Business

Caribbean Airlines has recorded an operating loss of US$109.2 million on revenue of US$118.6 million, based on unaudited financial results for the year to the end of December 2020. The previous year saw a positive (Earnings Before Interest &Taxes) EBIT of US$11.2 million on revenue of US$440 million for the …

Black-owned business Cevons Waste Management has now become the new target of the Jagdeo/Ali led PPP Government of Guyana war on afro-Guyanese. After months of layoffs and weeks of evictions of hundreds of predominately Afro-Guyanese jobs and lands, Chief Executive Officer, Morse Archer received a letter from Attorney-General and Minister …

The Jagdeo/Ali regime has selected the Hess Corporation to market crude shipments of Guyana’s offshore oil production. The New York-based Hess expects 2021 exploration and production capital and exploration expenditure to be $1.9 billion, indicating an increase from the 2020 reported figure of $1.8 billion. Of the total amount, more …

Three Kenyan individuals are being charged with contravention of medical statutes for exporting fake HIV test kits to Guyana through Jomo Kenyatta International Airport in Kenya. All three individuals were granted bail after an appearance before a Nairobi court, the accused are Erick Mwangi, Jones Olouch, and Robert Njoya who …

On Friday, October 2, 2020, the Vice President announced that the telecommunications sector would see a drastic change and provide more space for competition. The Telecommunications Bill was passed in 2016 under the APNU/AFC administration, and after decades under a virtual monopoly, the Guyana Telephone and Telegraph (GT&T) will be …

The High Commissioner of Canada, Lilian Chatterjee finally met with Guyana’s foreign minister Hugh Todd, to discuss Canada’s commitment to Guyana. After the election where Chatterjee was an active voice towards democracy, requesting that the former president Brigadier David Granger accept defeat, the commissioner finally communicated with the current administration …

The state-owned Oil Company plans to bring significant ease to its valued customers. This reduction will come into effect on October 1, 2020. Please see the company press release below.

Paths to economic development might vary, ranging all the way from ruthless dictatorships hewing their way with an iron fist to established democracies laboring towards the well-being of its constituents. In terms of swift decision-making and efficiency, 20th century empirical data would rather tilt towards dictatorships with South Korea and Singapore …

China’s Zijin Mining has emerged as the unnamed multinational that trumped Silvercorp Metals’ (TSX, NYSE: SVM) bid for Guyana Goldfields (TSX: GUY), with a deal that values the target miner at C$323 million ($238m). The Fujian-based mining giant has offered Guyana C$1.85 in cash for each common share, which is 35% higher than …

Exxon has reduced its crude oil production at the Liza offshore field in Guyana due to the risk of excessive flaring, according to the South American country’s regulator, as quoted by Reuters. Gas flaring has been a problem at the Liza field, prompting an environmentalist group to call on the supermajor in May to …