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Former CL Financial chairman tells Commission:I DID NOTHING WRONG

Former executive chairman of insurance giant CL Financial, Lawrence Duprey, has said that as far as he was concerned, he has done nothing wrong.

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Overseas remittances to Suriname down

euros-300x178PARAMARIBO–Overseas remittances to Suriname are decreasing, while in contrast, transfers out of the country are on the rise, a financial rapport on the country has revealed.

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High fuel prices affect intra-regional travel and cruise passenger arrivals in Caribbean

St_Kitts_Frigate_BayBASSETERRE, St. Kitts, 12th October 2012– Sustained high fuel prices continue to create havoc in the airline and cruise ship industry and are affecting intra-regional travel and cruise passengers to the region. So says outgoing Chairman of the Caribbean Tourism Organisation (CTO), Sen. Richard “Ricky” Skerritt.

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TRINIDAD - US$295 million Green Island land deal crashed CL Financial says Permell

Chairman of the CLICO policyholders group, Peter Permell, Permell wants Attorney General Anand Ramlogan to conduct a forensic investigation into the US$295 million purchase of property in Florida, USA, known as the Green Island Transaction, which he says caused the failure of CL Financial.

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ANTIGUA - British Diplomat cautious about economic citizenship

St. John’s Antigua- Britain is warning that a poorly managed economic citizenship programme could result in visa requirements for people travelling with Antigua & Barbuda passports.

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Kamla says T&T removed from FATF blacklist

AFTER being on the "brink" of being blacklisted by intergovernmental body the Financial Action Task Force (FATF), Trinidad and Tobago has now been removed from the dark- grey list and will no longer be directly monitored by the organisation, Prime Minister Kamla Persad-Bissessar has announced.

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IDB launches credit facility for Caribbean

Luis_Alberto_Moreno5WASHINGTON, Oct. 7 – The Inter-American Development Bank (IDB) has launched two new contingent credit facilities for Latin America and the Caribbean to help countries deal beforehand with shocks caused by external financial crises and to help nations cope with the aftermath of natural disasters.

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JAMAICA - Travellers warned against transporting pests

The Jamaican government has urged travelers to pay closer attention to what they put into their luggage, as they could be importing or exporting a pest.

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BARBADOS - No foreign investor favouritism says Sinckler:

Government is not favouring foreign investors by offering them special incentives not available to Barbadians.

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CARICOM to challenge US tax act?

CARICOM HAS set up a taskforce to develop a plan for regional compliance to the United States' Foreign Accounts Tax Compliance Act (FATCA), which was instituted to tackle tax evasion.

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BARBADOS - Need for micro-finance framework says Sinckler

Minister of Finance, Chris Sinckler is recommending an appropriate regulatory framework for micro-financing in Barbados.

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Janet Harris to become Executive Director for Canada, Ireland and the Caribbean at World Bank

BASSETERRE, St. Kitts, 17th October 2012– The appointment of outgoing Financial Secretary, Mrs. Janet Harris, to a position within the World Bank in Washington, D.C., is not only “a special opportunity for her” but is also a “great reflection on our country.”

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Jamaica moving to protect Jamaican brand products

THE MINISTRY of Agriculture, in collaboration with the Jamaica Intellectual Property Office (JIPO), is taking steps to protect brand Jamaica in the areas of rum and spirits, coffee, and jerk products.

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Canada’s Finance Minister goes to bat for CARICOM before the World Bank and the IMF

BASSETERRE, St. Kitts, 16th October 2012– Canada has told the World Bank and International Monetary Fund that reducing poverty in the Caribbean has been made more difficult due to their continuous diet of disasters, shocks and crises, whether they be natural, environmental or economic.

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Fitch upgrades Belize Sovereign Investments III (Cayman) Limited’s ratings

Fitch Ratings has taken the following rating action on the notes issued by Belize Sovereign Investments III (Cayman) Limited (BSI; the issuer):–$85.7 million notes upgraded to ‘A+’ from ‘A’; Outlook Stable.

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Suriname, Guyana, Belize landmasses again the center of food security talks |

Dr_Arlington_ChesneyPORT OF SPAIN, Trinidad–Leading Caribbean agriculturist Dr. Arlington Chesney, Executive director of the Caribbean Agricultural Research and Development Institute (CARDI), has highlighted the opportunities Caricom’s mainland territories such as Suriname, Guyana and Belize offer in the matter of food security.

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BAHAMAS - 100M Gov't bond 'oversubscribed'

The Central Bank of the Bahamas’ governor last night confirmed that the Government’s latest $100 million bond issue was “oversubscribed”, with a portion of the funds raised potentially funding its share of Baha Mar’s infrastructure works.

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IMF: Suriname GDP to grow 4.5 % in 2013

WASHINGTON–Suriname’s GDP will post 4.5 percent growth in 2013 and the country will thus be among Caribbean countries to post highest GDP growth rates next year, according to quarterly projections released  in the International Monetary Fund’s World Economic Outlook.

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BELIZE in default despite partial payment says S&P

The Standard & Poor’s (S&P) ratings agency said late Friday that its selective default (SD) foreign currency rating on Belize and its ‘D’ rating on Belize’s bond due in 2029 remain unchanged following the government’s partial payment of US$11.7 million on Thursday.

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Caribbean to benefit from IMF gold sales

IMFWASHINGTON—The International Monetary Fund (IMF) says it will distribute about US$1.1 billion in reserves attributed to windfall gold sales profits to its members in order to boost its concessional lending capacity for the Caribbean and other low-income countries during the global crisis.

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Caribbean Banks seeking to fight US tax reporting rules

accountsPublished reports have revealed that banks in the Caribbean are trying to band together to fight the imposition of a new rule from the United States government that would force the banks to turn over information that would identify U.S. taxpayers trying to hide money in the Caribbean to avoid paying U.S. taxes.

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