Business

The first World Trade Center (WTC) to be set up in the Caribbean Community (CARICOM) will be in Guyana. This follows the culmination of several months of negotiations between Demerara Distillers Limited (DDL) and the New York headquartered World Trade Center Association (WTCA). DDL said it recently secured a license to establish a World Trade Center in Guyana and will ...

The Trinidad and Tobago Manufacturers Association (TTMA) on Tuesday assailed the 15-nation Caribbean Community (CARICOM) for failing to remove non-tariff barriers on goods, especially food being produced in the region. TTMA’s Chief Executive Officer, Mahindra Ramdeen vented his frustration at the trade bloc’s failure to create a truly single space for regional goods because of “the political will or whatever ...

Minister of Natural Resources, Vickram Bharrat  on Tuesday said government has softened its enforcement of backfilling and reforestation of areas that have been already mined because of generally low recovery rates of the precious yellow metal. He said the current rate of recovery is about 30- to 35 percent which means that there is another 65 percent of gold that ...

President Irfaan Ali on Sunday announced that Barbados would be supplying 1,000 Black Belly Sheep to Guyana, as part of a plan to make Region Five (Mahaica-West Berbice) the Caribbean Community’s (CARICOM) livestock capital. In launching the Black Belly Sheep project at Onverwagt, he said “Region Five must be the livestock  capital of CARICOM.” Dr. Ali said  government would be ...

President Irfaan Ali on Sunday announced that major Canadian airline, West Jet, is sending a delegation to Guyana next week to examine the possibility of transporting large quantities of produce to North America. Addressing a large number of farmers at Onverwagt, West Coast Berbice to launch a Black Belly Sheep project, he said his delegation recently met with West Jet ...

The Director of the Ministry of Health’s Food and Drugs Department Dr. Marlan Cole was Friday officially stripped of his responsibilities and reassigned in what is being regarded as a demotion. “You are instructed to meet with the  Chief Medical Officer and the Director of Standards and Technical Services to discuss your scope of work, the specifics of your new ...

Vice President Bharrat Jagdeo on Friday defended his administration’s decision to shut out all of the opposition’s nominees to sit on the board of the Natural Resources Fund and indicated there was hardly any room for compromise with the opposition in approving spending. The Vice President sought to justify government’s selection of former People’s National Congress Reform (PNCR) parliamentarian Dunstan ...

The Guyana Telephone and Telegraph (GTT) said it has teamed up with the Guyana government to support this year’s hackathon styled the 2022 “Innovation Challenge” whose aim is to find technology solutions to some of the country’s problems.  The telecommunications company said it has partnered with the Office of the Prime Minister’s  Industry and Innovation Unit for the launch of ...

The Guyana government is on the verge of licensing a new merchant bank that will target the rapidly emerging large business sector, officials said. Vice President Bharrat Jagdeo first announced the formation of the financial institution at a meeting with residents of Region Two (Pomeroon-Supenaam). “We just licensed a merchant bank- a Guyanese guy who got it, the licence- and ...

Vice President Bharrat Jagdeo on Tuesday flagged the fact that the Guyana dollar appeared to be strengthening against the United States (US) dollar in recent months. Addressing a meeting in Region Two (Pomeroon-Supenaam), he said the shift from USD$1.00 = GY$215.00 to US$1.00= US$200.00 could cause economic problems. “Just the exchange rate appreciating moving from $215  to US$1.00 can cause ...