Business

Government is yet to decide on the composition of the Board of Directors of the state-owned Guyana Sugar Corporation (Guysuco), a senior government official. Minister of State, Joseph Harmon made known his position at a time when there concerns in some quarters about whether the Head of the Special Purpose Unit, Colvin Heath-London, who is overseeing the sale of several ...

The Board of the Guyana National Newspapers Limited (GNNL) had nothing to do with the decision to inform Professor David Hinds and Trade Unionist Lincoln Lewis that their columns would no longer be published in the state-owned Guyana Chronicle, Board Chairwoman Geeta Chandan-Edmond said. Reacting to a Demerara Waves news report earlier Friday in which the newspaper’s Editor-in-Chief, Nigel Williams ...

Guyana’s fast-tracking of the start of oil production in 2020 was part of a broader plan to stamp its sovereignty on the location of the Liza field that Venezuela had claimed as hers, Natural Resources Minister Raphael Trotman said Friday. Addressing the opening of the Guyana Oil and Gas Law Training Development Conference, he noted that on May 26, 2015 ...

As the Pegasus Hotel prepares to construct a US$100 million Corporate Centre and Suites, its owner Robert Badal Thursday night urged government to stop taxing start-up investment projects heavily as they seek to enter the marketplace and contribute to Guyana’s growth and development. He contended that heavy taxation was discouraging the local private sector from investing heavily. “The main reason, ...

ExxonMobil plans 20 oil exploration projects offshore Guyana, using a projected cost of US$40 per barrel, company officials said Wednesday. The corporation’s Vice President Neil Chapman said  his company has found 3.2 barrels of oil equivalents and is gearing up to drill 20 more wells in the Stabroek Block. “We also have considerable additional potential in this region. We have ...

ExxonMobil on Tuesday assured that there would no skulduggery to inflate expenses or steal Guyana’s oil and at the same time appeared reluctant to renegotiate its controversial Production Sharing Agreement with Guyana although larger quantities of oil are being found in the Stabroek Block. In response to a question at Private Sector Commission-organised seminar on Guyana’s oil and gas sector, ...

In the face of persistent criticisms of the Guyana-ExxonMobil agreement, Business Minister Dominic Gaskin on Tuesday railed against critics who see the deal as “chicken feed”, instead saying that it would yearly earn the country more than gold. Addressing the opening of a Private Sector Commission- organised seminar under the theme “Oil and Gas in Guyana: Perspectives in Guyana”, Gaskin ...

Guyana Manganese Incorporated (GMI) plans to employ more than 500 Guyanese in the construction of its manganese operations in Matthew’s Ridge, a senior company official. Steven Ma, Assistant General Manager of Bosai’s Overseas Department said construction is set to begin in July and  550 locals from the region and across Guyana would be employed during that phase as well as ...

An GY$18 million innovative fund established by the Guyana Telephone and Telegraph (GTT) will be pumped into the Science Technology Engineering and Mathematics (STEM) programme locally and the University of Guyana (UG). The announcement was made earlier Monday by the telephone giant during a press conference to promote its upcoming Innov8 Expo and Business forum to be held later this ...

The Guyana Revenue Authority (GRA) on Monday won an appeal before the Caribbean Court of Justice (CCJ) against Guyana Stores Limited (GSL) on whether a two percent minimum corporation tax was unconstitutional and amounted to the taking away of private property. “This decision is a victory for the Revenue Authority as many taxpayers attempt to avoid the specialized procedure under ...