March 7, 2014
LIAT Airlines cutting unprofitable routes
The regional airline, LIAT, says it will take “decisive action” to deal with unprofitable routes as the Antigua-based airline seeks to make its operations financially variable. “We have been trying, before going the harsh route, to persuade people…
March 1, 2014
US Economic Growth Slower Than First Thought
The U.S. economy grew more slowly than first thought in the last few months of 2013. Friday's report from the Commerce Department says the world's largest economy expanded at an annual rate of 2.4 percent in October, November and December. That is…
March 1, 2014
Fitch moves Jamaica’s credit rating up a few notches
International credit rating agency, Fitch, has upgraded Jamaica's credit rating after the country completed its debt exchange Thursday. The agency lifted Jamaica's long-term foreign currency issuer default ratings to triple-C, seven notches into…
March 1, 2014
Caribbean countries with fixed currencies should not entertain devaluation
Governor of the Central Bank of Barbados, Dr. Delisle Worrell is urging Caribbean countries with fixed currencies, not to entertain the thought of any devaluation as a means of restoring stability to their economies. Worrell told the Caribbean…
March 1, 2014
Citigroup profit hit by Mexican fraud
The US bank Citigroup has lowered its fourth-quarter and full-year earnings after discovering fraud in its Mexican subsidiary. The bank said that 2013 net income would be reduced to $13.7bn (£8.2bn) from $13.9bn. Citigroup said that it believed the…
March 1, 2014
Cyprus bailout hit as privatisation bill fails
International efforts to bail out Cyprus' debt-laden economy have been thrown into doubt after its parliament rejected a key part of the plan. As part of the 10bn-euro (£8.25bn; $13.7bn) deal with the EU and International Monetary Fund, lawmakers…
March 1, 2014
Chinatown denies unfair competition with Dominicans
A representative of Santo Domingo’s Chinese community on Friday denied that Chinese retailers on the busy Duarte Av. compete unfairly, as Dominican counterparts claim. Marino Joa said Dominican merchants acquire merchandise from the U.S. through…
March 1, 2014
LIME investing $30 million
To keep up with the speeds that people are requiring, LIME is investing, over this year and next, over $30 million locally to upgrade its system, according to LIME Cayman Islands CEO Bill McCabe in this weeks interview with CNS Business Video. The…
February 25, 2014
Caribbean can pool resources to cash-in on lucrative Chinese market
A world economist has suggested that the upswing in the global economy will filter down to the Caribbean. Dr. C. Fred Bergsten Director Emeritus of the Peterson Institute, an international Economic think thank - told the first ever Caribbean…
February 25, 2014
Profits at ‘China’s twitter’ surge
Profits at Sina Corp, owner of China's largest Twitter-like site Weibo, surged in the fourth quarter, boosted by a jump in advertising revenue. It reported a net profit of $44.5m (£26.7m) in the October-to-December period, up from $2.4m a year……