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Business

Congressional Black Caucus stays clear of Guyana’s domestic politics

The United States (US) Congressional Black Caucus (CBC) has made no mention that Guyana’s political issues were discussed last week with President Irfaan Ali, in contrast to a separate statement issued by Minority Democratic Leader Hakeem Jeffries. The CBC said President Irfaan Ali, Mr Jeffries, CBC Chairman Steven Horsford and other Members of the Congressional Black Caucus “had a productive ...

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CFATF “favourably” reviews Guyana’s anti-financial crimes regime, but recommends ‘unified’ law enforcement

The Caribbean Financial Action Task Force (CFATF) has identified several areas that Guyana needs to tighten up as part of the global fight against money laundering and fighting terrorism, even as that regional organisation is satisfied with steps that have been taken so far to bring the country into legal compliance. While Guyana was using formal and informal mechanisms such ...

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Canada: Brampton publisher wins Guyanese writing competition

MiddleRoad Publishers wins the Guyana Prize for Literature Fiction Reproduced from Brampton Guardian By Alexandra Shimo Brampton Guardian They publish just four books per year. They operate on a shoestring budget. Yet Brampton’s MiddleRoad Publishers has on its roster the book that won the 2022 Guyana Prize for Literature Fiction. “It was euphoric,” said author Ken Puddicombe, who — as ...

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“Very pleased” with oil bid round, though old rules were more attractive to companies- Jagdeo

Vice President Bharrat Jagdeo on Thursday admitted that the new legal and fiscal terms for acquiring an oil block in Guyana, coupled with international conditions, resulted in a mere 8 bids for the 14 oil blocks offshore the South American nation. “Just imagine this bid round taking place under the old conditions, I believe we would have had all 14 ...

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Ali not disappointed by low bids in first oil block auction

President Irfaan Ali on Wednesday shrugged off suggestions that bids for a mere six bids for the 14 offshore oil blocks did not meet his government’s expectations. “I’m not disappointed.  I think this is a tremendous accomplishment given the circumstances of the market and the realities we are operating in,” he told an Inter-American Dialogue forum in Washington DC, in ...

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Ansa McAl expands further in Guyana; plans to train locals, make technologies available

The Trinidad-headquartered Ans McAl group of companies on Tuesday formally announced the establishment of a US$15 million subsidiary, Ansa Building Solutions (ABS) in Guyana that will eventually cater for various aspects of the infrastructure sector including laboratory and other tests. Initially, the company is employing 45 more persons and is offering paint with mixtures that can generate more than 2,000 ...

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Six bids in for Guyana’s first oil block auction

A Guyanese women-owned led company and ExxonMobil are among six separate expressions of interest in Guyana’s first ever auction for oil blocks offshore. The bids were opened by the National Procurement and Tender Administration Board, after several push-back in deadlines that allowed for the passage of a new Petroleum Act and the drafting of a new model Production Sharing Agreement. There ...

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Private sector satisfied with talks to ease foreign exchange bottlenecks

The private sector on Tuesday appeared satisfied with steps that would be taken to ease an apparent shortage of foreign exchange at  commercial banks, even as the Chairman of the Private Sector Commission (PSC), Komal Singh indicated that he was satisfied with the outcome of Monday’s talks. “The meeting yesterday (Monday) was a very fruitful meeting from a private sector ...

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Foreign exchange rates for wide-ranging discussion

Representatives of the banking sector and the business community are next week Monday scheduled to hammer out ways of addressing concerns about the availability of foreign exchange, President Irfaan Ali said Saturday. He said he has instructed the Minister of Finance Dr Ashni Singh to convene a stakeholder meeting with the private sector, the Bank of Guyana, all commercial banks ...

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Jagdeo hints at govt paying GUYSUCO’s pension debt

Vice President Bharrat Jagdeo on Thursday signaled that government would pay the Guyana Sugar Corporation’s GY$420 million debt to the Sugar Trading Enterprise Pension Scheme (STEPS), in the wake of a formal demand by the regulator to the State-owned producer of the sweetener. “Once it has to do with workers’ pension and contribution, then just like how we promised to keep ...

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