Business

Aurora Gold Mines (AGM) on Monday defended the acquisition of its own aircraft to shuttle between the coast and its mines site at Cuyuni, in the face of ongoing criticisms about the fact that the Twin Otter plane still bears a Canadian registration. The civil aviation registration marking on the plane is  C-GGIR AGM said it bought the plane in January, 2016 ...

Armed, masked foreign language-speaking bandits shot and injured a guard before carting off 50 ounces of raw gold worth GY$13 million, two guns and other items from a gold mining camp at Black Water Backdam, Cuyuni River, police sources said. Investigators said when the bandits opened fire, the guard named Stephen Hall, 55 years, of Section B Great Diamond, was ...

The National Industrial and Commercial Investments Limited (NICIL) officially issued a US$ 150 million equivalent bond facility, arranged by Republic Bank Limited exclusively through its Investment Banking Division, the holding company for government’s assets said in a statement. The local law firm London House Chambers, headed by Devindra Kissoon,  acted as Republic Bank’s transaction attorney. The bond will be issued ...

The Ministry of Public Infrastructure on Saturday deployed a team to the South Rupununi to assess damage to a key bridge that collapsed under the weight of a flatbed truck that was carrying an excavator. The assessment would focus on the “severity of the damage and cost to rehabilitate the Yamatwao bridge. “The overweight vehicle  overextended the bridge’s capabilities, thereby ...

The Guyana Bank for Trade and Industry (GBTI) has said it continues to promote savings especially among youths, and gives an incentive to those already doing so to encourage others to join the bank;s Early Savers Club. “GBTI continues to promote savings. The bank believes that an early start to good saving habits could influence a good lifestyle,” the bank ...

After a prolonged delay in allocating an estimated GY$2.2 billion for repairs to the badly deteriorated Linden-Lethem and Linden to Kwakwani Roads, only minor works could be done until the rainy season ends with the eventual setting aside of GY$650 million, officials said. Motorists have told Demerara Waves Online News that so far three trucks have toppled, and the recommended ...

The United States (US) on Friday said it has so far spent more than US$100,000 to help Guyana tighten its maritime port security, resulting in increased compliance with the International Shipping and Port Security (ISPS) code that helps minimise terrorist threats. American Ambassador to Guyana, Perry Holloway said assessments by the US Coast Guard cost about US$100,000 and a Port ...

The Guyana Revenue Authority said it seized  GY$6 million worth of smuggled liquor. The 50 cases of  foreign alcohol were seized by the GRA’s Law Enforcement and Investigation Division (LEID) from an unnamed location on the East Coast Demerara on May 30, 2018, the authority said. One person was arrested and subsequently put on bail, the GRA said. “The GRA ...

The Marriott Hotel Guyana in Georgetown will soon benefit from an eco-friendly, sustainable and cost-efficient energy supply, the mee co Group said in a statement. “The leading five-star hotel in Guyana has concluded an agreement on a solar power installation with the global clean energy provider The meeco Group, to reduce its dependence on expensive diesel and shave off its energy costs ...

The Guyana Oil Company (Guyoil) is holding the line with its gas price despite crude oil reaching four-year highs, government’s Department of Public Information said. As an importer, Guyana has historically been vulnerable to oil price shocks. World prices have shot up in recent weeks mainly due to the withdrawal of the United States from the Iran nuclear deal. Impending ...