April 6, 2016
FortisTCI Achieves ‘Investors in People’ Accreditation
FortisTCI Limited, recently achieved the internationally recognized Investor in People (IIP) Accreditation, demonstrating the Company’s commitment to high performance through good people management. This became official upon receipt of the…
April 1, 2016
Brazil Charges World’s Richest Banker With Tax Scheme
Brazilian prosecutors have charged Joseph Safra, the world’s richest banker, in connection with an alleged scheme to reduce or waive fines on back taxes. Prosecutors said in a statement Thursday that Safra knew about a 2014 plan by executives at…
March 17, 2016
BUDGET PRESENTATION for 2016/17 by the Minister of Finance
The Turks & Caicos Islands Government has began the presentation of the 2016/2017 budget for the Turks & Caicos Islands. The Minister Hon. C. Washington Missick lays out the plans for his Government in the attached document.…
March 16, 2016
Non-payment of taxes main weakness in region’s economies, says ECLAC
The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has called for measures to tackle nonpayment of taxes, cautioning in a just released report that tax evasion is one of the main weaknesses of the tax systems in the…
February 25, 2016
Turks and Caicos Financial Services Working Group Relaunched
Minister of Finance, Hon. Washington Misick today announced the re-launch of the TCI Financial Services Working Group. Comprising of senior government representatives, leading members of the private sector, and the CEO of Invest TCI. The Group has…
February 25, 2016
END OF UK LOAN GUARANTEE
The UK Minister of State for International Development, Mr Desmond Swayne, made the following written statement to the House of Commons of the British parliament on 25 February: “I wish to bring the House up to date with respect to the loan…
February 24, 2016
END OF THE UK LOAN GUARANTEE FOR TCI
The Turks and Caicos (TCI) Government repaid its $170m guaranteed bond, thereby completing the refinancing of its UK guaranteed debt, on Monday, 22 February 2016. The $170m bond was originally issued by the TCI Government in 2011 as part of the…
February 10, 2016
GraceKennedy Money Services Being Expanded Into Turks & Caicos Islands
GraceKennedy Money Services (GKMS) of the GraceKennedy Group and authorized agent of Western Union is expanding operations into the Turks and Caicos Islands. The new addition would bring GraceKennedy to serving as Western Union’s agent in 11…
February 9, 2016
Decreased Global Fuel Costs Bring Massive Electricity Savings
As world market prices for crude oil continue to fall, FortisTCI customers are receiving major savings passed on by the Company through monthly electricity bills. The fuel factor was at a peak in August 2014 at $0.2447 and has since declined 60% to…
February 9, 2016
Rocky Year Ahead for Nigeria Amid Oil Price Crash
The global fall in the price of oil has rattled the economies of many petroleum producers, and Africa’s oil king Nigeria is no exception, with analysts predicting a rough year ahead. The fortunes of Africa’s largest economy have long been…