friday allegedly robbed of GY$3.4 million that should have been used to pay workers and rice farmers, police said. The woman told police that the incident occurred on Friday shortly after she arrived at the Mahaicony, East Coast Demerara-based rice mill with the cash from a bank in Georgetown. “On arrival ...

Vice President Bharrat Jagdeo on Thursday announced that a board would be part of a new system  to manage  Guyana’s oil revenues under a simplified Natural Resources Fund (NRF) Act, in an effort to strip the process of ministerial influence. In announcing that proposed amendments to the Natural Resource Fund (NRF) Act would be laid in the National Assembly on ...

Guyana has given ExxonMobil permission to examine the possibility of capturing carbon that is responsible for climate change, Vice President Bharrat Jagdeo announced Thursday night. Addressing the Georgetown Chamber of Commerce and Industry’s (GCCI) 2021 awards dinner, he said, “carbon capture- Exxon has sought permission and we have given that permission to do a study on carbon capture.” He did ...

Minister of Natural Resources Vickram Bharrat on Thursday defended government’s decision to allow small-scale gold mining at Marudi Mountain, South Rupununi, saying that residents had lobbied government as a means of earning a living. “We, as a government, we need to strike a balance somehow or the other because our people need to be gainfully employed, our people need to ...