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Jamaica’s debt exchange 97% successful – Extended to Feb. 28

The Government of Jamaica announced on Friday, February 22, that it will accept and settle submissions in excess of 97 percent of bonds eligible for the National Debt Exchange (NDX), which was announced on February 12, 2013.

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Ministerial committee on flyinfish meets in Trinidad

flying fishBELIZE CITY, Belize - Friday, February 22, 2013 – The Caribbean Regional Fisheries Mechanism (CRFM) will today convene a meeting of seven Caribbean countries currently harvesting the Eastern Caribbean flyingfish (scientific name: Hirundichthys affinis), in Port of Spain, Trinidad and Tobago, to review governance and management issues that require immediate attention. 

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Caribbean concern over rum subsidies

caribbean-rumCARICOM has reiterated its concern over the threat posed to the competitiveness of Caribbean rum in the United States market by subsidies granted to rum producers by the United States Virgin Islands (USVI) and Puerto Rico (PR).

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Launching of the Caribbean Growth Forum (CGF) – St. Kitts and Nevis Chapter

world bankBASSETERRE, St. Kitts, 19th February 2013– The Caribbean Growth Forum (CGF) – St. Kitts and Nevis Chapter aimed at addressing factors that impede private sector development in the Caribbean with a view of identifying policies and initiatives that promote growth and job creation in the region will be launched here next week.

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Antigua bracing for cut in AA airlift

americanairlinesST. JOHN’S — One-third of airlift to a main regional hub from Antigua will be cut this spring as American Airlines ends its daily flights to San Juan, Puerto Rico, amidst continued financial difficulties.

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Moody’s reaffirms Cayman’s Aa3 ratings

Cayman Islands(CNS Business): CAYMAN ISLANDS -- Moody's Investors Service has re-affirmed the Cayman Islands at Aa3 with a stable outlook, citing a relatively low debt burden and high income levels. The ratings agency, however, pointed to the islands’ narrow economy and the jurisdiction's susceptibility to weather-related shocks, despite its strong institutional framework and oversight from the UK. The agency also noted Cayman’s high per-capita income as well as the recent deterioration of the fiscal accounts. “At $53,253 in 2011, Cayman's per capita GDP is the eleventh highest among all rated sovereigns and a key ratings support,” Moody’s said.

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International credit rating agency gives Trinidad and Tobago stable outlook

Trin-Central-BankNEW YORK, Jan 19, CMC – International credit rating agency, Moody’s Investors Service, has affirmed Trinidad and Tobago’s Baa1 government bond rating, adding that the twin-island republic’s economic outlook “remains stable”.

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Guyana questions Delta's claim of 'declining' passenger loads

delta55Contrary to Delta’s claim of 'significant decline in passenger loads' issued by Delta's Corporate Communications Manager, Guyana’s Aviation Minister, Robeson Benn on Saturday released figures that challenge claims by Delta Airlines that it has decided to scrap the Guyana-United States route because of low passenger loads and earnings during the past 18 months.

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GUYANA - Some CARICOM countries trying to block Guyanese goods says Agriculture Minister

leslie-ramsammyAgriculture Minister Dr. Leslie Ramsammy says some CARICOM nations have been operating less than neighbourly by putting up non-tariff barriers to Guyanese products.

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Cuba buys six new aircraft to service domestic routes

avion cubanaHavana, Feb 16 (Prensa Latina) The president of the Cuban Aviation Corporation S.A. (Cacsa), Ramon Martinez Hechavarria, says Cuba has acquired six new airplanes for domestic flights.

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JAMAICA - Fly Jamaica to take off on January 25

NEW local airline company Fly Jamaica will make its first commercial flight on January 25 -- from the Norman Manley International Airport in Kingston to JFK Airport in New York.

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Bahamas - Perry tables white paper on tax reform

Perry Christie88Nassau, The Bahamas -- Prime Minister and Minister of Finance the Rt. Hon. Perry Christie says his Government plans to resolve the nation's unemployment phenomenon and stimulate the economy by way of an ambitious a business plan with a tax reform element.

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US Banks to pay $8.5b for home foreclosure abuse

jp-morgan-chase BankWASHINGTON—Ten major banks agreed yesterday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

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New guidelines for B’dos off-shore sector

Bridgetown3BRIDGETOWN—The Central Bank of Barbados says it has developed a new framework for granting licenses for prospective financial institutions seeking to operate here warning that it would reject any applicant if it determines that approval would not be in the public interest.

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Bank of America to pay Fannie Mae $3.6 billion to settle mortgage claims

Bank of AmericaBank of America has agreed to pay US government mortgage agency Fannie Mae $3.6bn (£2.2bn) to settle claims relating to residential home loans.

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CDB president warns 7 nations on rising debt

PRESIDENT OF the Caribbean Development (CDB) Dr Warren Smith yesterday warned member countries of the regional institution to avoid facing their own "fiscal cliff"-as happened to the United States-by moving vigorously to reduce their "mounting" debt stock. 

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Carnival Cruise line dropping Cayman

carnival 440Businesses dependent on cruise tourism are in for another rocky year after a decision by Carnival Cruise Line to reduce the calls its ships make to the Cayman Islands.

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Airlines want controversial Air Passenger Duty dropped

APD  protest 3LONDON—A new report has said that scrapping the controversial Air Passenger Duty (APD), which has negatively impacted on the tourism industry throughout the Caribbean, could generate 60,000 jobs by 2020. The report commissioned by four airlines, British Airways, easyJet, Ryanair and Virgin Atlantic, is also expected to boost gross domestic product (GDP) by almost one per cent.

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Jamaica’s tax threshold increases- relief for less fortunate

Effective today an estimated 111,000 Jamaicans will no longer pay a cess on their salaries as a result of a $66,144 increase in the income-tax threshold.

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US accuses S&P of ‘intent to defraud’

Standard--Poors-007LOS ANGELES—The United States Department of Justice has filed a civil fraud lawsuit against one of the world’s larger credit-ratings agencies that services Trinidad and Tobago and several other Caribbean Community (Caricom) member states. 

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LIAT chairman urges greater Links to support Caricom Single Market

Liat62Roseau, Dec 31 The Chairman of LIAT airline Dr. Jean Holder has proposed a meeting of CARICOM Heads of Government to discuss the burning issue of air transportation’s critical role in supporting the CARICOM Single Market and Economy.

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