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The Bank of Guyana today announced that it has revoked the license of Confidential Cambio of Lombard Street, Georgetown, which was operated by the Mohamed family. In a public notice, the Central Bank stated that with the revocation, the entity is no longer authorized to conduct the business of buying and selling foreign currency. The […]
The US Treasury Department’s Office of Foreign Assets Control (OFAC) today announced the sanctioning of billionaire Guyanese businessman Nazar Mohamed, his son, Azruddin Mohamed (Azruddin), their company, Mohamed’s Enterprise, and Labour Ministry Permanent Secretary and PPP Central Committee member, Mae Thomas. In a statement, the US Treasury Department said the Mohameds and Thomas have been […]
Opposition Leader, Aubrey Norton has called for the establishment of an Inter-agency Task Force in order to save the country’s gold-mining industry, which appears to be on the decline. During a press conference today, Mr. Norton said the rapid decline in the country’s gold production and declaration could be attributed to “Government incompetence”, however, he […]
The Central Housing and Planning Authority intends to shift its focus towards sustainable housing with increase attention on home ownership for the ordinary Guyanese, Minister of Housing and Water, Collin Croal, has announced. Speaking at the launching of the 2024 International Building Expo at the Ramada Hotel last evening, Minister Croal said initiatives like the […]
Amid a shortage of foreign currency in the country, the Bank of Guyana has been forced to inject more than US$80M into the foreign currency market, on instructions of the Government. At a press conference on Thursday, Vice President, Bharrat Jagdeo said he met with the members of the local Banking Sector along with the […]
With Guyana’s gold declarations, especially from small and medium scale miners, on the decline, Vice President Bharrat Jagdeo today warned miners who are refusing to sell their gold to the Guyana Gold Board in keeping with regulations, that the Government will be going after them. At a press conference, Mr. Jagdeo said the Government remains […]
By Svetlana Marshall ExxonMobil Guyana raked in more than $1.1 trillion in revenue in 2023, according to its just released Annual Report. The oil giant, according to the report, generated $752.7 Billion in profit before tax, with its total operating expenditures accounting for approximately $356.1 Billion. The company recorded $614.599 Billion in profit. The […]
By Svetlana Marshall The City Council today approved a $3.297 Billion Budget for the City for 2024. The approval of the city’s budget came hours after it was presented to the 30-member Council by Chairman of the Finance Committee, Councillor Lelon Saul, under the theme “Building a green, resilient, safe and sustainable city.” Councillor Saul […]
The Digicel Group has announced the activation of its subsea fibre cable, Deep Blue One, which the company has described as an advanced network with international submarine capacity that will supercharge connectivity across the Caribbean and South America. Guyana, French Guiana, Suriname and Trinidad and Tobago are to be the big beneficiaries of the new […]
The Guyana Energy Agency has indicated that it intends to appeal a Magistrate’s decision to dismiss the charge of importing petroleum without an import wholesale license that it had filed against businessman Dorwain Bess. Two weeks ago, Magistrate Sunil Scarce, upheld a no-case submission by the Attorneys for Mr. Bess, dismissing the illegal fuel importation […]
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