Business

Hours after Chief Magistrate Ann McLennan threw out a contempt of court case against top executives of the Guyana Bank for Trade and Industry (GBTI), that financial institution said it was unnecessarily targeted. “While this unwarranted attack and abuse of power was not without severe and widespread consequences to the sterling institutional image and that of the personal reputation of ...

The Guyana government and a major Japanese solar energy company last week opened talks on constructing a renewable energy power plant in Guyana. Last Friday, a group of investors from the United States, Japan, Korea, the Malaysian Group, Smart City Clearing Corporation, and Capital Fund met with the Ministry of Public Infrastructure’s Chief Executive Officer of the Hinterland Electrification Company ...

The Ethnic Relations Commission (ERC) dodged questions about how much money was paid for a stage play without possibly going through a procurement process. Sources said as much as GYD$3.5 million was paid to ERC Commissioner Neaz Subhan, but he declined to comment on how much it cost the ERC for the play, “I AM US”, that he wrote in ...

Britain on Monday called on Guyana’s political leaders to find a solution to resolve the looming political crisis as the 90-day timeframe within which General and Regional Elections should be held following last December’s no-confidence motion runs out on Thursday. British High Commissioner to Guyana Greg Quinn made it clear that he was not about to interpret this country’s constitution. ...

The Barbados and Guyana stock exchanges on Friday inked a memorandum of cooperation, paving the way for listed companies to trade in each other’s countries. “The two key areas of interest identified in our preliminary discussions have been that of institutional strengthening and the cross listing of securities,” Managing Director of the Barbados Stock Exchange (BSE), Marlon Yarde said at ...

Residents of more than 27 villages along Belfield, East Coast Demerara, to Rosignol, West Coast Berbice, can look forward to improved road access and connectivity as the Ministry of Public Infrastructure (MOPI) moves to start a technical and economic feasibility study for the redesign of the road network. The redesign feasibility study for that stretch of the road will be ...

The management of United Company Russian Aluminium (UC RUSAL)-controlled Bauxite Company of Guyana Incorporated (BCGI) on Monday decided to recognise the Guyana Bauxite and General Workers’ Union (GB&GWU), paving the way for the two sides to open negotiations on outstanding grievances. “The issue of recognition is not on the table. The company has made it clear that this is the ...

Caribbean Airlines Limited (CAL), which late last year inked a deal to buy several Boeing 737 MAX-8 planes – the same model used by the Ethiopian Airlines that crashed and killed 157 persons aboard – on Monday said it would abide by strict safety measures before adding new aircraft to its fleet. “Caribbean Airlines will incorporate the procedural and training ...

Attorney-at-law and Chartered Accountant, Christopher Ram on Friday asked the High Court to block the award of government contracts worth more than GYD$15 million. Through his lawyers, including Anil Nandlall, Ram also wants the High Court to declare that all such contracts that were awarded since the no-confidence motion was passed on December 21, 2o18 were “unconstitutional, unlawful, null, void ...

The Guyana government and the Guyana Telephone and Telegraph Company have inked a memorandum of understanding for the government’s planned liberalisation of the telecommunications market, but no date has been set for this to be realised. “The MOU, while non-binding, represents a major step toward fully liberalizing Guyana’s telecommunications market. The parties have further agreed to continue discussions on all ...