Economy

In the wake of concerns about how a gold miner, who had been held with 30 pounds of raw gold, eventually got a dealer’s licence, an independent review of the nine licencees shows that none of them benefited from favouritism by the Guyana Gold Board (GGB). “We are satisfied that none of the applicants appear to have been given special ...

Guyanese politicians were Tuesday urged to stop promising jobs to youths and instead find real solutions such as financial support for job seekers and volunteerism to grapple with the unemployment crisis facing the country’s largest voting block. The calls were issued by several panelists at a round-table discussion on “youth unemployment” that was organised by the Ministry of the Presidency’s ...

Guyana’s Interception of Communications Act was Wednesday amended to pave the way for call centres to legally record calls with customers, Minister of Public Telecommunications Cathy Hughes told the National Assembly. In piloting amendments to the 2008 Act, Hughes said the law currently does not take into account advances in telecommunications technology. She explained that call centres are required to ...

Reproduced from Mining.com A bitter battle for control of Canada’s Guyana Goldfields (TSX: GUY) between the miner and dissenting shareholders led by founder and ousted chairman, Patrick Sheridan, has been finally settled this week, costing the company’s head his job. As part of the agreement, the Toronto-based miner is appointing two new independent directors to the board — Alan Pangbourne ...

Two men accused of attempting to smuggle 107.6 kilogrammes of cocaine in pepper sauce to another country were Monday remanded to prison. The Customs Anti-Narcotics Unit (CANU) said Chief Magistrate, Ann McLennan denied bail to the accused men. They are Ramaeo “Chan” Chandrabhan of 39 Ornoque Street, Georgetown, and Andrew Young of 2018 Section ‘C’ Diamond, East Bank Demerara. The ...

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said Thursday it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects to become a major ...

Guyana has asked the Islamic Development Bank (IsDB) to finance the training of local persons for the emerging oil and gas sector, even as top officials said foreigners would have to be employed if there are insufficient Guyanese to fill vacancies. “A reverse linkage programme in technical and vocational training with emphasis on addressing the critical needs of our emerging ...

Director of the Financial Intelligence Unit (FIU) of Guyana, Matthew Langevine says there are increasing suspicious reports of money launderers and drug traffickers piping their dirty monies through money transfer agencies. The FIU head said it has also been discovered that individuals involved in predicate offences tied to drug and human trafficking and money laundering are utilising the services of ...

The Food and Agriculture Organisation (FAO) does not believe that Guyana’s emerging oil and gas sector will pose a risk to the country’s valuable agricultural sector once systems are put in place to ensure the two sectors co-exist. The FAO’s Assistant Director-General for Latin America and the Caribbean, Dr. Julio Berdegué told a news briefing in Guyana that climate change ...

Reproduced from ProActive Investors Eco (Atlantic) Oil & Gas Ltd has raised US$17 milion of new funds to cover its participation in a possible expansion to the exploration drilling campaign offshore Guyana. It is selling 16.1 million shares to new and existing investors at a price of 80 pence per share, only a small discount to Wednesday’s closing price of ...