Business

The Guyana Power and Light Inc. (GPL) on Friday announced the appointment of Mr. Albert Gordon effective February 1, 2018 as the company’s new Chief Executive Officer (CEO). Mr Gordon is a Jamaican national but stands truly as a son of the Caribbean. The appointment of Mr. Gordon forms part of GPL’s plans to modernize, expand and improve electricity supply ...

In what appears to be an all-out battle, Local Government Minister Ronald Bulkan is demanding that City Mayor Patricia Chase-Green tell him what the Council intends to do at playgrounds in two upscale areas of Georgetown. “Please be informed that I require a response from you regarding what applicable action(s) the Council contemplates or intends to perform on the Bel ...

Local Government Minister, Ronald Bulkan on Monday rejected accusations by Georgetown Mayor, Patricia Chase-Green that he was meddling in Council’s affairs and instructing Council, through her, to adopt a new decision-making procedure in violation of the municipal laws. “We can’t be fossilised with any legislation. We are in a new era now. We are in a new democratic environment and ...

Guyana has been short-changed in the amount of the important royalty on oil sales and the controversial US$18 million signing bonus from ExxonMobil but overall the 2016 Production Sharing Agreement (PSA) is quite a routine deal taking into consideration the risk factors, says a United States (US) energy industry analyst. “The thing to focus is the royalty rate is low. ...

Banks DIH Saturday night said it was among major food and beverage companies taking steps to reduce the risks its products might pose to diabetes or risk facing a “sugar tax”, according to Chairman of the company, Clifford Reis. He told shareholders at Thirst Park that Banks DIH would continue working with all international companies with which it has partnerships ...

The Guyana government has decided to keep the Enmore sugar estate as a going concern while the search continues for long-term investors, a senior official of the divestment corporation announced Friday. Shawn Persaud of the Special Purpose Unit (SPU) of the National Industrial and Commercial Investments Limited ( NICIL) told hundreds of workers at Enmore Estate that “hopefully” the Enmore, ...

As the liberalisation of Guyana’s telecommunications sector awaits the settlement of a US$44 million tax dispute, the Guyana Revenue Authority (GRA) on Thursday vowed to stick to tax principles and said it was still awaiting more information from the telecoms provider. “As far as I know, GT&T has submitted information to me; I am now going through the information. I ...

Central government has blocked the Georgetown City Council from using open spaces in the City for business or housing purposes, in the wake of a High Court ruling that outlaws such activities. Minister responsible for Local Government, Ronald Bulkan said the David Granger-led administration expects that local government councils should instead “maintain and improve such areas for the benefit of all ...

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 ...