Business

Retrenched workers from  the four sugar estates should be consulted on what could be done to satisfy their basic needs, an International Labour Organisation (ILO) study on the socio-economic impact of the closure of several estates four years ago has recommended. “Quite apart from the fact that there was limited stakeholder involvement and consultation in the decision to close the ...

An International Labour Organisation (ILO)-supported study on the impact of the closure of four of Guyana’s sugar estates has recommended the crafting of a strategy to withstand market volatility of commodities and gear up the sugar industry to invest in  ethanol production. The report titled “Study of the socio-economic impact of the closure of GUYSUCO sugar estates on sugar workers ...

IRVING, Texas – ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well. It was drilled ...

President Irfaan Ali on Saturday threatened to change  the local content policy if foreign companies continue coming to Guyana to offer services such as logistics, transportation similar services as those would be reserved for Guyanese. “It will not go down well. Don’t second guess (me). I am telling you openly it will not go down well. Whether you are a ...

The Guyana Gold Board is in talks with a German company to trace the origin of gold to avoid the smuggling and declaration of the precious yellow metal here from other countries, Chairman of the Gold Board, Dr. Gobin Ganga said. “I would imagine just the same way we can detect counterfeit, they will be able to detect if there ...

Businesses and homes in the the south-western Guyanese town of Bartica in Region Seven (Cuyuni-Mazaruni) were Wednesday under several inches of  flood waters, officials said. Mayor Gifford Marshall said the situation was forecast to worsen by extremely high tides. “As a consequence of the intense rainfall, we have noticed flooding in all of the constituencies,” he said. Mr. Marshall said ...

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 ...