Business

The Shipping Association of Guyana (SAG) on Friday said it was preparing to appeal a decision by the Competition and Consumer Affairs Commission (CCAC) in which five shipping terminal operators were guilty of fixing prices for hauling shipping containers and fined a total of GYD$19.2 million. “The CCAC’s ruling is not consistent with the facts and the SAG is engaging legal ...

Reproduced from Milbank Monitor Tullow Oil has brought forward its drilling programme in Guyana, where ExxonMobil has racked up discoveries of billions of barrels. The Dublin-listed company originally planned to start drilling wells at the end of this year, but is now set to begin in the second quarter because of the excitement over Exxon‘s nearby discoveries, Tullow CEO Paul ...

The Governor of the Bank of Guyana, Dr. Gobin Ganga, has assured that there is no shortage of foreign currency to transact international business such as wire transfers, but there are fewer United States (US) notes circulating at cambios and commercial banks partly because the increasing number of foreign workers are buying up the bills. “There is an increase in ...

The Competition and Consumer Affairs Commission (CCAC) has ruled unanimously against the Shipping Association of Guyana (SAG) in a price fixing case brought by a privately-owned transportation service, that regulatory agency said Tuesday. The CCAC’s decision brings to an end proceedings stemming from a 2017 complaint against SAG by businessman Mahindranauth Jaikarran, owner of JD Transport Services. The complainant provides haulage ...

As Guyana prepares its first Extractive Industries Transparency Initiative (EITI) report on monies spent by 35 petroleum and mining companies and received by government, a UK-based firm that has been hired to match earnings and expenses says the companies will be asked to authorise the Guyana Revenue Authority (GRA) to release confidential tax information. Hired independent administrator for Guyana’s EITI ...

Guyana is moving full steam ahead to award more oil concessions, but this time it would be done through a competitive system instead of striking one-on-one deals, Head of the Ministry of the Presidency’s Department of Energy, Dr. Mark Bynoe announced Monday. “This is likely to be a bid round” Bynoe told a press conference he shared with British oil and ...

The international call centre, Teleperformance, is about to occupy the long vacant six-storey building at Camp and Lamaha Streets, the owner Neil Sooklall said Saturday. He told Demerara Waves Online News that he understands that the corporate offices of the France-headquartered call centre would be occupying all the flats of the concrete building. Sooklall said Teleperformance has rented the building ...

The Guyana Rice Development Board (GRDB) says no Cinderella-branded rice has been shipped to Jamaica for the year and is surprised by reports that 70 metric tonnes of the Guyanese grain have been seized by authorities on that Caribbean island. GRDB Deputy General Manager, Allison Peters said rice shipments directly from Guyana to Jamaica usually take about seven to 10 ...

Reproduced from Jamaica Observer KINGSTON, Jamaica — The Food Storage and Prevention of Infestation Division (FSPID), in the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) says it has confiscated 70 metric tonnes (1,575 bags) of White Cinderella rice from Guyana due to high microbial content. The rice, valued at approximately $4.6 million, was imported from Guyana by a local ...

The Guyana Revenue Authority’s (GRA) enforcement agents on Wednesday intercepted a shipping container of liquor said to be valued at more than GYD$15 million which a local shipping agent declared as other items, GRA Commissioner-General Godfrey Statia said. Unofficial estimates, according to other sources, put the value of the undeclared liquor at as much as GYD$40 million. Investigators are working ...