Business

IMF notes Guyana’s continuing growth, but encourages greater protections against Dutch disease

The International Monetary Fund (IMF) has noted that Guyana’s economic transformation is advancing strongly and broadening in scale, but is also encouraging greater protection against the “Dutch Disease”. “Dutch disease” is an economic term used for the negative consequences that can arise from a spike in the value of a nation’s currency, that is primarily associated […]

Fourth FPSO arrives in Guyana to join oil production

The ExxonMobil Guyana company today announced the arrival of the ONE GUYANA Floating, Production, Storage and Offloading (FPSO) vessel in Guyanese waters.  The vessel joins the Destiny, Unity and Prosperity FPSOs in the Stabroek Block offshore Guyana. In a statement, the company said ONE GUYANA FPSO will operate in the Yellowtail development, with an initial production […]

Jagdeo says Teleperformance blames “lateness and absenteeism” by local workers among reasons for location closure

Lateness and absenteeism are among the reasons given by Teleperformance for closing down one of its operations in Guyana,  Vice President, Bharrat Jagdeo has revealed. Teleperformance, which is one of the largest call centre companies in Guyana recently closed its Robb and Camp Street location in Georgetown. The company laid off more than 800 workers […]

Georgetown Chamber of Commerce elects first ever Woman President

The Caribbean’s oldest business chamber, the Georgetown Chamber of Commerce and Industry (GCCI) elected its first female President today after being in existence for 136 years. Managing Director of Dynotech Construction Chemicals and former Vice President of the Chamber, Kathy Smith, has been elected President of the GCCI. She replaces businessman, Kester Hutson, and will […]

PSC tells IMF “Unemployment in Guyana is largely voluntary”

During a recent engagement with a visiting team from the International Monetary Fund (IMF), the Private Sector Commission of Guyana drummed up the country’s economic growth and told the visiting team that unemployment in Guyana “is largely voluntary”. Guyana’s unemployment rate hovers around 12%, and with the growth of the economy and the oil and […]

Nazar Mohamed claims Govt. engaged in major transactions with family after US sanctions.

by Svetlana Marshall Billionaire businessman, Nazar Mohamed, continues to express his frustration over the impact of the US sanctions on him, his son and their businesses and the Guyana Government’s recent moves not to renew a number of the family’s business licenses. Mr. Mohamed told News Source on Wednesday that the same Government that has […]

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