Business

by Derwayne Wills  Guyanese will now have to pay Value Added Tax (VAT) on water and electricity consumption above a certain level, while the overall of Value Added Tax on businesses has been reduced to 14 percent on companies, Finance Minister Winston Jordan announced in the 2017 National Budget. In a move that has left many puzzled, Finance Minister Winston ...

Guyana will next year construct the first solar farm as part of a larger plan to reduce the country’s fossil fuel bill and  prevent carbon emissions. “To complement public sector investment, the Government will be granting a one-off tax holiday of two years for corporation tax to importers of items for wind and solar energy investments, and for investors in ...

Guyana’s economy  will record a 2.6 percent growth  in 2016 due to a decline in some prices and lower growth in several sectors, Finance Minister Winston Jordan announced on Monday. Delivering the 2017 National Budget, he told the House that the economy contracted from a projected 4.4 percent to a mid-year 2 percent and a further overall decline to 2.6 ...

After weeks of disconnected land-line and shaky cellular connection in Mabaruma from Guyana’s only land-line provider, residents of Mabaruma, North West District are breathing a sigh of relief after the community of 300 subscribers was finally reconnected last Sunday. Reports reaching Demerara Waves Online News suggest that residents were left out of the loop for quite some time about what ...

ExxonMobil has dismissed suggestions that Guyanese are not being hired, and has announced a plan to train and recruit locals for ongoing preparatory work and actual commercial production. Country Manager, Jeff Simmons said the evidence shows that ExxonMobil is not interested in importing foreigners instead of Guyanese. “One common mis-perception is that we don’t want to have local content, we ...

ExxonMobil has ruled out building a refinery in Guyana because the amount of oil found here is too small to support such a venture. Delivering a presentation to the Guyana Manufacturing and Services Association (GMSA) Awards and Dinner, the Country Manager of ExxonMobil’s local subsidiary- Esso Exploration and Production Guyana Limited- Jeff Simons said the projected production of  about 100,000 barrels per ...

Opposition Leader Bharrat Jagdeo is not buying the position of Attorney General Basil Williams that Guyana is in the green zone for compliance with the global push for anti-money laundering regimes. “If we lull ourselves into a sense of false security, then we are going to repeat a lot of the mistakes made by the Attorney General, and we are ...

President David Granger Thursday said Homestretch Development Incorporated (HDI) was established solely to facilitate completion of the D’urban Park Development Project in time for Guyana’s 50thIndependence Anniversary celebration in the absence of budgetary allocations, following the May 2015 elections.  The Head of State, in a statement issued by his ministry  admitted that while this may have been an unusual course ...

Opposition Leader Bharrat Jagdeo on Thursday called on government to pay members of the Disciplined Services and public servants a one-month bonus because there is sufficient money in the treasury. The former Guyanese leader was unabashed about his motives for the suggestion- political support and economic stimulation. “If we get the political sympathy, that’s a bonus but who would not want political ...

Opposition Leader, Bharrat Jagdeo on Thursday announced that his office would help protest the award of multi-million dollar contracts by the Public Procurement Commission (PPC). Now that the public procurement commission (PPC) has been established, Jagdeo has instructed members of his camp to investigate cases which warrant protests so that his office can follow through with those protests at the ...