Business

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 ...

The contract between Guyana and United States (US) oil giant, ExxonMobil is to be made public in December, ending months of calls by various stakeholders. Minister of State, Joseph Harmon said government made a “fulsome consideration” of the related matters including widespread calls for the 1999 deal to be released. He said government was committed to ensuring transparency and has ...

The state-owned Guyana Sugar Corporation (GuySuco) has begun laying off workers from this month-end as part of a restructuring plan of the loss-making entity, but one of the unions on Thursday warned of a massive economic downturn in the sugar-dependent village economies. “It’s going to bring ruination to the communities because all these areas they are closing the workrs depend ...

Commuters are being urged to speak out against errant minibus drivers. The call was made by Minister within the Ministry of Public Infrastructure (MPI), Annette Ferguson at a Road Safety Education awareness village hosted at the Stabroek Market Square today. At the event to observe the end of road safety month, Minister Ferguson said despite continuous awareness campaigns on road ...

Two private sector organisations on Wednesday expressed mixed views about the 2018 National Budget, ahead of next week’s parliamentary debate on the package of revenues and expenditures. The Guyana Manufacturing and Service Association (GMSA) said while the budget includes several recommendations, a lot has not been done to stimulate and expand manufacturing. “The GMSA was hopeful that proposed measures to ...

A senior Private Sector Commission official Tuesday night welcomed government’s decision to roll back a number of tax measures, but said the 2018 National Budget was expected to be “non-impactful”. “The budget is immediately non-impactful on the economy but some of the measures that were reversed are very, very good,” PSC executive member, Ramesh Dookhoo told Demerara Waves Online News ...

Government has decided to revise its model Production Sharing Agreement (PSA) with oil companies now that Guyana’s  offshore basin is less risky, and already one oil and gas expert is touting a rate of return model backed up by Guyana’s participation in a state oil company to serve as a watchdog against skulduggery. Attorney-at-Law, Charles Ramson, who this year emerged ...