Business

The two major solid waste disposal companies that serve Georgetown on Friday continued to express grave concern about City Hall’s failure to pay them millions of dollars for services provided during the past several months. Employees of the Georgetown City Council were again not paid on Friday, despite a cautious assurance by a top finance official at City Hall on Wednesday, ...

Guyana’s capital city, Georgetown, has plunged into a deep financial crisis with no money to pay City workers, contracted security, drainage and garbage collection services, according to well-placed sources. A senior financial official at City Hall would only say that workers would “most likely” be paid on Friday,  May 27, 2016. “Money is not there. City Hall does not have ...

The owners of two business premises at the Stabroek Market area on Tuesday secured High Court injunctions, blocking the Town Clerk from demolishing their buildings that house the services that they have been providing for The owners of the Island Restaurant (formerly K&VC ) and Lance Photo Works secured the injunctions on Tuesday. The Town Clerk, Royston King, has been ...

An insurance agent, who fled Guyana decades ago at the height of economic problems and built a Pan-Caribbean insurance empire out of his adopted homeland of St. Maarten, believes that independence helped remove racial discrimination in employment practices. “We have to give a lot of credit- we could say what we want about their political views and behaviors- people like ...

A team of International Monetary Fund (IMF) experts is expected in Guyana shortly to examine ways of reducing the 16 percent Value Added Tax (VAT) ahead of changes that might be announced in next year’s National Budget. Finance Minister, Winston Jordan said a team from the IMF’s Barbados-based Caribbean Regional Technical Assistance Centre (CARTAC) would be going to Georgetown  conduct ...

Finance Minister, Winston Jordan has rejected claims by Opposition Leader, Bharrat Jagdeo that a tax deal between Guyana Revenue Authority (GRA) and Demerara Distillers Limited (DDL) has set a dangerous precedent for similar demands to be made by other companies. “No! Settlements at GRA go on all the time… Listen, they (GRA) didn’t wake up overnight and decide to settle,” ...

One dollar and five dollar coins are to be pulled out of circulation soon, Bank of Guyana Governor, Dr. Gobind Ganga announced on Monday. No date has been set. He, however, said an assessment would first have to be conducted before the coins are withdrawn. “We are currently looking at the feasibility of eliminating the one dollar coin of which ...

Finance Minister, Winston Jordan on Monday said he was yet to get a plan off the ground that would result in job-creation, but cited political stability and value-added production as major ingredients. “I am going to pin down a numerical target as soon as I could get my national plan going,” he told a news conference at the Finance Ministry ...

Radio Lethem 95.1 FM was officially switched on air Sunday, by Guyana’s Prime Minister and First Vice President Moses Nagamootoo in Lethem, Region Nine as it broadcast the official opening ceremony, according to the Government Information Agency (GINA). Immediately following this, the first interview was done on air with the high-level government team that was in attendance. Addressing residents of ...

More than GYD$1 billion in licence fees paid to the National Frequency Management Unit (NFMU) have been illegally used to help finance the People’s Progressive Party Civic-led administration’s two flagship projects- One Laptop Per Family and E-Government, a special probe has found. “Apparently, failing to appreciate the precedence of statute over “Government policy”, the management of the NFMU misguidedly continues ...