Business

  • Photo of SVG’s 2020 revenues higher than 2019 — Finance Minister: CARICOM BUSINESS

    SVG’s 2020 revenues higher than 2019 — Finance Minister: CARICOM BUSINESS

    In a break with tradition, the government of St Vincent and The Grenadines, in the absence of a budget for 2021, received approval from Parliament to borrow EC$125 million for capital expenditure for next year. Public Sector Investment Loan No. 2 Act 2020, presented by Minister of Finance, Camillo Gonsalves, authorises the government to raise funds to assist the government…

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  • Photo of Belize to launch NBB Pay e-wallet in early 2021: CARICOM BUSINESS

    Belize to launch NBB Pay e-wallet in early 2021: CARICOM BUSINESS

    The National Bank of Belize (NBB) has solicited the expertise of Barbados-based financial technology firm Bitt to create and launch a digital wallet that will complement the bank’s mobile banking services. “NBB is licensing a digital currency infrastructure from Bitt to support retail and business users’ access to simple secure and efficient payment solutions as they recover from the global…

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  • Photo of Internet access to be declared a public good in Jamaica: CARICOM BUSINESS

    Internet access to be declared a public good in Jamaica: CARICOM BUSINESS

    The Government of Jamaica is to roll out a broadband expansion programme, dubbed the National Broadband Initiative, which will seek to provide Internet connection to every household by 2025.  According to Minister of Science, Energy and Technology, Daryl Vaz, the Government will make access to the Internet a public good. The objectives of the initiative are to: achieve universal access;…

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  • Photo of 30% of tourism workers set to resume work amidst fallout: CARICOM BUSINESS

    30% of tourism workers set to resume work amidst fallout: CARICOM BUSINESS

    Jamaica’s Tourism Minister Edmund Bartlett says since its borders reopened in June, they have welcomed 300,000 visitors yielding some US$150 million. According to Bartlett, if the current arrival trend is sustained over the winter season, then about 30% of the 170,000 workers directly employed in the tourism industry should return to work. In the meantime, tourist arrivals in Dominica have…

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  • Photo of Jamaica moves towards an Independent Fiscal Commission:  CARICOM BUSINESS

    Jamaica moves towards an Independent Fiscal Commission: CARICOM BUSINESS

    The Government of Jamaica has initiated action to institutionalise fiscal transparency and strengthen its fiscal responsibility framework by way of an Independent Fiscal Commission. This was effected through tabling a Bill to that effect in the House of Representatives. According to Finance Minister Dr Nigel Clarke, “the fiscal commission will be the guardian and interpreter of Jamaica’s fiscal rules, monitoring…

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  • Photo of The CARICOM Private Sector Organization and the Caribbean Community Sign MOU 3rd December 2020 – CPSO

    The CARICOM Private Sector Organization and the Caribbean Community Sign MOU 3rd December 2020 – CPSO

    The CARICOM Private Sector Organization (CPSO) and the Caribbean Community (CARICOM), on Thursday 3 December 2020, signed a Memorandum of Understanding, which establishes the legal framework for cooperation and collaboration between the Private Sector and the Community, as mandated by the Conference of Heads of Government of the Caribbean Community. Mr. Gervase Warner, CPSO Chairman, and President and CEO of…

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  • Photo of CARICOM Private Sector Organisation and Caribbean Community sign MOU to support Regional Growth and Development

    CARICOM Private Sector Organisation and Caribbean Community sign MOU to support Regional Growth and Development

    The CARICOM Private Sector Organisation on Thursday signed a Memorandum of Understanding with the Caribbean Community to cooperate on the full implementation of the CARICOM Single Market and Economy (CSME), regarded as the most viable platform for supporting the Region’s growth and development. CARICOM Secretary-General Ambassador Irwin LaRocque signed on behalf of the Community and Chairman Mr Gervase Warner signed…

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  • Photo of LIAT is back!  –  CARICOM BUSINESS

    LIAT is back! – CARICOM BUSINESS

    Commencing November 30, sub-regional carrier LIAT will be resuming its commercial services by providing services to a limited number of destinations and routes. According to a November 25 press release, “The airline will operate flights 5 days per week to 7 destinations across the LIAT network. The seven destinations are: Antigua, Barbados, Dominica, Grenada, St Lucia, St Kitts, and St…

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  • Photo of St Lucia to introduce Tourism Levy December 15:  CARICOM BUSINESS

    St Lucia to introduce Tourism Levy December 15: CARICOM BUSINESS

    The Government of St Lucia will introduce a tourism levy effective December 15, 2020 to aid in the financing of the industry marketing and development. In a two-tier system, guests will be charged either US$3 or US$6 per person per night depending on a room rate below or above US$120. A rate of 50% of the tourism levy will apply…

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  • Photo of New company registrations soar in Jamaica:   CARICOM BUSINESS

    New company registrations soar in Jamaica: CARICOM BUSINESS

    Jamaica has recorded 3,586 new company registrations for the period January 1 to November 11, 2020. That’s according to data produced by the Companies Office of Jamaica and released on social media by Finance Minister Dr Nigel Clarke who noted that “in the middle of the pandemic and record economic contraction, Jamaicans are forming new companies at a rate not…

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