Category Archives: Business

Presidents of Guyana and Suriname recommit to continued development – DPI Guyana

President of the Cooperative Republic of Guyana, His Excellency, Mohamed Irfaan Ali, and President of Suriname, His Excellency, Chandrikapersad Santokhi

President Ali of Guyana with President Santokhi of Suriname

Following bilateral talks on Sunday, President of the Cooperative Republic of Guyana, His Excellency, Mohamed Irfaan Ali, and President of Suriname, His Excellency Chandrikapersad Santokhi, pledged their commitment to ensuring continued development between the two states.

During a media briefing, President Ali indicated that the engagement between the two Heads of State was extensive, covering multiple sectors and was aimed at strengthening the existing relationship Guyana and Suriname share.  Continue reading

GUYANA: Oil Exploration: CGX selects two leads in Corentyne Block for drilling programme

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Map showing the location of the Corentyne Block and its proximity to other discoveries

CGX Energy Inc., by way of its unaudited consolidated financial statements for the second quarter of 2020, disclosed that it has identified two key drilling leads in the Corentyne Block for its next drilling programme. In explaining the work that went into the selection of these two prospects, the company said that it had contracted PGS Geophysical AS (“PGS”) to provide acquisition and processing of a full broadband marine 3D seismic survey over a northern segment of the block.
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OIL: Seventeen Guyanese in the Diaspora demand comprehensive review of oil sector


– Resolve discrepancies in pre-contract costs
– Probe cost anomalies between Liza 1 & 2
– Review taxes paid by Guyana for oil companies
– Review unspecified interest rates on oil companies’ loans
– Improve weak environmental standards
– Regulate amount of oil being produced

Experts say that Exxon’s operations in the Stabroek Block will result in losses of billions for Guyana, due to a poor contract (Image: ExxonMobil)

A group of 17 civil society professionals in the diaspora are calling on President Irfaan Ali to undertake a comprehensive review of the oil sector before it approves the Payara Field Development Plan (FDP) permitting ExxonMobil to produce oil in a third well.      Continue reading

DISASTERS: Beirut explosion: satellite images before and after the blast – The Guardian UK

Lebanon — Beirut Explosion

Beirut explosion: satellite images before and after the blast

Explosion that hit the seaport of Beirut, Lebanon. Photograph: Hussein Malla/AP

Satellite images show the scale of the damage caused by Tuesday’s (August 4, 2020) explosions in the Lebanese capital, with buildings miles from the port lying in ruin. The blast comes at a terrible time for Lebanon, which is on the brink of financial collapse.


POLITICS: Challenges facing the new Government of Guyana – By Sir Ronald Sanders 

 By Sir Ronald Sanders 

The one upside of the challenges facing the Government of Guyana after a 5-month impasse in declaring the result of general elections on March 2, is that the country’s economic growth in 2020 is projected at a whopping 52.8% – surpassing all 26 Latin American and Caribbean states.  This trend is likely to continue for many years to come.

Guyana has become a hotbed for new oil and gas production. Since 2015, there have been 19 oil discoveries, resulting in estimated recoverable petroleum resources of more than 8 billion barrels.  Between December 2019 and June 2020, this newly found wealth in oil and gas provided the government US$95M in royalties paid by ExxonMobil from its first two oil sales.      Continue reading

USA: HOUSING: How bad will the wave of evictions be? 

— Over 20 million US households face eviction (David Plotz)

Mitch McConnell and Trump seem to have capitulated on extending the $600 unemployment benefit, which implies that Republicans will also accept a renewal of the federal eviction moratorium. That moratorium, which expired July 24, protected the one-third of renters whose landlords have federally-backed loans from being evicted during the pandemic. 

That’s a huge relief for millions of households, but colossal numbers of renters whacked by the pandemic and job losses are still facing imminent eviction. The question is: Will there be an eviction wave and a surge in homelessness?      Continue reading

BUSINESS: GOLD: After Covid-19; just how high will prices go in the 2020 gold rush?

The precious metal has passed $2,000 an ounce and analysts believe it will rise a lot further

Rupert Neate Wealth correspondent –Thu 6 Aug 2020 15.27 BST – The Guardian

 In the five trading days to 3 August the total volume of gold traded was 251m ounces, worth £133bn. 

The price of gold soared to a record $2,047 (£1,538) on Wednesday as investors panicked by fears of a second wave of the coronavirus pandemic rushed to buy the yellow metal as a safer place to store their wealth.

The gold price has risen by 34% since the start of the year, and this week broke through the $2,000 an ounce barrier and kept rising, as investors worry about Covid-19, as well as rising geopolitical tensions and the weakening of the US dollar.      Continue reading

Back to the Future: Americans should stop harking back to the 1950s

Lexington  – Mid-century modern

Americans should stop harking back to the 1950s. Many of the decade’s delights are still available

United States August 1st 2020 – Te Economist

Bengies, a drive-in outside Baltimore, does not allow alcohol, profanity, car-horns or headlights—which seemed reasonable. It also bans barefoot children (even when carried), photography, vehicles left unoccupied without an explanatory note, and refunds or ticket changes of any kind, which seemed a bit over the top. “This is not an exclusive list of our rules, but it’s a pretty good start,” said Mr Vogel, as the sky darkened over the 120-foot-long movie screen. He still hadn’t got through his covid-19 stipulations.      Continue reading

TRAVEL: BARBADOS: First interCaribbean flight lands – new COVID-19 testing rules outlined

Barbados: Inaugural interCaribbean flight 715- August 4. 2020

First interCaribbean flight lands
Nation News. Barbados  – 04 August 2020

The inaugural interCaribbean flight 715 touched down at Grantley Adams International Airport on Tuesday, minus the usual fanfare associated with such an event.

Regional customer service specialist of interCaribean Gilles Bussutil said Barbados would be the southern hub for the 29-year-old airline, which also operates flights to St Lucia, Dominica and Grenada.        Continue reading


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On August 4th, 2018, we had a grand opening of “The Buxton / Friendship Museum Archives and Culture Center” located at Lot 35 Buxton Middle Street (Lower Level) Buxton Village, East Coast, Demerara, Guyana.

With the declared Emancipation of slavery in 1838, the Village Movement was spreading. The pioneers, both male and female, were still able to save enough money to buy Plantation Orange Nassau later renamed Buxton. Friendship Village was later purchased and the combined area became Buxton /Friendship. The purchase of Buxton / Friendship and other villages set the stage for the formation of the Cooperative movement in Guyana.          Continue reading

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