Business

The man, who bought Hotel Tower for a new entity, was a mid-level employee for one of the principals of the same hotel under the previous ownership. Sale documents by the High Court Registrar revealed that Seenarine Mathura purchased the property at 74-75 Main Street from Citizen’s Bank following foreclosure  of four mortgages on April 16, 2014. Mathura was an Operations ...

A major Canadian-owned gold mining company is doing its part to ensure its workers located more than 200 kilometers away from the coastland can vote in Friday’s (March 18, 2016), Local Government Elections. Guyanese law requires employers to give their workers reasonable time to vote and that period should not include lunch-break. Sources said Guyana Goldfields is spending about US$50,000 ...

A leading Caribbean business executive on Thursday warned Guyana to guard against possible economic pitfalls that can accompany the commercial production of oil. Addressing the formal opening of Massy’s Supermarket at Amazonia Mall, Providence, East Bank Demerara, President  and Chief Executive Officer of Massy Group, Gervase Warner urged Guyana to use its expected oil wealth wisely. “There is a lot ...

Concerns were Wednesday raised that the loss of money as a result of cyber theft at banks and other financial institutions  is not provided  for in the draft legislation currently under discussion. A stakeholder consultation was held for the second time when the draft Cybercrime Bill 2016 was discussed at the Pegasus Hotel Wednesday 16, 2016. Those in attendance included Minister of Legal ...

The Guyana government is partly banking on the 50th Independence anniversary and the Caricom Summit to trigger higher consumer spending and help revive a still sluggish economy. Shrugging off concerns in certain quarters that about GYD$300 million is being spent on the Jubilee activities, Finance Minister Winston Jordan called the amount of money allocated to the Ministry of Education “peanuts” ...

Construction of the controversial Specialty Hospital is expected to begin by year-end now that the Indian company, Fedders-Lloyd, has completed the design for the health care facility, Finance Minister Winston Jordan announced Wednesday. He told a news conference that a contract would shortly be negotiated with Fedders-Lloyd for the construction of the facility at Liliendaal, East Coast Demerara. The Finance ...

Guyana and Norway have picked a Norwegian company to review the financial model of the proposed Amaila Falls Hydro-power station which has been the subject of long-running political bickering between the government and the opposition. “A decision was recently made to utilize Norway’s largest consultancy firm ‘Norconsult’ for this review. With over 50 years of international experience in power generation ...

An 18-year old man was Monday afternoon killed after a mining pit at an illegal operation caved in on him, authorities said. Police identified him as Trenston Sebastian of Kurukubaru, Region 8. The Guyana Geology and Mines Commission said the incident occurred in the Konawaruk area Mining District 2 at a mining pit that was operating without approval. “It was also ...

Plans are underway to build a multi-million dollar fish-processing plant at Victoria, East Coast Demerara where at least 200 direct jobs could be generated. “We won’t be able to hire everybody out of Victoria but there will be a need for employment of people from the area,” Proprietor of Global Seafood Distributors and Chairman of the African Cultural and Development ...

Passengers flying aboard Jamaica-based airline Fly Jamaica will no longer have to endure the painstaking experience of having to disembark the flight en route to the United States to undergo a second security check after leaving Guyana. The American policy implemented by their Transportation Security Administration (TSA) has been in place for a number of years, restricting all non-American airlines originating ...