Business
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Second Distinguished Owen Arthur Memorial Lecture by CARICOM Secretary-General
CARICOM Secretary-General, Dr. Carla Barnett on Monday 5 September delivered the Second Distinguished Owen Arthur Memorial Lecture in Bridgetown, Barbados. The lecture was delivered under the theme ‘The Future of CARICOM; Charting a Vision for the Region’s Economic Advancement’. It was organised by the the University of the West Indies Cave Hill Campus, Shridath Ramphal Centre, and the Caribbean Development…
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Remarks by CARICOM Secretary-General at Opening, First AfriCaribbean Trade and Investment Forum, Barbados, 1 September 2022
The First CARICOM-Africa Summit held on 7 September 2021, opened a new chapter in the deep-rooted and strong relations between CARICOM and Africa. It set in motion various initiatives to further deepen and strengthen relations between the African continent and the Community. In particular, the Leaders underscored the need to foster increased trade, investment, air travel, and maritime shipping links,…
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Antigua registers 7% increase in tourist arrivals in July – CARICOM Business
Antigua and Barbuda has reported a 7% increase in tourist arrivals in July as the country continues to record a “steady rebound” in visitor arrivals in the wake of the coronavirus (COVID-19) pandemic that had forced the closure of borders. The Ministry of Tourism said during July, Antigua and Barbuda welcomed 24,673 visitors, an increase of 23,405 from the corresponding…
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Barbados Gov’t caps fuel prices – CARICOM Business
Effective August 19, consumers in Barbados will be paying less for gasoline and diesel as Prime Minister Mia Mottley announced that the price of fuel at the pump will be capped for the next five months. Gasoline will cost BDS$4.48 (US$2.24) per litre, while diesel will be BDS$4.03 (US$2.01) until January 31, 2023. Mottley also said that the cap on…
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ECCU stock of international reserves jump 12.1%: CARICOM BUSINESS
The Eastern Caribbean Central Bank (ECCB) says monetary conditions within the Eastern Caribbean Currency Union (ECCU), “remain accommodative”. “Monetary and credit conditions improved during the first half of 2022, with growth in private sector credit being positive,” the ECCB said, noting that the ECCU’s stock of international reserves expanded to a level 12.1% higher than pre-pandemic levels. At the end…
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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…
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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…
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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…
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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…
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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…
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