Business

The Ministry of Natural Resources on Friday said there was no “sinister motive or corruption” in decisions for the ExxonMobil’s Development Plan for Liza Phase 1 and the state’s regulatory Guyana Geology Mines Commission (GGMC) and contracted advisors were involved in the process. “Though it may be difficult for some to see presently, the nation will, in the near future, ...

The General Secretary of the Guyana Trades Union Congress (GTUC), Lincoln Lewis on Thursday called on decision-makers to go to ordinary Guyanese in their communities to discuss how the emerging oil sector can lift them out of poverty, and and he cited the need for at least 43 of the 65 parliamentarians to pass pro-development budgets. Lewis insisted that the Parliament ...

A Guyana Manufacturing and Services Association (GMSA)- organised forum on the proposed Sovereign Wealth Fund (SWF) on Thursday heard strong recommendations for the creation of a “non-political” legal entity to manage oil and other revenues, but Ministry of Finance Budget Director, Sonya Roopnauth says government’s model guarantees the involvement of highly qualified experts. “It is very difficult to take away ...

The Guyana Manufacturing and Services Association (GMSA) will Thursday hold the country’s first civil society forum on government’s proposed Sovereign Wealth Fund that will be used to save and manage the country’s expected huge inflows of oil earnings. The association, which represents more than 100 large and medium-scale businesses, plans to bring together a ranger of perspectives from government and ...

The Guyana Civil Aviation Authority (GCAA) is paying close attention to a claim by a domestic airline passenger that the pilot started a plane and then realised there was no fuel. “Boarded ASL flight for Port Kaituma a moment ago. Fastened seat belt and the captain turned the engine on and the plane refused to start. IT HAS NO FUEL. ...

An Air Services Limited’s (ASL) helicopter engine disintegrated as the aircraft was about to land at an interior location earlier this week, authorities confirmed Wednesday. The incident occurred on Monday at Hicks Camp and involved the Bell 206 helicopter bearing registration markings, 8R-GTR. Director-General of the Guyana Civil Aviation Authority (GCAA), Retired Lt.Col. Egbert Field confirmed that the incident occurred, ...

LONDON, Sept 11 (Reuters) – A prospect operated by Tullow Oil off Guyana contains an estimated 3 billion barrels of oil and gas, its partner Eco Atlantic said on Tuesday, as the two firms prepare to drill in the Latin American oil basin. Guyana became one of the world’s most closely watched oil basins after Exxon Mobil discovered more than ...

The embattled General Manager of the Guyana National Newspapers Limited, Sherod Duncan was Tuesday sent on leave pending a probe into him spending more than GY$5 million in less than three months of his probationary period. Duncan confirmed the decision on his Facebook Profile. “I will be proceeding on Administrative Leave with immediate effect from the Guyana National Newspapers Limited ...

A knife-wielding man, who attempted to enter the home of a 66-year old woman at Uitvlugt, West Coast Demerara, was arrested and handed over to police, security and police said. The West Demerara Police Divisional Commander, Senior Superintendent Rishi Das told Demerara Waves Online News that the man seemed to be of unsound mind and police would be seeking a ...

Less than one day after the Finance Comptroller of the Guyana National Newspapers Limited (GNNL) was issued a dismissal letter by the General Manager,  a decision has been taken to rescind that correspondence, the Prime Minister’s Office said in a statement. The rescinding of the letter followed a high-level meeting at Prime Minister Moses Nagamootoo’s offices with General Manager Sherod ...