Business

The 15-nation Caribbean Community (CARICOM) has formally agreed to back Saudi Arabia’s bid to host Expo 2030 in Riyadh and the establishment of an international water organisation,  in exchange for support in a range of areas including combatting climate change and boosting trade, investment and food security, according to a joint statement. The leaders declared to support Saudi Arabia’s bid ...

General Secretary of the People’s Progressive Party (PPP), Bharrat Jagdeo on Thursday rejected suggestions that his party has abandoned its working-class platform and has instead become one of small-scale businessowners, in stark contrast to his own party’s dogma that names the “petite bourgeoisie” as one of three enemies. While he said the removal of Marxism-Leninism from the party’s constitution is ...

The American Chamber of Commerce in Guyana (AMCHAM Guyana) on Thursday announced the signing of a landmark Memorandum of Understanding (MOU) with the Bilateral Chamber of Commerce, a federal contractor for the United States (US) Trade and Development Agency (USTDA). “This collaboration marks a significant milestone for AMCHAM Guyana and the Bilateral Chamber of Commerce. By joining forces, we aim ...

Amid a slump in gold declaration during this year, the Guyana government has decided to divide the former Troy Resources Mining concession at Karouni, Region 8 (Potaro-Siparuni) and allocate lots to small-scale miners, Minister of Natural Resources Vickram Bharrat said Tuesday. “We have identified an area within the former Troy Resources property and we are allocating claims to Guyanese small ...

Natural Resources Minister Vickram Bharrat on Tuesday said his ministry’s Senior Petroleum Coordinator, Gopnauth ‘Bobby’ Gossai-who was punished for unauthorised negotiation of the reduction US$214 million from ExxonMobil’s cost bank to US$3 million- did so due to inexperience. “I will not attempt to discredit any of my staff; if it was fatal but it was not,” he told a news ...

ExxonMobil started production on Tuesday at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. The Prosperity floating, production, storage and offloading (FPSO) vessel is expected to reach initial production of approximately 220,000 barrels per day over the first half of next year as new wells come ...

The United Kingdom-based BB Energy Trading Limited and JE Energy Limited have won bids to market Guyana’s crude from the three Floating Production Storage and Offloading (FPSO) vessels, Minister of Natural Resources Vickram Bharrat said Thursday. “It’s the first time we will get a premium,” he told Demerara Waves Online News Under the one-year contract to each company, BB Energy ...

President Irfaan Ali on Thursday announced that the previously unused GY$5 billion cost-of-living fund that was set aside in the 2023 National Budget would be handed out as one-off bonuses to government workers, old age pensioners and disabled persons. “This one of bonus payments will benefit almost 160,000 persons and increase their disposable income by over $4.1 billion,” he said. ...

Guyanese farmers are set to benefit from specialised technical assistance under a $5.3 million Caribbean Agricultural Productivity Improvement Activity (CAPA) project being funded by the United States Agency for International Development (USAID), a senior aid official announced Wednesday night. “In Guyana, the programme is currently in the design phase,” Regional Representative of USAID in the Eastern and Southern Caribbean, Mr. ...

President Irfaan Ali on Wednesday announced that Guyana and Barbados were working to end difficulties in the movement of cargo from Trinidad to this South American nation. Addressing the commissioning of a US$8 million mixing plant of the National Milling Company (NAMILCO), a subsidiary of the American company, SEABOARD, the Guyanese leader said steps were being taken to maximise the ...