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Business

Presidents of Guyana, Brazil agree to search for financing for integration projects

President Irfaan Ali announced that he and his Brazilian counterpart, Luis Inacio ‘Lula’ Da Silva on Thursday agreed to establish a working group to search for money to build transportation links between their two South American countries. “We want to put together a technical working group that will commence working immediately to develop a mechanism through which we can have ...

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CARICOM leaders frown on apparent rules breach in sending CDB president on leave

Leaders of the 15-nation Caribbean Community (CARICOM) ended their three-day summit in Guyana expressing concern over the decision by the Board of Directors of the Caribbean Development Bank (CDB) to send that financial institution’s President, Hyginus ‘Gene’ Leon on leave to make way for an investigation. “On first blush, I think that the whole process is somewhat flawed and I’m ...

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Jagdeo chairs Caribbean development finance working group

Vice President Bharrat Jagdeo was Wednesday selected to chair a Caribbean Community (CARICOM) working group to search for more money for the CARICOM Development Fund (CDF) to cushion impacts on member nations and promote growth, Barbados’ Prime Minister Mia Mottley said. She told a news conference to wrap up the three-day summit of CARICOM leaders in Georgetown that Mr Jagdeo ...

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UK increases lending window to Guyana govt, private sector

Businesses in Guyana would now be able to access a maximum of GB£2.1 billion through UK Export Finance (UKEF), the United Kingdom’s credit agency, than those available from local commercial banks but none of the money can be used in the oil sector, the UK’s Minister for the Americas, David Rutley announced on Tuesday. Chairman of Guyana’s Private Sector Commission ...

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Canadian loan to boost Guyana’s social services programmes

Canada is lending Guyana CAD$120 million to support social services delivery in a number of areas, with the Inter-American Development Bank (IDB) co-financing the amount with US$30 million, the Canadian High Commission said Tuesday. The High Commission says the loan will be utilised to improve social protection and public assistance under the Ministry of Human Services and Social Security (MHSSS). ...

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Workers arrested for bags of cocaine intercepted at Cheddi Jagan Airport

A loader and a private security agent at the Cheddi Jagan International Airport were arrested Thursday in connection with several bags of cocaine that were allegedly delivered over the airport fence, according to the Customs Anti-Narcotics Unit (CANU). CANU said the 71.2 kilogrammes of cocainne were seized at a time when a New York-bound Caribbean Airlines flight and a British ...

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Guyana eyes becoming major regional natural gas supplier

Guyana plans to export its excess natural gas to Brazil and several Caribbean countries and eventually fuel a bauxite smelter and gold refinery,  President Irfaan Ali announced on Monday. “Based on pure interest by investors, we are already seeing the second phase of gas coming in will already have to support a second power plant,” he told the government-backed Guyana ...

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Planned US$300 million hotel will increase Guyana’s competitiveness as major conference destination

The construction of an almost US$300 million hotel by a Qatari group on the National Insurance Scheme (NIS) ground on Carifesta Avenue is part of a plan to increase Guyana’s competitiveness to host major conferences, Tourism Minister Oneidge Walrond said at Sunday’s symbolic bricklaying. By adding 400 rooms to the existing 330 rooms in first class facilities within one mile, ...

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Massive national overhaul needed for true human development- Lawyer Hughes

Attorney-at-Law Nigel Hughes on Friday recommended a wide-ranging overhaul of Guyana’s political, educational and economic systems so that all Guyanese benefit from the country’s wealth in an era where ideology is no longer a barrier. Among his recommendations is that there be truth and reconciliation of atrocities that had been committed over the decades while at the same time craft ...

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