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REGIONAL

Trinidad and Tobago

Income Tax Bill passed

IN A drastic and desperate move, the Government butchered the

controversial Income Tax (Amendment) Bill, deleting all clauses that

required Opposition support to ensure its passage.

Chaotic end to Petrotrin

PETROTRIN'S management had hoped that yesterday's emotionally-

charged final hours for thousands of terminated workers would end

smoothly, as the company began a new chapter in its bid to become

profitable.

Single employee for Guaracara Refining Company

THE Guaracara Refining Company is to have one employee.

Guards abandon Petrotrin posts

AMALGAMATED SECURITY SERVICES has taken charge of securing the

assets of Petrotrin.

5 charged with fraud

THE level of fraud in the flood relief programme is 40 per cent, Prime

Minister Dr Keith Rowley said on Thursday night.

Court orders Elias to repay Imbert $46m

AFTER close to 19 years of legal battle, the Appeal Court has ordered that

contractor Emile Elias repay Finance Minister Colm Imbert a mammoth

$46 million stemming from a breach of contract lawsuit that was filed by

Elias, involving work done by Imbert's company on the Grenada National

Stadium in 1997.

Rice farmers referred to Fraud Squad

INFLATED claims for compensation due to flooding by some rice farmers

have been referred to the Fraud Squad, Agriculture Minister Clarence

Rambharat said yesterday.

South contractors to fix potholes for free

CONTRACTORS are also fed up with dealing with potholes and have

joined the 'voluntary pothole relief' project to provide assistance.

Trinidad and Tobago continued

Flow to cut channel line-up

CABLE provider, Flow, is removing several channels from its channel line-

up.

Cost of roads to rise

And the price of cooking gas will be subsidised by Government to stay the

same.

SFC makes 50% jump

ACTIVITY on the first-tier market increased by 64.51 per cent on a total of

2,523,811 shares crossing the floor compared to 1,534,172 shares traded in

the prior week.

'Careful who you listen to'

RESPONDING to public pressure and media attention, the Government

hastily convened a news conference last week announcing they had

decided to take the 'unusual' step of releasing the much sought-after

Sandals MOU.

TTPost welcomes letters to Santa Claus

THOUGH the company is going through a digital transformation and

restructuring right now, to rely less on print mail and more on courier

services, one old letter writing tradition is being encouraged.

Refinery to hit the market

OFFERS for 'either the sale or lease' of the State-owned oil refinery at

Pointe-a-Pierre which ended all of its operations on Friday 'will be

evaluated by a team of experts', says Energy Minister Franklin Khan.

Concern as Petrotrin Sports Club left in limbo

MEMBERS of the Petrotrin Sports Club at Guaracara Park, Pointe-a-Pierre,

have expressed concerns over the future of the club following the winding

down of the State-owned energy company.

Barbados

Cruise surge

Almost 14 000 cruise ship passengers and crew could be descending on

Barbados and the island’s attractions on Sunday when four mega ships

call at the Bridgetown Port.

Barbados continued

Barbados gives commitment to blue economy

Government remains committed to the development of the Blue

Economy as the ocean has been identified as the “life blood” of the

planet.

Consumers to pay less for petroleum products

Consumers will be paying less for gasoline, diesel, kerosene and Liquefied

Petroleum Gas (LPG) effective midnight Sunday.

Jamaica

Jamaica Tops World Travel Awards

Jamaica and Jamaican companies emerged the big winners at the

World Travel Awards (WTA) Grand Finale Gala Ceremony in Lisbon,

Portugal, on Saturday night, winning eight of the coveted awards.

Wigton Windfarm to list on JSE

THE Wigton Windfarm (WWF) initial public offering (IPO) on the Jamaica

Stock Exchange (JSE) is expected for March 2019.

Thousands of farmers to receive US$ support in 2019

JAMAICA'S agriculture and rural tourism sectors are expected to get a

boost from a US$60-million injection under phase two of the World Bank-

funded Rural Economic Development Initiative (REDI) in 2019.

Guyana

Jordan promises not to borrow at rates that compromise Guyana’s fiscal

stance

In spite of the expected gains to come from the petroleum sector, the

Coalition Government will continue to manage the nation’s debt in a

most prudent manner.

