Economy

As the Labour Department hopes to meet with the management of the Russian Aluminium (RUSAL)-controlled Bauxite Company of Guyana Incorporated (BCGI) and the Guyana Bauxite and General Workers’ Union (GB&GWU) in yet another move to reinstate 61  dismissed workers, government is considering whether to shut down the operations. Minister of Natural Resources, Raphael Trotman said “we are very disappointed and ...

South Africa and Guyana on Friday inked a wide-ranging declaration that could see this country benefitting in a range of areas. Signed by South Africa’s Deputy Minister of Mineral Resources, Godfrey Oliphant and Minister of Natural Resources, Raphael Trotman, the declaration provides for that southern African nation to assist Guyana with mapping among other areas. “At the invitation of the ...

The Guyana Manufacturing and Services Association (GMSA) on Thursday reiterated the need for cheaper electricity, a call that was backed up by the Inter-American Development Bank (IDB). President of GMSA, Shyam Nokta issued the call for a reduction in taxes on fuel at the formal opening of his organisation’s Annual General Meeting held at the Marriott Hotel. “Tax measures introduced ...

The Guyana Bauxite and General Workers’ Union (GB&GWU) on Wednesday reinforced its demand for a two-week old industrial dispute to be settled by  arbitration, even as aggrieved workers blocked the Berbice River where barges collect bauxite. GB&GWU General Secretary, Lincoln Lewis said he formally asked Senior Labour Minister, Amna Ally to activate compulsory arbitration whose findings and recommendations would be ...

The state-owned Guyana Gold Board (GGB) is further decentralising its operations by deploying roving representatives in mining communities, General Manager Eondrene Thompson announced Monday. The GGB’s main office is located in Georgetown and a satellite office in Bartica, in addition to agents who are licensed dealers. But Thompson said her entity wants to buy all of the precious yellow metal ...

The Georgetown Chamber of Commerce and Industry (GCCI) on Monday reported that its members have so far experienced a significant decline in business activity due to political uncertainty associated with the no-confidence motion. GCCI President, Deodat Indar told Demerara Waves Online News that a two-question questionnaire was administered online to its 240 members. However, Indar did not state how many ...

Guyana should ensure there are tight regulatory frameworks when dealing with Chinese investors to minimise the possible bribery of public officials, Research Professor of Latin American Studies at the US War College Strategic Studies Institute, Dr Evan Ellis stated recently. Delivering the 11th Vice Chancellor’s Renaissance Lecture on the topic “Transnational Organised Crime and Regional Security Dynamics in Guyana and ...

United States President, Donald Trump on Friday said his country recognizes Guyana’s systems of democracy and governance. “As your government and the people of Guyana assess the future direction of your country, know that the United States recognizes and honors Guyana’s respect for the principles and integrity of democratic governance and institutions,” Trump told President David Granger in a letter ...

Reproduced from Upstream by Josh Lewis Tullow Oil has contracted a drillship to spud an exploration well on the Jethro-Lobe prospect on the Orinduik Block, off Guyana. Block partner Eco (Atlantic) Oil & Gas confirmed Wednesday the joint venture had secured the drillship Stena Forth for the upcoming exploration well. Eco confirmed the contract secured the drillship for transport at ...

The Governor of the Bank of Guyana, Dr. Gobin Ganga, has assured that there is no shortage of foreign currency to transact international business such as wire transfers, but there are fewer United States (US) notes circulating at cambios and commercial banks partly because the increasing number of foreign workers are buying up the bills. “There is an increase in ...