Business

As the sod was turned to construct a €$149million (more than US$150 million) paediatric and maternal hospital, the Guyana government on Sunday announced that contractors would have to abide by new internationally recognised contract terms that would see them bearing the bulk of the responsibilities for the design and build infrastructure model. The hospital, which would be built on 10 ...

Guyana on Wednesday appeared to have made a major shift in its international financing relations with the inking of a US$2 billion deal with the United States’ Export-Import (EXIM) Bank for government projects and hailing the importance of Washington to the South American nation’s development. “In this development phase of our country we want to see greater US participation not ...

ExxonMobil has made two new discoveries offshore Guyana to the southeast of the Liza and Payara developments in the Stabroek block. The discoveries at Seabob and Kiru-Kiru are the sixth and seventh in Guyana this year, with the total number of discoveries in Guyana at more than 25. The Seabob-1 well encountered approximately 131 feet (40 meters) of high-quality hydrocarbon-bearing ...

ExxonMobil on Tuesday said it has replaced a troublesome flash gas compressor aboard the oil production vessel, Liza Destiny, that has cost the company more than USD$10 million in fines for excess flaring, and said the old one is being overhauled to the latest standards for standby use. Vice President of ExxonMobil Guyana , Mike Ryan said the new flash ...

President Irfaan Ali and Vice President Bharrat Jagdeo left Guyana for the United States (US) to meet with American Secretary of State, Anthony Blinken and other top elected leaders and decision-makers, the Office of the President here said. “At the invitation of the US Government, the delegation will meet with high-ranking US Government officials, including the Secretary of State and ...

President Irfaan Ali on Friday night announced free ‘steel and cement’ packages as well as no down-payment and reduced interest rates to persons who would like to build their own homes. He told the opening of the 2022 International Building Expo that persons who would like to construct a house for GY$6 million and lower, the government “will support home ...

A new merchant bank was Thursday night formally launched with the aim of injecting start-up capital into business ventures that have the potential to expand,  grow and transform as well as search for soft loans for government, officials said. “None of that can happen without the much-needed finance and it is that gap that we sought to fill; that is ...

President Irfaan Ali on Wednesday floated the idea of convincing the private sector to explore the leasing of aircraft to transport persons to and fr0m the United States (US) and Canada because existing carriers are charging exorbitant airfares. “There are a number of opportunities now; a number of wet leases available… Why we don’t put our heads together- private sector- ...

President Irfaan Ali on Monday said the relevant authorities should investigate claims by Chinese individuals in Guyana that they are involved in a money laundering scheme called “flying money” as reported by the United States-based Vice News. He said the news documentary clearly contained confessions by a number of persons that they could move large amounts of cash through the ...

Opposition Leader Aubrey Norton has urged supporters to be cautious about protest marches whose aim is to spark off attacks on Indo-Guyanese, in the wake of last month’s assault and robbing of vendors at the Mon Repos Market, East Coast Demerara by a group of persons who marched from Golden Grove to protest the police killing of a resident. Addressing ...