Business

Representatives from Guyana and twelve other countries in Latin America and the Caribbean will be in Vitória, Brazil from May 16 to 18, to learn about the Brazilian experience of School Feeding Programmes and purchasing from Family Farming, the Food and Agriculture Organisation (FAO) said in a statement. The visit is an international exchange mission promoted by the Internal Cooperation ...

The People’s Progressive Party (PPP) Thursday (May 11, 2017) warned that when government breaks for a parliamentary recess in August, the administration will embark on an unconscionable raping of the treasury in order to facilitate drug purchases through manufactured emergencies. The prediction was made by the former Junior Finance Minister, Bishop Juan Edghill during a press engagement held at the ...

Guyana is finding a hard time hiring contractors from India to execute huge projects here because the rules have changed and the contracts are comparatively too small, Finance Minister Winston Jordan said Thursday. “One of the problems is that there is a new system in place in India- a new procurement tendering system- which, according to High Commissioner (of India), ...

Guyana has scrapped the India-funded Specialty Hospital project and will repay the amount of money that has been already spent on works at the Liliendaal, East Coast Demerara location, Finance Minister Winston Jordan announced Thursday. “This issue is dead, dead,” he told a news briefing when asked about the status of that health institution.  Jordan explained that at the request ...

The rate of implementation of Guyana’s Public Sector Investment Programme (PSIP) has been pegged at a lowly 20 percent, prompting a call by Finance Minister Winston Jordan for retired persons to become evaluators. “If there is one that we haven’t really got going is the Public Sector Investment Programme, we would like to see far more done,” he said, adding ...

President David Granger on Wednesday met with Mr. John Hess, Chief Executive Officer (CEO) of HESS Corporation, the exploration company that holds a 30 percent interest in Exxon Mobil’s offshore drilling operations in the Stabroek Block. The CEO was accompanied by the company’s President and Chief Operating Officer, Mr. Greg Hill, Executive Vice President at Exxon Mobil Exploration Corporation, Mr. Mike Cousins, Country ...

The Caribbean Court of Justice (CCJ) on Tuesday ordered Guyana to refund the Trinidad-based beverage company, SM Jaleel and its subsidiary in Guyana,  a yet to be agreed large amount of Environmental Tax levied between 2011 and 2015 in violation of Caricom’s trade rules. “The Court holds that Guyana has been clearly unjustly enriched at the expense of SMJ and ...

A GYD$14 million contract has been awarded to the German-based meeco Group, along with its Guyanese joint venture company, for the supply and installation of a solar photo voltaic (PV) system at State House. The procurement of the contract was done by the Guyana Energy Agency (GEA) and the local joint venture company is oursun Guyana. “Our joint venture company oursun Guyana ...

Finance Minister, Winston Jordan has scolded the top brass of the Bank of Guyana for its lax monitoring and oversight of the country’s foreign exchange market and anti-money laundering regime. Jordan last week made his views known to the Central Bank’s board of directors against the background of the recent alleged GYD$900 million fraud by a gold dealer and miner against ...

The Guyana Government this past year spent close to GYD$2 billion under questionable circumstances, including without a public tender or on an emergency basis. The revelation was made today (May 8, 2017) in the National Assembly when Government Ministers supplied responses to a slew of questions posed by Peoples Progressive Party Civic Member of Parliament, Bishop Juan Edgehill. With regards ...