Business

About three hours after the Bank of Guyana said it would be pressing Republic Bank Guyana to compensate customers for inconvenience stemming from an upgrade of its system, the Trinidad-headquartered financial institution said it had days ago already decided to do so. “Importantly, at the Bank’s Annual General Meeting on December 9th 2019, Chairman, Nigel Baptiste, announced that the Bank ...

Guyana’s central bank, the Bank of Guyana, on Wednesday formally took over responsibility for managing the Natural Resources Fund also known as the sovereign wealth fund (SWF), even as Guyana awaits word from the Federal Reserve Bank of New York (or the New York Fed) on due diligence where the monies will be deposited. Governor of the Bank of Guyana, ...

The Guyana government will shortly begin remapping the country for the first time in 50 years to give prospective and current land users a better idea of location, resources and features, officials said. Commissioner of the Guyana Lands and Survey Commission (GLSC), Trevor Benn says an US$18 million project was approved by the National Procurement and Tender Administration. Mr. Benn ...

Four employees of the Guyana Lands and Survey Commission (GLSC) were dismissed this year for corrupt practices, a senior official of that semi-autonomous state agency said Monday. GLSC Human Resources Manager, Shonda James-Williams says the employees were fired because they had privately collected monies and promised to issue lands to potential clients of the commission. “We had about three employees ...

The United States (US) will have to ensure that the opposition People’s Progressive Party (PPP) sticks to its promises to keep a lid on corruption, with the likelihood of that party winning next year’s general elections, a senior advisor at the US State Department asserts in a recent assessment of the political and security situation. “At the same time, given ...

(Kenya Broadcasting Corporation) Ambassador Georges Rebelo Pinto Chikoti, from Angola, is named the new Secretary General Designate of the Africa, Caribbean and Pacific (ACP) Group of States. Ambassador Pinto — who was picked from among three candidates: an Angolan, a Zimbabwean and a Mozambican — is succeeding Mr. Patrick I. Gomes, a former deputy from Guyana. Ambassador Pinto will be ...

The Guyana Telephone and Telegraph Company (GTT) on Friday offered a GYD$5 million reward for information leading to the arrest of anyone involved in the vandalisation of its fibre optic cables on the Linden Highway recently. The illegal act resulted in widespread service disruptions, the company said. On November 30, GTT said it received numerous reports of loss of services ...

Tourism executives are banking on Guyana’s listing by Condé Nast Traveler, a premier travel magazine, as one of the top 20 places to visit next year to further boost the sector which has so far raked in more than GYD$60 billion dollars annually. Director-General of Tourism, Donald Sinclair told a domestic Regional Tourism Committee Forum that many of the ecotourism ...

A passenger aboard a Guyana-bound Caribbean Airlines (CAL) flight died, forcing the flight to divert to Puerto Rico and causing other passengers to suffer a more than five-hour delay to their destination, sources said. The CAL BW521 flight left New York at 7:06 a.m. but the passengers destined for Guyana did not reach their final destination until 10:05 p.m. That ...

The Director-General of the Department of Tourism, Donald Sinclair on Thursday called for less rum-drinking and a greater focus on culture at festivals across Guyana’s ten administrative regions. He issued the call at a regional tourism forum at which regional tourism committee representatives presented their reviews for 2019 and were informed about plans for 2020. “Too many festivals are just ...