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Yachting sector contributes EC$130M to the economy

ST.GEORGE’S, Grenada, CMC – The yachting sector has provided a significant boost to the economy, based on the results of a survey conducted between May 2012 and April 2013 . The survey revealed that the sector’s net contribution to Grenada was EC$130 million with repairs and maintenance is responsible for 25% of the amount. President of the Marine and Yachting Association (MAYAG), Anita Sutton said the study included three surveys – of yachts, business establishments who wholly or partially provide goods and services and individuals.

Government blasts opposition over hydro-electricity bills

GEORGETOWN, Guyana, CMC – Government is describing as a “travesty against the people of Guyana” a decision by opposition legislators not to support measures aimed at raising the guarantee limit of loans for the development of hydro-electricity in the country. Finance Minister Dr. Ashni Singh said that the passage of Hydro-Electric Power (Amendment) Bill as well as the accompanying motion to increase the guarantee limit of loans, from GUY$1 billion to $150 billion (One Guyana dollar = US$0.01 cents) was necessary to ensure the continued development of the country.

S&P sees negative outlook for island

BRIDGETOWN, Barbados - STANDARD & POOR’S (S&P) HAS REVISED Barbados economic outlook to negative from stable, while the agency is keeping the ‘BB+/B’ credit rating it assigned the country last year. In a release yesterday, S&P analyst Richard Francis said Barbados had slipped back into recession after a weak recovery between 2010 and 2012. But Francis warned that unless the country made quick adjustments to narrow the widening deficit, the country could face another downgrade.

T&T gets triple A rating

PORT OF SPAIN, Trinidad - Four consecutive quarters—one year—of economic growth for Trinidad and Tobago. This was disclosed by Finance Minister Larry Howai at yesterday’s post-Cabinet news briefing at the Prime Minister’s St Clair office. He also said Trinidad and Tobago had received a triple A rating from CariCris, the Caribbean credit ratings agency.

UN allocates funds for cholera response in Haiti

UNITED NATIONS, CMC - The United Nations says its emergency relief fund will allocate an additional US$1.5 million to the cholera response in Haiti at a time when cases are set to rise due to the rainy season.
“Cholera has claimed over 8,100 lives and infected over 660,000 people since the outbreak began in Haiti in 2010,” said the Operations Director of the UN Office for the Coordination of Humanitarian Affairs (UNOCHA), John Ging.
“It is vital that we do not allow more lives to be lost,” he added.

Twenty four countries to participate in CARIFESTA XI

GEORGETOWN, Guyana, CMC – Twenty four countries from across the region have confirmed their participation in the Caribbean Festival of Arts and Culture (CARIFESTA), scheduled to be held in Suriname, August 16- 25. This was disclosed by the Chairman of the Host Country Management Committee (HCMC), Ivan Graanoogst at a recent press conference held at the Headquarters of Carifesta XI in Paramaribo. He said Carifesta XI will not only take place in the capital, but across all ten districts in the country.

Jamaica’s very surprising call over CARICOM

BRIDGETOWN, Barbados - THIS IS UNDOUBTEDLY a most challenging period in global political and economic developments for some members of CARICOM. And a few leading Community partners seem to be wilting under mounting economic and social pressures, resulting in rather surprising political posturings. None more so than in the case of Jamaica.

Trying to understand ‘convergence’

GEORGETOWN, Guyana –  Prime Minister Kamla Persad-Bissessar’s reference, in her opening remarks at the recent meeting of CARICOM Heads in Port of Spain, to the view that “CARICOM, as it was originally envisioned, has reached its political, socio-economic and ideological limits,” may have its genesis in the thinking of her foreign minister, Winston Dookeran.

A nation of laws…

BRIDGETOWN, Barbados - “…in the wake of the verdict… passions may be running even higher.
But we are a nation of laws, and a jury has spoken…” – President Barack Obama

EDITORIAL - Repairing the brand and our psyche

KINGSTON, Jamaica - Karl Samuda, the opposition MP, with great clarity, summed up the impact of the recent spate of positive drug tests for leading Jamaican athletes on the global brand. The observation applies, too, to our collective psyche. "What has happened," Mr Samuda told his parliamentary colleagues, "is that the previously infallible nature of our athletics prowess has been assaulted. "That pride, that certain knowledge that we are the best, has been damaged; and if you damage that, which is essential to our country, you damage the brand," he said.

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