The Bahamas

Stopovers Rise ‘A Phenomenal’ 18% In Abaco

Stopover visitors to Abaco increased by “a phenomenal” 18 percent for

the first eight months of 2018, with the island’s airport now the country’s

second busiest due to Freeport’s decline.

Haiti

Monthly inflation increases according to the new CPI

According to the new Consumer Price Index (CPI base 100, monthly

inflation increased in October 2018 by +1.4% and +14.3% year-on-year

(last 12 months).

St. Kitts and Nevis

Agricultural Weather Stations aim to reduce disaster damage for farmers in

St. Kitts and Nevis

As the Ministry of Agriculture strives to ensure food security, Agricultural

Weather Stations were launched at Needsmust, on November 30, to help

forecast the ever-changing weather conditions for the benefit of farmers.

Caribbean Farmers Ready for Coconut Boom

Coconuts are a longtime staple of Caribbean cuisine, and practically an

emblem of the region’s climate and culture. But a new international

initiative is shifting coconut’s image to an icon for business process

innovation, wealth generation and sustainable livelihoods.

Grenada

Grenada PM not surprised by Scotiabank sale

Grenada Prime Minister Dr Keith Mitchell says he was not surprised at the

decision by Scotiabank to sell its operations in nine Caribbean countries,

saying he was also happy to see a Caribbean institution “playing an even

bigger role in the banking system”.

Grenada to launch US$42m water resiliency project

PORT-OF-SPAIN, Trinidad (IPS) Water-scarce Grenadians will soon get some

relief through a Green Climate Fund (GCF)-approved project to be

launched next year that will make Grenada's water sector more resilient

to the impacts of climate change.

Antigua and Barbuda

Moves to arrest problems at GPO

The Ministry of Works says every effort is being made to have the

operations of the General Post Office return to normalcy at the earliest

opportunity.

British Virgin Islands

BVIPA to issue contracts using new database, registration encouraged

Months after central government created a database of contractors who

would then be hired to carry out home repairs across the territory, the BVI

Ports Authority (BVIPA) have employed a similar method to issue BVIPA-

related contracts to businesses and individuals.Error! Hyperlink reference

not valid.

Cabinet leases Blunder Bay! Private developers to build 5-Star Resort

Virgin Gorda could soon be home to one of the world’s foremost five-star

luxury resorts, at Blunder Bay, North Sound.

Dominica

$23 million in contracts signed for ongoing works in Roseau Valley

The government of Dominica has signed contracts amounting to $23

million for ongoing works in the Roseau Valley.

New Smart Health Centre officially handed over in La Plaine

The community of La Plaine now has a new Smart Health Centre.

Other Regional

New owners close $1.25 billion financing to restart USVI refinery

Limetree Bay Ventures has closed a $1.25 billion financing to restart its

refinery located at Limetree Bay, St Croix, US Virgin Islands. The company is

undertaking the project in conjunction with the tolling, supply and offtake

agreements that it executed with BP Products North America earlier this

month. The common equity in Limetree Bay is owned by affiliates of

ArcLight Capital Partners, Freepoint Commodities, and a leading

sovereign wealth fund.

ECCB confirms receiving Republic’s application to acquire Scotiabank 24

hours after public announcement; begins review

The St Kitts-based Eastern Caribbean Central Bank (ECCB) said on

Saturday that it had received an application from the Republic Financial

Holdings seeking regulatory approval to acquire the Bank of Nova

Scotia’s operations and businesses in the Eastern Caribbean Currency

Union (ECCU) one day after the announcement of the acquisition.

Other Regional continued

Cayman Airways takes delivery of the first Boeing 737 Max 8 in the

Caribbean

Cayman Airways took formal delivery of its new Boeing 737 Max 8 aircraft

from Air Lease Corporation (ALC) on November 28, 2018, at a ceremony

in Seattle hosted by Boeing to mark the occasion.

Tourism, food security among high-potential areas for expanding UAE-

Caribbean cooperation

Tourism, food security, manufacturing, logistics, and renewable energy

have been identified as high-potential areas where companies in the UAE

and Caribbean region can expand economic cooperation, according to

new analysis from Dubai Chamber of Commerce and Industry.

INTERNATIONAL

United States

Nexstar to buy Tribune Media in $6.4 billion deal

Nexstar Media Group Inc (NXST.O) said on Monday it agreed to buy

Tribune Media Company (TRCO.N) in a deal valued at $6.4 billion.

