Business

Finance Minister, Winston Jordan says the US$18 million signing bonus from ExxonMobil will be paid into Guyana’s Consolidated Fund whenever government decides to use the funds for the intended purpose. “The 18 million is in a special account at the Bank of Guyana. It’s there because it’s designed for a special purpose. whenever that special purpose is activated, the monies ...

The Consultative Association of Guyanese Industry (CAGI), with technical support of the International Labour Organization (ILO), recently completed an assessment of the Enabling Environment for Sustainable Enterprises (EESE) in Guyana, the ILO said Tuesday. The final report and an action plan for the implementation of recommendations will be presented at a high-level tripartite event on Friday, December 15, 2017 at the ...

Cisco, the worldwide technology leader, and Digicel, a major telecommunication services provider covering a wide territory in the Caribbean, have signed a Caribbean Countries Digitalization agreement outlining their objectives and strategic plans for accelerating the digital agenda and existing digitization policies for 26 countries in the Caribbean and Central America, Digicel announced Wednesday. Under the Frame Agreement, the two companies ...

Former President, Bharrat Jagdeo on Tuesday said the Canadian oil company, CGX Energy, had paid legal fees directly to lawyers for the Guyana government and that company lawyers in fighting the maritime boundary dispute with Suriname at the United Nations Tribunal of the Law of the Sea. “As President, as far as I am concerned and I am aware of, ...

Guyana’s Private Sector Commission (PSC) Tuesday night condemned the calling in of police at Parliament Building to remove opposition People’s Progressive Party Civic (PPPC) parliamentarian, Juan Edghill after he refused House Speaker, Dr. Barton Scotland’s instruction to leave the Chamber. “The involvement of law enforcement, apart from being an unacceptable overreaction, is an unfortunate occurrence. It does not augur well ...

ExxonMobil Sunday night said a US$18 million signing bonus was deposited into a government account at the Bank of Guyana last year, and called for such transactions with all other companies to be made public in the future. Country Manager of ExxonMobil (Guyana), Rod Henson told reporters that this country merely earned a bonus that is “customary and normal” in ...

Attorney General and Minister of Legal Affairs, Basil Williams on Saturday said the Caribbean’s Council for Legal Education (CLE) has effectively blocked the establishment of the planned Joseph Haynes Law School, prompting his immediate predecessor, Anil Nandlall to reiterate that no decision had  ever been taken in favour of Guyana doing so.   “New Chairman of the Council of Legal ...

Chartered Accountant and Attorney-at-Law, Christopher Ram on Saturday signaled that private criminal charges might be laid against several top Guyana government ministers and officials for allegedly failing to deposit a multi-million United States (US) dollar signing bonus from ExxonMobil into the Consolidated Fund. Ram said he did not regard taking the matter to the police, but indicated that it was ...

Finance Minister, Winston Jordan railed against the sale of bottled Jamaican water at the Cheddi Jagan International Airport and at the same time defended the hiring of Chinese companies to point out that Guyanese are not doing enough to take advantage of business opportunities but still complain. “I don’t want to hear anything more about our national airport selling water ...

Minister of Natural Resources, Raphael Trotman on Friday confirmed that United States (US) oil giant, ExxonMobil, will help fund Guyana’s legal fees to settle the border controversy with Venezuela. “Yes, Mr. Speaker, there is a sum and yes it is reserved to safeguard this country,” he said the same day that two local newspapers published a September 2016 letter by ...