January 1, 2014
Hewlett-Packard and Revlon job cuts announced
Computer maker Hewlett-Packard and cosmetic firm Revlon have both announced end of year job cuts of thousands of workers. In a filing with US regulators, HP said it would cut 5,000 more jobs than planned. The firm now says it will eliminate 34,000…
January 1, 2014
Latvia split over eurozone entry
On 1 January Latvia will become the 18th country to adopt the euro - a move welcomed by most of the business community. The owner of Valmiermuiza brewery, Aigars Rungis, says the euro will give his business an extra boost: "It will give us more…
December 25, 2013
France ‘to avoid double-dip recession’
France will avoid a recession this year, according to the country's statistics body. INSEE said the economy will grow 0.4% in the last three months of the year, after contracting 0.1% in the third quarter. President Francois Hollande has been under…
December 25, 2013
DIGICEL ACQUIRES SUBMARINE FIBRE ASSETS ACROSS THE CARIBBEAN REGION
Digicel today announced that it has reached an agreement with the Guadeloupe-based Loret Group and with Caribbean Fibre Holdings to acquire a submarine fibre network across the Caribbean region. Digicel will acquire Middle Caribbean Network,…
December 24, 2013
Cuba to eliminate currency pegged to US dollar
The Cuban Convertible Peso (CUC) will be eliminated in the process to reestablish a one-currency system on the island, confirmed VP Marino Murillo, during a plenary session of the Cuban Parliament on Friday. Tourists currently use a convertible peso…
December 24, 2013
St. Lucia in top ten wealthy Caribbean nations based on Gross National Income
The World Bank has named Saint Lucia among the top ten wealthy Caribbean nations based on Gross National Income (GNI). St. Lucia was ranked seventh with a GNI of $6,530. In its 2014 World Development Report, the World Bank used the GNI to measure…
December 24, 2013
Richard Branson request Boycott of Uganda over gay rights
UK business tycoon Richard Branson has called on companies and tourists to boycott Uganda after its parliament approved a bill to toughen the punishment for homosexual acts. It was against his conscience to support a country which carried out a…
December 20, 2013
Blackberry and Foxconn agree a five-year deal
Struggling smartphone maker Blackberry has agreed a five-year deal with Foxconn, the big Taiwan-based maker of electronic products and components. The two companies will initially work on the development of a new smartphone. Blackberry also…
December 20, 2013
France takes Bermuda off tax blacklist
France has removed Bermuda from its tax blacklist, Finance Minister Bob Richards said today. The move came after high-level talks between French officials and Finance Ministry staff. Mr Richards said: “I was impressed by the goodwill shown by…
December 20, 2013
Trade between the DR & Haiti: US$1.1B formal; US$900.0M informal
Dominican Republic’s and trade with Haiti of around US$2.0 billion per year is split nearly evenly at US$1.1 billion formal and US$900.0 million informal, Industry and Commerce minister Jose del Castillo revealed Thursday. Speaking at a luncheon…