Business

The Guyanese oil exploration company, SISPRO Inc; is likely to source some of its financing from the African Export–Import Bank (AFREXIMBANK) through the local merchant bank, NewHayven, President Irfaan Ali announced on Monday. NewHayven , which is headed by United States-based Guyanese Floyd Haynes, was launched in July 2022. Addressing the opening of the 3rd African-Caribbean Trade and Investment Forum (ACTIF) ...

The Egypt-headquartered African Export–Import Bank (AFREXIMBANK) would be offering US$500 million to Guyana to fast-track the development of infrastructure in this South American nation and double the lending limit to US$3 billion for all Caribbean Community (CARICOM) member-nations. President and Chairman of African Export–Import Bank (AFREXIMBANK), Professor Benedict Oramah told the opening of the African-Caribbean Trade and Investment Forum (ACTIF) ...

The Guyana Manufacturing and Services Association (GMSA) is teaming up with the Caribbean Manufacturers Association (CMA) to hold a regional summit in Guyana to address critical issues facing manufactures across the region and prepare the country to become a major manufacturing hub in Latin America and the Caribbean, according to a top official. GMSA President, Ramsay Ali reasoned that Guyana ...

Three persons were early Sunday morning arrested for allegedly attempting to scam a number of Automatic Teller Machines (ATM), police said. The Guyana Police Force said at about 12:15 Sunday morning detectives from its Criminal Investigations Department (CID) Headquarters arrested the woman and two men who scammers who were under surveillance after a report was made that they were targeting ...

Georgetown Public Hospital Corporation (GPHC) on Friday announced a significant enhancement to its medical services by providing free knee and hip replacement surgeries, including revision procedures, free of cost to patients. The GPHC said following a proactive proposal from the hospital management to the Board of Directors, the decision to remove all charges for these vital procedures was accepted, ensuring ...

The Ministry of Natural Resources has deducted 15 days’ pay from the salary of Senior Petroleum Coordinator, Gopnauth ‘Bobby’ Gossai after internal probe found that he engaged ExxonMobil without authorisation in the reduction of US$214 million in the cost bank of an audit of Stabroek Block expenses from 1999-2017. The Natural Resources Ministry said he was not only fined but ...

The State has asked the High Court to decide 0n the value of 1.9 acres of compulsorily acquired land at Canal Number 1, West Bank Demerara along the path of the gas-to-shore pipeline after the then owner repeatedly refused GY$2.5 million in compensation plus rem In court papers seen by Demerara Waves Online News, Head of the Gas to Energy ...

The wholly-owned Guyanese company, SISPRO Inc, is among several major international oil companies that have won bids to explore for oil offshore Guyana, Vice President Bharrat Jagdeo announced on Wednesday. “This is a very risky sector and I’m extremely pleased that the locals have been able to organise themselves to work with some foreign companies and put in the bids,” ...

ExxonMobil, the operator in the Stabroek Block, has reportedly found more oil at the Lancetfish-2 appraisal well, the Ministry of Natural Resources said Thursday. Government described the find as a “significant discovery”.  “The Lancetfish-2 discovery in the Liza Petroleum Production License area has unveiled an estimated 20 meters of hydrocarbon-bearing reservoir, along with approximately 81 meters of additional hydrocarbon-bearing sandstone.” ...

The way is now almost clear for Guyanese to keep their existing phone numbers and decide whether to change the phone companies, the three telecommunications providers and the Public Utilities Commission (PUC) said. “The operators are about to enter a final testing period before the launch of number portability,” the said in a joint statement. As part of the launch ...