Business

Guyana has received its first payment for carbon credits under the agreement with the Hess Corporation. US$75 million has been paid, and is the first payment in an agreement that will be worth a minimum of US$750 million up to 2030, government announced on Tuesday. Government said two further payments of US$37.5 million each will be made during 2023 – ...

Just over one week after resigning from the post of Treasurer of the People’s National Congress Reform (PNCR) due to concerns about financial accountability, Mr Faaiz Mursalene wants to pull back the resignation and continue as the man to oversee the coffers. Mr Mursalene said he is confident that PNCR Leader Aubrey Norton and a number of other Central Executive ...

General Secretary of the historically socialist People’s Progressive Party (PPP) and Vice President of Guyana, Bharrat Jagdeo has perhaps for the first time  publicly cited the need to grapple with the realities of “capitalism” as he fended off criticism of government’s position that workers must be free to take up the best paying jobs. Mr Jagdeo reflected on when the ...

Police on Saturday recovered four more guns that were stolen from RADAR Security Services, leaving five more yet to be found. The Guyana Police Force said that late Saturday afternoon, one of the suspects took detectives to a location in Albouystown, Georgetown where four more of the stolen guns were recovered. Investigators said three of the firearms are .32 calibre ...

President Irfaan Ali on Thursday defended the decision by government to smash the seven remaining houses on a government reserve at Cane View, Mocha, East Bank Demerara, saying that sufficient was done to negotiate with all of the more than 40 residents there. “If I attempt to be softer than I am soft on this Mocha issue, then I am ...

Guyanese are now expected to face less hassle while opening small bank accounts and withdrawing and depositing GY$500,000  or less, officials said on Thursday. Vice President Bharrat Jagdeo said “poor people”, with GY$500,000 or less could walk in “without all of these fancy forms (to) fill up.” He said account holders could also withdraw monies without informing the bank about ...

Persons travelling to Guyana directly or in-transit from China, Hong Kong and Macau must now present a negative COVID-19 test or proof of recovery from the viral disease,  Guyana’s COVID-19 Task Force announced on Thursday. Th new requirement takes effect from January 8, 2023. The Guyana government said that would also apply to persons traveling from the China via third ...

Guyana’s first artificial island being created in the Demerara River is out-of-bounds as more dredged material is being added to the still unstable area, the Vreed-en-Hoop Shore Base Inc (VESHI) said on Tuesday “The project managers have warned that the site remains an active construction zone and landing on the island is prohibited. The island structure, while visible, is not ...

President Irfaan Ali arrived in Brazil’s capital, Brasilia, aboard a flight chartered from the Surinamese airline, Fly Allways, even as the Guyana Defence Force (GDF) is making efforts to make a seized illegal plane operable. Dr Ali is in Brazil for Sunday afternoon’s inauguration of Luis Inacio ‘Lula’ Da Silva as President of that South American economic giant. Government said ...

Public Works Minister Juan Edghill on Saturday confirmed that a Dutch research vessel, FUGRO BRASILIS, was disabled and adrift off Guyana’s coast. He said a notice to mariners was issued early Saturday morning. Mr Edghill said the owner or the agent as not yet said when the vessel would be hauled into shore or fixed. Maritime Bulletin reports that FUGRO ...