Bank of America completes Brexit switch to Dublin

Bank of America (BAC.N) finished moving its banking and markets

operations in Europe to a new base in Dublin from London, the bank said

on Monday, after it received all necessary regulatory and court

approvals.

United Kingdom

Britain submits new terms for post-Brexit services trade at WTO

Britain has officially notified the World Trade Organization of the proposed

terms for its trade in services with other countries after Brexit, an important

part of its divorce from the European Union, trade minister Liam Fox said

on Monday.

Europe

EU calls for concrete, substantial changes to Italy budget

The European Union executive welcomed on Monday a change of tone

from Italy in its dispute with the bloc over its excessively expansionary 2019

budget, but called for concrete, substantial changes before halting

disciplinary action.

China

China says U.S., China working toward removing all tariffs

China’s foreign ministry said on Monday that the Chinese and U.S.

presidents instructed their economic teams to work toward removing all

tariffs, following a meeting in Argentina where the two leaders agreed to

a truce in their trade war.

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Jordan promises not to borrow at rates that compromise Guyana’s fiscal

stance Monday 3rd December, 2018 – Kaieteur News

In spite of the expected gains to come from the petroleum sector, the

Coalition Government will continue to manage the nation’s debt in a

most prudent manner.

Thats according to Finance Minister, Winston Jordan during his 2019

budget speech, which was presented to the nation on Monday last. The

economist said that the Government will maintain a moderate risk of debt

distress and, in this regard, will undertake not to borrow at rates that could

compromise the countrys fiscal stance.

Jordan also reminded that the public debt legislation is currently being

drafted and is expected to be laid in the House in 2019. He said, too, that

the Government will prioritize the crafting of a national debt strategy and

an annual borrowing plan, which together, will define the optimal mix of

financing mechanisms in the short-to-medium term, for the funding of

development initiatives.

The Finance Minister reminded that the Government also published a

Public Private Partnership Policy Framework in 2018. He noted that this

presents a structured framework within which the Government can pursue

new options of financing that will reduce the need to incur significant

debt.

Jordan said that this Framework will guide, in an open and transparent

manner, how government will engage with the private sector in the

provision of public goods for mutual benefit.

Further to this, Jordan said that the Government is preparing a roadmap

to develop the countrys institutional, technical, financial, environmental

and business expertise to engage private sector partners. In Budget 2019,

he said that the Government has allocated $100 million to support this

initiative.

PUBLIC PRIVATE PARTNERSHIPS

In an effort to fulfill its development objectives for Guyana, the

Government will have to form partnerships with private partners. This

collaboration will see private sector members participating more fully in

procuring and financing infrastructural projects and services in the public

sector.

To guide this Public Private Partnership (PPP), the Government adopted a

policy framework that is intended to ensure value for every dollar invested

in the Public Sector Investment Programme (PSIP).

This was expressed by Minister of Finance, Winston Jordan, at the 48th

annual meeting of the Board of Governors of the Caribbean

Development Bank (CDB). The event was held in St. Georges, Grenada.

The Finance Minister said that the document provides a structured

platform for the local and external private sector to meaningfully engage

the Government in achieving its national development agenda.

As Guyana rapidly approaches oil producer status, with the attendant

massive inflow of new resources, Jordan said that the inclusiveness of all

stakeholders in national development becomes a pressing imperative.

As such, Jordan noted that the document is a timely one.

According to the document, it is Governments intention to encourage

innovation in as many areas as possible. The Government noted that

traditionally, PPPs have been applied to the infrastructure sector in

particular, in infrastructure, electricity, telecommunication, water,

transport and solid waste sectors, and increasingly in the social (health

and education) and Information sectors.

In the early stages of developing PPPs, Government said it will focus on

the following key areas of development: the Demerara Harbour Bridge,

the Linden-Lethem road link, the Deep Water Harbour and Container Port,

the Mini and Maxi Hydro Plants and Energy Farms, Plantation Agriculture,

the Modernization and Dredging of Port Georgetown, the Milk Plant for

Guyana, the Information Technology farm; and Agro-industrial and Small

Manufacturing arks.

