Month: March 2011

March 16, 2011

Heated debate forces early adjournment of extradition enquiry in Jamaica

Heated argument among the attorneys present forced the chairman of the Commission of Enquiry looking into the extradition of Christopher ‘Dudus’ Coke to adjourn Tuesday's session prematurely. Attorney general and minister of justice, Dorothy…

March 16, 2011

Bahamas fiscal deficit deepens 22 percent to $216m

The first half of fiscal year 2010/2011 showed a $38.9 million increase in the Bahamas government’s deficit, expanding 22 percent to $215.9 million year-over-year. According to the Central Bank of The Bahamas’ January Monthly Economic and…

March 16, 2011

Labour Ministry Completes ILO Recommendations On Tornado Safety

On March 29, 2010 a tornado struck the Container Port in the Bahamas killing three people and injuring several others. Through the Department of Labour, Mr. Foulkes said the government commissioned an ILO expert to investigate and suggest what…

March 16, 2011

UK air passenger tax discriminatory, says CARICOM acting secretary general

In a first ever Caribbean Tourism Summit held in Europe, CARICOM acting secretary-general Lolita Applewhaite laid out the region’s case against the UK’s Air Passenger Duty (APD) on outgoing flights and other increases to aviation taxation. “We…

March 16, 2011

Oil Prices Drop on Fears for Japan’s Economy

World oil prices are dropping because of fears the earthquake and…

March 16, 2011

Portugal hit by debt downgrade from ratings agenc

International ratings agency Moody's has downgraded Portugal's sovereign debt rating, citing the country's need to cut debt and its poor growth prospects. Meanwhile Portugal's main opposition party has announced it will oppose the government's…

March 16, 2011

Japan’s Nikkei 225 rebounds as economic concerns ease

Japanese stocks rebounded as concerns over the long-term impact of Friday's earthquake and tsunami on Japan's economy ease. The Nikkei 225 index gained 4.3% by midday Wednesday. On Monday and Tuesday, the index dropped more than 16%, its biggest…

March 16, 2011

The BOJ injects $43bn to shore up the financial markets

The Bank of Japan has pumped an extra 3.5 trillion yen ($43bn; £27bn) into the financial markets on Wednesday. The injection comes after the central bank announced a cash input of 23tn yen ($284bn) on Monday and Tuesday. The Bank of Japan has been…

March 16, 2011

Cuba devalues currency to match US dollar

Cuba is devaluing its currency by about 8% compared to the US dollar as part of efforts to revive the economy. The hard-currency convertible peso used mostly by tourists and foreign firms will now be on a par with the dollar. The central bank said…

March 16, 2011

Official: Remaining Workers Evacuated From Stricken Nuclear Plant

Japanese officials have suspended operations aimed at preventing a stricken…