Business

Japan is funding a US$17 million renewable energy project in Guyana that would see an improvement of the capital’s electricity generation system and the introduction of a solar energy system at the locally-based headquarters of the Caribbean Community (CARICOM). Foreign Affairs Minister, Carl Greenidge made the announcement at the signing of the agreement for the the introduction of renewable energy. ...

Government’s interim management committee on Wednesday took back control of the Guyana Public Service Cooperative Credit Union, after the High Court threw out previous orders. The original management committee, which has come under wide-ranging scrutiny for the way it has been running the affairs of the financial institution, had secured an  interim order to remove the government-appointed interim management committee. ...

Preparations are being stepped up for the October staging of a major Green Guyana Expo and International Business Summit to be co-hosted by several government ministries, State agencies and international organizations including the Inter American Development Bank (IDB), the World Wildlife Fund (WWF) and others. The two-day event to be held at the National Stadium, Providence is being organized to ...

As the Guyana government prepares to establish a Law Reform Commission, it has already hired support staff members and paying a rent totalling GY$2.6 million monthly, Attorney General and Minister of Legal Affairs Basil William said Monday. “The Law Reform Commission is in the final stages of readiness. Persons have been interviewed for the position of Commissioners. Some staff for ...

Opposition People’s Progressive Party (PPP) parliamentarian, Juan Edghill on Monday appeared far from perturbed about Finance Minister, Winston Jordan’s GY$200 million lawsuit for “malicious prosecution”, saying the case never reached the courts for a determination. “If I will lose the case? There is no case! If what you’ve reported that the Minister is suing me for malicious prosecution; the minister ...

One hundred retrenched sugar workers and young people from Berbice are the inaugural batch of the Industry Skills Training Enhancement Programme (IN-STEP). Minister of Natural Resources, Raphael Trotman, officially launched the IN-STEP programme at the GuySuCo (Guyana Sugar Cooperation) Training Centre, Port Mourant, today. “We know that many of you are afraid many of you are worried. We are here ...

Guyana has been receiving seismic data and verifying the amount of oil being discovered and the wells that are not commercially viable, the Commissioner of the Guyana Geology and Mines Commissioner, Newell Dennison said. “We are sufficiently competent to see if what they are saying in terms of what has been represented makes sense so there are formulas, for example, ...

Finance Minister, Winston Jordan says he is wary of losing revenue, including much needed foreign exchange, if government gives into calls for fuel prices to lowered. Government’s Department of Public Information (DPI) quoted Jordan as saying that government is considering “creative solutions” to avoid adverse impacts on Guyana’s balance of payments. Among his concerns are the impact that lowering the ...

Guyana’s Private Sector Commission (PSC) on Thursday said it was engaging government on its Green State Development Strategy (GSDS), but at the same time poured cold water on government preference for solar energy and small hydro stations because they would be unable to  supply cheap energy for manufacturing. The umbrella business organisation stressed that large-scale hydro power plants were key ...

Eco (Atlantic) Oil & Gas Limited (LON:ECO, TSX-V:EOG) has noted Exxon Mobil Corp’s (NYSE:XOM) eighth discovery offshore Guyana as it provided an update on its own operations in the region. The AIM-listed oil and gas producer said Exxon’s Longtail-1 well, located at the Stabroek Block which is adjacent to Eco’s own Orinduik Block, had encountered around 78 meters of high-quality oil-bearing sandstone ...