Month: April 2011

Bahamas Signs Deal on $48.5M Sports Centre Renovation

 The Bahamian government signed a $48.5 million contract with two local companies for what is dubbed as the Queen Elizabeth Sports Centre Redevelopment Project. The deal is part of the country’s broader strategy to capitalize on so-called “sports tourism” something …

Manatt Commission Set to Report May 16

 Lawyers in the Manatt-Dudus Commission of Enquiry in Jamaica made their final submissions yesterday as the commission prepares to present its report by the May 16 deadline. The report centers on two main questions — whether the extradition of Christopher …

Bahamas Petroleum Company to Begin Offshore Drilling in 2012

 The Bahamas Petroleum Company is planning on beginning drilling in 2012, according to BPC CEO Dr. Paul Crevello. “We are working towards a drilling well next year sometime,” Crevello said yesterday. “We know the government is working towards getting regulations …

LATEST NEWS

 Restrictions preventing foreign investment in restaurants and entertainment facilities have been lifted by Bahamian Prime Minister Hubert Ingraham, who also announced a new minimum dollar requirement for foreign direct investment. The prime minister attributed the changes to a series of …

 Eric Calais By the Caribbean Journal staff Minimizing the risk of future earthquakes must a focus of any Haitian development plans, according to Eric Calais, a seismologist with the United Nations Development Programme. “When the next earthquake hits Haiti we …

 There was a nearly double-digit increase in the number of cruise ship arrivals to Jamaica during the winter, according to Minister of Tourism Edmund Bartlett. “The stage is now set for yet another remarkable year of performance in terms of …

 Parliament, Port-of-Spain Trinidad’s government approved amendments to its Financial Intelligence Bill yesterday in a unanimous vote in the House of Representatives. The vote followed what had been a heated debate. Trinidad had faced being blacklisted because of non-implementation of the …

 Haitian President-Elect Michel Martelly is heading to the United States for talks with U.S. Secretary of State Hillary Clinton and World Bank and IMF officials. According to a statement, Martelly will be discussing “job creation, education, security, reconstruction and health.” …

 Billionaire mogul Richard Branson plans to create a lemur habitat on an undeveloped island he owns, Moskito Island. The animals are disappearing from their native African habitat, and Branson plans on bringing the first group of 30 lemurs to the …

 Jamaican Tony Ashman, who was slated to be extradited from Jamaica to England to face a murder charge, has been detained for more than 60 days without being extradited. Now, pressure in the country, led by the opposition People’s National …

 An earthquake measuring 4.4 on the Richter Scale occurred 50 miles off the coast of Bermuda today, and was felt in businesses in Hamilton, along with residential households in Warwick. According to Mark Guishard of the Bermuda Weather Service, there …

 Four Seasons Residences, Clearwater Bay, Barbados A slew of new projects in Barbados, including at Four Seasons, Beachlands, Cost-U-Less and Fort Ferdinand, could mean a big boost in foreign investment in Barbados, according to Minister of Finance Chris Sinckler. “People …

 Looking to take advantage of the vast number of shipwrecks in Bahamian waters, a $3 million joint venture could mean a priceless-artifact museum in Grand Bahama. “The clock is ticking at the moment,” said Thomas Dean, the attorney representing the …

 Tim Peck is the chairman of design firm OBMI and is the company’s former CEO for the Caribbean region. OBMI has long been a major player in the region, in master planning, resort design and development consulting. Peck, who makes …

 Barbados’s Board of Tourism is looking to capitalize on international music star Rihanna’s Bajan heritage, with the board’s new chairman, Adrian Elcock, saying a Barbados appearance by the singer must happen on his watch. “We have to have a relationship …

 Caymanian legislators passed three laws yesterday aimed at bringing financial services in the Cayman Islands in line with international standards. The three laws were the Companies (Amendemnt) Bill 2011 and two companion bills — the Securities (Amendment) Bill and the …

 If Jamaica can reduce its crime rate to the level of Costa Rica, it could see a 5.4 percent increase in gross domestic product, according to the World Bank’s World Development Report for 2011. “Indirect costs — associated with stress …

 Andy Armstrong, president of the Barbados Chamber of Commerce Following the Bahamas’ lead in looking to Canada for investment opportunity, the Barbados Chamber of Commerce and Industry signed a Memorandum of Understanding yesterday with the Chamber of Commerce of the …