Business

Finance Minister Winston Jordan on Wednesday announced that the value added tax (VAT) is likely to be reduced to 12 percent as part of an overall package of tax reductions and concessions on building materials and certain productive sectors. Jordan, who has been on the 2020 election campaign trail, told a sod-turning ceremony for two internationally-branded hotels, that corporation and ...

Finance Minister Winston Jordan on Wednesday boasted that Guyana’s economy last year grew by 4.7 percent despite poor performances in traditional sectors, and that investors continue to ink concrete deals regardless of the political environment. Addressing the symbolic start of the construction of two major hotels on 10 acres of land at Ogle, East Coast Demerara, he said last year’s ...

First Bauxite LLC (FBX) has indicated to government that it would build an aluminium smelter in Guyana if natural gas, a cheap source of electricity generation, could be brought from hydrocarbon fields located offshore, Finance Minister Winston Jordan said. “They said if we can bring natural gas in sufficient quantities, they are prepared to put a smelter right there in ...

Guyana is this year expected to lift and sell five million barrels of crude oil being extracted from the Liza-1 well from the ExxonMobil-led consortium under the banner of Esso Exploration and Production Guyana Limited (EEPGL), Director of government’s Department of Energy, Dr Mark Bynoe said Tuesday. “I am happy to say that Guyana is entitled to approximately five million ...

Guyanese workers at Bosai Minerals Group (Guyana), a bauxite company in Linden, are concerned about the arrival of at least five Chinese from mainland China who have since been quarantined in their rooms as a precaution against the potentially deadly coronavirus (Covid-19). However, Bosai General Manager, Eric Yu said the Chinese nationals, who are from Chongqing, passed through Germany where ...

At least 20 people are now without a job as a result of a fire that early Monday morning gutted a three-storey store on Regent Street, Georgetown. The owner of the Sachi store, Ta Fen, told reporters that he was alerted about the fire at about 2:30 this morning. No one was in the building at the time. Firefighters, who ...

The Guyana Sugar Corporation (GuySuCo) on Monday said it offered field and factory workers a 5% increase in wages and negotiations are continuing with the Guyana Agricultural and General Workers Union (GAWU). Refuting a report in the pro-opposition PPP Guyana Times newspaper that GuySuCo’s offer was around one percent, the state-owned sugar corporation said that on February 7, 2020, it ...

Triniyuana, a recently registered company in Guyana, has purchased 2.61 acres of “prime” land at Ogle, East Coast Demerara for more than GYD$52 million to build an AC Marriott-branded hotel. Privatisation Specialist at the National Industrial and Commercial Investments Limited (NICIL), Rachael Henry says the land was sold at more than GYD$26 million per acre, higher than the valuated price. ...

The pilot of a single-engine Thrush Commander-model aircraft survived after his agricultural plane flipped several times on landing at an airstrip at Mahaica Abary Rice Development Scheme (MARDS) on Wednesday, a senior Guyana Civil Aviation Authority (GCAA) official said. GCAA Deputy Director-General, Saeed Suliman told News-Talk Radio Guyana 103.1 FM/Demerara Waves Online News that the airstrip has since been ordered ...

The baggage scanner at the Eugene F. Correia International Airport is about to be repaired, now that spare parts have arrived from China. Airport spokesman, Kit Nascimento says the spares arrived without all of the documents and so they were held up at customs. However, they were due to be released on Tuesday or Wednesday. Mr. Nascimento says the Chinese-made ...