Business

MOSCOW (Sputnik) – The Russian state arms exporter Rosoboronexport has held talks on supplying Russian defense systems to the Co-operative Republic of Guyana with the country’s leadership, the corporation said Friday. Talks between the Rosoboronexport delegation, headed by deputy chief executive Sergei Goreslavsky, and the political and military leadership of the Co-operative Republic of Guyana were held in Georgetown with the aim of establishing and developing contacts ...

In a move aimed at triggering increased demand for data services and compensating for an expected decline in revenues from regular telephone calls, the Guyana Telephone and Telegraph Company (GTT) on Wednesday launched free 4G access to more than 20 information-based websites. The phone company also offers unmetered Facebook and WhatsApp usage. GTT’s Chief Commercial Officer, Gert Post expects that ...

Residents of Paramakatoi, Region Eight will be launching a project that will allow them to grow, dry, package and market organic tomatoes. This project will be supported by the Ministry of Indigenous Peoples’ Affairs, through the Institute of Applied Science and Technology (IAST) and other partners. “This project will hopefully solve the issue of employment in the community, and will ...

President David Granger has suggested that anti-corruption critics of his government should turn their attention to the private sector, individuals and other organisations where the scourge is more rampant. “It is my view that corruption in Guyana is most widespread outside of government. The crimes of tax evasion, contraband smuggling, narcotics trafficking, trafficking in persons, money laundering- all contribute to ...

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,” ...