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Hovensa Closure on USVI: V.I. revenue loss through closure estimated at $60M

St. Croix - Jan. 22, 2012 - As the V.I. government grapples with declining government revenues, an estimated $67.5 million budget deficit and its own set of layoffs, one fear is that the repercussions of HOVENSA's closure will deepen the local recession by cutting off a large segment of government revenue from the refinery and its employees.

Bermuda: Pre-Budget Report in Advance of Fiscal Year 2012-2013

During the first nine months of 2011, there was a 6.3% increase in the number of visitors to the island. Over the first three quarters of 2011, visitor air arrivals increased by 3.3% while the number of cruise visitors grew by 8.7%. The growth in air visitors over the first nine months of 2011 was the first increase over the corresponding period of a calendar year since 2007.

Barbados Economic Review 2011

Bridgetown - Jan. 5, 2012 - The Central Bank of Barbados (CBB) has published the final Economic Review for 2011 and in it the island’s main foreign exchange earner, tourism, is featured. The first article, A Note on Tourism Expenditure, details the trends in visitor spending and highlights the impact of the global recession on spending by visitors from the United Kingdom – the island’s largest source market.

Trinidad: 20,000 Hot Spot Jobs

Port-of-Spain -- Nov. 10, 2011 - The Kamla Persad-Bissessar administration is taking the bull by its horns in the fight against crime and would target youth in "hotspot" areas, low-income communities and Housing Development Corporation (HDC) estates for 20,000 new jobs, at a cost of $300 million.

ECLAC: Foreign Direct Investment Rises by 54% in the First Half of 2011 in the Region


Oct. 26, 2011 - During the first semester of 2011, foreign direct investment (FDI) in Latin America and the Caribbean showed significant growth, maintaining the trend observed since 2010, stated the Economic Commission for Latin America and the Caribbean (ECLAC)

Grenada fears Taiwan's effort to collect $28M debt

St Georges's, Grenada (AP) — Oct. 26, 2011 - The government of Grenada is warning that Taiwan's aggressive effort to collect a $28 million judgment will hurt the tourism-dependent economy of the Caribbean island.

Real growth in the ECCU for 2011 revised downwards


Basseterre - Oct. 24, 2011 -- The economic growth outlook for the Eastern Caribbean Currency Union (ECCU), has been revised downwards, with real growth for 2011 now projected at 0.4 per cent.

 

Korea’s commitment to Latin America and the Caribbean goes beyond trade and investment

Oct. 18, 2011 - South Korea, which is hosting the Korea-LAC Business Forum on Oct. 20–21, is a fast-growing trade and investment partner for the 26 countries located in Latin America and the Caribbean (LAC). Its relationship with the region goes far beyond commerce, however: Korea is the second-largest Asian contributor of overseas development assistance to LAC after Japan.

Trinidad: $3,000 Pension~ Benefits for retirees, homeowners, disabled

Port-of-Spain -- Oct. 11, 2011 -- People who receive National Insurance pensions, prospective homeowners, the disabled and national security officers are the big winners in Finance Minister Winston Dookeran's $54.6 billion budget which was presented in the new Waterfront Parliament yesterday.

Light & Power Holdings Ltd. to acquire Emera Caribbean Limited's Interest in St. Lucia Electricity Services

Halifax Nova Scotia & Bridgetown, Barbados -- Oct. 4, 2011--  Emera Inc. (TSX: EMA) announced today that its wholly-owned subsidiary Emera Caribbean Limited has agreed to sell its 19.1% indirect interest in St. Lucia Electricity Services Ltd (LUCELEC) to Light & Power Holdings Ltd. (LPH), also an Emera Inc. subsidiary, for US $25.8 million.



New Marketing Model - Zero Moment of Truth



Jamaica: World Bank Support to Improve Public Spending, Tax System


Washington-- Sept. 9, 2011—The World Bank Board of Directors approved yesterday a US$100 million loan for Jamaica to support the government's reform program to enhance fiscal and debt sustainability.

Barbados: Budget Presentation 2011

Mr. Speaker Sir, it is with a chastened outlook yet calmed assurance that I rise to deliver to this Honourable House the Financial Statement  and Budgetary Proposal for 2011. I am chastened Sir, not only by the enormity of the task that confronts me as Minister of Finance and Economic Affairs, as it does the entire Government and people of Barbados, but equally as well by the massive responsibility which has been imposed on us to safely navigate our country through this most challenging period in the country’s history.

Statement at the Conclusion of the IMF Mission to Montserrat

July 20, 2011 - Montserrat has a number of promising opportunities to enhance its growth prospects.

ECLAC: Latin American and Caribbean Growth Will Be 4.7% in 2011

July 14, 2011 - According to an ECLAC report, in 2011 Latin America and the Caribbean will maintain the recovery that began in the second half of 2009 following the international economic crisis, and will grow by 4.7% thanks to the boost of internal demand.

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