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Bahamas: Ministry of Finance Statement on The Moody’s Investor Service Downgrade December 13, 2012:
- By S Coward
- Published 14-Dec-12
- Banking/ Finance
- Unrated
Dec. 14, 2012 - In a rating action today, December 13, 2012, Moody’s Investor Service has downgraded the credit rating of the government of the Bahamas from A3 to Baa1.
Jamaica to Benefit from $240 Million Capacity Building Project
- By S Coward
- Published 13-Dec-12
- Economy, Trade & Investment , Banking/ Finance
- Unrated
Kingston - Dec. 13, 2012 - The Government of Jamaica and the European Union (EU) have signed a $240.7 million (€2.25 million) agreement to implement a Capacity Building Project under the Economic Partnership Agreement (EPA).
New US tax law could hit hard in BVI
- By S Coward
- Published 14-Nov-12
- Banking/ Finance
- Unrated
Nov. 14, 2012 - The territory should prepare now for a United States law that could rattle the Virgin Islands’ financial services sector and subject many belongers to more US taxes in the near future.The Foreign Account Tax Compliance Act — which was passed in 2009 and after extensive delays is now due to take effect Jan. 1, 2014 — will stiffen tax rules for non-resident US citizens.
Trinidad: Republic Bank Records $1.2b Profit
- By S Coward
- Published 09-Nov-12
- Banking/ Finance
- Unrated
Nov. 9, 2012 - Republic Bank Limited has recorded profit attributable to equity holders of $1.2 billion, for the financial year ended September 30. This represents a 3.3 per cent improvement on the corresponding 2011 period.
Trinidad: Central Bank Monetary Policy Report Oct. 2012
- By S Coward
- Published 06-Nov-12
- Banking/ Finance
- Unrated
Port-of-Spain - Nov. 6, 2012 - In Trinidad and Tobago, economic activity is still quite sluggish. Latest available data from the Bank’s Quarterly Index of Real Gross Domestic Product (GDP) indicate that economic activity contracted by 3.6 per cent (yearon-year) in the second quarter of 2012 (Chart Ic) mainly on account of prolonged maintenance work and security upgrades in the energy sector.
Turks & Caicos: New bank blames constitutional crisis in TCI for its closure
- By S Coward
- Published 15-Aug-12
- Banking/ Finance
- Unrated
Aug. 15, 2012 - Officials from International banking Group (IBG) said the “uncertainty that the constitutional crisis in the Turks & Caicos Islands generated” was one of the reasons why they were forced to close their bank in the Turks and Caicos Islands after a mere 25 months of operation.
Trinidad: Central Bank Annual Report 2011
- By S Coward
- Published 14-Aug-12
- Banking/ Finance
- Unrated
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Port-of-Spain -- Aug. 14, 2012 - Most indicators showed that the banking system remains strong, well-capitalized and profitable, although the stagnation in economic activity and rising unemployment have led to some deterioration in credit quality.
Barbados hosts biggest microenterprise forum in Latin America & Caribbean
- By S Coward
- Published 10-Aug-12
- Banking/ Finance
- Unrated
Aug. 10, 2012 - Barbados will host this year’s XV Inter-American Microenterprise Forum (Foromic 2012), the biggest annual microfinance and microenterprise development event in Latin America and the Caribbean. http://www.foromic2012.com/registro/registro_eng.php
Trinidad: Inflation Slows to 11% in June - Central Bank Maintains Repo Rate at 3%
- By S Coward
- Published 30-Jul-12
- Banking/ Finance
- Unrated
Port-of-Spain - July 30, 2012 -The latest data released by the Central Statistical Office indicate that there was a slight deceleration in the rate of inflation in the month of June. Headline inflation, measured by the 12-‐month increase in the Index of Retail Prices, slowed to 11.0 percent in June 2012 from 12.6 percent in May.
Barbados: Online Payment System Introduced for Land Tax
- By S Coward
- Published 19-Jul-12
- Banking/ Finance
- Unrated
July 19, 2012 - Effective Monday, July 23, persons desirous of paying their land tax bills will now be able to do so online.
Trinidad: Financial Stability Report, Central Bank, June 2012
- By S Coward
- Published 16-Jul-12
- Banking/ Finance
- Unrated
Port-of-Spain - July 16, 2012 - The economic environment in which financial institutions operated in Trinidad and Tobago in late 2011 into 2012 continued to be fairly sluggish.
BAICO Judicial Managers and ECCU Governments Sign Agreement
- By S Coward
- Published 04-Jul-12
- Banking/ Finance
- Unrated
July 4, 2012 - The Judicial Managers of British-American Insurance (BAICO) together with the Governments of the Eastern Caribbean announce the agreement to recapitalise and sell part of the BAICO business to Sagicor Life Inc.
Council recommends structure of PSIP to create employment, growth generating projects
- By S Coward
- Published 02-Jul-12
- Banking/ Finance
- Unrated
Basseterre - July 2, 2012 - Ministers of Finance of the Eastern Caribbean Currency Union have agreed to recommend that member governments contribute to the finalisation of the OECS Development Strategy and introduce the necessary institutional arrangements to ensure its implementation.
CCRIF Retains Sagicor as its Insurance Manager
- By S Coward
- Published 29-Jun-12
- Banking/ Finance
- Unrated
Grand Cayman, Cayman Islands, June 29, 2012 - The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is pleased to announce the retention of Sagicor Insurance Managers Ltd. (Sagicor) as insurance manager for the Facility for the next three years, commencing June 1, 2012.
Saint Lucia: PM Borrows 50 Million
- By S Coward
- Published 28-Jun-12
- Banking/ Finance
- Unrated
June 26th , 2012 - Prime Minister Dr Kenny D Anthony has received authorisation from the Parliament to borrow US$ 50 million in the form of a five-tranched Fixed Rate Note from ECFH Global Investment Solutions Limited.