Business

Former Finance Minister, Ashni Singh and former Head of the Privatisation Unit, Winston Brassington have been charged in connection with the sale of threw plots of land. Their lawyer, Anil Nandlall said they have been charged with three counts f misconduct in public office. Nandlall said it has to with the sale of the three plots of land on the ...

Six men have been arrested in connection with the alleged discovery of four handguns and numerous rounds of ammunition, after they failed to rob an East Bank Demerara poultry farmer, police said. The Guyana Police Force said two 9 MM Glock pistols, one of whose serial number was filed out, along with twenty two live rounds; one Beretta pistol with ...

President David Granger on Wednesday said government would be turning its attention to overseas hire experts to staff the Department of Energy in the Ministry of the Presidency. With a road-map already in place, the Guyanese leader said the search would extend for a building and “quality personnel” for the Department. Saying that already “there is progress”, Granger acknowledged that one ...

Minister of Foreign Affairs, Carl Greenidge said none of the US$18 million ExxonMobil signing bonus has been spent so far on legal fees for the Guyana-Venezuela border controversy case at the International Court of Justice (ICJ). He said US$15 million of the entire bonus have been set aside for legal fees, but government might need to find more money as ...

The Georgetown Chamber of Commerce and Industry (GCCI) and the Movement Against Parking Meters (MAPM) on Monday announced that they would be filing objections to the parking meter by-laws. Approved last week by 13 of the councillors who were present, the by-laws have been posted up at several locations across the City for 14 days to allow citizens to make ...

Reproduced from Bloomberg Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. While Guyana should honor the existing deal, future contracts should ensure the state gets a higher portion of crude proceeds, the fund said in a report ...

The Ministry of Finance on Saturday said Guyana has not borrowed any money from the Islamic Development Bank (IsDB), but could potentially tap into a total of US$900 million in loans and grants “Guyana has not received any loans from the Islamic Development Bank,” the Finance Ministry said after Opposition Leader  Bharrat Jagdeo criticised government for borrowing US$900 million from ...

The Berbice River Bridge is safe to cross, although the pontoons on which that transportation link floats have not been serviced for several years because that privately-owned company has apparently done nothing to raise a minimum GY$150 million required for servicing, Minister of Public Infrastructure, David Patterson says. “The bridge is not in any imminent danger of collapsing but what ...

The use of natural gas for the state-owned Guyana Power and Light Inc. (GPL) to generate electricity has been found to be feasible and a site has already been identified to land a pipeline to bring the fuel ashore, Minister of Public Infrastructure, David Patterson said. “It has been confirmed that it is feasible. It has been confirmed that it ...

The state-owned Guyana Power and Light Inc. (GPL) needs US$110 million to fix “serious deficiencies” that make the transmission and distribution system vulnerable to shutdowns and blackouts, the power company’s newly-appointed Chief Executive Officer, Albert Gordon said Wednesday night. That money, he said, would be spent on urgent reconfiguration, re-conductoring, and building some redundancy to stabilise the system. Minister of ...