Commodities

Governor of the Bank of Guyana, Dr Gobind Ganga on Tuesday virtually ruled out allowing the routine opening of US dollar accounts at commercial banks here by anyone, saying that could put the country’s foreign reserves at risk. Told that the Jamaica Central Bank on Monday hailed the fact that people there were being allowed to freely open foreign exchange ...

Amid opposition claims that the People’s Progressive Party Civic administration was using the GY$100,000 cash grant as a means of capturing vital information to rig next year’s general elections, government said steps were being taken to ensure that there is no fraud. “As part of efforts to ensure a robust and transparent process that upholds the integrity of the $100,000 ...

President Irfaan Ali has instructed Agriculture Minister Zulfikar Mustapha to meet with representatives of the Guyana Sugar Corporation (GuySuCo), the workers’ union and other stakeholders to ascertain the cause of the worst sugar production output in history, despite the government pumping billions of dollars in the virtually paralysed industry. Mr Jagdeo indicated that he had learnt that GuySuCo’s position was ...

Even as the state-owned Guyana Sugar Corporation (GuySuCo) on Monday continued its one-week long silence on its unprecedented dismal sugar output, the opposition assailed the government for pumping billions of dollars into the ailing loss-making industry and called for a new Commission of Inquiry aimed at finding a solution. The corporation’s Chief Executive Officer, Paul Cheong, who is an executive ...

-BritCham Guyana to be launched at Lord's cricket ground

ExxonMobil Guyana hopes that the floating production, storage and offloading (FPSO) vessel can produce more than the current output of 252,000 barrels per day, company President Alistair Routledge said Tuesday. He says ExxonMobil, the operator in the Stabroek Block will seize the opportunity of installing gas risers for the gas-to-shore energy pipeline to make some adjustments to that FPSO. “Part ...

Guyanese farmers are set to benefit from specialised technical assistance under a $5.3 million Caribbean Agricultural Productivity Improvement Activity (CAPA) project being funded by the United States Agency for International Development (USAID), a senior aid official announced Wednesday night. “In Guyana, the programme is currently in the design phase,” Regional Representative of USAID in the Eastern and Southern Caribbean, Mr. ...

President Irfaan Ali on Wednesday announced that Guyana and Barbados were working to end difficulties in the movement of cargo from Trinidad to this South American nation. Addressing the commissioning of a US$8 million mixing plant of the National Milling Company (NAMILCO), a subsidiary of the American company, SEABOARD, the Guyanese leader said steps were being taken to maximise the ...

The Caribbean Private Sector Organisation (CPSO) has almost immediately taken up a call by Caribbean Community (CARICOM) governments to solve transportation woes by finding a blend between public sector incentives and private sector investments with financing by the African Export-Import Bank (AFREXIMBANK), CPSO Chief Executive Officer Dr Patrick Antoine said Tuesday. He said CPSO representatives on Tuesday held talks with ...

The Guyana Manufacturing and Services Association Limited (GMSA) on Monday rejected calls by a Belizean producer of Plantation white, or mill white, sugar to impose a Caribbean-wide 40 percent tax on extra-regionally refined sugar, saying that Plantation white sugar will result in poor quality products and in some cases injury to consumers. “If manufacturers were to use plantation white instead ...