Business

United States Senator Tim Kaine has said that President Irfaan Ali was upset that that country had blocked an Inter-American Development Bank  (IDB) US$180 million loan to Guyana Shore Base Inc (GYSBI) because its operations were dedicated to the oil and gas sector and even cautioned that China could provide financing “with no strings attached.” Recalling a meeting with Dr ...

Vice President Bharrat Jagdeo on Thursday said the licence for the Liza reservoir project would be extended to ensure that natural gas is available for Guyana’s gas to shore electricity and natura gas liquids plants for 20 years. Mr Jagdeo told a news conference that the decision to extend the licence followed the completion of the field development plan for ...

Vice President Bharrat Jagdeo on Thursday said it has rejected all of the offers by private investors to buy the State-owned Marriott-branded hotel because the prices that have been offered are too low. “We will not proceed with any of the bids because they we believe that they are too low based on the value of that asset asset now ...

GTT, Inc. (GTT), a leading provider of technology services in  Guyana and WANSAT Networks Inc. (WANSAT), a Guyanese-owned Internet Service Provider with  a focus on providing satellite broadband connectivity to rural and hinterland areas have announced  the launch of their partnership “Connectivity Anywhere”, a new satellite internet service. GTT says  the fast, affordable, and reliable connectivity to rural and hinterland ...

Vice President Bharrat Jagdeo on Wednesday said government has approved the development of the Uaru reservoir located in Guyana’s deep-water, hours after Hess Corporation said it was expecting the project to get the green light this week. “It was done after vigorous analysis by external consultants,” he said on the sidelines of the presentation of the Report of the Commission ...

Hess Corporation, a partner in the Stabroek Block offshore Guyana, on Wednesday announced the discovery of more oil in that concession. “The Corporation today announced an oil discovery at the Lancetfish-1 well on the Stabroek Block, offshore Guyana,” Hess said. The operator, ExxonMobil, was yet to announce the fresh discovery  which is approximately 4 miles southeast of the Fangtooth discovery. ...

Top financial intelligence officials of Trinidad and Tobago, and the British Virgin Islands (BVI) are in Guyana on a fact-finding mission as part of steps to support this country’s application to join a global financial intelligence-sharing network, Attorney General Anil Nandlall said Tuesday night. While Mr Nandlall was confident that Guyana would be admitted to the Egmont Group in 2024, ...

The Caribbean Community’s (CARICOM) decades-old sea transportation humbug reducing the region’s more than US$5 billion food import bill would gradually be resolved possibly with India’s assistance, and already the new India-made North West District ferry is expected to ship agricultural produce from northwestern Guyana to Trinidad, President Irfaan Ali announced on Sunday. “We are going to look at CARICOM to ...

India’s Foreign Minister  Dr. Subrahmanyam Jaishankar on Saturday said he and his counterparts of the 15-nation Caribbean Community (CARICOM) agreed that there would be annual business summit aimed at boosting trade in goods and services. “We agreed that it would be our endeavour every year to hold an India-CARICOM business summit- one year in the Caribbean, one year in India- ...

Former Guyanese international cricketer Ramnaresh Sarwan is President of the India-Guyana Chamber of Commerce whose formation was announced at a business roundtable where India’s Foreign Minister Dr. Subrahmanyam Jaishankar was the featured speaker. No representative of the new business organisation spoke at the event that was held at the Guyana Pegasus, but the chairman of the proceedings said the chamber ...