Business

January 27, 2011

Microcredit in Bangladesh ‘helped 10 million’

Microcredit lifted 10 million Bangladeshis out of poverty between 1990 and 2008, according to a report. The work of Grameen Bank and others helped many families to raise their income above $1.25 a day, said the US-based Microcredit Summit Campaign.…

January 27, 2011

Credit Unions hard hit by economic downturn

The current economic environment is taking a serious toll on credit unions as more members face lay-offs and find it difficult to pay their loans on time. This was revealed by Central Bank Governor Ewart Williams, during yesterday’s launch of…

January 27, 2011

St Kitts-Nevis Development Bank committed to funding small and medium projects

When the European Investment Bank extended a new line of credit to the tune of US$8 million to the Development Bank of Saint Kitts and Nevis last December, its official observed that the local bank not only commands a leading position and…

January 27, 2011

US to offer amnesty for Caribbean offshore account-holders

The United States said it plans to announce a new amnesty programme aimed at encouraging wealthy Americans with hidden offshore bank accounts in the Caribbean and elsewhere to come forward, declare the funds and pay the necessary taxes.…

January 24, 2011

Rebuilding Haiti’s economy

A long-term, sustainable recovery in Haiti can't take place without job creation. Investing in reviving Haiti's…

January 24, 2011

Facebook raises $1.5 billion

Confirming reports that have swirled for weeks, Facebook said Friday that it has raised $1.5 billion from Goldman Sachs and Digital Sky Technologies. The investment gives the company a valuation of approximately $50 billion. The company also…

January 21, 2011

Gold company to invest US$185mto expand Suriname operations

The Toronto-based parent company of Lam-gold, the largest gold-mining enterprise operating in Suriname, says a…

January 20, 2011

China’s economy grew 10.3% in 2010

China's gross domestic product (GDP) grew a faster-than-expected 10.3% in 2010, official statistics…

January 19, 2011

Apple sets new record with sales of $27 billion

Apple reported results on Tuesday for its best-ever quarter, with revenue of $26.7 billion driven by…

January 19, 2011

Bank calls in the receivers to Newstead Belmont

Newstead Belmont Hills Golf Resort went into receivership yesterday after Butterfield Bank recalled a multi-million dollar loan. The luxury Paget property will continue to run, although receivers Ernst and Young have not ruled out selling some,…