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Local conglomerate, Banks DIH Limited, has recorded after tax profits of $8.9 Billon, representing an increase in profits by 6.8%. Before taxes were deducted, the company’s profit stood at $14.5 Billion. Shareholders of the company will gather this coming Saturday for the Annual General Meeting. In his report, Banks DIH Chairman and Managing Director, Clifford […]
The Government has come in for praise from the commercial sector with the Private Sector Commission (PSC) and the Guyana Manufacturing and Services Association (GMSA) stating that the $1.146 trillion Budget is an indication of the Government’s commitment to fostering economic growth and development. The PSC, in a statement, said the key highlights of the […]
Guyana’s economy continues to grow at an extremely fast rate, the International Monetary Fund (IMF) has said. In its latest report, the IMF said the country’s economy has tripled in size since the start of oil extraction. With oil production ramping up offshore, Guyana saw the highest real GDP growth in the world last year, […]
Suriname’s national airline, Surinam Airways has announced that it will begin schedule flights between Guyana and Barbados from the 20th December. In a statement, Surinam Airways announced that as part of an expansion plan, it will be rolling out a number of new destinations and additional routes. The Georgetown-Barbados service will operate twice per week, […]
By Svetlana Marshall The Managing Director of the London-based, Caribbean Council, Chris Bennet believes “immense” progress has been made in reducing barriers to trade between Guyana and the United Kingdom (UK). The Caribbean Council has been working to build trade and investment between international companies and their Caribbean partners. “I think that there has been […]
The Guyana Manufacturing and Services Association (GMSA) intends to push for more development and support in the manufacturing sector when it hosts “Impak Manufacturers’ Summit” in March 2024. GMSA President, Ramsay Ali said the summit will address rapid developments in the Manufacturing and Services Industries as Guyana moves to address its energy deficiency with the […]
Vendors who operate on the pavement outside the Muneshwers Store on Water Street will likely have to pack up and remove from the area by the 15th January 2024. The Georgetown City Council was recently ordered by the Court to remove all encumbrances from outside the store. City Mayor Alfred Mentore met with the affected […]
The ExxonMobil company announced this morning that it has started production at Payara, which is Guyana’s third offshore oil development on the Stabroek Block. With production beginning at Payara, total production will now increase to 620,000 barrels of oil per day. Exxon announced that The Prosperity floating, production, storage and offloading (FPSO) vessel is expected […]
The Private Sector Commission (PSC) is heaping praise on President Irfaan Ali and his Government for adjusting the salary scale for graduate teachers and offering the one-off $25,000 bonus to public servants and pensioners. In a Statement, the PSC said the increase in disposable income is seen as a positive development for the economy, and […]
The Guyana Public Service sees the $25,000 bonus for public servants to assist with the cost of living as insensitive and an insult. In a release, the GPSU said the announcement by the President was arbitrary and insensitive in light of the astronomical increases in the cost of living. During his address, Preaident Ali also […]
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