Economy

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 ...

Guyana is to receive a US$20 million World Bank loan for its Petroleum Resources Governance and Management Project to prepare the country to deal with several oil and gas risks. The loan was approved on Friday, March 29. “This Project will enhance the transparency, governance, legal, regulatory and institutional frameworks for the oil and gas sector in Guyana,” the Finance ...

Guyana is among four sugar-producing Caribbean Community (CARICOM) member nations that will be the focus of a regional study on the prospects of substituting imported refined sugar with plantation white, the Caribbean Development Bank (CDB) said Tuesday. The Barbados-headquartered financial institution says it is collaborating with CARICOM to gather evidence to decide on the future of sugar in the regional ...

Guyana’s private sector and President David Granger on Wednesday disagreed over the impact of the unsettled no-confidence motion on the business environment. “I do not know how valid that perception is but, as far as I’m concerned, the government has done nothing to engender any disorder or any despair in the business community so I don’t want to say whether ...

The Guyana Telephone and Telegraph Company (GTT) has established an oil and gas unit that is serving oil companies in the secure transmission of data through its submarine fibre optic cable, the company’s Chief Executive Officer Justin Nedd said. “I can tell you we have an oil and gas unit that deals with the folks onshore,” he told a midday ...

The Georgetown Chamber of Commerce and Industry (GCCI) on Monday said Guyana was still gripped in political uncertainty over whether the Caribbean Court of Justice (CCJ) might rule that the no-confidence motion was validly passed and elections should have been held already. “What happens if the argument that the no-confidence motion was validly passed is upheld and you pass the ...

by Gwen Evelyn GEORGETOWN, Guyana – March 13, 2019 — Local ice cream pioneer, Sterling Products Ltd. (SPL) has opened a new outlet to make its premium Igloo Ice Cream available to customers near Stabroek Market Square in the heart of Georgetown. The new outlet launched on March 1 is conveniently located on the upper story of the KFC fast-food ...

by Gwen Evelyn GEORGETOWN, Guyana – March 19, 2019 — Not all problems have solutions, but thankfully some do. Think of this. You hurriedly prepare a meal and before you turn off the stove, you know it won’t make the grade. A vision of long faces around your dining table pops into your head. You have a problem—a big one. ...

Mining lands were distributed to over 100 applicants at the first in a series of lotteries held on Friday in Georgetown. But the recipients must by April 22 submit proof of identity through a Taxpayer Identification Number (TIN) certificate, address and other relevant documents or forfeit their opportunity, officials declared. The Ministry of Natural Resources said the lottery is “part ...

United States Ambassador to Guyana, Sarah-Ann Lynch Tuesday night cited the need for democracy and an independent civil society to sustain private sector growth and development. “Together with sound, democratic governance and an independent and active civil society, the private sector here has the opportunity to thrive and Guyana has the opportunity to become one of the wealthiest countries in ...