Business

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Jamaican tourism sector ‘in transition’ says minister

Jamaican minister of tourism and entertainment blames industry performance on economic changes.
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Expedia giving small Caribbean hotels an edge

Expedia has partnered with a larger number of small hotels with 50 rooms or less, which has led to an increase in net transactions from this sector by nearly 30 percent year on year for that period....
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Belize ‘super bond’ saga soon at end

Belize super bond gets ready to close offering after 100% subscription rate; greater economic growth now possible says Prime Minister....
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Stanford receivers in US and Antigua reach settlement agreement

Almost US$300 million in frozen assets to be released to Stanford victims through agreement between receivers in US and Antigua....
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End to US fiscal crisis will help Caribbean states

Zhivargo Laing, a noted Caribbean economist, said the time had come for Caribbean states to reach out to the American lawmakers, "to be more proactive in engaging US policy makers to promote our economic interests." ...
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IMF economist warns Eastern Caribbean countries

Alfred Schipke, formerly of the IMF Western Hemisphere Division, said that if those countries speak with one voice they can have better representation at the global level....
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Moody’s downgrades Jamaica's foreign currency credit rating

Moody's has projected that Jamaica's 2013 debt metrics, at 119 per cent of gross domestic product and 470 per cent of revenues, are among the highest of all rated sovereigns....
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Recent breach could affect credit card customers across the Caribbean

Caribbean Association of Banks sends out region-wide alert following recent data breach....
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Caribbean - big consumer of US goods

Regional imports from the United States totals more than US$22 billion....
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Columbus International makes its 3rd telecom acquisition within a year

Columbus International has announced its takeover of the parent-company of Karib Cable....
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US and Antigua go back to negotiating table

Antiguan officials engaging US trade representatives in Washington to resolve ongoing online gambling dispute....
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Sagicor Life expanding into Costa Rica

Sagicor partners with Central American investment company to establish new insurance arm in Costa Rica....
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Caribbean Development Bank signs US$20M loan agreement with IDB for small Caribbean economies

The CDB will on-lend the funds for the financing of public sector projects in Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines.
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Alert, attentive and active citizenry keeps governments honest

The former finance minister of The Bahamas said: "Winning elections only matters if the governing that follows progresses the nation."
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World Bank says Caribbean to be among areas dominating global investment

Report predicts that by 2030, half the global stock of capital will be in the developing world, with countries in East Asia, Latin America and the Caribbean accounting for the most.
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First Citizens Investment Services receives award for service excellence

The St. Lucia-based investment company is the sister firm of First Citizens Investment Services (Barbados) Ltd., and of First Citizens Bank, which opened its doors in Barbados in 2012.
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“New record high” of foreign direct investment in Caribbean - ECLAC

ECLAC predicts that this year's FDI inflows to the region will range between a fall of three per cent and a rise of seven per cent.
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Salary increases on the way for St Lucia public servants

Government said that the increase will be a one per cent in the first year followed by a 1.5 per cent hike for the remaining two years.
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LIAT to present legal opinion summary to Trinidad prime minister

The shareholder governments have complained that the Port-of-Spain subsidy to CAL is a violation of the Revised Treaty of Charguaramas that governs the regional integration movement.
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Caribbean Airlines records estimated losses of US$70m

Caribbean Airlines, which began operations in 2007, acquired Air Jamaica in 2011. The Jamaican Government has a 16 per cent stake in the Trinidadian air carrier.
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Caribbean governments need to modernize tax system - study

The study argues that taxation is largely viewed in the region as a means of generating income to pay governments’ bills, rather than as a valuable instrument to achieve important development goals.
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St Lucia budget aims at reducing subsidies on basic food commodities

Prime Minister Dr. Kenny Anthony told legislators that the budget, which he described as “realistic” and meeting the socio-economic challenges of the country “head on.”