Business

The Russian Aluminium (RUSAL)-controlled Bauxite Company of Guyana Inc. (BCGI) on Monday fired 61 workers, and company representatives refused to attend a meeting summoned by the Ministry of Labour, officials said. Chief Labour Officer, Charles Ogle and General Secretary of the Guyana Bauxite and General Workers Union (GB&GWU), Lincoln Lewis said they were informed of the dismissal of the workers ...

As representatives of the Guyana Bauxite and General Workers’ Union (GB&GWU), Russian Aluminium (RUSAL) and the Ministry of Labour prepare to discuss on Monday a pay dispute and alleged violation of workers rights, the union on Sunday further complained that efforts were being made to evict them from a housing settlement near the mine site. “Workers have ignored the edict ...

A number of workers at the Russian Aluminium (RUSAL)-controlled operations of Bauxite Company of Guyana Inc. have been ordered off the mine site and a section of the operations shut down, in the wake of a strike for increased salaries, according to a document sent to aggrieved workers. In a memorandum to all members of Mining Department/Mobile Equipment Maintenance, Managing ...

President David Granger says he is “saddened” at the passing of prominent businessman, Mr. Inderjeet Beharry, popularly known as Indi Beharry, who died earlier today at the age of 78. Mr. Beharry is the son of Guyanese business magnate, the late Mr. Edward Beharry of the Edward B. Beharry Group of Companies. In 2016, President Granger conferred Mr. Beharry with the insignia of the Cacique’s Crown of Honour (C.C.H.), the ...

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 ...