Business

The balance of payment of a hefty US$5M owed by a Chinese company for the sale of shares at telecoms company Guyana Telephone and Telegraph Company (GTT)  has already been paid off. This is according to sources close to the recent trip to China by Minister of State Joseph Harmon to ascertain the position of that payment. It is unsure ...

Prominent businessman, Brian “BK” Tiwari appears to have separated his now rescinded appointment from the rest of the government, saying that he was merely an advisor only to Minister of State, Joseph Harmon and not the coalition-led administration. By the Head of BK International’s account, it calls into question what was Tiwari’s appointment that President David Granger said he revoked. ...

In what is described as a partnership to decrease risk, local oil exploration company Mid Atlantic Oil and Gas Inc. has teamed up with oil giant ExxonMobil in an agreement that will see the company exploring for oil on behalf of Mid Atlantic. The local company has petroleum concessions in the offshore Guyana Basin in the general location of Exxon’s ...

A Brazilian and a Barbadian company are among  five entities that are in the race to rehabilitate and operate the Moco-Moco Hydropower Plant in Lethem, the Ministry of Public Infrastructure said Monday. Under a Build, Own, Operate, Transfer (BOOT) structure, power will be supplied to the Lethem Power Company grid under a negotiated and agreed Power Purchase Agreement, government said. ...

Nineteen Community Development Councils (CDCs) in Mahaica-Berbice and East Berbice-Corentyne on Sunday (April 3, 2016), received letters of approval for small grants under the Government of Guyana’s community development project, which is being implemented through the Ministry of Communities. First Lady Mrs. Sandra Granger was on hand to present the letters of approval to the successful groups. “This is part ...

As plans continue for the construction of a school for autistic children, Minister of Education Dr. Rupert Roopnaraine on Saturday announced that a curriculum would be developed for that category of learners. Republic Bank (Guyana) Limited, at the same time, called on authorities to generate statistics on autism in the country. Speaking at the Promenade Gardens after a Republic Bank ...

Despite widespread criticism about the now revoked appointment of prominent Guyanese businessman, Brian “BK” Tiwari as a ministerial business adviser, Minister of State Joseph Harmon broke his promise to hold a news conference on Friday to deal with the issue. Instead, Harmon spoke with the state-owned Government Information Agency (GINA) which issued a release and made no reference of the Chairman ...

The Chinese-owned bauxite mining company, Bosai Minerals, has been ordered to clean up used oil that the company said was accidentally released into the Demerara River and surrounding waterways, the Environmental Protection Agency (EPA) said Thursday afternoon. The EPA has instructed Bosai to immediately commence clean-up and restoration activities. Meanwhile, the EPA continues with its investigation and monitoring of the ...

The Guyana Power and Light Inc.  on Thursday announced a 20% reduction in net rates for the supply of electricity across all Tariff categories effective April 1, 2016 as a result in the fall of world oil prices during the past several months. GPL explained that the reduction would be applied as a 5% reduction on the basic rate of ...

President David Granger says he personally revoked the appointment of Brian “BK” Tiwari as ministerial advisor on business development and strongly suggested that he was recruited unilaterally. “Mr. Tiwari is not an appointee of the government. He is not performing any function and that is why the position was rescinded,” he said. Granger said the Guyana government has no use ...