The Government notes that the benefits and advantages of PPPs can be

significant when they are well designed and implemented in a balanced

regulatory framework.

It noted; however, that those positive outcomes have to be earned

through projects that can catalyze development, are financially viable,

will minimize impact on the national debt and can favourably affect

Gross Domestic Product (GDP) growth.

To achieve this, the Government said that creative, competitive and

transparent procurement processes as well as clearly articulated policies

and procedures followed by thorough due diligence, must be applied.

It said that there are, therefore, certain key pre-conditions that need to be

present in the policy framework for PPPs, as they are critical to delivering

successful outcomes.

It said that these preconditions have been identified as affordability, the

legislative environment, institutional arrangements and capacity building.

On the issue of affordability, the Government pointed out that this is a key

requirement of all PPP projects. It said that the options must be affordable

both to Government, and the public, given competing priorities and

commitments.

The Government said that the rationale for PPPs is improved management

of scarce resources, better risk allocation and more efficient and cost-

effective delivery of services.

The Government said however, it should be noted that while the private

sector may be willing to finance and deliver infrastructure and services

through PPPs, only users or taxpayers can pay for these goods and

services. It stressed that affordability, therefore, acts as a real constraint,

and public bodies will need to give considerable thought to the selection

of potential PPP projects, ensuring always that their choices are in line with

Governments policy priorities and objectives.

With respect to the legislative environment, the Government said that

Guyana already has many of the ingredients required for a successful PPP

programme: a stable administration; an independent judiciary; a robust

Procurement Act and mechanism; and reasonably well-performing public

institutions.

“However, political and regulatory risks can be potential barriers to

effective PPP implementation. A new PPP regulatory framework will be

approved to provide further and concrete evidence of Governments

commitment to a PPP policy and to establish the principles and rules with

which all public bodies will be required to comply.”

As for institutional arrangements, the Government contended in its policy

that international experience suggests that identifying and establishing

clear and unambiguous institutional functions at the onset of a countys

PPP programme, greatly assists in successful PPP implementation.

It said that while institutional roles and responsibilities may change over

time, as Governments experience with PPPs grow, the following public

institutions will have integral roles in the programme: the Ministry of

Finance, Ministry of Public Infrastructure, and the Ministry of Business.

The Government said that strategic direction of the Governments PPP

programme will be the responsibility of a Steering Committee. A PPP Core

Team, within the Ministry of Finance will act as the Secretariat to the

Steering Committee and as a focal point for the day-to-day

management of the programme.

<< Back to news headlines >>

Stopovers Rise ‘A Phenomenal’ 18% In Abaco Friday 30th November, 2018 – Tribune 242

Stopover visitors to Abaco increased by “a phenomenal” 18 percent for

the first eight months of 2018, with the island’s airport now the country’s

second busiest due to Freeport’s decline.

Dionisio D’Aguilar, Minister of Tourism and Aviation, told a weekend town

meeting in Marsh Harbour: “Tourism is doing exceptionally well on the

island of Abaco. For the first eight months of this year, stopover visitors are

up 18 per cent and that is phenomenal.

“In the first eight months, the number of foreign visitors that came to

Abaco by air was 95,000; the number of foreign visitors to Grand Bahama

was 54,000. This island is doing well.”

Minister D’Aguilar said there were plans to hire a private company to run

Abaco’s Leonard Thompson International Airport and the Treasure Cay

Airport, similar to how the Nassau Airport Development Company (NAD)

operates the Lynden Pindling International Airport (LPIA).

“We’re looking at creating a company to run that airport in much the

same way that NAD runs LPIA,” he explained. “The airport, since its

construction, has begun to deteriorate a little and we need to generate

the funds to pay for its upkeep and maintenance.

“When you go through LPIA, if you go through the international side you

pay a $48 passenger facility charge that keeps the airport wonderfully

maintained. If you’re going on a domestic flight you pay $10 towards the

kitty.

“Basically create a company that just runs the airport on a full-time basis

and can maximise and bring focus as to why the other airport (Treasure

Cay) is sitting vacant. What are we going to do with that empty Customs

building? Whereas it’s now a part of a huge portfolio of airports, and

we’re not bringing the appropriate focus on what’s a key entry point to

the country.”

While in Abaco, Mr D’Aguilar visited Forest Heights Academy, the school

of current junior minister of tourism, Khalea Richard.

