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……
February 25, 2014
LinkedIn testing Chinese language site
Professional networking service LinkedIn has launched a beta or test version of its Chinese language site. The firm said the move is aimed at offering a more localised service to its users in China. It is expected to boost LinkedIn's growth in…
February 25, 2014
Walt Disney World increases prices at its theme parks
Disney has raised the price of a one-day ticket to its Magic Kingdom theme park in Orlando, Florida by $4 to $99 (£59.50). Magic Kingdom is the world's most visited theme park, with more than 17 million visitors in 2012. Ticket prices at other…
February 25, 2014
Netflix agrees Comcast streaming deal
Netflix has agreed a deal with Comcast, the biggest internet service provider in the US, that will see its videos streamed faster and more smoothly. The multi-year deal will see Netflix servers connected directly to Comcast's network, removing…