Business

Guyana has begun taking steps to register the name, Demerara, as a Geographical Indicator (GI), even as several other countries continue to brand their sugar with that name. The announcement was made by Lead Legal Expert, Bernard O’Connor at the opening of a two-day workshop on “Enhancing market access and promoting certification for quality origin products in Guyana.” “Over the ...

Public Infrastructure Minister David Patterson expects the opposition People’s Progressive Party (PPP) to come good with its case to send him before Parliament’s privileges committee for statements made in the National Assembly on the D’Urban Park project and the company involved, but first the opposition must build evidence to support state-ownership of that company. “We are trying to establish whether this ...

Customers of Fly Jamaica Airways Ltd. can now view the airline’s updated flight schedule for November 29th and 30th at www.fly-jamaica.com/updated-flight-schedule, in the wake of an incident Tuesday morning that resulted in its tail cone being ripped off. At approximately 07:20 hrs this morning at Cheddi Jagan International Airport (CJIA) in Guyana, Fly Jamaica Airways’ B767-300, which was parked at ...

The incident that led to the damage of two aircraft owned by Caribbean Airlines and Fly Jamaica early Tuesday morning appeared to have been caused by an alleged breach of air-side directive at the Cheddi Jagan International Airport (CJIA), according to well-placed sources. Demerara Waves was reliably informed that the Airport Directive specifically states that “no large aircraft should taxi ...

The Private Sector Commission (PSC) on Tuesday gave a mixed reaction to the 2017 National Budget, saying the reduced Corporation Tax will help stimulate production but adjustments to the Value Added Tax (VAT) amounted to a mockery. With consumers now being asked to pay a 14 percent VAT on water and electricity if their monthly bills are more than GYD$1,500 ...

Although the criteria has not yet been finalised, Finance Minister Winston Jordan announced during his 2017 budget speech that $50M will be placed into a Youth Innovation fund (YIF). “This fund will provide a financing platform to launch exceptionally innovative ideas,” Jordan said in the House, “harnessing the energetic and creative minds of our young people.” Jordan hopes the criteria ...

An incoming Caribbean Airlines Limited (CAL) aircraft Tuesday morning  struck a Fly Jamaica plane that was parked at the Cheddi Jagan International Airport but no one was injured. Director of the Guyana Civil Aviation Authority (GCAA), Retired Col. Egbert Field confirmed that the right wing of the CAL plane knocked the tail cone of the Fly Jamaica aircraft which was ...

Small contractors will now be given Temporary National Insurance Scheme and Income Tax compliance certificates, removing a major stumbling block to them bidding for projects and programmes. “Mr. Speaker, currently bidders for contracts are required to have valid Income Tax and NIS compliance certificates. This has especially hampered small contractors from participating in the procurement process. While these requirements will ...

by Derwayne Wills Government has allocated $9B to assist the Guyana Sugar Corporation although more monies would be needed by the ailing public corporation. “The status quo of the sugar industry can neither be sustained nor maintained,” Finance Minister told the National Assembly during his budget speech. “As currently structured, the industry would require Government’s support to the tune of ...

Personal Income Tax has been reduced from 30 to 28 percent for persons earning less than GYD$180,000 per month and the Income Tax threshold has been increased to GD$60,000 or one-third of the gross salary, whichever is greater. Finance Minister, Winston Jordan said in the 2017 National Budget that an additional 7,600 persons would be taken off the tax register ...