Business

Internationally renowned Professor of Economics, Jeffrey Sachs has decided to back out of the Guyana Energy Conference, shortly after he was billed as a keynote speaker at the four-day event that opens on Tuesday. “Jeffrey has decided to no longer attend,” Conference spokesman, Alex Graham told a news briefing. “As far as we know, he had committed and later on ...

The deadline for government to signal its intention to pursue an out of court resolution with Cane View/Mocha residents will expire in a few days. The residents, whose homes were demolished, and all their personal belongings destroyed by the government in  January, have retained lawyers. On February 8, 2023, International Lawyer Dr. Vivian Williams, and Guyana-based Attorney Lyndon Amsterdam served ...

The fire that ravaged the Parika Market last Friday was due to poor safety measures during welding at a steel frame for the new market, the Guyana Fire Service  (GFS) said on Sunday. “While the GFS regrets the loss of the market, if the correct safety measures were followed, this tragedy could have been avoided,” that emergency response agency said ...

Opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian Ganesh Mahipaul on Friday said his then governing coalition and ExxonMobil never agreed that the US$160 million that would be spent on building a new headquarters building at Ogle, East Coast Demerara would be recovered from oil revenues. “I’m guided that there were discussions and there was no agreement with ...

President Irfaan Ali on Friday sought to justify the People’s Progressive Party Civic (PPPC)-led administration’s decision not to scrap or renegotiate the Production Sharing Agreement (PSA) between government and the ExxonMobil-owned Esso Exploration and Production Guyana Limited (EEPGL). While in opposition, the PPPC had criticised the PSA that had been inked by the A Partnership for National Unity+Alliance For Change ...

Fire was Friday afternoon destroying stalls at Parika Market near the stelling, according to eyewitnesses. The many wooden stalls were being engulfed by flames. The cause of the fire was not immediately known. Stallholders usually sell fruits, vegetables, electronic items, clothing and other items. The Guyana Telephone and Telegraph and the Guyana Post Office Corporation are located nearby the market.

Even as the National Assembly awaits replies from Natural Minister Vickram Bharrat to an opposition coalition question in the National Assembly about who would be paying for ExxonMobil’s just under US$160 million new headquarters at Ogle and how spending on the project is being monitored, a top company official on Thursday said both major political parties were aware of the ...

ExxonMobil is awaiting the outcome of a review of the multi-million United States (US) dollar gas-to-energy project before making its Final Investment Decision (FID), though preliminary works have started along the route of the pipeline in the West Bank Demerara, a senior official said Thursday. “We are in review process with the Ministry of Natural Resources currently on the Field ...

The Guyana Police Force said its Special Organised Crime Unit (SOCU), on Wednesday laid 268 charges of Money Laundering and conspiracy to launder over $4.1B against a Herstelling, East Bank Demerara family after close to three years of investigation. Charged are Kenneth Kellawan Ramnarine, a taxi driver, Damian Brandon Ramnarine, a salesman and Yevette Nalini Saroop, a businesswoman, all of ...

The United States-headquartered oil well drilling support company, Schlumberger (SLB), has applied for a fresh permit to store radioactive material in pits near the Demerara River, but representatives of the company on Tuesday ran into a firestorm of criticism at a public consultation. Schlumberger’s Legal Counsel, Kyle Prescod told reporters after the consultation that after the application to the Environmental ...