Back Caribbean

Caribbean

Trinidad and Tobago will export gas to Panama

17 May 2012

Newsroom Staff

alt

Panama plays an important role in the Caribbean economy

By Sharon Brown

During the Caribbean Investment Forum, the president of Panama, Ricardo Martinelli keynote speaker highlighted the important role Panama plays in the commercial world by sea, air and port connectivity and investment opportunities that make the country a trading and logistics platform for other Caribbean countries.

Martinelli emphasized the opportunities that the country can use as butane gas imports from Trinidad and Tobago through intermediaries. The president added: Panama paid $ 98 million a year in subsidies for cooking gas, we will eliminate middlemen and the state should buy directly so we can take down the costs of the subsidy.

Panama also uses intermediates in the imports of asphalt from Trinidad and Tobago and is a goal to eliminate them to reduce the cost of building roads. We reiterate that the presence of Panama in this event is a sample of the commercial interests of our country to the Caribbean region, the president added.

Alberto Alemán Zubieta, the Panama Canal administrator, during the forum also discussed the development of the expansion of the water way and the positive impact that will result in higher exports from the Caribbean countries who use the Canal.

Trinidad and Tobago currently has signed an energy agreement with Panama that will allow the supply of butane gas, diesel and gasoline. It has also started negotiations on the initiation of a partial scope trade agreement and an agreement on services and investments.

The event was also attended by the Ambassador of Panama in Trinidad and Tobago, Arline Gonzalez and Foreign Trade Vice Minister Jose Pacheco.

10% of Jamaica’s GDP is directed to pay the interest on its debt

11 May 2012

Newsroom Staff

alt

Half of the state budget goes to its sureties

By Rachel Johnson

The Center for Economic and Policy Research issued a statement on the economy of Jamaica specifying that during 2011 were paid approximately $ 1.400 million in interest on debts of the country, almost 10% of its GDP. This represents slightly more than double of what was spent on capital programs.

Mark Weisbrot, economist and co-director of the center, said they have the highest percentage globally, even greater than the crisis countries of the Eurozone. For several years the Government has spent half of its budget to cover debt payments, which has cost the reduction of funds for infrastructure, hospitals and schools.

The report published by the center describes: The excessively high burden of interest payments will continue moving public investments that are necessary to restore normal growth and reduce high levels of unemployment and poverty.

For decades, the Jamaican economy has been unstable. The center found that after three years of decline, in 2011 the economy grew by 1.5%, but still remains below its level of GDP in 2008. Their total debt until last year reached 130% of GDP.

The root of the Jamaican government debt was caused by bad bank loans that the government had to overcome due to a crisis in the mid-nineties, when several banks collapsed in consequence of many emergency loans.

In 2010 the debt of the nation and the impact of global recession, pushed the state to require the protection of the International Monetary Fund, who provided a loan of 1,270 million dollars and assisted the country to restructure its debt.

EU supports joint growth of Haiti and the Dominican Republic

03 May 2012

Newsroom Staff

alt

By Gloria Torres

The EU ambassador in Dominican Republic, Irene Horejs, stated that the EU pays cooperation programs for the Dominican Republic and Haiti as a whole since they believe that peace and the strength of one, depends on the others. It is intended only to avoid a catastrophe in either side of the island, but not unifying the two countries.

"Haiti is a concern for us because nobody today, especially the European Union, is interested in a catastrophe. Every war involves much cost and a lot of instability and no one with our vision of Europe is that interested in this. So we have a core vision for the stability of the island, “the official stressed.

According to Horejs, support to the Dominican Republic is essential for wellbeing and recovery of Haiti, as both are closely linked. She added that trade between the two countries has grown in recent years, an important factor linked to stability.

The representative also said that due to political instability and power vacuum that Haiti is currently experiencing, international aid to the country's recovery has been delayed or postponed

Cayman Islands promotes tourism in Argentina

30 April 2012

Newsroom Staff

alt

By Mynor Vendrell

The Minister of Tourism in Cayman Islands, Shomari Scott, traveled for the weekend to Argentina where he organized an event to promote the tourism market of the islands and the new availability of flights to be offered in partnership with Cayman Airways and Copa Airlines and Vía Panama from Argentina and other countries in the region. The event took place in the Four Seasons Hotel halls Buenos Aires, Argentina.

The purpose of the meeting was to strengthen trade relations with South America and expand opportunities to attract tourists to the island. Executives from the Grand Cayman Resort executives Marriott, Laura Skec and Henry Tasende, were also present at the meeting as well as Leandro Ratazzi, head of Network Reps and his team who will disseminate information on the Cayman Islands in Argentina.

The official stated that the Islands authorities are considering the possibility of resuming the promotion in the rest of Latin America to expand its tourism potential beyond its current market of Canada and the United States. He also advised that soon they will be opening promotional offices in Brazil.

Scott added: Economic growth in our country and Argentina has made us think that this country was a strategic center to begin the task of promoting our natural beauty and believe that the proposed new joint flights between Copa Airlines and Cayman Airways will provide more travel facilities to those passengers who do not wish to make visa procedures to travel throughout the United States.

The minister said his country is visited by 300,000 cruise ship passengers from all over the world and more than 300,000 tourists who travel by air annually. Scott said: We expect that a year from now, and taking advantage of these season flights from Cup and Cayman Airways which will extend from April to September, over 5000 Argentines visitors a year we come to our island from now on and discover one of the best kept secrets of the English Caribbean.

