Business

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Jamaica to receive US$932 million loan from IMF

The IMF said the approval enables an initial disbursement by the Washington-based financial institution of US$207.2 million.
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Caribbean bank accounts come under scrutiny of IRS

The Department of Justice has identified the bank as the Canadian Imperial Bank of Commerce FirstCaribbean International Bank (FCIB). ...
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Information technology can boost Caribbean economies - study

Drawing on country reviews over several countries and citing other evidence, the study suggests governmental actions that can promote local IT-sector development through public procurement....
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Grenada receives World Bank praise

The World Bank said Grenada urgently needed to create the conditions to ensure the recovery of the domestic private sector, sustain economic growth, and support the generation of fiscal revenues to finance Government programs and control the level of public debt....
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Two per cent growth predicted for Caribbean economies - ECLAC

ECLAC said regional countries will grow, on average, by 3.5 per cent in 2013, thanks to buoyant internal demand and the improved performance of some countries....
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Columbus providing free Internet, educational TV to Barbados schools

John Reid, president and chief operating officer for Columbus Communications, parent company for Columbus Barbados. made the announcement at the company’s launch event last week....
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St Kitts expected to record economic growth near 2% in 2013 - Douglas

Dr. Douglas is on a visit to Canada, and told listeners that the country has been involved in a debt restructuring exercise “which means that there is much less money to be used to service our internal and external debt....
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Guyana president seeks investment from Trinidad and Tobago

President Donald Ramotar said the Guyana economy offers foreign investors predictability and he is hoping to cement more business ties with Trinidad and Tobago....
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Digital Jam 2.0 creates 4,000 online jobs for young Jamaicans

The World Bank announced that Digital Jam 2.0 - a digital job and market fair, has created employment for over 4,000 young people on online platforms. ...
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Flow supports CTU, Barbados Entrepreneurship Foundation

The grant of BDS$100,000 in cash and services to CTU and BD$20,000 to BEF, were the first set of planned activities under Columbus’ social development programmes for Barbados....
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Jamaica government delivers tax-free budget

In focusing on the growth of the economy, Finance Minister Dr. Peter Phillips promised that the government will implement several strategic investments with the logistics hub being one of the options. ...
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SVG opposition leader demands apology from prime minister

In response, Gonsalves said that Eustace’s claim has no legal merit, that he will not apologise, and he will vigorously defend any legal action against him....
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Antigua minister says no re-engagement with IMF

Finance, Economy and Public Administration Minister Harold Lovell made it clear that the Baldwin Spencer government does not have any intention of re-engaging the financial institution.
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Jamaica trade deficit narrows but not 'out of the woods' - Hylton

Industry Investment and Commerce Minister Anthony Hylton said that an export-led growth strategy, focused on diversification, is the only option for Jamaica.
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Bermuda 'summoned' to London tax evasion summit

Bermuda rejects the notion that it is a tax haven and sources here said that Finance Minister Bob Richards is likely to be among senior ministers from Bermuda who will attend the summit.
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Trinidad and Tobago bankers dismiss money laundering media reports

The Canadian Montreal Gazette in an article on May 30 quoted Canadian money-laundering specialist Garry Clement, a director with the Royal Canadian Mounted Police as saying that Panama and Trinidad and Tobago were known money laundering havens.
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Dominica seeks US$50 million for infrastructure projects

The government said it is seeking at least US$50 million for the projects and Skerrit said the island had developed a reputation for a being a model country in its quick responses to natural disasters.
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Fly Jamaica gets green light to operate two Guyana routes

Government spokesman Dr Roger Luncheon told a news conference that Cabinet gave the approval on Tuesday and that the airline would service the Guyana - New York route and the Georgetown -Toronto routes.
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Antigua successfully completes IMF Stand By Agreement

The IMF said that much of the adjustment under the programme has come from cuts in public spending and investment, while tax revenue targets for 2013 have been met largely through one-off payments of back taxes.
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Canadian bank indicates commitment to comply with IRS request

The IRS filed a “John Doe” summons requesting information on an unknown number of unnamed people against US taxpayers with offshore accounts at the Barbados-based FirstCaribbean International Bank.
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Jamaica aims to improve technology sector against cyber attacks

The Portia Simpson-Miller government has entered into an agreement with the International Telecommunications Union (ITU) to provide technical assistance to establish a cyber emergency response team (CERT).
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Barbados finance minister dismisses talk of IMF meeting

Finance and Economic Affairs Minister Chris Sinckler has rubbished suggestions that Barbados would be devaluing its local currency.