He not only praised her excellent work thus far, but encouraged the

students of Forest Heights to consider a future in tourism.

“The economic climate in Abaco is such that it allows you to create your

own employment; to become entrepreneurs and chart your own

economic future,” Mr D’Aguilar said. “The field is wide open for business.

“Any enterprise involving the sea is a hands down winner: Boating, fishing,

diving, kayaking. On land, look at the rich culture of Abaco; the history,

the heritage, the arts and craft. You can capitalise on these areas and

package innovative tours and excursions for our visitors.”

<< Back to news headlines >>

Agricultural Weather Stations aim to reduce disaster damage for farmers in

St. Kitts and Nevis Friday 30th November, 2018 – SKN Vibes

As the Ministry of Agriculture strives to ensure food security, Agricultural

Weather Stations were launched at Needsmust, on November 30, to help

forecast the ever-changing weather conditions for the benefit of farmers.

This project aims to help agricultural agencies link agricultural activity with

meteorological data, providing farmers with early warnings of weather

variations. As a result, farmers will also be able to immediately receive

technical recommendations to adjust their cultivation models and reduce

disaster damage.

“We all know that the climate is changing and the weather patterns are

changing,” said the Honourable Tom Lee, Ambassador of the Republic of

China (Taiwan), adding that St. Kitts and Nevis and Taiwan are island

countries that are susceptible to extreme weather.

“So it is important for both countries to learn how to adapt to the extreme

weather… Most countries with the ability to adapt will be the winners in

the future. As Taiwan is a strong ally to St. Kitts and Nevis, we are very

willing to share our experience in this area. We launched this project [SKN

Enhancing Agricultural Adaptive Capacity to Climate Variability Project]

last year with the [aim] to help St. Kitts and Nevis to enhance its

agricultural adaptive capacities.”

According to the Ambassador, there will be three stations in St. Kitts and

one in Nevis, which can transmit accurate agricultural meteorological

data directly from the stations.

Minister of Agriculture, the Honourable Eugene Hamilton stated that,

because of the changing climate, it is important for St. Kitts and Nevis to

formulate an adaptation programme. He added that the country

urgently needs to pursue technical training, as well as research capacity

building and professional consultation for such an adaptation

programme.

“For information to flow smoothly from production to application, it is

necessary to convert meteorological data into crop disaster prevention

information and help farmers with disaster prevention through appropriate

dissemination channels,” he said.

The type of data that will be gathered include temperature, humidity,

rainfall, sunshine and soil moisture content in accordance with the

meteorological needs of the agricultural industry.

“This is another step in building capacity so that farmers can produce with

greater predictability, and our food security waste will be significantly

reduced as a result,” said the minister.

Minister Hamilton stated that the project is expected to cover a period up

to 2022 at a cost exceeding US $3million.

The minister expressed the gratitude of the Government and people of St.

Kitts and Nevis for the generosity of the government and people of

Taiwan.

“There is no doubt, Mr. Ambassador, that your country, which has been

our first diplomatically, is our most authentic and valuable ally and I can

assure you that you can always count on our support in any local and

international endeavour.”

<< Back to news headlines >>

Caribbean Farmers Ready for Coconut Boom Friday 30th November, 2018 – SKN Vibes

Coconuts are a longtime staple of Caribbean cuisine, and practically an

emblem of the region’s climate and culture. But a new international

initiative is shifting coconut’s image to an icon for business process

innovation, wealth generation and sustainable livelihoods.

In the last four years, the Caribbean Agricultural Research and

Development Institute (CARDI) has been implementing a major regional

project, working alongside the International Trade Center and

stakeholders along the coconut value chain to transition the region’s

small-scale operations to enterprise-level profitability in the global

coconut industry. The European Union and the African, Caribbean and

Pacific Secretariat funded the four-year project to the tune of US$27

million.

An upcoming celebration called CARDI Day will highlight the Institute’s

ongoing work in the EUACP funded Regional Coconut Industry

Development Project, through a series of exhibitions, public lectures and

school tours. Participants will see the many practical ways in which the

project is breathing new life into one of the region’s oldest industries. Held

on December 5, the celebration will also mark the day in 1974 when

Caribbean government representatives met in Georgetown, Guyana to

sign an agreement establishing the Institute.

