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GRENADA-Grenada seeks end to CLICO/BAICO debacle

PORT OF SPAIN, Trinidad, CMC – Grenada Thursday joined two other Eastern Caribbean countries in warning that the collapse of two Trinidad and Tobago based insurance companies could severely affect the ability of the sub-region to effectively deal with the global economic and financial crisis.

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BARBADOS-Finance Minister says economic recovery dependent on trading partners

PORT OF SPAIN, Trinidad, CMC – Barbados says its  recovery from the global economic and financial crisis will be dependent on the pace of recovery with its major trading partners, but indicated it will continue to pursue policies that will protect the socio-economic future of its citizens.

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CARICOM-CDB seeking to enhance competitiveness of small contractors and artisans

CDBlogo2BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) says it is providing assistance in enhancing the competitiveness of small contractors and artisans in the region.

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BAHAMAS-Prime Minister delivers multi-billion dollar budget

NASSAU, Bahamas, CMC – Prime Minister Hubert Ingraham Wednesday presented a US$3.1 billion budget outlining a number of tax measures in the face of what he termed the “ongoing challenging fiscal environment”.

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JAMAICA-Bank of Jamaica says local economy showing signs of recovery

BrianWynter9KINGSTON, Jamaica, CMC – Governor of the Bank of Jamaica (BOJ), Brian Wynter, says the local economy which is showing signs of recovery resulting in a one per cent growth for the first three months of the year.

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NEW PARADIGM: Efforts to ease insecurity affecting Caribbean economies

cdb_41PORT OF SPAIN, Trinidad, CMC – The Board of Governors of the Barbados-based Caribbean Development Bank (CDB) began a two-day meeting here on Wednesday against the background for a new growth trajectory to help ease the insecurity affecting Caribbean economies.

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CARICOM-Barbados to host regional central bank governors meeting

BRIDGETOWN, Barbados, CMC – A report on the performance of Caribbean Community (CARICOM) countries will be tabled at the 36th Bi-Annual Meeting of CARICOM Central Bank Governors here later this month.

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SURINAME-State-oil company records significant profits

chevron_surinamePARAMARIBO, Suriname, CMC – The state-owned oil company, Staatsolie, says high crude oil prices on the world market have resulted in revenue of  US$566 million last year.

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CARIBBEAN-LIAT suspends services to Tobago

liat_aircraft_tailST JOHN’S, Antigua, CMC – The regional airline, LIAT, says it will be suspending its services to Tobago from July 6 this year.

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JA's aviation industry suffers financial losses due to air traffic controllers strike

Oscar-Derby-01Jamaica's aviation industry has suffered significant financial losses following the two day strike by air traffic controllers.

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GUYANA-Europe to provide funds to diversify sugar industry

EU_fund_BldgGEORGETOWN, Guyana, CMC – Guyana will benefit from a Euro 18 million (US$26 million) financial package from the European Union to boost its sugar industry.

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BARBADOS - Mascoll says claims of improved economic performance is rubbish

BRIDGETOWN, Barbados - Oppostion economic spokesman Clyde Mascoll has dismissed suggestions by the Central Bank of Barbados that there has been economic growth, driven by an improved performance in the tourism sector up to April this year.

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SURINAME-Alcoa set to benefit from increase aluminum prices

bauxite_miningPARAMARIBO, Suriname, CMC – Rapid industralisation in China and India is fueling a positive outlook for aluminum and aluminum prices with the US-owned Alcoa, which operates Suriname Aluminum Company, L.L.C. (Suralco), bauxite mining company and refinery, is set to benefit on short and mid-long term.

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GRENADA-Chinese investors promise significant investment in Grenada:

ST. GEORGE’S, Grenada, CMC - Chinese investors have promised to plough US$200 million dollars into Grenada’s struggling economy after wrapping up a one week visit to the island.

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GUYANA-Gov’t to meet severance payment for sugar workers

GEORGETOWN, Guyana, CMC – The Guyana government says it will transfer GUY$300 million (US$1.4 million) to the Guyana Sugar Corporation (GuySuCo) to meet severance payments to sugar workers of the Diamond estate, East Bank Demerara.

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CAYMAN ISLANDS-Economic slump hurts labour market

GEORGE TOWN, Cayman Islands, CMC – Preliminary results from the 2010 Census have confirmed that the slump in the local economy had a negative impact on employment in this British Overseas Territory last year.

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TRINIDAD - REDjet considers legal action

Robbie_Burns_redjet_airlineLow fares airline REDjet said yesterday it will pursue legal action against the Trinidad and Tobago Government if the State does not honour agreements between Caricom countries over aviation rights.

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CAL launches non-stop service to Kingston

CAL_tailTRINIDAD GUARDIAN - Caribbean Airlines has launched a non-stop service from Port-of-Spain to Kingston. The flight will operate twice weekly, and passengers will be able to get from Port-of-Spain to Kingston non-stop on Tuesdays and Thursdays.

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BAHAMAS-Slight economic growth for Bahamas in 2010

NASSAU, Bahamas, CMC –The Bahamas economy grew by less than one per cent last year, even though the country recorded a decline in its Gross Domestic Product (GDP) in 2010.

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SURINAME-State company acquires US operations in Suriname

chevron_surinamePARAMARIBO, Suriname, CMC – The state-owned oil company, Staatsolie is acquiring all the gas stations operating here under the Teaxaco brand and owned by the US-based company, Chevron.

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