Business

Demerara Waves Report (C) 2017 ExxonMobil will eventually scale back hiring exploration support from Trinidad-based companies and will instead turn to a shore-base operation in Guyana for production operations, even as it eyes exploring two other potential oil reservoirs, Country Manager, Jeff Simon announced. He said the company was evaluating its latest oil find at Payara, and considering exploration at two other locations- ...

Banks DIH Limited’s High Court action to claim GYD$28.4 billion in purported mistakenly paid consumption taxes and interest was Wednesday knocked down by Attorney General, Basil Williams on the grounds that time has long passed for the company to take action against the Guyana Revenue Authority (GRA). Stressing that he was improperly named as a defendant by the company because ...

Georgetown’s City by-laws governing the operation of parking meters have been approved by Local Government Minister, Ronald Bulkan, clearing the way for the commencement of paid parking. “The system will become operational,” he said when asked whether metered parking could begin on Tuesday, one day later than scheduled. Spokesman for Smart City Solutions, Kit Nascimento has said the parking meter ...

Banks DIH (Limited) has sued the Guyana Revenue Authority (GRA) for a total of GYD$28.4 billion in what it says are overpaid consumption taxes and interests due to a legal mistake. Meanwhile, Opposition Leader Bharrat says the case by Banks DIH vindicates his stance against a settlement for Demerara Distillers Limited’s (DDL) to pay GYD$1.5 billion in consumption and excise ...

Paid parking in Guyana’s capital, Georgetown has hit a slight snag because Minister responsible for Local Government, Ronald Bulkan has not yet approved parking meter by-laws, he said Sunday. Bulkan said he got the by-laws on Friday, January 20, 2017 and expects that his Legal Department would review them on Monday- January 23- the same day that Smart City Solutions ...

Finance Minister, Winston Jordan has warned that government would take stern action against a small number of players who are responsible for instability in Guyana’s foreign exchange market, even as he sought to allay fears of a foreign exchange shortage. “We will continue to use moral suasion to return the market to stability. But the Government stands ready to act ...

Two Indian companies – one  an alloy steel casting manufacturer for sugar factories and another specialised in sugar production- as well as a United States (US)-based company owned by a Guyana-born American freight forwarder are interested in investing in the ailing Guyana Sugar Corporation (GuySuco), even as government said Thursday it was becoming impatient waiting on proposals from the opposition ...

Guyana has decided to begin examining the feasibility of establishing an oil refinery, as several local and foreign companies continue to express an interest in setting up such a facility here in response to increasing oil finds offshore. Minister of Natural Resources, Raphael Trotman said consultant, Pedro Haas has been hired through the New Producers Group of the Royal Institute ...

Smart City Solutions (SCS), the operators the parking meters in Georgetown, on Thursday has summoned a meeting with the National Commission on Disabilities (NCD) to discuss concerns about the location of several meters virtually in the middle of a number of pavements. SCS further hinted that it would be willing to consider  removing those badly placed meters to ensure they ...

The Guyana government on Tuesday insisted that it would be sticking with the Stabroek via Brickdam to D’urban Park route for the Mashramani costume and float parade, citing it’s historical significance and safety concerns. Following a decision taken in 2016 as part of the Golden Jubilee Celebration, the Education Ministry through its Department of Culture has opted to stick to ...