Worldwide, a growing demand for fresh coconut produce is being driven

by recent trends in the global food and beverage sector and the health

and beauty market. It’s hardly surprising that Caribbean farmers are

exploring new ways to get more out of the coconut value chain,

converting every part of the iconic tree into marketable assets. But it’s not

that simple. For many farmers, issues like pests, disease and limited market

access are severely constraining their ability to make a sustainable living

from coconuts.

Ricardo Vriesde farms his family’s 500-hectare lot on the coastal district of

Coronie, just west of Paramaribo, a region once known as the coconut

capital of Suriname. Far from reminiscing on glory days of coconut

monoculture, Vriesde is embracing a mixed farming approach. Through

the technical advice received under the project, he is replacing ageing

coconut trees on his plantation with dwarf and hybrid varieties. And while

waiting for the coconuts to come into production, he inter-plants with fruit

trees such as cherries, carambolas and bananas to diversity income and

regularise cash flow. Vriesde’s not limited to primary production. He plans

to scale

up his existing bottled coconut water business and has already secured

machinery from Thailand to begin producing virgin coconut oil in early

2019.

And he’s not alone. CARDI is working alongside local and international

agencies in Antigua and Barbuda, Barbados, Belize, Dominica, Dominican

Republic, Guyana, Jamaica, St. Lucia, St Vincent and the Grenadines,

and Trinidad and Tobago to help other farmers benefit from the window

of opportunity created by an upsurge in global demand. In Belize, small-

scale coconut processor Dona Dougal Sosa took part in a similar series of

training modules to learn how to streamline the manufacturing and

packaging processes for her line of coconut-based soaps.

In Jamaica, the project has focused on developing farmer’s business skills

in order to open upcrucial access to financial products and services. A

recent collaboration saw the International Trade Centre and the

Development Bank of Jamaica providing financial literacy training to

several Jamaican producers.

Those kinds of interventions are happening across the region’s coconut

value chain, bringing together smallholder farmers and small-scale

processors with representatives from finance and other sectors so that

they can more easily share technical knowledge and market information.

Barton Clarke, Executive Director of CARDI, says the multi-stakeholder

efforts will add up to a more competitive coconut industry for the entire

region.

“Through this Regional Coconut Industry Development Project, CARDI is

working to improve income and employment opportunities, food security,

and overall competitiveness of the Caribbean coconut sector,” Clarke

said.

“In its first phase, the project has laid a firm foundation from which growth

and expansion of the industry can now be accelerated. CARDI will

continue to work alongside national stakeholders, regional actors and

international agencies to deepen linkages with players from sectors such

as health services, manufacturing, finance and tourism,” said Maurice

Wilson, regional project coordinator.

<< Back to news headlines >>

Monthly inflation increases according to the new CPI Saturday 1st December, 2018 – Haiti Libre

According to the new Consumer Price Index (CPI base 100, monthly

inflation increased in October 2018 by +1.4% and +14.3% year-on-year

(last 12 months).

This variation comes from the rise in almost all consumption functions, the

most important of which are : Food and non-alcoholic beverages (+ 2.1%

over one month and + 16.6% over one year), clothing and footwear (+1.2

% over one month and + 15.2% over one year), Furniture, household

goods and household maintenance (+ 1.6% over one month and + 17.5%

over one year), Health (+1.9% over one month and +20.5% % over one

year) and Miscellaneous goods and services (+ 1.0% over one month and

+ 15.0% over one year).

Products that experienced the strongest year-over-year increases :

Food :

Imported rice (+ 26.4%), meat (+ 22.1%), chadec (+ 22.9%), eggplant (+

29.7%), the true tree (+ 28.2%).

Clothing :

Dress (+ 17.3%) and shoes and tennis (+ 17.1%).

Furniture, household items... :

Curtain (+ 22.6%), stove (+ 20.8%), refrigerator (+ 29.5%) and insecticides (+

25.6%).

Health :

Medication (+ 24.8%) and hospitalization costs (+ 15.4%).

Miscellaneous goods and services :

Toilet soap (+ 17.1%), toothpaste (+ 22.1%) and perfume, eau de toilette (+

16.2%).

