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    OECS Business Focus Weekly Issue No.11

     

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    Welcome to OECS Business Focus Weekly Issue No.11

    Regional Business News for informed decision-making.

     

    Dominica Judged World’s Best Citizen By Investment Programme

    Caribbean nations lead today's growing citizenship by investment industry, with Dominica's programme crowned best in the world for the second year running in the latest special report by FT publication, PWM.

    Professional Wealth Management (PWM) — a publication from the Financial Times — released the 2018 CBI Index on August 21, ranking the world's active citizenship by investment (CBI) programmes.

    Read more...

     

    New Security Clearance for OECS Nationals Entering EU From 2021

    Citizens of non-European countries as of 2021 will have to pass a new security clearance in order to travel to the European Union (EU). The new measure will affect OECS nationals whose countries have signed onto the agreement

    The EU will be implementing the European Travel Information and Authorization System (ETIAS). There are 60 countries that are not in the EU – including OECS states such as Saint Lucia, Dominica, Grenada, St. Vincent and the Grenadines, and Antigua and Barbuda — whose citizens can enter the EU Schengen Zone without needing a visa.

    Read More...

     

    New Attorney General Appointed in Anguilla

    HE the Governor Tim Foy and the Honourable Deputy Governor Perin A. Bradley are pleased to announce the appointment of the new Attorney General for Anguilla Mr Dwight Horsford.

    Formerly the Solicitor General in Grenada, Mr Horsford brings a wealth of experience in international, civil and commercial law and a strong background in legal affairs across the Caribbean.

    Read more...

     

    American Internet Registry Elects First Board Member from the Caribbean

    Surinamese Regenie Fräser, the former Secretary General of a regional telecommunications organisation, has been selected to serve a one-year term on the board of trustees of the American Registry of Internet Numbers (ARIN).

    Fraser’s appointment makes her the first person from the Caribbean and the first non-white person to serve on the ARIN board.


    Read more...

     

    New Antigua Brewery Will Be Locally Owned

    Antiguans and Barbudans will, if all goes according to plan, have significant stake in BREWTECH Antigua Limited which is expected to return to the country and start operations next year.

    Jobst Meier Zu Biesen, managing director of BREWTECH Antigua Limited, yesterday told OBSERVER media the aim is for the brewery to be owned primarily by Antiguans.

    Read more...

     

    Bitt Building Digital Currency for Curacao and Sint Maarten

    Barbados-based fintech company Bitt Inc. has signed a Memorandum of Understanding (MOU) with the Central Bank of Curaçao and Sint Maarten (CBCS) to look into the possibility of issuing a digital currency for the two Dutch-Caribbean nations.

    Medici Ventures, under whose portfolio Bitt falls, announced recently that the deal had been signed earlier this month at the culmination of talks that began in April 2018 during the CBCS’ second Central Banking Conference. The MOU solidifies the relationship between Bitt and the CBCS and outlines the basic framework for this collaborative effort in order to determine the way forward, it said.


    Read more...

     

    Young Antiguans Encouraged to Become Involved in Beekeeping Industry

    The Gilbert Agricultural and Rural Development (GARD) Centre, the Australian Embassy based in Trinidad and Tobago and the Mill Reef fund have partnered with the Antigua and Barbuda Beekeeping Cooperative to train a number of young people in beekeeping, beeswax soap making and bee box construction.

    Read more...

     

    Government Condemns “Fake News” After Earthquakes Hit Trinidad and Tobago

    The Trinidad and Tobago government Wednesday criticised people spreading “fake news” about the extent of the damage caused by the magnitude 7.3 earthquake that rocked the oil rich twin island republic on Tuesday.

    Read more...

     

    St. Kitts Welcomes Wednesday Peak Season Service from United Airlines

    United Introduces Mid-Week Nonstop Flights to Island from New York/Newark

    Wednesday, August 22, 2018 — Basseterre, St. Kitts – For the first time in the island’s history, United Airlines will fly a second weekly nonstop flight from its New York hub at Newark Liberty International Airport (EWR) to St. Kitts, complementing the carrier’s existing Saturday service.

