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Obama’s Nomination of Jim Yong Kim for World Bank President is a Victory for Reform

Washington, D.C.- The Obama administration’s announcement that it will nominate health expert and Dartmouth College president Jim Yong Kim for World Bank president represents a historic milestone in the institution’s history, with the U.S. nominating, for the first time, a qualified candidate, Center for Economic and Policy Research (CEPR) Co-Director Mark Weisbrot said today.

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Decision to ground REDjet takes Caribbean by surprise

Trinidad Guardian - Earlier this month, the airline began advertising and selling tickets for its Barbados to St Maarten service, which was scheduled to begin on May 19 and last week the airline began selling tickets for the Barbados to Antigua service, which was scheduled to start on June 6.

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DOMINICA - Special $75m fund to help OECS policyholders

The Organisation of Eastern Caribbean States (OECS) will continue holding talks with the Trinidad and Tobago government over the establishment of a special fund to assist policyholders affected by the collapse of insurance giant Colonial Life Insurance Company (CLICO), Dominica Prime Minister Roosevelt Skerrit said on Tuesday.

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Commodities fall on worries about China’s slowdown

commoditiesNEW YORK— Most commodity prices fell yesterday after new reports signalled economic slowdowns in China and Europe, creating fresh worry that global demand could moderate. Metals, oil and some agricultural crops all finished lower.

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CAYMAN- Property market rebounds

cayman_real_estate(CNS Business): Property purchased in the Cayman Islands in 2011 by the Dart Group amounted to 28% of the total value of all transfers and amounted to more than CI$139 million, according to the fourth annual, independent review of the Cayman Islands property market by chartered surveyors, Charterland Ltd.

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TRINIDAD - Caribbean Airlines VP of Operations demoted

CAL_tailVice president of Operations at Caribbean Airlines (CAL), Thomas Lawrence, has been demoted and chief pilot Jagmohan Singh is now acting in his position at the State carrier.

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JAMAICA Planning Billion-Dollar Bond Floats In US

Jamaica has registered with the Securities Exchange Commission (SEC) its plan to float up to US$1 billion (J$87b) of debt in the United States market to finance its budgetary requirements.

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SURINAME - Conservation group irked by story on rainforests’ investment potential

Suriname_ACT-logo-2PARAMARIBO–Local conservation institute The Amazon Conservation Team (ACT) Suriname has questioned the sense behind a recent publication that promotes investments in the forests of Suriname.

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Antigua struggles to achieve economic growth

ST JOHN’S, Antigua – Despite several measures in place to tackle domestic and external debt, the government continues to face significant challenges as it strives to secure a sustainable path.

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Cadiz: Tobago businesses taking a beating

A number of companies in Tobago are going into receivership because of lack of business, Trade Minister Stephen Cadiz said yesterday.

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TRINIDAD - McLeod: TCL can end up in foreign hands

TRINIDAD Cement Ltd (TCL) is facing financial ruin as a result of strike action by workers and if not resolved shortly, the company may end up being acquired by its major shareholder, the Mexican company Cemento de Mexico (CEMEX).

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REDjet Still Negotiating For State Subsidy

Ian_Burns_REDjet8REDjet, the Caribbean's discount airline which suspended all flights as of late Friday because of financial problems, said that it continues to negotiate with relevant authorities in its bid to obtain some form of state subsidy to keep its planes in the skies, but its principals have declined to give details.

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TOURISM - UK air tax costs 91,000 jobs

uktaxMar 12, 2012 - New research by the World Travel & Tourism Council (WTTC) shows that removing Air Passenger Duty would result in an additional 91,000 British jobs being created and £4.2 billion added to the economy in 12 months.

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DOMINICA – Services sector performing wonders for the economy

ROSEAU, Dominica, Saturday, March 17, 2012 – Executive Director of the Dominica Coalition of Service Industries (DCSI) Lester Riviere has underscored the need for government assistance in order to realize the full potential  of the island’s services sector.

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JAMAICA - Formal talks for new IMF deal to begin soon

Jamaica will be seeking to hammer out a new arrangement with the International Monetary Fund (IMF) when officials visit the country next week, just under a month before the start of the new financial year.

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SURINAME - A jungle trek for investments in Suriname

PARAMARIBO, Suriname (MarketWatch) — Suriname has some of the least spoiled and species-rich land on earth, and social entrepreneurs here are working to keep it that way — with a twist: developing a model of conservation and commerce.

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ST VINCENT removed from tax haven blacklist

Prime Minister Dr Ralph Gonsalves says St Vincent & the Grenadines has been removed from a French blacklist of non-cooperative tax jurisdictions.

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TRINIDAD - Bayfield boss: Offshore discovery ‘promising’

BayfieldBayfield Energy CEO, Hywel John, yesterday described the discovery of oil and natural gas in the Galeota block, which is located off the south-east coast of Trinidad, as “promising” and a “very important first step” in the independent energy company rolling out its programme for exploration in T&T.

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CEPR's Mark Weisbrot on the Greek bailout

greece-bailoutTwo days after the Greek government and European authorities announced a new €130 billion bail-out agreement, CEPR released a paper that looks at Greece's experience with “internal devaluation” and finds there's a high risk of continued prolonged recession.

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Corbie CAL's chief operating officer

PORT OF SPAIN, Trinidad - State carrier Caribbean Airlines has appointed its acting chief executive Robert Corbie as chief operating officer.

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GUYANA - No secrecy in ethanol feasibility study says Ansa Mc Al

Ansa Mc Al Group of Companies on Wednesday rejected claims of secrecy in a feasibility deal to invest US$300 million in making ethanol in Guyana and said the prospects of doing so would become clearer by year-end after the US$2.7 million study.

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