Business

  • Photo of Jamaica’s unemployment rate plummets to 6%:  CARICOM BUSINESS

    Jamaica’s unemployment rate plummets to 6%: CARICOM BUSINESS

    The unemployment rate for April 2022 decreased to 6.0%, 3.0 percentage points lower than in the same quarter of 2021. The male unemployment rate fell to 4.7% from 7.5%, while the unemployment rate for females declined to 7.6% from 10.8%. The unemployment rate for youth aged 14-24 was 15.5% in April 2022, which represents an 8.6 percentage point decline when…

    Read More »
  • Photo of FDI to Caribbean increases by 39%: CARICOM BUSINESS

    FDI to Caribbean increases by 39%: CARICOM BUSINESS

    The United Nations Conference on Trade and Development (UNCTAD) says investment flows to the Region reached US$134 billion last year, up from US$88 billion in 2020. According to UNCTAD’ World Investment Report 2022, foreign direct investment (FDI) in Latin America and the Caribbean rebounded from the pandemic-induced slump, growing by 56% and FDI flows to the region had plunged by…

    Read More »
  • Photo of Bahamas collects $931 million in revenue in 11 months:  CARICOM BUSINESS

    Bahamas collects $931 million in revenue in 11 months: CARICOM BUSINESS

    The Department of Inland Revenue (DIR) in the Bahamas has collected $930.57 million in taxes from July 1, 2021 to end of May, exceeding current FYprojections by $100 million. According to Acting Comptroller of the Department of Inland Revenue Shunda Strachan $136 million came from real property taxes, $712 million was collected in value-added tax (VAT) – of which $220…

    Read More »
  • Photo of Jamaica records growth of 8.1% in FY 2021/22: CARICOM BUSINESS

    Jamaica records growth of 8.1% in FY 2021/22: CARICOM BUSINESS

    Jamaica has recorded growth of 8.1% for Fiscal Year 2021/22 well within the range of 7.0% to 9.0% previously projected. According to the Planning Institute of Jamaica, the growth was supported by improved performances in all industries, except Mining & Quarrying which contracted by an estimated 39.8%, due mainly to the closure of the JAMALCO alumina plant. The heavier weighted…

    Read More »
  • Photo of TCI on track for full tourism recovery: CARICOM BUSINESS

    TCI on track for full tourism recovery: CARICOM BUSINESS

    The Turks and Caicos Islands has seen a tremendous increase in visitor arrivals during the first quarter of 2022 and is on track to make a “full recovery”. According to preliminary data released by the Turks and Caicos Islands Tourist Board, 311,913 visitors arrived in the territory during the first quarter of the year. The Tourist Board also reported that…

    Read More »
  • Photo of IMF: Barbados recovery underway: CARICOM Business

    IMF: Barbados recovery underway: CARICOM Business

    Barbados has met all quantitative targets for end-December 2021 and end-March 2022 under the IMF’s EFF making it eligible for a drawdown of US$23 million. According to the IMF’s Bert van Selm, “international reserves, which reached a low of US$220 million (5-6 weeks of imports) in May 2018, are now at a comfortable level of US$1.5 billion.” The IMF official…

    Read More »
  • Photo of New US$500 million Regional conglomerate on the horizon: CARICOM BUSINESS

    New US$500 million Regional conglomerate on the horizon: CARICOM BUSINESS

    Seprod Limited is moving to acquire a 100 year-old Trinidad & Tobago company, A.S. Bryden & Sons Holdings, “to  create the leading integrated manufacturing and distribution group in the Caribbean,” the companies said In a joint announcement. Their combined revenues is estimated at US$500 million. Together, Jamaica-based Seprod and A.S. Bryden, with a team of close to 3,000 employees, will…

    Read More »
  • Photo of Barbados records growth of 11.8% in first quarter: CARICOM BUSINESS

    Barbados records growth of 11.8% in first quarter: CARICOM BUSINESS

    For the period January to March 2022, Barbados experienced inflation of 4.2%, unemployment declined from 12.4% to 10.9% and net international reserves reaching US$3.019 B or 36.4 weeks of import cover. According to the Central Bank of Barbados in its quarterly review, the economy grew by 11.8% during the reporting period. Activity in the tourism sector built on the performance…

    Read More »
Back to top button
Close