Business

More representatives of the political opposition and civil society are likely to be included in the Petroleum Commission’s Board and ministerial powers reduced, based on local and international advice, Minister of Natural Resources Raphael Trotman said Thursday. Following inputs from the Commonwealth, International Monetary Fund and the Inter-American Development Bank (IDB), Trotman said the recommendations for the amendment of the ...

The Guyana government is yet to ascertain whether domestic consumers of oil fuels will pay less, although ExxonMobil will be required to satisfy the country’s daily oil consumption, Minister of Natural Resources Raphael Trotman said Thursday. He told a news conference that Guyana’s premium quality oil will be sold to ExxonMobil with a specific amount of 13,000 to 15,000 barrels ...

Guyana’s growth rate for 2017 will be further revised downwards due to a more than 45,000 ounce shortfall in gold declarations, but Finance Minister Winston Jordan is confident that the country’s production of the yellow metal would climb again this year due to good prices and improved access to gold bearing areas of the interior. “With both sugar and gold ...

The New Building Society Limited (NBS) on Wednesday said it would take steps to “safeguard” the GY$59 million in pension benefits paid by cheque to its former Chief Executive Officer, Maurice Arjoon who was dismissed as a result of a fraud probe. “While the Society paid over the said sum to avoid a confrontation, it will be taking steps to ...

As the Ministry of Social Protection (MoSP) continues its efforts to digitise the old age pension system in coastal regions, the exercise will see information technology being utilised to eliminate pension books. It will also establish a system where seniors will be allowed to use their National Identification (ID) cards to uplift their pension. Director of Social Services, Wenthworth Tanner, ...

Two Brazilian women were among four persons nabbed following a shootout Tuesday night in Lethem, as police probed an armed robbery earlier in the day that led to the arrest of three Brazilian men. “Acting on information, ranks went to a house at Tabatinga, Lethem about 22:30hrs last (Tuesday) night and on arrival were forced to take cover as several ...

Urging sacked sugar workers to get registered in the right districts to vote for the People’s Progressive Party (PPP) at the 2020 general election, Opposition Leader Bharrat Jagdeo accused the David Granger-led administration of sending them home because of racial and political reasons. In a swift response on Wednesday, the Ministry of the Presidency slammed Jagdeo, saying that his  remarks ...

Three men believed to be Brazilians were Tuesday afternoon arrested after they allegedly robbed a shop at the southern Guyanese town of Lethem near the border with Brazil, police confirmed. Interior Divisional Commander, Superintendent Ravindradat Budram told Demerara Waves Online News that after police received a call, they immediately took up positions at strategic locations and caught the suspects. He ...

At least six managers of the New Building Society (NBS) were Tuesday evening detained and taken to police stations in connection with alleged unlawful imprisonment of several persons at the financial instiution’s headquarters during the day. Four security guards- three employed by NBS and one by Professional Guard Service-were also arrested and taken to a nearby police station. Police are ...

After a stand-off of several hours, the New Building Society (NBS) on Tuesday paid up a more than GY$59 million dollar dismissal judgement to former Chief Executive Officer of the New Building Society (NBS), Maurice Arjoon. Sources told Demerara Waves Online News that the cheque has been already written and handed over. High Court Marshals and Arjoon’ s lawyers descended ...