Three islands are those that make up the Cayman Islands: Grand Cayman, Cayman Brac and Little Cayman with no more than 55,000 people. The main attractions of the place are outdoor activities, water activities, free shop and tasting of fancy cuisine and ease of various accommodations around the territory. The group of islands is located 240 kilometers from Cuba, 289 km west of Jamaica in the Central Caribbean, and its official language is English, to enter, travelers only need their valid passports, their ticket back and they don’t need a yellow fever certificate.

Gas Natural Fenosa signs contract in Puerto Rico

27 April 2012

Newsroom Staff

alt

By Angel Ruiz

The multinational energy company Gas Natural Fenosa has signed a contract with the Electricity Authority of Puerto Rico (ESA) to provide 2 bcm (2.000 million cubic meters) over the next two years according to the National Securities Market Commission (CNMV).

The value of this contract will be 700 million euros. The Spanish company has been in the country since 2003 through EcoEléctrica and this agreement represents one of the most important in its wholesale customer base with will enhance its activity on the island.

The South Coast power plant will be supplied by the gas that ESA will receive with the contract. This plant has a generating capacity of 990 megawatts (MW).The gas will come into the country by boat originating from the contracts portfolio, then re gasify in EcoEléctrica factory before being transferred to ESA.

The supply beginning was inaugurated in a ceremony led by Luis G.Fortuño, Governor of Puerto Rico and the assistance of Jose Ortiz, chairman of the directors board of the ESA, Otoniel Cruz, executive director of ESA and the Government Bank Executive Vice President, Juan Manuel Roman. Representing the Spanish company where the director of Wholesale Banking Global Accounts, Victor Tuñon and country manager for Puerto Rico, Mark Hanson.

Gas Natural Group is present in Puerto Rico through EcoEléctricacompany, which owns 47.5% and has a combined cycle plant of 540 MWand a regasification plant with a capacity of about 2 bcm year.

Cuba promotes tourism in Central America

26 April 2012

Newsroom Staff

alt

By Julio Paz

A promotional tour will be conducted by a delegation of Cuban tourism executives around several Central American countries in preparation for the International Tourism Fair (FITCuba) to be held from the 8th to 11th of May this year on the island.

The commission is composed of airlines agents, hotels, tourist agencies and Cuban government officials in different areas related to tourism. Maria Antonieta Rodriguez, delegate of Cuba's tourism ministry, said the group visited El Salvador last Tuesday; on Wednesday they arrived in Guatemala and then will leave to Nicaragua and Panama.

Rodriguez added that FITCuba will take place in Cayos de Santa Maria, in the province of Villa Clara, central Cuba.

Roberto Blanco, Cuban ambassador to Guatemala, said that Cuba's tourism success is due to the offer variety, it offers rich history and culture, sun and beach environments and health tourism. The representative added: We have chosen to do the tour in Central America as it is an area very close to us, which we share very strong historical and traditional ties .

During 2011, over 2.7 million foreign tourists visited Cuba and three million visitors are expected this year .

Dominican Republic reduces its debt level

16 April 2012

Newsroom Staff

By Ramiro Castillo

According to the study of Alfred Schipke, chief of the Division of the International Monetary Fund (IMF) for the Western Hemisphere and new representative in Washington, Dominican Republic, Suriname, Panama and Trinidad and Tobago represent the countries with lower debt levels in the Caribbean region including English speakers. The debt of the Dominican Republic nonfinancial public sector is 28% approximately.

The author points out in his study "Overview of other monetary union": The progress of the reforms should help the Eastern Caribbean Currency Union to overcome the current economic uncertainty, that rising fiscal deficits, lack of fiscal integration, unsustainable debt and private sector challenges threaten the foundations of the Eastern Caribbean Currency Union (ECCU), one of the four schemes in the world currency.

PAHO and the Haitian government request to keep humanitarian aid

10 April 2012

Newsroom Staff

By Farah Castro

Taking into account the risk of an increase in cholera cases, the government of Haiti and the Pan American Health Organization (PAHO) asked the international community to continue providing donations to ensure the humanitarian response in the country.

PAHO stressed in a statement, the importance of promoting a solution to the disease before the first rains and hurricane season occur, usually between May and June.

Guyana launches branch of the largest insurance company in Suriname

03 April 2012

Newsroom Staff

By Susana Lima

With the establishment of two branches, the largest insurance company in Suriname inaugurated its services in the Caribbean, Assuria NV, with the aiming to promote regional development for both countries. General Assuria (GY) and Assuria Life Inc. (GY) Inc. began operations during the weekend.

Donald Ramotar, Guyanese President said that for several years there has been talks about attracting foreign investment beyond the region, but now they can talk about investment in their own area.

Page 1 of 12

«
Start
Prev
1
2
3
4
5
6
7
8
9
10
Next
End
»

ldf-news.com

Caribbean

Trinidad and Tobago will export gas to Panama

10% of Jamaica’s GDP is directed to pay the interest on its debt

EU supports joint growth of Haiti and the Dominican Republic

Cayman Islands promotes tourism in Argentina

Gas Natural Fenosa signs contract in Puerto Rico

Cuba promotes tourism in Central America

Dominican Republic reduces its debt level

PAHO and the Haitian government request to keep humanitarian aid

Guyana launches branch of the largest insurance company in Suriname

Most Popular

Do you think drugs should be legalized?

Do you think drugs should be legalized?

Music

Politics

X-treme Sports

Movies

LDFN Site Map

World

México

Central America

Caribbean

South America

Europe

Tech

Sport

Health