Business

The Guyana government and the parliamentary opposition Tuesday strongly rebuffed Venezuela’s attempt to scare investors who have bid for eight offshore oil blocks by claiming ownership to those areas. Reacting sharply to Venezuela’s strong rejection to Guyana’s “illegal bidding round” for oil blocks on the basis that Georgetown does not enjoy sovereignty over that area, President Irfaan Ali warned that ...

The United States (US) Congressional Black Caucus (CBC) has made no mention that Guyana’s political issues were discussed last week with President Irfaan Ali, in contrast to a separate statement issued by Minority Democratic Leader Hakeem Jeffries. The CBC said President Irfaan Ali, Mr Jeffries, CBC Chairman Steven Horsford and other Members of the Congressional Black Caucus “had a productive ...

The Caribbean Financial Action Task Force (CFATF) has identified several areas that Guyana needs to tighten up as part of the global fight against money laundering and fighting terrorism, even as that regional organisation is satisfied with steps that have been taken so far to bring the country into legal compliance. While Guyana was using formal and informal mechanisms such ...

MiddleRoad Publishers wins the Guyana Prize for Literature Fiction Reproduced from Brampton Guardian By Alexandra Shimo Brampton Guardian They publish just four books per year. They operate on a shoestring budget. Yet Brampton’s MiddleRoad Publishers has on its roster the book that won the 2022 Guyana Prize for Literature Fiction. “It was euphoric,” said author Ken Puddicombe, who — as ...

Vice President Bharrat Jagdeo on Thursday admitted that the new legal and fiscal terms for acquiring an oil block in Guyana, coupled with international conditions, resulted in a mere 8 bids for the 14 oil blocks offshore the South American nation. “Just imagine this bid round taking place under the old conditions, I believe we would have had all 14 ...

President Irfaan Ali on Wednesday shrugged off suggestions that bids for a mere six bids for the 14 offshore oil blocks did not meet his government’s expectations. “I’m not disappointed.  I think this is a tremendous accomplishment given the circumstances of the market and the realities we are operating in,” he told an Inter-American Dialogue forum in Washington DC, in ...

The Trinidad-headquartered Ans McAl group of companies on Tuesday formally announced the establishment of a US$15 million subsidiary, Ansa Building Solutions (ABS) in Guyana that will eventually cater for various aspects of the infrastructure sector including laboratory and other tests. Initially, the company is employing 45 more persons and is offering paint with mixtures that can generate more than 2,000 ...

A Guyanese women-owned led company and ExxonMobil are among six separate expressions of interest in Guyana’s first ever auction for oil blocks offshore. The bids were opened by the National Procurement and Tender Administration Board, after several push-back in deadlines that allowed for the passage of a new Petroleum Act and the drafting of a new model Production Sharing Agreement. There ...

The private sector on Tuesday appeared satisfied with steps that would be taken to ease an apparent shortage of foreign exchange at  commercial banks, even as the Chairman of the Private Sector Commission (PSC), Komal Singh indicated that he was satisfied with the outcome of Monday’s talks. “The meeting yesterday (Monday) was a very fruitful meeting from a private sector ...

Representatives of the banking sector and the business community are next week Monday scheduled to hammer out ways of addressing concerns about the availability of foreign exchange, President Irfaan Ali said Saturday. He said he has instructed the Minister of Finance Dr Ashni Singh to convene a stakeholder meeting with the private sector, the Bank of Guyana, all commercial banks ...