Business

The Guyana Agricultural and General Workers Union (GAWU) and the National Association of Agricultural, Commercial and Industrial Employees (NAACIE) are claiming thatthe Guyana Sugar Corporation (GuySuCo) is planning to close the LBI sugar estate. This is the second sugar estate that would be closed under the APNU+AFC administration in 2016. According to a joint statement, the Unions met with the principals ...

Demerara Distillers Limited (DDL) on Tuesday (April 14, 2016) announced that an amicable settlement has been reached with the Guyana Revenue Authority (GRD) to resolve a long standing dispute over Consumption Tax that began in 2002. The company, in a statemenr, said the settlement follows an extended legal battle between DDL and GRA arising out of the Consumption Tax assessment levied against ...

Demerara Tobacco Company (Demtoco) fears that if the Tobacco Bill becomes law in its current form, Guyana’s economy could be hurt severely and even employees in the industry could be blocked for several years from working with government. “A day will come when we will not be able to have this kind of conversation in this forum because  we will ...

Despite the absence of modern copyright and intellectual property legislation, the Institute of Private Enterprise Development (IPED) is investing millions of dollars in the creative industries. Chief Executive Officer of that micro-financing institution, Ramesh Persaud said he is not too worried about the limited protection that rights-owners currently have, but instead his lending agency expects the cash-injection would trigger action ...

The APNU+AFC Administration has been accused of bullying the private sector to make donations to special projects and more specifically to make contributions to the 50th Anniversary Jubilee celebrations. Sources have reported to Demerara Waves that the administration is asking that businessmen donate as much as $5M to the Jubilee Festival expected to get into full swing in May. As ...

President David Granger has refused to name financiers of the coalition’s 2015 general election campaign and the amounts they gave, saying that he does not want certain businesses to be victims of politically-inspired boycotts. He assured that the funds received were not proceeds of crime. “We have received money or the coalition, as several parties, did receive monies during the ...

The Guyana Telephone and Telegraph Company (GTT) on Friday donated a grand total of $1M to the Golden Jubilee Celebrations which will be specifically used for a local fashion show. Over at the Ministry of Telecommunications and Tourism, Minister Kathy Hughes was on hand to receive the donation and thank the company for its support. The Minister detailed that the ...

In the wake of the leaked Panama Papers that show that several politicians and other prominent persons have stashed monies overseas, Guyana’s former President Bharrat Jagdeo said Thursday that he has not hidden any of his wealth there or any other tax havens. “The answer is ‘No’ or anywhere,” he told a news conference. The leak of millions of files ...

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. ...