Markets

Fugro to Perform Bahamas Oil Survey

 Global oil services firm Fugro will perform a high-resolution seabed survey of the licence areas belonging to the Bahamas Petroleum Company. The company has already performed a two-dimensional seismic program of its licences, which cover 15,676 square kilometers. “We are …

Jamaican Economy to Grow 1 to 2 Percent

 The Jamaican economy could grow between 1 and 2 percent his year, according to the Bank of Jamaica. The growth will be driven by extensions in agriculture, mining and quarrying, along with hotels and restaurants. “The Jamaican economy has started …

Jamaica to Enter Medical Tourism Market

 Reginald Budhan, permanent secretary of the Ministry of Industry, Investment and Commerce Jamaica intends to enter the multibillion-dollar medical tourism market, although at this time it lacks the required facilities to do so. One investor, however, the Hospiten Group, is …

LATEST NEWS

 Guyana, the largest sugar exporter in the Caribbean, will receive just under $27 million in aid from the European Union to help improve production in the country. The E.U. had previously chosen to cut import prices for raw sugar by …

 By the Caribbean Journal staff The Bahamas Petroleum Company, which has offshore license permits in the Bahamas, said it had found structures similar to the so-called supergiant structures of the Gulf of Mexico and the Middle East. “What is most …

 Eximbank China’s Export-Import Bank has plans to launch a $1 billion fund to invest in Latin America and the Caribbean, following several years of significant spending in the region. In 2009, China invested $7 billion in the region through private …

 BHP Billiton has begun drilling gas at its Agostura Project off the coast of Trinidad and Tobago. According to CEO Michael Yeager, the platform has a design capacity of 280 million cubic feet of gas per day. BHP has a …

 By the Caribbean Journal staff Eleven counsellors of the Inter-American Development Bank are in Barbados looking at local projects funded by the bank. Representatives of the bank, which last week warned that the region was in danger of significant effects …

 ECLAC headquarters in Santiago, Chile By the Caribbean Journal staff A report released yesterday showed Latin America with a larger increase in foreign direct investment than any other region last year, but the Caribbean did not fare as well, according …

 A geothermal well in Nevis Caribbean geothermal developer West Indies Power Holdings has announced plans for an 8.5-megawatt project in Nevis. The project will be funded with a $55 million loan from the Export-Import Bank of the United States. Nevis’ …

 Ghana’s Energy Minister Dr. Joe Oteng-Adjei and Trinidad’s Minister of Energy Carolyn Seepersad-Bachan By the Caribbean Journal staff Following an agreement that would see Trinidad supply energy for power plants in Ghana, Trinidad and Tobago’s Minister of Energy and Energy …

 Swiss Bundeshaus The Swiss government has moved a court for authorization to seize millions that once belonged to former Haitian dictator Jean-Claude “Baby Doc” Duvalier, 25 years after the funds were first frozen. If the government is successful, the government …

 By the Caribbean Journal staff Caribbean nations need to protect their urban poor as rising international food prices trigger an acceleration of inflation, according to a report from the Inter-American Development Bank. According to the report, “How will the Food …

 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 …

 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 …

 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 …

 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 …

 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 …

 

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