News
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ECLAC says region receives “new record high” of foreign direct investment in 2012
SANTIAGO, Chile, CMC – The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) says the region received a “new record high” of foreign direct investment (FDI) in 2012. According to the ECLAC report “Foreign Direct Investment in Latin America and the Caribbean 2012”, the region received US$173.3 billion dollars of FDI (6.7 per cent more than in…
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2030: Shared prosperity is possible in our region
PORT OF SPAIN, Trinidad – The World Bank, under the leadership of President Jim Yong Kim, has focused attention on the ambitious and demanding work to eliminate extreme poverty in the world’s population by 2030 and to increase the income of the poorest 40 per cent in order to promote shared prosperity. It may sound bold, but it is possible…
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US-based university to help develop local agricultural sector
KINGSTON, Jamaica, CMC – Jamaica says it will receive assistance from a university in the United States to develop the research capacity of the local agricultural sector. Agriculture Minister Roger Clarke said a delegation from the Florida Agricultural and Mechanical University has arrived here for talks with various stakeholders and institutions, in order to familiarize themselves with existing infrastructure and…
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EU supporting regional food security project
PORT OF SPAIN, Trinidad, CMC – The European Union is providing an Euro 8.6 million (One Euro = US$1.29) grant to support a project to improve Caribbean food security in the context of climate change. The project is being conducted in Belize, Barbados, St. Kitts and Nevis and Trinidad and Tobago and is being organized by the Caribbean Agricultural Research…
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Jamaica uncovers scheme involving Trinidad and Tobago products
KINGSTON, Jamaica, CMC – Jamaica has imposed additional duties on lube oil product from Trinidad and Tobago, accusing the oil rich twin island republic of engaging in a scheme to circumvent the rules of origin in the Treaty of Chaguaramas, governing the Caribbean Community (CARICOM). Industry, Investment and Commerce Minister Anthony Hylton told parliament the scheme was brought to the…
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CAL to discuss route cut with Jamaica
KINGSTON, Jamaica – The state-owned Caribbean Airlines (CAL) recorded losses estimated at US$70 million last year, Finance Minister Larry Howai has said. He told the Senate on Tuesday that the figure does not include the US$40 million in fuel subsidy to the airline, even though he insists that the airline remains solvent. But Opposition legislator Dr Lester Henry said he…
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CAL’s current situation clearly unsustainable
PORT OF SPAIN, Trinidad – Is it unrealistic for T&T to continue to have a national airline? Or is the issue one of incompetent and corrupt management at the national airline? Can Caricom, as a group of struggling economies, continue to have half a dozen national airlines, all of them losing hundreds of millions of dollars annually? In the instance…
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