Business

Canadian oil exploration companies, CGX Energy Inc. and Frontera Energy on Wednesday announced their discovery of oil at the Wei-1 well in the Corentyne block offshore Guyana. The joint venturers said they discovered approximately 200 kilometers offshore from Georgetown, Guyana. “The Joint Venture has successfully finished drilling operations without any safety incidents and expects to release the drilling rig in ...

Several protesters in Plaisance, East Coast Demerara on Tuesday greeted Vice President Jagdeo to vent their anger against the widening of the Railway Embankment Road because they would lose their properties and livelihoods as vendors and other businesspeople. After waving placards and chanting slogans , most of them failed in their attempt to enter the school to express their concerns ...

The Caribbean Community’s (CARICOM) leader responsible for food security, Guyana’s President Irfaan Ali on Tuesday lamented the absence of health, education and technology from the region’s mission to increase food production and eat healthy. Overall, he said studies show that the cost of a healthy diet is very expensive in the Caribbean and Latin America. “Something is wrong so we ...

A section of Guyana’s private sector on Saturday bluntly told a Caribbean Community (CARICOM) expert that there are no risks to humans, plants and animals if Trinidad and Tobago stops blocking the transshipment of honey to other regional and international markets. Vice Chairman of the Guyana Manufacturing and Services Association (GMSA), Rafeek Khan and GMSA Adviser Ramesh Dookhoo confronted Chantal ...

Vice President Bharrat Jagdeo on Thursday announced that government has given the green-light to open negotiations with an American businessman to buy the Marriott Hotel for US$90 million. During the first round of bidding, Ramy El-Batrawi, founder of the investment group X, LLC , had bid for US$65 million but in the second round he upped that to US$90 million. ...

GROS ISLET, St Lucia, June 21 (DW).- The Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat, Simon Stiell has been touting the long-term environmental and financial benefits of the Caribbean fast-tracking its shift from from oil and gas to solar and wind as energy sources. “The Caribbean is, to a large extent, still dependent on ...

GROS ISLET, St Lucia, June 21 (DW).- President of the Caribbean Development Bank Dr Hyginus ‘Gene’ Leon on Wednesday said the international community should provide increased climate finance as well as the private sector should play a major role in investment and finance in the region. “We must unlock private capital for the Region and mobilise private sector financing but ...

CASTRIES, ST Lucia, June 20 (DW).-Regional non-borrowing members of the Caribbean Development Bank (CDB) on Tuesday backed Barbados’ plan for rich countries to fork out billions of dollars in grants and cheap loans to poor nations like those in the Caribbean to help them grapple with the impacts of climate change. “The Bridgetown Initiative 2.0 could generate sufficient momentum and ...

CASTRIES, St Lucia, Jul 20 (DW).- The President of the Caribbean Development Bank (CDB), Dr. Hyginus “Gene” Leon on Tuesday said the regional financial institution was implementing a “trilogy” to deliver concessional financing to Borrowing Member Countries (BMCs), in what appears to be a major shift away from the conventional yardsticks of economic growth, and the total value of everything ...

GTT, Guyana’s First in Fibre and Largest Fibre Network in Guyana, announces 150,000 homes and businesses having access to its high-speed fibre service, after recently making the service available to more than 1,100 homes and 170 businesses in Tuschen on the West Coast of Demerara, Region Three. Technicians have worked assiduously to roll-out more than 3000 miles (about 4828.03 km) ...