Business

Government on Tuesday appeared to further reduce the annual production target of a scaled down Guyana Sugar Corporation. Minister of Agriculture, Noel Holder told the National Assembly that government was now targeting sugar production of 145,247 tonnes in 2020. When government last year had tabled its White Paper on the sugar industry, it had set itself a target of 174,000 annually. ...

A study on how best to employ thousands of workers, who are being laid off as part of the restructuring of the state-owned Guyana Sugar Corporation (Guysuco), in other areas of agriculture is now underway, officials said Monday. Chief Executive Officer of Guysuco, Errol Hanoman said the experts have cited the need for a good level of demand for produce to ...

The opposition People’s Progressive Party Civic’s (PPPC) Shadow Finance Minister, Irfan Ali on Monday charged that the David Granger-led coalition’s promise of a “good life” amounts to a “good lie” based on his mid-term review of Guyana’e economic performance. “It’s not OK. It cannot be OK for us when the people of this country are suffering. It cannot be OK ...

The opposition People’s Progressive Party Civic (PPPC) on Monday said evidence shows that Guyana has slipped on the World Bank’s ‘Ease of Doing Business’ ranking, a situation government hopes to remedy with a multi-million dollar project to be funded by the Inter-American Development Bank (IDB). PPP Shadow Finance Minister, Irfan Ali, in kicking off debate on the 2018 National Debate, ...

Guyana’s oil revenues should be used to finance the development of renewable energy sources and cash normally spent on fossil fuels should be fund systems that can resist the impact of climate change, say top local and regional officials. “Anticipated earnings from the oil and gas sector should fund Guyana’s transition to a ‘green economy’ and provide a mechanism for ...

Competition in Guyana’s mobile phone market on Saturday continued to heat up for the Christmas season with one of the country’s two major phone companies announcing that it has set aside GY$18 million in prizes and also holding a fun-day for orphans at the several children’s homes. Digicel (Guyana) said Digicel’s Santa Express  is expected to make a stop-over at ...

One of Guyana’s leading rice manufacturers- exporters has agreed to help the University of Guyana (UG) establish a GY$40 million soil and water testing research centre at the Berbice Campus. The Memorandum of Understanding was signed by the Chief Executive Officer of Nand Persaud Group of Companies, Rajendra Persaud and Vice Chancellor of the University of Guyana, Professor Ivelaw Griffith ...

The Food and Agriculture Organisation (FAO) has announced that it will be supporting the establishment of a Food and Nutrition Institute at the University of Guyana (UG) and help that tertiary institution conduct several studies on climate change related to the agriculture sector. The announcements were made by the FAO Representative in Guyana, Reuben Robertson at the 10th Turkeyen and ...

The United States (US) oil giant has agreed to help pay Guyana’s legal fees, amounting to just over US$15 million, for taking of the Guyana-Venezuela border controversy to the World Court, despite a government denial earlier Thursday. Other high-level government sources said  that the so-called US$20M signing bonus from Exxon “is to assist with the border process as the UN ...

A strike by workers at the majority Russia-owned Russian Aluminium (RUSAL) has been averted after the company signed an agreement to pay back more than GY$173 million in income taxes that had been deducted from workers’ overtime pay for more than one year, although government had decided that their extra earnings would not have been taxed, a senior union official ...