Business

The Bank of Guyana is about to be given the power to bail out commercial banks in financial troubles for a maximum of 182 days, to safeguard depositors’ monies similar to what happened 14 years ago at Globe Trust. However, the opposition People’s Progressive Party (PPP) objected to the amendment to the Bank of Guyana Act, saying that it was ...

Junior Finance Minister, Jaipaul Sharma on Friday virtually blamed the Guyana Police Force for the failure to charge and prosecute many persons stemming from several forensic audits that cost the National Treasury millions of dollars. “If I am the person conducting the audit, I know what the audits contain and I am annoyed that there is no prosecution,” he told ...

The registration documents for the Venezuelan plane, which landed with six nationals of the Spanish-speaking South American nation, have been confirmed as authentic, authorities said Friday. Director-General of the Guyana Civil Aviation Authority (GCAA), Retired Lt.Col. Egbert Field told Demerara Waves Online News that the documents exchanged with the Venezuelan Civil Aviation Authority proved that information provided by the pilots ...

Finance Minister, Winston Jordan has dismissed opposition claims that the strengthening of a raft of Guyana’s financial institutions laws is in exchange for a US$35 million soft loan from the World Bank. “We don’t have to pass these Bills today to get thirty-five million. We already get it. It’s already been approved. We don’t have to pass these Bills today ...

Public Infrastructure Minister, David Patterson said interior road users could expect some improvements in two weeks and a plan has been crafted to avoid a recurrence next year. He acknowledged that part of the problem appeared to have been the award of contracts “a bit late” by the Ministry of Natural Resources and the Guyana Geology and Mines Commission. Sources ...

Preparatory work continues apace for start of construction of the Linden-Lethem road which will link Guyana with neighbouring Brazil later this year, officials said. Foreign Affairs Minister, Carl Greenidge said the status of the decades-long promised bridge was discussed with Brazil’s Minister of External Relations, Aloysio Nunes Ferreira’s one-day visit to Guyana on Thursday. Greenidge said technical teams from both countries ...

The Guyana Association of Private Security Organisations (GAPSO) on Thursday slammed the Guyana’s Police Force’s Head of Criminal Investigations, Assistant Commissioner Paul Williams’ criticism of how the security guards’ dealt with Junior Minister, Simona Broomes at a restaurant parking lot. Referring to a July 12, 2018 article in the State-owned and government-controlled Guyana Chronicle newspaper, GAPSO said Williams’ expectation that ...

A senior official of Guyana’s Private Sector Commission (PSC) has called on Guyanese to stop beating up on the United States (US) oil major, ExxonMobil, days before American Ambassador Perry Holloway called on locals to unite around the expected oil wealth. “I would also like to say to all of Guyana, let us take it a little easy, as we ...

The American Chamber of Commerce (AMCHAM), which is affiliated to the United States Chamber of Commerce,  is preparing to establish an affiliate in Guyana to attract and represent American business interests, American Ambassador to Guyana, Perry Holloway said Wednesday night. He said AMCHAM Guyana is expected to set up shop by August, 2018. “The first ever official American Chamber of ...

General Secretary of the People’s National Congress Reform (PNCR), Amna Ally on Wednesday said if the reported account of an altercation between Junior Minister of Natural Resources and two security guards at an East Bank Demerara restaurant’s parking lot is factual, then the incident is “unfortunate”. “Of course, if it is that something took place as is reported, it’s unfortunate, ...