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…
January 27, 2016
DIGICEL PAYS CUSTOMERS’ BILLS FOR A YEAR
Digicel, in its continued effort to keeping families connected in the diaspora, has launched its latest best value promotion this tax season called, 'Bills on Us'. 'Bills on Us' means that when customers in the USA, UK or Canada send top up to…
January 14, 2016
TURKS AND CAICOS GOVERNMENT SIGNS $28M LOAN TO REFINANCE
The Turks and Caicos (TCI) Government yesterday, Wednesday, 13 January 2016, signed a new $28m loan agreement with the Royal Bank of Canada. The balance of the $170m UK guaranteed bond will be repaid from the sinking fund and other TCI Government…
January 13, 2016
Oil price slide may force new Russian budget
Tumbling oil prices could force Russia to revise its 2016 budget, Prime Minister Dmitry Medvedev has warned. He said that the country must be prepared for a "worst-case" economic scenario if the price continued to fall. Oil was trading at less than…
January 6, 2016
Oil price falls below $35 a barrel to fresh 11-year low
Oil has continued its rollercoaster ride into the new year, with Brent crude falling below $35 a barrel for the first time in 11 years. Brent crude sank by 4.2% to $34.88 a barrel, surpassing its late December fall, and taking the price to its…
January 6, 2016
Eurozone growth hits four-month high in December
Growth in the eurozone economy rose to a four-month high in December, the closely watched purchasing managers' index survey suggests. The final reading of the Purchasing Managers' composite index (PMI) for December, which combines manufacturing and…