Business

Finance Minister, Winston Jordan on Friday declared that he does not believe in granting concessions, but instead prefers to lower taxes over a period of time. Wrapping up the National Assembly’s debate on the GYD$250 billion budget for 2017, Jordan said he has long told the Private Sector Commission (PSC) that they should not go to him for concessions. He ...

Almost 100 sacked workers at the Guyana Sugar Corporation’s (Guysuco) Wales Estate  have received GY$80.1 million in severance pay, Prime Minister Moses Nagamootoo announced on Friday. He said after the monies were paid to the 93 former workers at the Wales Estate, the Guyana Agricultural and General Workers Union (GAWU) that had brought a court case against the company for ...

Opposition Leader, Bharrat Jagdeo on Friday said the failure of government to attract new investments was causing a shortage in United States dollars (US$) instead of a buying of that currency by Barbadians and Trinidad and Tobago nationals to satisfy their countries’ demand for foreign exchange. He warned that government’s failure to attract Foreign Direct Investments, down to a mere ...

The Bank of Guyana on Thursday announced that it has temporarily stopped buying Barbados, and Trinidad and Tobago dollars from cambios as part of efforts to stem increased demand for United States (US) dollars. He said there was evidence shows that persons have been coming from Barbados, and Trinidad and Tobago to buy American dollars, resulting in a decision by ...

The Guyana National Newspapers Limited (GNNL) on Thursday announced that it has fired its Sunday Editor, Neil Marks because of alleged dereliction of duty. Marks declined to comment, when contacted by Demerara Waves Online News. In a statement, the entity said it regretted the decision but the “Management as guided by the Board of Directors found it necessary in order ...

Finance Minister, Winston Jordan says the Guyana Revenue Authority (GRA) will only withhold earnings from persons’ bank accounts to pay income taxes owed if the court grants an order. Acknowledging that no details about the plan were provided in his budget speech, he explained that the provisions of the Value Added Tax (VAT) Act would be extended to the Income ...

Minister of Education Dr. Rupert Roopnaraine on Thursday denied that he ever benefitted personally from cash or other donations that had passed through a company that had been established to develop D’urban Park for Guyana’s 50th Independence Anniversary. “In over forty years of political activism, striving to achieve a better Guyana, I have never hidden behind anyone. In over forty ...

Plans are moving apace to begin mapping Guyana for 40 minerals and conduct a detailed on-the-ground assessment and inventory at all mining districts, Junior Minister of Natural Resources Simona Broomes said Wednesday. She announced that GYD$2 billion have been set aside in the 2017 National Budget to begin the mapping exercise by the Geological Surveys Department of the Guyana Geology ...

Government will be accommodating women working in the mining districts in hotels instead of the shanty structures known as ‘kaimoos’, Junior Minister of Natural Resources Simona Broomes announced on Wednesday. “The word ‘kaimoo’ will be a word of the past. We inherited a government who had women in kaimoo. Let me put you on notice. We will have them in ...

Value Added Tax (VAT) on Internet data will be used to help fund the Guyana government’s Information Communication Technology (ICT), Public Telecommunications Minister Cathy Hughes said Wednesday. “The CAT on data has also received harsh criticisms but I want to remind us all that it is a necessary revenue stream given the range of transformational measures I have shared. In ...