Business

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 ...

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 ...

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 ...

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 ...

The Greater Guyana Initiative (GGI)-funded Enhancing Community Wellness Project, which aims to reduce the prevalence of chronic health conditions in 150 participants was officially launched August 30 at 3t EnerMech, Lusignan, East Coast Demerara (ECD). This project is being led by the Roraima Learning Trust (RLT) and aims to reduce the prevalence of chronic health conditions such as diabetes and ...

The Public Utilities Commission (PUC) said Guyana’s three telephone companies and the number portability company were conducting rigorous tests before launching the service that would allow subscribers to change their phone service providers but keep their existing numbers. “The critical stage of the live testing of numbers amongst the service providers is now a daily exercise. This testing component is ...

Two men, who allegedly robbed a supermarket at Lusignan, East Coast Demerara were Monday arraigned on a charge of robbery under arms and were granted bail, police said. The accused are 26-year old Jamal Seymour, a carpenter of Lot 176 Campbell and Sussex Street, Albouystown, Georgetown and 29-year old Ryan Goodluck, a vendor of Lot 928 Herstelling, East Bank Demerara. ...

The Caribbean Financial Action Task Force (CFTAF) on Monday began a nine-day evaluation of Guyana’s readiness to fight money laundering, and the financing of terrorism, nuclear, chemical or biological weapons. The 4th Round Mutual Evaluation of Guyana’s Anti-money Laundering/Countering the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF) regime is part of the country’s international compliance obligations under the France-based Financial Action ...

Guyana has expanded its wheat growing trials, more than one year after the country touted the idea in response to the adverse effect of the Russia-Ukraine war on grain production and exports, President Irfaan Ali said Friday. Addressing the formal launch of the 17th Caribbean Week of Agriculture, he said more land has been set aside for additional trials. “Wheat ...

The Guyana government would be approving United Kingdom oil company, Tullow’s sale of 60 percent stake in the Orinduik Block to the Toronto-headquartered Eco Atlantic (Oil and Gas) Limited, Guyana’s Vice President Bharrat Jagdeo announced on Thursday. While Tullow had announced on August 11, 2023 that it was selling its share in the Orinduik Block for an estimated US$700,000, that ...