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CSA chief: Corruption impeding regional shipping
PORT OF SPAIN, Trinidad – President of the Caribbean Shipping Association (CSA ) Grantley Stephenson says corruption in international trade is impeding growth of the region’s maritime business. Speaking at Monday’s opening of the 12th Caribbean Shipping Executives Conference in Freeport, Bahamas, Stephenson said: “The association has previously addressed issues related to smuggling of narcotics and through earlier contacts with…
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IMF says financial position stronger than ever
BASSETERRE, St. Kitts, CMC – The International Monetary Fund (IMF) says the economy of St. Kitts and Nevis is projected to recover and grow by two percent in 2013 and that despite a challenging economic environment, the overall fiscal position through end-March 2013 was stronger than expected. The IMF issued a statement on Thursday following an April 20th to May…
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Britain to continue funding geothermal project
BRADES, Montserrat, CMC – The United Kingdom says it is committed to the development of geothermal energy in Montserrat as the British Overseas Territory announced it will soon test a well to determine its capacity to generate geothermal energy. Department for International Development (DFID) Minister of State Alan Duncan and Parliamentary Under-Secretary of State for the Foreign and Commonwealth Office…
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Moody’s lowers Bermuda’s rating
HAMILTON, Bermuda, CMC – International ratings agency Moody’s Investors Services has downgraded Bermuda’s rating by another notch, reiterating its concerns about government’s mounting debt and lack of an economic recovery. Moody’s lowered Bermuda to Aa3, three notches below the top triple-A level stating that the outlook is negative, reflecting uncertainty about government’s debt trajectory over the medium term. The move…
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Haiti a lucrative market for Jamaica Broilers
KINGSTON, Jamaica – HAITI has unearthed real potential for Jamaica Broilers as the local-based company expands its reach in the Caribbean market. A year after setting up shop in that eastern Caribbean island, Donald Patterson, vice-president of accounting and information system at the Jamaica Broilers Group, said he expects “great things” from the earthquake-ravaged country.
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Marathon debate on no-confidence motion Monday
PORT OF SPAIN, Trinidad- Next Monday’s debate on the Opposition’s no-confidence motion against the Prime Minister will be a marathon one, lasting into Tuesday, Communication Minister Jamal Mohammed said yesterday. Speaking at yesterday’s post-Cabinet media briefing, Mohammed said all Government MPs would speak and were prepared to debate into Wednesday if necessary. The motion was filed by Opposition Leader Keith…
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PM says economy shows slight improvement
KINGSTOWN, St. Vincent, CMC – Prime Minister Dr. Ralph Gonsalves says the local economy has shown slight improvement during the first three months of this year , but that preliminary figures show a “deterioration” in April. “On the face of it, for the first three months, we have an improvement in the fiscal situation. But, I have seen the preliminary…
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Caribbean political, business leaders meet on Branson’s private island to discuss conservation
KINGSTON, Jamaica – In a bid to safeguard biodiversity and the Caribbean’s tourism-based economy, regional political leaders and corporate executives will gather Friday on billionaire Richard Branson’s private island with the aim of protecting 20 per cent of the region’s coastal resources by 2020. Participants are expected to announce various commitments to advance the “Caribbean Challenge,” an initiative that is…
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Suriname looks into solar energy for its remote communities
PARAMARIBO, Suriname, CMC – Suriname’s Government has announced that it will be investing in solar energy to bring electricity to remote communities across the country Gunzi, a Maroon village in the upper Suriname River region will serve as test subject for the project that was announced last Tuesday at the Cabinet of the President. Alternative energy company WTEC from the…
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OECS policy unit conducts consultations on Trade facilitation
CASTRIES, St.Lucia , May 16, CMC-Specialists from the OECS Secretariat are meeting in Basseterre, St Kitts Nevis, this week for a consultation on national and regional measures to better facilitate trade in keeping with the emerging commitments being negotiated on Trade Facilitation in the World Trade Organisation. This will be the final in the current series of national consultations which…
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