Business

by GHK Lall The Demerara Waves Online News article dated October 9 titled, “Bank of Guyana probe uncovering reasons for US notes shortage at cambios” covered a lot of territory. In many respects, it has been fiercely contested territory. The focus and thrust of the Demerara Waves item were on the role of nonbank cambios in the ongoing foreign currency ...

A probe by the Bank of Guyana and other supervisory agencies into the shortage of United States (US) dollars at non-bank cambios has already raised some red flags, but Finance Minister Winston Jordan has declined to divulge details. Jordan said so far the investigations have shown that at least two non-bank cambios “have really caused this problem”. “Our investigation is ...

Despite raking in more than GYD$500 million from Guyana’s emerging oil and gas sector, the National Insurance Scheme (NIS) is being encouraged to invest some of its monies on the international stock market as it grapples with paying pensions amid declining contributions. Chairman of the NIS Board, John Seeram told a 50th anniversary observance at the Brickdam-based headquarters that the ...

President David Granger on Wednesday sought to dispel concerns that he is opposed to direct cash transfer of some oil revenues to Guyanese, even as the Working People’s Alliance (WPA) signaled that it was ready to modify its proposal with other political parties in A Partnership for National Unity (APNU) whenever those talks begin. “There has been a lot of ...

A man died early Tuesday morning in an accident at an Australia-owned Troy Resources Guyana Inc gold mining pit, Minister of Natural Resources, Raphael Trotman said. Sources identify the dead man as Ryan Taylor. He worked in the geology section of Troy Resources. The company said early indications are that the incident occurred at 2:25 am on the night shift ...

The Guyana Bank for Trade and Industry Limited (GBTI) says it has generated almost GYD$2 million through the GBTI Hurricane Relief Fund – Bahamas. That fund began shortly after Hurricane Dorian ravaged sections of the Bahamas early in September. The Bank says it immediately committed GYD$3 million and encouraged its customers, staff and members of the public to join the ...

Two radio and television stations closely associated with the opposition People’s Progressive Party (PPP) want the High Court to find that their constitutional right to freedom of expression has been violated by a hearing committee of the Guyana National Broadcasting Authority (GNBA) which they say has not been legally constituted. Through their lawyers – Mohabir A. Nandlall, Marcia Nadir-Sharma, Manoj ...

The opposition People’s Progressive Party (PPP) on Thursday virtually endorsed the Working People’s Alliance’s (WPA) proposal of direct cash transfer of some projected oil revenues, but preferring to target the poor and needy instead of all just over 200,000 households across Guyana. “In fact, in our manifesto, we are going to be talking about conditional transfers, targeted transfers to vulnerable ...

The Guyana government on Wednesday unveiled 31 new standards to regulate the importation and sale of electrical installation items and equipment. During the launch hosted at the Umana Yana in Kingston, Georgetown the participants were told that the new standards will be used as a threshold to commence monitoring of the importation of electrical equipment. The equipment which will now ...

The Guyana Telephone and Telegraph Company (GTT) rolled out its 4G LTE mobile service to customers on Wednesday in selected areas of Guyana, saying it needed more spectrum to provide that upgraded mobile internet service for both 4G LTE and 5G. Speaking at the public launch of the service, which is available in Demerara and New Amsterdam, Minister of Public ...