Business

After a more than 20-year search for oil offshore Guyana, the Canadian oil exploration company, CGX Energy, has finally found crude in commercial quantities, the company confirmed Monday night’ Drilling was being done by the semi-submersible drilling rig Maersk Discoverer. The joint venture partners had projected last month that the cost of drilling had been projected to rise as much ...

Police  on Monday said the captain of the MV Malali Ferry was piloting the vessel under the influence of alcohol. The Guyana Police Force says that the Transport and Harbours Department asked for help to conduct a breathalyser test on the boat captain, Jermaine Blackman. At the time of the test, the MV Malali was en route to Leguan.  Police ...

A Guyanese man, who has had brushes with the law over the years, has been named as an investor in a start-up Surinamese airline, according to reports from that neighbouring South American nation. The company named Angel Airways, said it recently partnered with Guyanese businessman and Chief Executive Officer of Aaron Royalty, Jayson Aaron, giving him a 40 percent stake ...

Local Government  Minister Anand Persaud on Monday urged Georgetown Mayor Ubraj Narine to pull the trigger on improving the conditions of City, even as government put local government councils that they need to give value for money. “I’m calling on the Mayor to end his playing of politics at the Council in Georgetown,” he said, adding that over the years ...

Guyanese will soon have a $2,000 bill to spend, Governor of the Bank of Guyana Dr. Gobind Ganga confirmed on Friday. He said the new currency note would go into circulation in few weeks after all of the administrative procedures such as publication in the Official Gazette, alerting the public about the security features and presenting one of the notes ...

A New York man has been sentenced to 18 months in prison for his role in an illegal pump-and-dump stock manipulation scheme. Acting U.S. Attorney Charles J. Kovats made the announcement after Senior U.S. District Judge David S. Doty sentenced the defendant, the United States Department of Justice said Thursday night. According to court documents, Christopher James Rajkaran, 36, of ...

Guyanese who earn $75,000 per month or less will no longer have to pay income tax. Finance Minister Dr Ashni Singh made the announcement in his 2022 National Budget speech. “In this regard, we are proposing to increase the monthly income tax threshold from $65,000 to $75,000 monthly, thereby releasing a total of $1.3 billion into the hands of current ...

President Irfaan Ali on Tuesday , one day ahead of the 2022 National Budget presentation, announced that government  has set aside money to cushion the impact of  rising cost of living but indicated that it would not be unconditional cash grants. “A specific sizeable allocation will be made to address the issue of cost of living,” he said, adding that ...

A cargo ship carrying three shipping containers laden with US$5 million worth of ammunition is not registered in Guyana and is not due here, the Maritime Administration (MARAD) said Thursday night. “The vessel in question is not contained in the local ships’ registry and it is believed that registration documents were issued by International Maritime Safety Agency of Guyana (IMSAG), ...

A quantity of marijuana was Wednesday found aboard a Panama-registered cement carrier cargo vessel, and so far the captain and other officers have been detained for investigations, the Customs Anti-Narcotics Unit said. CANU said that several parcels of  marijuana – a foreign type known as ” creepy “- with a total weight of 16.046 kilogrammes (36 pounds), with a local ...