December, 2008

Guyana, Suriname companies ink telecommunications deal

The Guyana Telephone and Telegraph Company (GT&T) and Telesur of Suriname yesterday signed an agreement that will see them investing more than US$60 million to lay another fibre-optic cable for telecommunications traffic to serve both countries.

Cuba cutting spending to deal with crisis

As Cuba prepares to face the challenges arising from the global economic crisis, President Raul Castro has announced cuts in unnecessary government expenditure as one of the ways the country will deal with the slowdown.

IDB boosts aid; warns of complacency

The Inter-American Development Bank (IDB) increased loan, credit guarantee and grant approvals by about a quarter to a record US$12.2 billion this year, in an effort to help Latin America and the Caribbean weather the global financial crisis.

More flood threats in Guyana

More communities across Guyana are being threatened as heavy rainfall pounds the country and worsens the situation in areas still under water for nearly two weeks.

Prison break in Guyana foiled

Yesterday’s prison break by six inmates, including two accused of two massacres earlier this year, turned out to be short-lived after quick action by police led to their recapture.

Region’s tourism to feel brunt of crisis

The United Nations’ Economic Commission for Latin America and the Caribbean (ECLAC) has put the region on warning that it be hardest hit by the stagnation in tourism caused by the financial crisis.

Fund for children of Jamaica accident victims

An initiative has been launched to assist the nearly 50 children who lost parents in the accident earlier this month which was described as one of the worst vehicular accidents in Jamaica’s recent history.

More transparency for public procurement

Barbados will update and improve its public procurement system in order to make it more efficient, transparent and accountable with a US$5 million loan approved by the Inter-American Development Bank (IDB).