    Read more...

     


    Jamaica Economy Records 14th Consecutive Quarter of Positive Growth

    The Planning Institute of Jamaica (PIOJ) says the economy grew by an estimated 1.8 per cent for the April to June 2018 quarter, when compared to the same period last year.

    Director General, Dr. Wayne Henry, said the out-turn, the largest since July to September 2016, reflected improved weather conditions which facilitated improved outputs in industries, such as agriculture; the positive impact of the resumption of operations at the JISCO Alpart alumina refinery, which strengthened the pace of growth; and higher levels of construction activities associated with road rehabilitation and commercial and residential developments.


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    Payments to CLICO Policyholders on Hold Amid Barbados Government’s Restructuring Efforts

    Long-awaited payments for some former CLICO policyholders in Barbados have become a casualty of Government’s debt restructuring efforts.

    Just when policyholders of the collapsed insurance giant dared to hope that the ten-year struggle to get back their investment was over, holders of Executive Flexible Premium Annuity (EFPA) instruments have been told their annuity payments have been put on hold indefinitely, according to the policyholders’ association.

    Read more...

     

    Nevis Makes Headway in Effort to Expand Financial Services Sector
    Efforts to expand the Financial Services Sector are underway, with the Nevis Island Administration (NIA) targeting an expansion of 50 percent over the next five years, following an earlier announcement in the Throne Speech and the 2018 Budget Address.

    Colin Dore, Permanent Secretary in the Ministry of Finance says they have identified a consultant and are in discussions.


    Read more...

     

    Harris Paints Set for Further Growth as it Increases Caribbean Stake

    The Harris Paints Group has extended their reach throughout the Caribbean with the recent purchase of the assets of Lee Wind Paints. The acquisition gives the company, sole manufacturing rights in Antigua.

    Harris Paints is a well-known brand in Antigua and has been the established market leader for many years. Ian Kenyon, CEO-Harris Paints Group, said that the company looked forward to establishing a new manufacturing facility, increasing their investment in the country and that it would provide important strategic access to new export markets such as the BVI, US Virgin Islands, as well as Turks and Caicos.


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    Montserrat Announces Little Bay Port Development to be Completed by 2020

    Premier the Hon. Donaldson Romeo has been touting on the transformation projects that are about to be rolled out by the end of this year. Among them is what his government sees as most integral to the development of Montserrat. As reported he is spouting great optimism surrounding the delivery of a new breakwater and berthing facility for Montserrat. Only that will not break ground until next year.

    Earlier in this month like before, the Government was reportedly in negotiation with the European Union for an additional £5million to fund the project. This is expected to supplement the 14.4 million pounds or $50.8 million already allocated under the UK Caribbean Investment Fund, UK-CIF.

    Read more...

     

    OECS Animators Attend Boot Camp Workshop in Saint Lucia

    Export Saint Lucia in collaboration with St. Lucia Coalition of Service Industries (SLCSI) and Caribbean Export Development Agency (CEDA) hosted an Animation Boot Camp from August 13 to August 17 2018.

    Animation is a multibillion dollar industry that spreads across many sectors: education, gaming, visual effects, merchandising and television programming.


    Read more...

     

    Guyana: Government Agrees to $20 Hike in Minibus Fares

    The government has agreed on a G$20 hike across-the-board in minibus fares, effective September 1, so that operators can surmount some of the financial challenges facing the sector.

    This is the decision coming out of a meeting between the Ministry of Business and the United Minibus Union (UMU) last Thursday.

    “The Ministry of Business has undertaken to draft the new fare structure for the various zones and routes, and will make this available to the United Minibus Union (UMU) for circulation to its members,” UMU said on Monday in a press statement. “Minibus operators are required by law to display the fare structure in all buses.”

    Read more...

     

     

    Find more OECS Business information in
    the OECS Business Focus Issue #9.
    Contact Your Local Chambers of Commerce a Free Printed Copy.
    www.oecsbusinessfocus.com


     

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