November 20, 2011
EU settles for 2% budget increase
The European Union has been forced to accept a 2% rise in its budget next year - much less than the increase it wanted of around 5%. Several EU governments, including the UK, had argued the demands by the European Parliament and Commission were…
November 20, 2011
ECB’s Draghi urges swift action on bailout fund
The new governor of the European Central Bank (ECB), Mario Draghi, has called for "urgent action" to implement the new eurozone bailout fund. His comments come as the Italian parliament gave its approval to the new government led by economist…
November 20, 2011
Budget wars: Cut, cut and cut some more
On election night in 2010, Republicans were united by one mission: Cutting government spending now. "I'm here to tell you tonight that our new majority is prepared to do things differently," then Minority Leader John Boehner told an election night…
November 20, 2011
Oil price ends below US$98
Oil prices dropped below US$98 per barrel to the end a volatile week that mixed jitters about Europe’s debt with the prospect of tighter oil supplies and improving economic conditions in the US. The price of oil ended the week lower than it…
November 20, 2011
Clico commission resumes hearings next January
As sole Clico commissioner Sir Anthony Colman endeavours to maintain the timeline he set himself for the conclusion of his commission, he announced yesterday that he was scheduling four evidential hearings in 2012. The commission, which ended its…
November 18, 2011
Greek budget will ‘cut deficit’ by 2012
The new Greek government has submitted its plans for next year's budget, promising to almost halve the deficit. Finance Minister Evangelos Venizelos predicted the deficit would fall from 9% of GDP this year to 5.4% in 2012 due to a write-off of debt…
November 18, 2011
Boeing sets record with $22 billion order
Emirates Airlines' position as the biggest all-time orderer of Boeing jets lasted all of four days. Boeing announced Thursday that Indonesia's Lion Air has set a record with a nearly $22 billion order of jets. The U.S. company had previously counted…
November 18, 2011
US reviving tariff on Caribbean travellers
CARIBBEAN, Canadian and Mexican travellers will now have to pay a US$5.50 tax if they enter the United States by air or sea. A US-Colombia free trade deal, passed last month, includes a clause that removes an exemption from the tariff for travellers…
November 18, 2011
Bahamas sees 40 per cent hike in visitor arrivals from Latin America
THE Bahamas saw a 40 per cent hike in visitor arrivals from Latin America for June and July, with Copa Airlines' four-weekly flights behind 98 per cent of the increase, according to statistics out of its Ministry of Tourism. Copa's Vice-President…
November 18, 2011
St Lucia, Royal Caribbean ink port deal
The St Lucia government Tuesday signed a multimillion-dollar agreement with the United States-based Royal Caribbean International to develop Port Castries into a cruise-ship destination in the southern Caribbean. The Saint Lucia Air and Sea Port…