News
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US Supreme Court hears arguments in Stanford class action suits
WASHINGTON, CMC – The United States Supreme Court has begun debate on the reach of the fede ral securities laws by questioning whether investors can sue law firms and outside companies for their alleged roles in jailed Texas financier Allen Stanford’s US$7 billion Ponzi scheme. Stanford is currently serving a 110-year sentence in a US federal prison for masterminding the…
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PM and other senior PNP officials file appeal against ruling by Constitutional Court
KINGSTON, Jamaica, CMC – Two weeks after the Constitutional Court ruled that Prime Minister Portia Simpson Miller and other leading members of the ruling People’s National Party (PNP) should answer questions from Dutch investigators under oath in open court , the ruling is being appealed. The Dutch authorities want to question Prime Minister Simpson Miller, PNP Chairman Robert Pickersgill, Energy…
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Police Commissioner remains focus on crime, not on US sanctions
CASTRIES, St. Lucia, Oc 7, CMC – The St. Lucia police say they are not overly perturbed at possible United States sanctions over alleged human rights abuses and have been focusing on reducing criminal activities on the island. “I have generally said my piece on the US sanctions. This remains a very contentious issue, but we have been keen on…
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Guyana receives shipment of fertiliser from Venezuela
GEORGETOWN, Guyana, CMC – The Guyana government said Monday it had received the first shipment of 5,000 tonnes of fertiliser from Venezuela under a revised agreement between the two countries. Agriculture Minister Dr. Leslie Ramsammy said the agreement would significantly boost the agricultural sector, as it will address the cost of production for agricultural products. Farmers have over the years…
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Dominica re-emphasises importance of developing geothermal energy sector
ROSEAU, Dominica, CMC – The Dominica government Monday re-emphasised the importance of developing the island’s geothermal energy sector as the Independent Regulatory Commission (IRC) granted the island’s lone electricity supplier with two new 25 year licences. Public Works, Energy and Ports Minister Rayburn Blackmoore said Dominica, like many other Caribbean countries, do not have natural gas or proven oil. “But…
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Grenada to host workshop on OECS Economic Union
CASTRIES, St. Lucia, CMC – Grenada will host a three-day workshop outlining the benefits, implications and opportunities of an Economic Union of the Organisation of Eastern Caribbean States (OECS). The St. Lucia-based OECS Secretariat said that the October 9-11 event being conducted by the Regional Integration Unit (RIU) is specifically designed for middle and senior level officers representing ministries of…
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Unemployed? – Look to the UN, urges official
KINGSTON, Jamaica – JAMAICANS are an endangered species at the UN Secretariat housed in New York in the United States. Of the roughly 43,000 people employed there, only 136 are Jamaican. Of that number, only 28 fall within the professional category, with “very few” in senior-level posts. “Jamaicans, therefore, remain underrepresented at the senior levels within the United Nations. Further,…
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Jamaica Facing Possible Currency Crisis
KINGSTON, Jamaica – A country enters a currency crisis if its exchange rate depreciates by more than 25 per cent in a given year. So far this year, the Jamaican dollar has depreciated approximately 12 per cent, moving from J$93 to US$1 in January to roughly J$104 to US$1 at the moment. The last time the Jamaican dollar had such…
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