Business

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 He, however, said an assessment would first have to be conducted before the coins are withdrawn.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 ...

Minister of Natural Resources, Raphael Trotman on Saturday questioned the motive behind the  Guyana Gold and Diamond Miners Association (GGDMA)’s castigation of government’s efforts to improve the mining sector, and vowed that the “free-for-all” days are over. “Unfortunately, this recent attack, having taken the Ministry by surprise, suggests that the GGDMA prefers to see itself as a pressure group rather ...

The Private Sector Commission on Thursday called on government to take several steps to pull Guyana out of economic doldrums. Addressing the Annual General Meeting (AGM) held at the Marriott Hotel, Battery Road, Kingston, the Chairman of the PSC’s Finance and Economic sub-committee, Ramesh Persaud called on government to send clear signals to investors. “We want the government to share their ...

Even as Junior Natural Resources Minister, Simona Broomes fended off concerns about conflict of interest in the mining sector, information has surfaced showing that she applied for permission to conduct mining activity on someone else’s property while being a minister of that sector. Demerara Waves Online News was able to independently confirm that veteran miner, Edward Hopkinson granted Broomes permission ...

Opposition Leader, Bharrat Jagdeo on Wednesday flayed the one-year old coalition-led administration for taking credit for several projects initiated by then People’s Progressive Party Civic government, while at the same time burdening Guyanese with higher taxes, joblessness and reduced confidence in the economy. “The people do not have confidence in this government and every single day they do things to ...

Guyana has joined the Islamic Development Bank (IDB), officials said at the bank’s annual meeting in Jakarta, as Islamic finance expands globally by offering countries access to cheap loans. Around 10 percent of Guyana’s population of 800,000 are Muslim, and Islamic finance activity in the country is minimal. Membership of the Jeddah-based based IDB, a multilateral lender dominated by Muslim-majority ...

Guyana and Dutch St. Maarten are exploring ways of establishing trade, mega farming, and  tourism between the two countries, according to top officials. Guyana’s Director General of Tourism, Donald Sinclair floated the idea at last weekend’s Guyana Independence Jubilee event held at Port de Plaisance, St. Maarten.  “What are you doing could be a possible model for our Guyanese in the ...