Business

Government’s announcement of a reduction in fuel prices  from Monday, February 1 will now see consumers paying less than GYD$90 dollars off of a gallon of gasoline at the pumps of the state-owned Guyana Oil Company (GuyOil). In his 2016 National Budget presentation on Friday, Finance Minister,Winston Jordan  also announced that the price of diesel will be reduced by less ...

Even as government increased the Income Tax threshold from GYD$50,000 to GYD$55,000, it announced that a range of fees would increased. In relation to public sector wages and salaries, Finance Minister Winston Jordan  did not announce a specific increase in wages and salaries because that would be subjected to negotiations with the trade unions. They include gun licenses. No specific ...

The Ministry of Natural Resources has decided to establish a Compliance Division to police the scaling back of the use of mercury and overall verify that miners and loggers are complying with Guyana’s laws and regulations. “The compliance unit really is going to be attached to the ministry so they are going to be going out on behalf of the ...

Guyana is currently contemplating joining a list of other Caribbean countries in search of another fuel supplier in order to reduce reliance on Trinidad and Tobago, now that Venezuela’s PetroCaribe has dried up as a fuel sources. Speaking at the induction of the Board of the Guyana Energy Agency (GEA) on Thursday, Minister of Public Infrastructure, David Patterson said he ...

The drought has begun battering Guyana’s agriculture sector, forcing authorities to begin pumping water into the drying up conservancies. Briefing a high-level multi-sectoral meeting on the El Nino situation, Agriculture Minister Noel Holder said efforts would be made to pump water to support agricultural areas but also explore ways in which water can be retained in a controlled manner for ...

The Trinidad-headquartered Republic Financial Holdings Limited (RFHL) has recorded a profit attributable to shareholders of US$48.2 million, for the quarter ending December 31, 2015, the company said in a statement. This represents an increase of 3.1% over the corresponding period in 2014. Total assets of RFHL stood at US$10.3 billion at December 31, 2015, which, when compared with that of December ...

Winston Brassington has given up his job as Head of the National Industrial and Commercial Investments Limited (NICIL), according to a Finance Ministry spokeswoman. She said Brassington’s contract expired on December 31, 2015 and he formally indicated that he would not be renewing it. That disclosure came hours after Demerara Waves Online News first reported that as of 20th January, ...

 Three men were Wednesday arraigned for a GYD$2 million robbery committed on the Bank of Baroda’s Mon Repos branch, East Coast Demerara. They are 34-year old Sean Anthony ‘Rattie” Aaron of ‎ ‎317 North East La Penitence, 28-year-old Kennard Jabbar of 88 Freeman Street, and graphic artist 39-year old Eon Campbell.  They were not required to plea to the indictable charge ...

Opposition Leader Bharrat Jagdeo has huge expectations of the APNU+AFC administration relative to the 2016 Budget slated for presentation on Friday January 29. Jagdeo at a press conference on Wednesday read out some of his expectations on what he hopes to see as part of the 2016 Budget. Those include salary increases and tax reductions. He said that there should ...

Former Minister of Natural Resources and the Environment, Robert Persaud and his wife have set up a company in Florida to “conduct any and all lawful business.” According to incorporation records seen by Demerara Waves Online News, registration for I-Power Services Inc. was filed on February 10, 2015, three months before the May 11, 2015 general and regional elections. Since ...