Business

State Minister Joseph Harmon has described the situation that the Guyana Sugar Corporation (GuySuCo) was faced with as an “economic nightmare” even while assurances were being given that stakeholders would not be jeopardized. Harmon at a post cabinet press conference on Wednesday defended the decision by GuySuCo’s management to close the estate and the Government’s support of the said plan. ...

Opposition Leader Bharrat. Jagdeo Wednesday said the People’s Progressive Party Civic (PPPC)-led administration had planned to secure a US$50 minion line of credit from India to rehabilitate the sugar factories. He pledged to help the coalition administration to get the money. “We can work with them ‎ to mobilise 50 million dollars,” he told a news conference at Freedom House, ...

The Wales sugar estate has been in a sinking economic state, and over the years, finances were shuttled from the estates which were performing to support that West Demerara estate. This was made clear by Chief Executive Officer of the Guyana Sugar Corporation (GuySuCo), Errol Hanoman during a televised interview on the National Communications Network (NCN) Tuesday evening, hours after Opposition ...

Leader of the Opposition Bharrat Jagdeo says that the move by the APNU+AFC administration to cease all operations at the Wales Sugar Factory and  Estate of the Guyana Sugar Corporation (GuySuCo)  is a direct assault on supporters of the Opposition People’s Progressive Party (PPP) but it will not bode well for the country. Jagdeo, addressing cane-cutters , residents and others at ...

Reproduced from Offshore Engineer Digital. Eco Atlantic Oil & Gas and Tullow Oil subsidiary companies entered into a 10-year agreement with the government of Guyana to explore the deepwater Orinduik block, offshore Guyana, South America. Subsidiaries Eco Guyana and Tullow Guyana will hold 40% and 60% working interest in the block, respectivley, with Tullow Guyana as operator. Tullow will reimburse ...

Currently there is a short supply of coconuts and plantains on the local market as a result of an infestation by pests in the local farming communities. Areas that predominantly produce coconuts and plantains such as Pomeroon and the Wakenaam Islands have reported an infestation of West Palm Mite and Black Sigatoka. The Chief Executive Officer (CEO) of the National ...

The parlous state of the sugar industry is common knowledge, the government announced through its Information Agency (GINA) Monday afternoon. The new Board of Directors and the Interim Management Committee, appointed in July and June respectively, were charged with, inter alia, bringing a greater level of discipline to bear on the financial operations of the business.  The team confirmed the Government’s ...

A newly-formed Canada-headquartered solar energy company has signed a Letter of Intent with the Guyana government to supply clean electricity, the Chief Executive Officer of Greenheart Tree Energy, Esmonde Klass. “We were given a letter of interest from Minister (of Public Works David) Patterson and now we are waiting for the bidding process,” he told Demerara Waves Online News. Klass ...

Four months after a pro-government group of rice farmers called for the establishment of a stabilisation fund, President David Granger has announced that his government would be doing so. For years Guyana’s rice sector which is a principal export has been subjected to the volatility of the international market. This has left local farmers crying out and up in arms for government ...

Republic Bank plans to be “integrally involved” in Guyana’s 50th Independence anniversary celebrations , a top company official announced Friday night. Addressing the 2016 media appreciation cocktail, Managing Director of Republic Bank (Guyana) Limited, Richard Sammy announced that the bank’s involvement would span across the Caribbean. “First and foremost, Republic Bank (Guyana) Limited will be integrally involved in Guyana’s 50th ...