Business

Minister of Agriculture, Noel Holder said the National Industrial and Commercial Investments Limited (NICIL)- the holding company for government’s assets- might not have been properly advised about who is responsible for naming a board for the Guyana Sugar Corporation. “Perhaps, someone didn’t tell NICIL their role,” he said. That Board, under the Chairmanship of Head of NICIL’s Special Purpose Unit ...

Four fixed wing aircraft, including Skyvans that are no longer manufactured are being purchased for the Guyana Defence Force (GDF) to move troops and assist in search and rescue, Minister of State Joseph Harmon said Friday. “I don’t believe that they are making new Skyvans these days and they are very good factory-tested quality aircraft,” he told a post-cabinet news ...

United States (US) oil giant, ExxonMobil, on Friday announced that its latest exploration well offshore Guyana has not yielded oil in commercial quantities- the second out of a total of eight wells drilled at the Stabroek Block so far. The announcement was made by ExxonMobil’s Vice President and Secretary, Jeff Woodbury during its first quarter 2018 earnings call. “The Soribrum ...

As Guyana’s largely forestry-based exports to China recover, local businesses are being urged to explore opportunities to sell more food to that Asian country and attract Chinese tourists when they attend the inaugural China Import Expo to be held later this year in Shanghai. Minister of Business, Dominic Gaskin told a cocktail reception held Wednesday night to raise awareness about ...

People’s Progressive Party (PPP) parliamentarians plan to boycott a tour of the Cheddi Jagan International Airport development project, but intends to ask for an audit of the project that is supposed to cost US$150 million, mostly  through a loan from China. “We are aware that significant alterations and changes have been made to the design. It is our intention, and ...

The United States (US) appears to be stepping up its focus on intellectual property protection in Guyana, with American Ambassador, Perry Holloway urging locals not to buy bogus products and welcoming signals that government is about to draft modern copyright legislation. “Today, on World Intellectual Property Day, I salute them and encourage all of us to support local content creators ...

The Guyana Revenue Authority (GRA) on Tuesday ruled out granting an amnesty to Guyana Stores Limited (GSL) and has since asked that company to submit all outstanding tax returns and sign a deal to settle a GY$3.8 billion dollar tax debt after losing a recent appeal at the Caribbean Court of Justice (CCJ). “There would be no amnesty for this ...

A vessel, linked to at least one government official, has been held by the Guyana Revenue Authority (GRA) with more than 200,000 gallons of smuggled fuel and would  be released after GY$36 million in taxes have been paid, Commissioner-General of the Guyana Revenue Authority (GRA), Godfrey Statia said Tuesday. “We have actually boarded the vessel until our taxes have been ...

The Guyana Revenue Authority (GRA) is preparing to audit ExxonMobil’s operations, even as it prepares to staff a special Oil and Gas Unit with as much as 100 persons by 2020 when the country is expected to earn at least US$700 million annually from oil production, GRA Commissioner General, Godfrey Statia said Tuesday. “We have already notified Exxon of our ...

Minister of Natural Resources, Raphael Trotman on Tuesday directed the Guyana Gold Board (GGB) to stop burning gold at its Brickdam-based laboratory, after more than 60 workers of the Guyana Geology and Mines Commission (GGMC) recorded high levels of the potentially deadly chemical in their bloodstream. Trotman’s office said he “has directed that the burning of raw gold at the ...