Month: February 2013
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CGX announced that it has begun drilling for oil in the Eagle-1 Well in its 100% owned and operated Corentyne Petroleum Prospecting Licence – the same spot it was evicted from by Surinamese gunboats 12 years ago.
CGX announced that it has begun drilling for oil in the Eagle-1 Well in its 100% owned and operated Corentyne Petroleum Prospecting Licence – the same spot it was evicted from by Surinamese gunboats 12 years ago. CGX’s rig is the second to be drilling for oil simultaneously offshore Guyana, a first for this country. CGX also has a 25%…
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GREIN INTEREST CLUSTERS ON ROADMAPS AND POWER GRIDS LAUNCHED UNDER GREIN
A launch of the interest clusters on technology deployment roadmaps for islands and power grid integration on islands under the Global Renewable Energy Islands Network (GREIN) initiative, established at the Third Assembly of the International Renewable Energy Agency (IRENA) was held in Auckland, New Zealand on 24 March 2013. Seven countries including one Member State, namely, Jamaica participated in the…
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Oil exploration in Guyana shifts to higher gear: CGX starts drilling Eagle-1 well
CGX starts drilling Eagle-1 well -same spot it was evicted from in June 2000 By STABROEK NEWS , MONDAY FEBRUARY 13, 2012 CGX announced that it has begun drilling for oil in the Eagle-1 Well in its 100% owned and operated Corentyne Petroleum Prospecting Licence – the same spot it was evicted from by Surinamese gunboats 12 years ago. CGX’s…
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European stocks up on G7 currency pledge
LONDON—A pledge by the Group of Seven most powerful economies to not intentionally weaken their currencies pushed stocks higher on yesterday while dragging the dollar lower against the Japanese yen and the euro. The G-7 nations, which include the US, Japan and Germany, said their economic policies should be “oriented towards meeting domestic objectives and not towards setting specific exchange…
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Caricom’s elusive transport agenda
PORT OF SPAIN, Trinidad and Tobago, Express- NOW THAT Carnival 2013 is over Trinidad and Tobago may well give some thought to last weekend's statement by Prime Minister Ralph Gonsalves of St Vincent and the Grenadines that this country is breaching Caricom's Revised Treaty in providing fuel subsidy support to state-owned Caribbean Airlines (CAL). Gonsalves currently wears two hats pertaining…
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‘Time hard and the dutty tough’, but…
KINGSTON, Jamaica, Observer – WE have a sense that the Government's version of JDX, being called the National Debt Exchange Offer, is a smart way to squeeze $17 billion annually out of the system, without sending the nation into panic. We will return to this tomorrow in this space. But at the same, we also have the sense that Monday…
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Our Hands Are Tied – Stakeholders Reluctantly Accept New Debt Exchange
KINGSTON, Jamaica, Observer – It was not a happy group inside the Bank of Jamaica Auditorium in Kingston yesterday morning as Prime Minister Portia Simpson Miller and Minister of Finance and Planning Dr Peter Phillips hosted the launch of the National Debt Exchange (NDX). The second of its kind in three years, Simpson Miller has indicated that the offer is…
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Government planning to tax churches, charities?
KINGSTON, Jamaica, Observer – ELIMINATING discretionary waivers altogether could return $4 billion in revenue to the Government. But the tax breaks, which are approved after applications are considered by the finance ministry, mostly go to charitable organisations, while public sector bodies and government contracts take up a significant portion of the rest. What's more, with a targeted primary surplus of…
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EDITORIAL – Debt Restructuring Merely One Step
KINGSTON, Jamaica, Gleaner – Monday night's unprecedented joint broadcast by Prime Minister Portia Simpson Miller and Finance Minister Peter Phillips about the proposed restructuring of Jamaica's domestic debt – and other measures to reform the economy – is a welcome first step. But Mrs Simpson Miller and Dr Phillips will understand if this newspaper, as do many other Jamaicans, wants…
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Exporters escape incentive cuts, for now
KINGSTON, Jamaica, Observer -THE Jamaica Exporters' Association (JEA) is breathing a sign of relief in the face of planned fiscal cuts by the Government. The association said it has been assured that statutory incentives to its members will remain intact though the Government continues to grapple with fiscal consolidation. “The obligations that the Government has already put in place will…
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