Markets

Former Barbados PM Owen Arthur: Caribbean Integration Essential

 Removing trade barriers is “essential” for the advancement of the Bahamian economy, former prime minister of Barbados, Owen Arthur, has said. “The Bahamas can play an integral role in the development of the Caribbean region and the economies of its …

Bahamas Looking to Capitalize on “Billion-Dollar” Shipwreck Industry

 The Bahamian government is looking to cash in on what, according to experts in Florida, could be a billion-dollar industry with an amendment to the country’s Abandoned Wreck Act. “We are being told it could be a billion-dollar industry if …

David Smith to Plead Guilty to $220M Fraud in Orlando Federal Court

 David Smith, who led the failed investment scheme OLINT, will plead guilty to 23 charges in Orlando federal court. Smith, who began OLINT in Jamaican until moving it to Turks and Caicos (where he pleaded guilty to fraud and conspiracy …

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 Cayman Premier McKeeva Bush Cayman Islands Premier McKeeva Bush led a Cayman delegation to meet with the United States Internal Revenue Service’s Deputy Commissioner, Michael Danilack, along with other senior officials to discuss implementation of the Foreign Account Tax Compliance …

 Trinidad and Tobago’s state-run National Gas Company has been tapped by the Ghana National Petroleum Corporation to supply energy for power plants in Ghana. “NGC is breaking new ground as it is the first state company to be extending its …

 Hampden Estate, which produces rum largely for the European market, has released a new overproof rum, “Rum Fire,” strictly for the domestic market in Jamaica. “Hampden has never come out with a local brand, and to get to this market …

 Minister of Finance Chris Sinckler If the unrest in the Middle East and North Africa continues, it could harm Caribbean economies, Barbados’ Minister of Finance, Chris Sinckler, has warned. “Our main assumption was that the main impact will be felt …

 Little Bay, Negril, Jamaica Selective Homes Limited has broken ground on a $12 million beachfront development in Negril, the Little Bay Country Club. The mixed-use project, which is targeted both at banking and tourism executives, along with second-home buyers, is …

 The Government of Barbados is moving to green its economy with the help of the United Nations Environment Programme. “My government continues to be committed to that vision and the emphasis at this point is to consolidate and elevate its …

 Jamaica’s FSC Senior Management Team Jamaica has been home to the high-profile OLINT issue, what some have dubbed the Caribbean’s version of the Bernard Madoff controversy. But according to the Jamaican Financial Services Commission, there are 64 unregulated investment schemes …

 The International Monetary Fund has sent a team to Antigua for a third review of the nation’s performance on a stand-by arrangement with the IMF. According to the Ministry of Finance, the IMF team began the review Monday and will …