Business

NEW ORLEANS, June 15, 2018 — First Bauxite Corporation on Friday announced that it has received a second bridge loan to the amount of US$10 million  to be used for the Bonasika Bauxite project located in Guyana. The loan, which was provided by with Resource Capital Fund VI L.P, would be used for the construction, mining and processing facilities at ...

Jamaica’s Chief Justice, Justice B. Sykes has issued an injunction against the St. Lucia- based owners of regional sports broadcasting network SportsMax, International Media Content Ltd (IMC), preventing them from disconnecting a feed of FIFA World Cup to E-Networks. IMC had issued a cease and desist letter to E-Networks to prevent that entity from broadcasting the World Cup football matches ...

The High Court has been asked to remove a government-appointed management team of the Guyana Public Service Cooperative Credit Union (GPSCCU) that seized control of the financial institution last month on the grounds that it is illegal. In court papers obtained by Demerara Waves Online News, Patricia Went, in her capacity as GPSCCU Chairman wants the High Court to grant ...

Ousted Management Committee members of the Guyana Public Service Cooperative Credit Union (GPSCCU) were blocked from travelling to Trinidad this week on tickets purchased with the credit union’s funds, well-placed sources said. “We can’t have them travelling… We can’t have them go out there to represent us, given the issues that we still have with them now,” one of the ...

Three men were arrested Wednesday morning shortly after a break-and-enter at The Number One Supermarket” , 18 Grove, East Bank Demerara, the Guyana Police Force said. Lawmen also recovered one .38 revolver and six live matching rounds as well as a quantity of phone cards that were in their possession. Police credited the breakthrough to a security guard who escaped from ...

ExxonMobil on Tuesday reconfirmed that Guyana will pump up its first barrel of oil in March 2020, even as the Guyana government continued to fend off criticisms of the 2016 production sharing agreement. Vice President of ExxonMobil Development Company, Lisa Walters said work was well advanced by several companies in Singapore, Brazil and the United States Gulf Coast to ensure ...

IRVING, Texas–(BUSINESS WIRE)–The Liza Phase 1 development continues to rapidly progress, with the commencement of development drilling offshore Guyana, ExxonMobil said Tuesday. Development drilling began in May for the first of 17 wells planned for Phase 1, laying the foundation for production startup in 2020. The company and its co-venturers have so far discovered estimated recoverable resources of more than 3.2 billion ...

Disagreement surfaced Monday afternoon over whether the High Court decided that a fraud case against former Deputy General Manager of the Guyana Rice Development Board, Madanlall Ramraj has been stayed, with Guyana’s Solicitor General, Kim Kyte saying that the State complied with Justice Navindra Singh’s order to produce a report. “No stay was granted. We complied with the Order. The ...

High Court Judge, Navindra Singh on Monday quashed fraud-related charges against former Deputy General Manager of the Guyana Rice Development Board (GRDB), Madanlall Ramraj. Defence Lawyer, Anil Nandlall emerged from an in-chamber hearing with the judge to whom he showed the heavily obscured contents of the report titled “Guyana Rice Development Board Forensic Audit Report for the period November 1, ...

A convict, who was found in an semi-conscious condition in a cell at the Georgetown Prison along with three other prisoners, died on Sunday at the Georgetown Hospital. Acting Director of Prisons Kevin Pilgrim said Shawn Thom had been placed in a cell with three other prisoners after he had stabbed another inmate on May 25, 2018.  He said Thom ...