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JAMAICA - Remittance inflows now over a billion

Bank_of_Jamaica1The Bank of Jamaica says remittance inflows into Jamaica, crossed the billion dollar mark in June despite global economic uncertainties and is set to grow further as global growth recover.

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CCJ judge urges Caribbean businesses to exploit EPA

More work needs to be done to inform the public on how they can take advantage of benefits the Economic Partnership Agreement (EPA) can offer the Caribbean region, says Justice Winston Anderson of the Caribbean Court of Justice (CCJ). “One of the important things, for me, is the extent to which the EPA has become operational. To what extent have the persons from the Caribbean, business persons, persons in government understand and take advantage of any opportunities there may be under the EPA.

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CAYMAN -UK reduces gov’t 'overdraft' borrowing ability

FCOCayman Islands government finance managers confirmed Tuesday that the United Kingdom had slightly reduced the total amount of available overdraft borrowing available in the territory’s 2012/13 budget.

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IMF gives Suriname the nod for “tight monetary and fiscal policies”

IMFPARAMARIBO–The International Monetary Fund (IMF) has come out very laudable of “tight monetary and fiscal policies” of Suriname’s Government. It said that the policies being implemented have helped contain domestic pressures and stabilize prices and are likely to raise the country’s growth potential, boost government revenue, and strengthen the balance of payments.

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BARBADOS - First Citizens cleared to buy Butterfield Bank – Shares valued at US$45m

State banking group First Citizens announced yesterday that regulators in both Barbados and Trinidad and Tobago have approved the purchase of Butterfield Bank (Barbados) Ltd by the local Group and that payment has been made by First Citizens for 100 per cent of the shares of Butterfield Bank (Barbados) Ltd from the Bank of NT Butterfield & Son Ltd.

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CAYMAN -Instant $100 visa offered for visiting workers

Cayman_work_visa(CNS): Visitors to Cayman who plan to engage in “non-professional” work for up to five days – such as entertainers and musicians-- can now apply for an instant Visitor’s Work Visa (VWV) that can be issued when they arrive on island.

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Creditors dig in for battle of Belize

The restructuring of Belize’s 2029 “superbond” may become a drawn-out battle, as creditors keep the country waiting for a formal response to proposals that could see them take a haircut of up to 80 per cent on the net present value of their holdings.

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US rum subsidies hammer Caribbean producers

rum_subsidiesKINGSTON, Jamaica — Rum, the sugar-based liquor that has fueled the development of the Caribbean for centuries, has become the focus of an increasingly bitter dispute with the U.S.

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TCI - Conch Farm owners suing TCI gov't for $50m

the_Conch_FarmTrade Winds Industries Limited, owners of the Conch Farm say they will be filing a $50million breach of contract civil lawsuit against the Turks and Caicos Islands Government.

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FortisTCI Acquires Turks and Caicos Utilities Limited

FortisFortisTCI (the Company) announced today that it has acquired 100 % shares of the Grand Turk based electricity company, Turks & Caicos Utilities Limited (TCU).The purchase agreement was finalized yesterday.

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Suriname signs global pact to improve container inspection

containershipPARAMARIBO, Suriname, Aug.23,— Suriname on Wednesday became the second Caricom nation to sign on to the UN-supported Container Control Programme (CCP).

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Finance Minister satisfied with CLF’s Lascelles sale

Finance Minister Larry Howai has said he is satisfied the board and management of the Government-controlled CL Financial Group made the best decision in agreeing to sell off its assets in Lascelles de Mercado to the Italian spirits company Campari for US$338 million.

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International credit rating agency lowers Belize’s rating

belize-currencyNEW YORK—International Credit Rating Agency Standard & Poor’s (S&P) has lowered its foreign currency sovereign credit ratings on Belize to selective default (SD) after the country failed to make a USUS$23 million debt payment.

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T&T deepwater bid round ‘a major success’

Twelve of the world’s oil and gas companies are competing against each other to search for hydrocarbons in Trinidad and Tobago’s deepwater. In what is the most successful bid round in more than a decade, and the first time that there is going to be real competition for blocks in the ultra deep waters off Trinidad and Tobago, five of the six blocks were bid on with no block attracting fewer than two bids.

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Economy on the verge of recession, says PIOJ

The Planning Institute of Jamaica, PIOJ, has indicated that the economy is on the verge of a recession and the situation could worsen.

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Debating Caribbean low economic growth

PORT OF SPAIN, Trinidad, Sept 4, – A two-day high level forum discussing low growth and high debt in the Caribbean began here on Tuesday with a senior International Monetary Fund (IMF) official indicating that the event provides an opportunity for getting to the root of why growth has been elusive in the region.

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Bahamas to hold referendum on gambling

The Bahamas government says it will hold a referendum on gambling but it will not extend to casinos.

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Who makes money from air travel?

CALatrAirlines are wonderful generators of profit – for everyone except themselves. Even in good times their margins are as thin as a boarding pass, and in recent years they have more often lost money. Averaged over the past four decades, the net profit margin of the world’s airlines, taken together, has been a measly 0.1 per cent.

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Tropical Shipping announces hikes in rates to Caribbean destinations

tropical_shippingBASSETERRE, St. Kitts, 20th August 2012– The Cost Of Shipping To St. Kitts And Nevis And Other Caribbean islands from the United States is to increase.

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Trinidad hosts forum to discuss help for Caribbean countries

Saul_Lizondo__IMFBASSETERRE, St. Kitts, 30th August 2012– St. Kitts and Nevis’ Prime Minister,  Dr. Denzil L. Douglas is among ministers of finance and central bank governors invited to a high-level forum to discuss how lessons from the past and from other parts of the world could help the Caribbean economies in light of the distinctive challenges the region faces.

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Antigua Gov’t seeks to raise $35M in T-Bills

antiguamapa20th August 2012, St. John’s Antigua- In an effort to close the budgetary shortfall, the Government has re-launched its Treasury Bill programme – this time borrowing a total of $35 million from individual investors.

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