News
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SURINAME-FINANCE-Suriname insurance company acquires Trinidad’s Gulf Insurance
PARAMARIBO, Suriname, CMC – Assuria insurance company has acquired the Trinidad and Tobago-based Gulf Insurance Ltd in a move the company says will solidify moves to expand its operations into the Caribbean. The cost of the sale has not been disclosed, but Assuria’s general manager Stephen Smit told shareholders that the Central Bank of Suriname (CBvS) had granted permission to…
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IRS targets Caribbean bank accounts
KINGSTON, Jamaica, Observer – A federal court in California has authorised the Internal Revenue Service (IRS) to serve a “John Doe” summons seeking information about US taxpayers who may hold offshore accounts in a Barbados-headquartered Caribbean bank. The Department of Justice has identified the bank as the Canadian Imperial Bank of Commerce FirstCaribbean International Bank (FCIB). It said the order…
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CARIBBEAN-ECONOMY-Psychometric testing a good indicator for creditworthiness in the Caribbean
WASHINGTON, CMC – The Inter-American Development Bank (IDB) says it has found that “psychometric” testing is a “good predictor” of creditworthiness and a cost-effective way for financial intermediaries in Latin America and the Caribbean to reduce the costs of their credit assessment operations. The Washington-based financial institution said the testing is a tool that has been successfully used by human…
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CDC begins consultations on disasters towards Cabinet approval
GEORGETOWN, Guyana, Chronicle – THE Civil Defence Commission (CDC) hosted a National Stakeholders Consultation yesterday at which there was a presentation on the National Early Warning Systems (EWS) in Guyana. First in a series, the event was in an effort to get feedback on the documented proposals prior to seeking Cabinet approval of them. The forum saw participation by representatives…
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Belize Government To Launch National Bank
KINGSTON, Jamaica, Gleaner – The Belize government is to launch a national bank that Prime Minister Dean Barrow said should place pressure on commercial banks to reduce lending rates to consumers in the future. Barrow said the National Bank of Belize Limited will have a start-up capital of BDZ$20 million (one Belize dollar = US$0.50 cents) that will come from…
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Government To Send Home Retirement-Age Teachers
KINGSTON, Jamaica, Gleaner – TEACHERS WHO have reached the retirement age but who are still working in the public sector in that capacity are to be sent home as part of Jamaica's agreement with the International Monetary Fund (IMF). Schools employing teachers who are beyond the retirement age are to be notified that they must regularise by September, Jamaica has…
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Gov’t Needs To Look At Diaspora’s Impact In Moving Forward – Tufton
KINGSTON, Jamaica, Gleaner – Deputy Leader and Opposition Spokesman on Foreign Affairs, Foreign Trade and Investment, Dr Christopher Tufton, is pushing for Jamaica to conduct a comprehensive examination of the economic and social impact of its large and growing diaspora community to inform the country's policy strategy on diaspora affairs. Addressing a G2K function in the Bronx, New York, earlier…
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