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Europe’s Careless Dithering
EUROPE’S economic problems are growing steadily worse, with unemployment in parts of the Continent now above the level reached in the United States during the Great Depression. Meanwhile, policy makers dither over solutions. Last week, the European Central Bank cut interest rates by a meager quarter of a percentage point, akin to giving two aspirin to a patient with pneumonia.…
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Extractive sector in focus at UWI conference
PORT OF SPAIN, Trinidad – The extractive sector—the mining, quarrying, dredging, oil and gas extraction industries—plays an important role in the global economic landscape, contributing significantly to the GDP of its host countries. These industries are capable of contributing to the sustainable development of communities and to the wider economy when interventions are implemented, taking into consideration the rights of…
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Government to build million-dollar medical facility
KINGSTON, Jamaica, CMC – The Cabinet has approved the construction of a US$200 million medical facility in the western parish of St. James in an attempt to tap into the multi-billion dollar global health tourism industry. Minister of Health, Dr. Fenton Ferguson said construction of the facility represents the first formal health tourism project for Jamaica and will be spearheaded…
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Caribbean nationals could benefit from new Immigration Bill
WASHINGTON, CMC – The United States Congress has started formal consideration of a sweeping immigration reform bill that creates a “path to citizenship” for an estimated 11 million undocumented immigrants, including Caribbean nationals. The Senate Judiciary Committee is expected to finish work on the bill this week adopting Republican amendments aimed at stronger border security. The immigration bill requires the…
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In Trinidad, Causes Debated as Flooding Worsens
PORT OF SPAIN, Trinidad, (IPS) – Officially, the Caribbean’s rainy season begins in June, coinciding with the start of the hurricane season. But recently, heavy rains have signalled an early start to the rainy season, flooding streets, swelling rivers and causing widespread damage to crops. “With global warming, you have to expect anything these days,” Shiraz Khan, president of the…
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Rating Agency reacts to IMF/Jamaica agreement
KINGSTON, Jamaica – RATING Agency Standard and Poor's says that last week's approval by the International Monetary Fund of a new agreement with Jamaica does not warrant a review of that country's credit worthiness at this time, as the details of the agreement were in line with expectations. At the same time, agency spokesman and analyst Joydep Mukherji has acknowledged…
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