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…
February 16, 2015
Global dividend income hits new record of $1.167 trillion
The total dividend income paid to shareholders around the world rose by 11% last year to $1.167 trillion, according to investment firm Henderson Global Investors. The biggest increase in cash payouts came from US firms at $52bn. Henderson said…
February 10, 2015
Lime to pay millions to Digicel for wrongly withholding money
Telecommunication company LIME is to pay more than J$1.5 billion (One Jamaica dollar =US$0.0087 cents) to Digicel (Jamaica) Limited for wrongly withholding money due for calls from LIME’s fixed-line customers to Digicel mobile phones,” the Jamaica…