Business
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Guyana waives all banking charges for the rest of 2020: CARICOM BUSINESS
The Government of Guyana has announced measures geared towards easing the financial burden on citizens in the wake of the COVID-19 pandemic. According to newly appointed President, Dr Irfaan Ali an agreement has been reached with the local banking sector to extend the moratorium on loan payments until the end of the year and to cut interest rates. “Commercial banks…
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Fifty-nine percent of business contemplate closure – JMEA Survey: CARICOM BUSINESS
Some 59% of Jamaican businesses have been considering temporary or permanent closure of business. That is one of the findings of a Jamaica Manufacturers and Exporters Association (JMEA) Productive Sector COVID-19 Impact Survey conducted April 28 to May 22, 2020. The responses were garnered from the JMEA’s membership base. In making the disclosure at a Private Sector Organisation of Jamaica…
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USA cautions against CARICOM travel, not so says UK: CARICOM BUSINESS
All CARICOM Member States except Dominica have been accorded a Category 3 status by the USA, thereby warning its citizens, a major source of visitor arrivals to the Region, to avoid non-essential travel to the destinations, as the risk of COVID infection is high. For Dominica no health and travel guidance was issued. In the meantime, England has designated 10…
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Bank of Jamaica developing digital currency as legal tender: CARICOM BUSINESS
The Bank of Jamaica, BOJ, plans to test a digital currency as an alternative to cash later in 2020. The Central Bank Digital Currency, or CBDC, would be additional to banknotes and coins, and backed by the Central Bank as legal tender. It will be tenable in Jamaica only. According to the BOJ, the digital currency will be issued to…
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Global Maritime Leaders Engage CARICOM Students
In the wake of the COVID-19 pandemic which has pushed learning online across the region, a maritime webinar series will promote maritime education and job opportunities in shipping and logistics—one of the most important sectors in the Caribbean economy. The American Caribbean Maritime Foundation (ACMF), in association with the Caribbean Association of National Training Authorities, and CARICOM Youth Ambassadors, will…
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Antigua Gazettes New Companies Legislation: CARICOM BUSINESS
The Antigua and Barbuda government has provided an avenue for the sub-regional airline, LIAT, to seek Court protection rather than being forced into liquidation after it announced that the Companies (Amendment) Act 2020 was gazetted on Wednesday. A statement issued after the weekly Cabinet meeting said that under the amended legislation “firms that find themselves in trouble may now apply…
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Jamaica State bus company to launch mobile supermarket: CARICOM BUSINESS
The Jamaica Urban Transit Company (JUTC) Limited will continue to pursue a number of initiatives aimed at increasing operational efficiencies, despite a 30% drop in revenue due to the novel coronavirus (COVID-19). One of the most ambitious proposals from the company is a plan to convert one of its buses into a mobile supermarket, geared at serving elderly and disabled…
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Visitors to Jamaica and Antigua to be tested for COVID-19: CARICOM BUSINESS
The Government of Jamaica has announced that as of June 15, 2020, all tourists and nationals arriving in the island will be tested for the COVID-19 coronavirus. Tourism Minister Edmund Bartlett made the disclosure on Thursday while speaking at a virtual media briefing. “All visitors and locals alike who are coming in as of the 15th (June) will be tested.”…
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Commercial flights to resume amidst 12% GDP decline – Jamaica: CARICOM BUSINESS
“For the fiscal year ending March 2021, the Jamaica economy is projected to contract within a range of 4 – 6%. “This, Director General of the Planning Institute of Jamaica says would be “the weakest economic performance in almost four decades.” “This comes on the heels of a projected fallout of 12 – 14% for the economy in the April…
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COVID-19COVID-19 test requirement for visitors being reconsidered: CARICOM BUSINESS
The Government of Antigua and Barbuda says it is reconsidering asking tourists to quarantine at their hotel and could also drop the requirement for an advanced COVID-19 negative test result. This as the island is slated to reopen its borders on June 1 with tourist arrivals expected within a few days after that. Information Minister Melford Nicholas says “it’s not…
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