January 19, 2024
CDB President sent on administrative leave until April
The President of the Barbados-based Caribbean Development Bank (CDB), Dr Hyginus ‘Gene’ Leon, has been sent on administrative leave until April this year, as “an ongoing administrative process” continues at the region’s premier financial…
January 18, 2024
Guyana saves millions of dollars since the country embarked on oil production
The government of Guyana has reportedly saved millions of dollars since the country embarked on oil production in 2020. After the government’s total withdrawals of US$1.002 billion in 2023 from the Natural Resource Fund (NRF) based on the legally…
January 15, 2024
IDB governors to meet in Dominican Republic
Development challenges and opportunities in Latin America and the Caribbean (LAC), ranging from tackling climate change to ensuring equitable and sustainable growth, and reducing poverty and inequality will be among the issues discussed when the…
January 10, 2024
Cryptocurrency swings as watchdog X account ‘compromised’
Bitcoin jumped briefly on Tuesday after a post on the US markets regulator's X account (formerly Twitter) said it had approved new so-called exchange-traded funds (ETFs) in the cryptocurrency. The Securities and Exchange Commission (SEC) later…
January 9, 2024
Global economy set for weakest growth since pandemic
The global economy is set to grow at its slowest pace since the pandemic, the World Bank has warned. It has forecast growth of just 2.4% in 2024 and stated higher interest rates were a major factor. Global trade and investment would continue to be…
December 20, 2023
Opposition legislators boycott budget debate
Opposition legislators Tuesday boycotted the first day of the debate on the EC$1.3 billion (One EC dollar=US$0.37 cents) budget Prime Minister Gaston Browne delivered to Parliament last Friday, insisting that there was not enough time to adequately…
December 13, 2023
Jamaica to earn in excess of four billion US dollars from tourism sector
Tourism Minister Edmund Bartlett says Jamaica is expecting to earn more than four billion US dollars this year as the island welcomes a record number of visitors this year. He estimates that the total number of arrivals to be 4,122,100 arrivals…
December 5, 2023
Spotify to axe 1,500 workers to cut costs
Swedish music-streaming giant Spotify has announced it is cutting 17% of its workforce, about 1,500 jobs, as the company seeks to clamp down on costs. Chief executive Daniel Ek said he had made the "difficult" decision with economic growth slowing…
December 4, 2023
Energy & Utilities Commissioner says new legislation will help to stabilise energy costs in Turks & Caicos Islands
The Energy and Utilities Department (EUD) of the Turks and Caicos Islands, today reminds the public that the comprehensive Renewable Energy Legislation is currently before the House of Assembly and that the Legislation not only addresses the…
December 2, 2023
Bahamian Government and opposition differ on latest IMF report
The Bahamas government has described as a “massive revision” a statement by the International Monetary Fund (IMF) that the country’s economy is projected to grow by 2.3 percent over its previous forecast. “Previously they were estimating 1.8 per…