Business

The Guyana Sugar Corporation (GuySuCo) on Tuesday denied accusations that it has not been accounting for more than GYD$7 billion disbursed from a GYD$30 billion bond, and insisted that it does not have to report to government’s holding company for state assets. GuySuCo’s Chief Executive Officer, Dr. Harold Davis Jr., in an initial reaction pending a comprehensive response to claims ...

The National Industrial and Commercial Investments Limited (NICIL) on Monday said holders of a GYD$30 billion bond to help revive the Guyana Sugar Corporation (GuySuCo) have begun asking questions about how the State-owned corporation has spent GYD$7.4 billion dollars disbursed so far. “The bondholders and the trustees are not happy with the information coming from NICIL,” Head of NICIL, Colvin ...

In the wake of concerns about how a gold miner, who had been held with 30 pounds of raw gold, eventually got a dealer’s licence, an independent review of the nine licencees shows that none of them benefited from favouritism by the Guyana Gold Board (GGB). “We are satisfied that none of the applicants appear to have been given special ...

The Guyana Gold Board (GGB) on Monday confirmed that a gold dealer’s licence was issued to Adolphus Mining Inc. after checks and verification were done on one of the company’s principals in whose possession a large quantity of raw gold had been found. The Board also confirmed that television reporter, Travis Chase is a director of the company which was ...

Residents of the town of Mahdia, Potaro-Siparuni (Region 8) were Friday battling severe flooding caused by extremely heavy rainfall, resulting in the Civil Defence Commission (CDC) considering opening shelters for affected residents and rushing in relief supplies. Director-General of the CDC, Colonel Kester Craig said cleaning supplies were being rushed to the gold mining-dependent town as the water level has ...

The Georgetown City Council on Wednesday agreed to cancel a contract for cleaning Bourda Market, after concerns were raised that the municipality could not afford to pay GYD$2 million per week, despite suggestions that negotiations continue for a lower fee. None of the councillors voted against the call to cancel the contract with Dartmouth Skips Rental after Mayor Ubraj Narine ...

ExxonMobil Guyana has partnered with the Silver Sands Sports Club in Waramuri Village, Barima-Waini, (Region One), to refurbish the recreational ground in the community, the company said in a statement. The facility was commissioned last Saturday. President of Silver Sands Sports Club, Rowena Williams said this has been a dream of several senior citizens of Waramuri. She remarked that the ...

Guyanese politicians were Tuesday urged to stop promising jobs to youths and instead find real solutions such as financial support for job seekers and volunteerism to grapple with the unemployment crisis facing the country’s largest voting block. The calls were issued by several panelists at a round-table discussion on “youth unemployment” that was organised by the Ministry of the Presidency’s ...

Guyana is not expected to pay a huge guaranteed subsidy to the Antigua-headquartered regional airline, LIAT (1974) Limited because a significant number of travellers continue to fly to and from this destination, an airline spokesman said Monday. The disclosure was made even as Barbados indicated that it was willing to sell its shares in the cash-strapped regional carrier that serves ...

In the wake of a spate of violent robberies in East Berbice, three suspected bandits were Sunday afternoon shot dead, police said. Police Commissioner Leslie James confirmed that three men were shot and four guns were recovered during the confrontation. Sources said those killed include Ramnarine Jagmohan, who was recently released from jail on a murder charge, Kevin Shivgobin who ...