Category Archives: Business

IMF: New instrument to help build economic and climate change resilience

sherrylynclarke@nationnews.com. — Barbados

IMF’s, Kristalina Georgieva and Prime Minister Mia Mottley. (GP)

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on Tuesday June 21 said the establishment of a new instrument, the Resilience and Sustainability Trust, will help countries build economic and climate change resilience.

Speaking at the Grantley Adams International Airport minutes after her team arrived for talks with Barbados Prime Minister Mia Mottley and her team, Georgieva said this was something for which the latter had advocated.        Continue reading

GUYANA: Sod turned for US$300M Vreed-en-Hoop shore base facility (VEHSI)

Kaieteur News – On Tuesday June 21, 2022, the sod was turned for the US$300 million Vreed-en-Hoop Shorebase Inc. (VEHSI) which will sit on 400 hectares of coastal land.

The businessmen of NRG Holdings Inc., Azruddin Mohammed (first left); Andron Alphonso (third left), and Nicholas Deygoo-Boyer (first right) and other officials after the sod was turned

The VEHSI is being constructed by NRG Holdings Incorporated, a 100-percent Guyanese-owned consortium along with Hadi’s World Incorporated, National Hardware Limited and ZRN Investments Incorporated are the Guyanese investors involved in the project. They have partnered with Jan de Nul Group, a Belgian engineering and construction firm which offers marine services, offshore service, civil engineering, environmental management activities and project development.        Continue reading

GUYANA: Jagdeo’s Bribery for Investment Scandal – “Guyana For Sale” – VICE News video +News Reports

VICE NEWS VIDEO – Released June 19, 2022 — “GUYANA FOR SALE”
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Jagdeo takes aim at Su in alleged bribery-for-investment scandal; to evict him from house

Demerara Waves: By Denis Chabrol — Sunday, 19 June 2022

Su Zhi Rong

Vice President Bharrat Jagdeo on Sunday fended off fresh claims that he takes bribes from Chinese investors and said he would possibly take legal action against Guyana-based Chinese businessman, Su Zhi Rong for sullying his name and engaging in extortion.

“Su denied having said this. Now, I have seen the release that he has actually said this so now I’ll have to ensure that I take some steps in regard to dealing with that because he has used his friendship to basically leverage it and in so doing destroying my reputation and extorting investors,” Mr. Jagdeo told Demerara Waves Online News/News-Talk Radio Guyana 103.1 FM.            Continue reading

GUYANA: MV Ma Lisha – New North West vessel ‘fit for purpose’– Government

 NewsROOM Guyana- 

The government on Monday defended the new US$12.7 million vessel, which will ply the route from Georgetown to the North West District in Region One (Barima-Waini), noting that the vessel was designed and built with specifications to operate in the conditions it is intended to.

“This is a boat that is being built from scratch, designed for the conditions that it has to operate in with specifications to meet the needs of the people in Region One,” Minister of Public Works, Bishop Juan Edghill said during a media briefing on Monday where he unveiled the model of the ship.        Continue reading

GUYANA: Refugees and other immigrants in Guyana – By Lear Matthews

Perspectives-  Refugees to Guyana in an era of unprecedented socio-economic change

Lear Matthews

By Lear Matthews

Some concerns may be emerging in Guyana as a result of the stream of refugees from Venezuela and the related uptick in the “Squatting situation”. This is compounded by the entry of immigrants from other countries, many under government contract or Unclassified Entrants. In light of anticipated changes that will emerge in the dawning of the gas and oil industry, issues of adjustment, accommodation and populations shifts caused by these new entrants must be seriously considered.

There have been grumblings among Guyanese about the increasing number of immigrant families “admitted” into the country, whom locals uncannily refer to as “the silent invaders”. A report by the Chairperson of Region One confirmed that about 40,000 Venezuelans were in the country in 2019. As a result of these entries, immigrant settlements have been established along border communities such as Mabaruma and Kumaka, notwithstanding the noticeable increase of various transnational groups throughout the nation.        Continue reading

GUYANA pushes for architectural transformation with upcoming International Building Expo — July 22-24, 2022

GUYANA INTERNATIONAL BUILDING EXPO — July 22-24, 2022

Website: https://buildingexpo.gy/

Guyana is expecting more than 150 international and local companies to participate in the International Building Expo, set to take place July 22-24 at the National Stadium, Providence, East Bank Demerara.

The expo will create an opportunity for local, regional, and international investors to showcase innovative building and construction techniques, government said.

The country is experiencing a construction boom fueled by the offshore oil and gas operations which is creating higher demand for accommodation for tourists, investors, and industry expatriates. The government said it expects the construction sector to be propelled into a more innovative direction with this Expo.        Continue reading

GUYANA: Cabinet approves G$60,000 minimum wage for private sector employees – Pres. Ali

June 16, 2022 – https://newsroom.gy/

After two years of discussing an increase in the minimum wage of private sector employees from G$44,200 to G$60,000, President Dr Irfaan Ali on Thursday evening announced that it has been approved by the cabinet. This increase to G$60,00 is approximately US$300 per month at the exchange rate of 200-1.

“Cabinet has agreed with the recommendation of the tripartite committee and that is, we are in support of the minimum wage, that is, the $60,000…” President Ali said while addressing the 74th commemoration of the Enmore Martyrs.

The minimum wage was increased to G$44,200 in 2017 from G$35,000.              Continue reading

GUYANA: India delivers new US$12.7M North-West Guyana ferry

MV Ma Lisha launched

Jun 16, 2022  – Kaieteur News

Works on the new ocean-going passenger and cargo vessel which is set to benefit the people of Region One has been completed.

The vessel which is called MV Ma Lisha was being built in India to the tune of US$12.7 million by Gardens Reach Shipbuilders and Engineers Limited (GRSE) as part of the Government of India’s Line of Credit-cum-Grant project.

The newly built MV Ma Lisha, which will soon set sail for Guyana      Continue reading

CARIBBEAN: David Jessop | Rapid action needed on food security

   June 12, 2022 |  Jamaica Gleaner

Could the threat of global food shortages finally unite Caricom? Will it cause member states to act together, making real the Caricom Single Market & Economy’s promise of effective regional cooperation and economic security?

These are questions that should be on every Caribbean citizen’s mind, as food and energy prices skyrocket globally, with worse forecast to come.

The causes of what will likely become a lengthy and pervasive crisis are multiple. At the start of 2022 food prices were already high because of pandemic-related supply chain problems, increasing input costs, and lower yields due to climate change.          Continue reading

GUYANA: Recalibration Required between Central Government and Georgetown

Stabroek News

By Stabroek News Editorial – June 10, 2022     

The PPP has never reconciled itself to the fact that Georgetown, the capital city, is under the control of the PNC now APNU with the AFC in tow. It is not a reality which is going to change in a hurry; the demographics are what they are and this is a universe where ethnicity largely dictates voting patterns. The southern wards of George-town are the APNU heartland, and while far more Indians and members of other groups live in the city than ever used to be the case, they will not outnumber the African population for the foreseeable future.

Twenty-three years in office saw the PPP/C starving the capital of funds so the rubbish mounted up on street corners and one Minister of Local Government infamously declared that he would be happy if there was a health crisis as a consequence because it would supply a justification for removing the City Council. It was the most open acknowledgement from the ruling party of what they were trying to achieve in Georgetown. Miraculously, however, there was no health crisis, and so the central government continued to operate in what the citizenry regarded as punishment mode.            Continue reading

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