March 13, 2015
US stocks fall on dollar’s strength
US shares ended the week lower, despite a small recovery on Thursday, as investors fretted over falling oil prices and a strong US dollar. At the end of trading on Friday, the Dow Jones was down 146 points - or 0.8% - at 17,749.57, while the S&P…
March 3, 2015
Bill Gates still world’s richest man, Forbes says
Billionaire philanthropist Bill Gates kept his spot as the world’s richest man, a rank he has held for 16 of the past 21 years, Forbes magazine said Monday. The Microsoft co-founder’s fortune increased $3.2 billion since last year to $79.2 billion,…
March 2, 2015
THE UK HAS APPROVED THE TURKS & CAICOS ISLANDS’ 2015-16 BUDGET
The Turks and Caicos and UK governments have agreed the Territory’s 2015-16 budget, it was announced today, Monday, 2 March 2015. The budgeted expenditure of US$224.7m is a 9% increase on the previous year, and proposes tax cuts, significant…
March 1, 2015
US Economic Growth Slower Than First Thought
U.S. economic growth was slower than first thought in the last few months of 2014. Friday's report from the Commerce Department says the gross domestic product expanded at a 2.2 percent annual rate in the fourth quarter. That is a bit slower than a…
February 26, 2015
RBS reports £3.5bn loss for 2014
UK state-owned bank RBS has reported a loss of £3.5bn for 2014, down from a £9bn loss the previous year. The results were hit by a £4bn writedown on the sale of its US business, Citizens. The bank's chief executive Ross McEwan confirmed he would not…
February 26, 2015
Ghana secures $1bn IMF loan in bid to revive economy
Ghana has struck a deal with the International Monetary Fund aimed at stabilising its troubled economy. The three-year deal follows months of talks prompted by the government's failure to meet targets on inflation, the budget deficit and growth. The…
February 18, 2015
New initiative funded by the FSC assists banks
The Turks and Caicos financial Services Commission (FSC) today announced that a recently set up Committee, made of representatives from all TCI licensed banks and chaired by the Commission, will be meeting tomorrow Tuesday February 17th, 2015.…
February 18, 2015
Grenada Gets $1.6 Million Grant from Germany for Green Energy
Germany’s government has agreed to provide just under $1.6 million in funding to support reforms in Grenada’s energy sector. The funding from Germany’s Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety is for a…
February 17, 2015
Greece is set to request a loan extension, reports say
Greece is expected to request a six-month extension of its loan agreement on Wednesday, according to reports. The loan would not be an extension of the current bailout agreement, which includes strict austerity measures, Greek government officials…
February 16, 2015
US178.3M SURPLUS A REFLECTION OF TOURISM PARTNERS’ MARKETING EFFORTS
The Dr. Rufus Ewing led administration recently announced its achievement of US$178.3M for the first three quarters, and the Turks and Caicos Hotel and Tourism Association – TCHTA – is commending the administration for a job well done in achieving…