News
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St. Kitts seeking to deepen diplomatic relations with Cuba
BASSETERRE, St. Kitts, CMC – St. Kitts-Nevis is exploring the possibility of establishing an embassy in Cuba next year as the Federation seeks to improve its diplomatic relations with Havana, Prime Minister Dr. Denzil Douglas has said. Dr. Douglas gave the commitment during a courtesy call by Hugo Ruiz Cabrera, who assumed the post of Chargé d’affaires ad interim, following…
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Bermuda gets credit warning from Moody’s
HAMILTON, Bermuda, CMC – Cash-strapped Bermuda has received a fresh warning its credit rating may be downgraded as the island's debts mount in the midst of a four-year recession. International ratings agency, Moody’s Investors Service, on Wednesday placed Bermuda’s Aa2 rating on review for possible downgrade. The warning came just days after another leading agency, Standard and Poor’s (S&P), said…
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US official warns drug traffickers will expand in Caribbean as Latin America cracks down
SAN JUAN, Puerto Rico – The Caribbean will likely see a surge in drug-trafficking activity by 2015 as operations move slowly out of Central America due to an international crackdown, a top U.S. State Department official said Wednesday. William Brownfield, assistant secretary of state for international narcotics and law enforcement, said he believes drug traffickers squeezed out of Mexico, Central…
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IMF now finalising issues on Ja
NEW YORK, USA — The International Monetary Fund (IMF) says it is now “looking to finalise a few pending issues”, before submitting Jamaica's request for support under the Extended Fund Facility to its executive board. The submission is to be done as soon as possible, according to a spokesperson for the Fund who was responding to enquiries from the Jamaica…
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Cutting the fat – Finance minister to present tight Budget today
KINGSTON, Jamaica – Jamaicans will know today just how much the Government plans to spend during this fiscal year but already some financial analysts are warning the country to brace for a tight budget. “It is not going to be a budget of goodies,” financial analyst Colin Bullock told The Gleaner. “The country is in a very serious situation now…
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Regional countries to discuss new US regulations
NASSAU, Bahamas, CMC – The Bahamas will host a one-day Regional Foreign Accounts Tax Compliance Act (FATCA) workshop next week as Caribbean countries seek to comply with new regulations outlined by the United States. Financial Services Minister L. Ryan Pinder said that the workshop is being facilitated by the United States Treasury and Internal Revenue Services (IRS) . An invitation…
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Private sector groups worried at slide in local currency
KINGSTON, Jamaica, CMC – Two private sector organisations are warning that the Jamaican economy is nearing crisis level amid concerns of a rapid slide in the local currency. At the end of trading on Tuesday, the US dollar was being sold at a record J$99.08. At the start of the year, the US dollar was trading just above the J$93…
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No surprise at T&T being third fattest country, Doctor blames it on fast food
PORT OF SPAIN, Trinidad – Paediatrician Dr David Bratt said in a telephone interview yesterday he is not surprised that T&T is ranked as the third fattest country in the world. While Bratt questioned the validity of the UK Daily Mail’s report, he also said he was not surprised by the report, since lifestyles have changed. “There is worse food…
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