June 6, 2012
DIGICEL GROUP LIMITED announces strong financial results US$1.1 billion EBITDA for the year ended 31 march 2012
Digicel Group Ltd, the best value mobile operator, today announced a strong set of financial results for the year ended 31 March 2012. With subscribers up 27% to 12.8 million and revenues for Digicel Group Limited (which comprises 30 markets in…
June 3, 2012
Weak US job figures for May hit markets
Stock markets have fallen following worse-than-expected US job figures. The Dow Jones closed down 275 points, or 2.2%, while in Frankfurt the Dax was down 3.4%, in Paris the Cac 40 fell 2.2% and London's FTSE 100 lost 1.1%. The US economy added…
June 3, 2012
Barbados Senator says adjustment will aid economy
SENATOR Andre Worrell has lauded the adjustment made and acknowledged the benefits accrued to the economy from the increase of the Value Added Tax in Barbados, during challenging economic times. He added his contribution to the debate on…
June 3, 2012
Eurozone unemployment rate sticks at 11%
Unemployment in the eurozone was 11% in April, unchanged from March, but still the highest since records began in 1995. Spain had the highest rate in the eurozone at 24.3%, while Austria had the lowest at 3.9%, according to the official figures…
June 3, 2012
BP plans to sell stake in TNK-BP
BP has announced that it is going to try to sell its stake in the TNK-BP Russian oil joint venture. In a short statement, the oil company said it had received “unsolicited indications of interest” in acquiring its shares. BP has informed the…
June 3, 2012
Spain’s manufacturing sector sees contraction worsen
The rate of contraction in Spain's manufacturing sector was worse than that of Greece in May, according to a business survey. Markit's eurozone manufacturing purchasing managers' index for the whole eurozone dropped to 45.1 from 45.9 in April. Any…
June 1, 2012
Spain denies ‘senseless’ IMF bailout rumours
Spain's economy minister has dismissed talk of it seeking a bailout from the International Monetary Fund (IMF) as "senseless". And the IMF denied that Spain had asked to discuss rescue loans. The IMF has contributed to bailouts of all the other…
June 1, 2012
US economic growth slower than thought in first quarter
The US economy grew at an annualised 1.9% in the first three months of 2012, less than the 2.2% first thought. The slower growth rate - which was in line with forecasts - followed a modest downward revision in consumer spending. A rise in the growth…
June 1, 2012
British Chambers of Commerce cuts growth forecast
The British Chambers of Commerce (BCC) has slashed its forecast for economic growth this year, from 0.6% to 0.1%. But the group, which represents more than 100,000 businesses, raised its forecast for 2013 from 1.8% to 1.9%. The data, in the BCC's…
May 31, 2012
Eurozone: ECB says no countries ready to join
The European Central Bank (ECB) has said that none of the eight countries that are supposed to join the euro are ready yet. The verdict comes amid growing fears over the future of the currency itself amid the worst crisis it has faced. It said…