Business

Cabinet is yet to announce a new Chairman and other directors of the state-owned Guyana Sugar Corporation (Guysuco), although Finance Minister Winston Jordan has said new directors announced in early March have been scrapped. Jordan has said Cabinet Secretary Joseph Harmon prematurely announced Guysuco’s new Board of Directors before full Cabinet approval. Evidence at the Company Registry shows that government ...

The Ministry of Natural Resources on Monday said it was disappointed with what seems to be a “reneging” by all parties concerned on the terms and understanding of the mediation process on mining in the Marudi mountain area, Region Nine (Upper Takatu-Upper Essequibo) which came into being in 2016. The Ministry’s Director of Compliance, Derrick Lawrence, speaking on the issue, ...

The Pan-Caribbean Partnership against HIV and AIDS (PANCAP), the mechanism that provides a structured and unified approach to the Caribbean’s response to the HIV epidemic, will host the Joint Regional Dialogue with Faith Leaders, Parliamentarians, Civil Society Leaders, National AIDS Programme Managers and Youth Leaders. Approximately 60 delegates representing Parliamentarians, Faith Leaders, Youth Leaders, Key Populations, People Living with HIV ...

Finance Minister, Winston Jordan on Friday said government would put place safeguards to prevent a steep revaluation of the Guyana dollar as a result of expected large inflows of United States (US) dollars  from oil earnings. “I will indicate to you that there could possibly be some appreciation of the Guyana dollar but we will have to guard against that using ...

The Guyana Gold Board (GGB) will have to mull whether to remove its laboratory in the wake of above normal mercury levels in 60 of the more than 130 workers of the Guyana Geology and Mines Commission (GGMC) that have been tested so far, Minister of Natural Resources Raphael Trotman said. Trotman announced in the presence of the Board of ...

The US$18 million ExxonMobil signing bonus, which was  initially deposited in the Bank of Guyana, has been transferred overseas to an interest-bearing account, Finance Minister Winston Jordan said. “If it stays here, it will sit down doing nothing. It can’t earn interest if it stays here so it’s in matured US treasury bills, Canada bonds…,” he said. US$36,163 in interest ...

Guyana will be spending US$20 million on preparing the country get its rightful share of earnings that oil companies like ExxonMobil have agreed to pay government, Finance Minister Winston Jordan said Friday. “Unless we can get processes, legislation, bodies and monies all coming together, it will be a difficult proposition trying to match our wits with a giant like ExxonMobil,” ...

Opposition Leader Bharrat Jagdeo came out in swinging defence of former Finance Minster, Dr. Ashni Singh and former Head of the Privatisation Unit, Winston Brassington who have been charged with misconduct in public office. “In three years, that’s all you can charge for ? procedural errors and we don’t believe they are procedural errors,” Jagdeo told a news conference. He ...

Former Finance Minister, Dr. Ashni Singh and former Head of the National Industrial and Commercial Investments Limited (NICIL)/ Privatisation Unit, Winston Brassington were Thursday given until early next month to make an appearance in connection with the sale of three plots of land for a total of more than GY$900 million. Three charges of alleged misconduct in public office were ...

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 ...