Business

The Bank of Guyana  (BOG) on Thursday accused exporters of causing a slide in the Guyana dollar by locking off foreign exchange in their accounts while  at the same time buying currencies on the open market. “The BOG noted that there has been hoarding of foreign currency by exporters, as evidenced by the large foreign currency balances that are being ...

Less than 24 hours after a section of the business community expressed concern that Guyana’s exchange rate has plummeted to GYD$230 to US$1.00, the local company representing Dynamic Airways has informed airlines that ticket sales must be calculated at GYD$250. Checks with a number of travel agencies confirmed that Roraima Airways Thursday afternoon informed them in writing that Dynamic Airlines’ ...

by Gary Eleazar The Guyana National Bureau of Standards (GNBS) has secured a US$9M (G$2B) loan from the Inter-American Development Bank (IDB)—monies the entity intends to put towards the improvement of its testing infrastructure and capacities, across its laboratories countrywide. The disclosure was made today (March 23, 2017)by GNBS Executive Director Candelle Walcott-Bostwick, who was at the time speaking with ...

The Georgetown City Council earned just over  GYD$500,000 in the two months from the now suspended parking meter project, according to Deputy Mayor, Sherod Duncan. He told Demerara Waves Online News that figures coming before City Hall’s Finance Committee show City Hall’s 20 percent take from gross revenue amounted to GYD$127,564 in January and GYD$540,240 in February, 2017. Duncan said ...

At least 60 parking meter workers are being laid off following the Guyana government’s suspension of the parking meter by-laws for 90 days, prompting concerns about the employment contract. Smart City Solutions’ (SCS) General Manager, Carlos Gochez told workers in a letter dated March 22, 2017 that “we regret to inform you that due to certain unforeseen circumstances, which have ...

Minister of Communities, Ronald Bulkan’s latest order that suspends the Georgetown parking meter bylaws does not require City Hall’s approval, in contrast to the previous one that was issued one week ago. The order issued on Tuesday states “the Georgetown Metered Parking By-laws 2017 are suspended for three months commencing 21st March, 2017.” Government wants the 90 days to be used to ...

As the value of the Guyana dollar continues to deteriorate from GYD$215 to US$1.00 to as much as GYD$230 in the last few weeks, sources in the foreign exchange market said that is partly because authorities have been clamping down on gold smuggling and drugs trafficking. The Guyana Manufacturing and Services Association (GMSA) on Wednesday warned of a rise in the ...

GTT has launched simpler access to its online top up portal for prepaid mobile customers. The new platform is supported by Prepay Nation, a United States Company and is secure, convenient and real-time. “We are excited to offer GTT’s customers the ability to top up an account in real-time from within Guyana and from across the borders while roaming,” said ...

A man, who lashed off a boot/clamp from his car with a sledgehammer Tuesday evening, is worried about a square off between members of the Guyana Police Force and City Police. “In light of the back-and-forth, I am worried that the Mayor and City Council, the police and the constables will have a shootout on the street. I am afraid ...

Government has formally suspended the bylaws governing the parking meter project and has called in national police to prevent the Georgetown City Council and operatives of Smart City Solutions (SCS) from booting/clamping vehicles “The Minister of Public Security, Mr. Khemraj Ramjattan was also instructed to advise the Commissioner of Police to ensure that as of Wednesday, March 22, 2017 citizens ...