Local products, increased in October by + 1.4% and + 13.3% yoy, slightly

lower than the CPI Global + 1.4% in October and + 14.3% over the last 12

months. While, the price increase of imported products is higher than that

of local products with monthly increases of +1.6% and annual +16.0%.

At the regional level, the highest monthly inflation was observed in the

South Department (+ 1.8%) and the Metropolitan Area (+ 1.6%). While over

the last 12 months, the departments of the North (+ 14.5%), Rest West and

Transversal (+ 14.4%) showed the largest increases.

Consumer Price Index (CPI) for the whole country by consumption

function

General index : + 14.3% over one year + + 1.4% over the month of October

Food and non-alcoholic beverages: month + 2.1%, year + 16.6%

Alcoholic beverages and tobacco: month + 0.4%, year + 5.4%

Clothing and footwear items: month + 1.2%, year + 15.2%

Housing, water, gas, electricity and other fuels: month + 0.8%, year + 13.2%

Furniture, household goods and household maintenance: month + 1.6%

year + 17.5%

Health: months + 1.9%, year + 20.5%

Transport: months + 0.5%, year + 4.7%

Communications: month + 0.3%, year + 2.9%

Hobbies: 0.8% month, year + 14.5%

Lessons: month 0.0%, year + 10.8%

Restaurants: month 1.0%, year + 15.5%

Miscellaneous goods and services: month 1.0%, year + 15.0%

Annual evolution of CPI October 2017 to October 2018

Global IPC :

2017: October: 10.7%; November 10.5%; December 10.5%; 2018: January

10.9%; February 11.0%; March 11.1%; April 11.2%; May 11.1%; June 11.7%;

July 12.1%; August 12.7%; September 13.2%; October 14.4%

IPC of local products :

2017: October: 10.7%; November 10.4%; December 10.4%; 2018: January

10.5%; February 10.6%; March 10.8%; April 11.0%; May 11.1%; June 11.4%;

July 11.8%; August 12.1%; September 12.4%; October 13.3%

CPI of imported products :

2017: October: 10.8%; November 10.7%; December 11.1%; 2018: January

11.4%; February 11.6%; March 11.5%; April 11.9%; May 11.0%; June 11.9%;

July 12.7%; August 13.6%; September 14.0%; October 16.0%

CPI by geographic region :

Metropolitan area : months + 1.6%, year + 14.1%

(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet)

Rest West : months + 1.4%, year + 14.4%

(South-East and West Departments without Metropolitan Area)

North : months + 1.4%, year + 14.5%

(Department of North, North East and North West)

South : months + 1.8%, year + 14.3%

(Department of the South, Grande-Anse and Nippes)

Transversal : months + 1.3%, year + 14.4%

(Department of Center and Artibonite)2017-2018

<< Back to news headlines >>

Tourism, food security among high-potential areas for expanding UAE-

Caribbean cooperation Sunday 2nd December, 2018 – Caribbean News Now

Tourism, food security, manufacturing, logistics, and renewable energy

have been identified as high-potential areas where companies in the UAE

and Caribbean region can expand economic cooperation, according to

new analysis from Dubai Chamber of Commerce and Industry.

The findings, released on the sidelines of the first UAE-Caribbean

Cooperation Forum in Dubai, revealed that the value of non-oil trade

between Dubai and Caribbean countries totaled $273 million in 2017.

Bilateral non-oil trade was dominated by imports from the Caribbean

which were valued at $183 million in 2017, while $90 million worth of

exports contributed 33 percent to Dubai’s trade with the region.

Suriname ranked as Dubai’s top Caribbean trading partner in 2017, with

bilateral non-oil trade valued at $113.8 million, accounting for 42 percent

of the emirate’s trade with the region. Guyana ranked second with $52.1

million in bilateral trade, followed by Dominican Republic and Trinidad

and Tobago.

In addition, the findings revealed that the number of Caribbean

companies registered with Dubai Chamber increased by 54 percent from

403 in 2013 to reach 621 in 2018.

Hamad Buamim, president and CEO of Dubai Chamber of Commerce

and Industry, noted that the findings reflect the tremendous potential to

boost bilateral trade and investment in the future as the UAE and

Caribbean countries push ahead with plans to diversify their economies

and explore business opportunities abroad.

“Dubai can serve as a global gateway for Caribbean exporters who are

keen to broaden their horizons and access markets across the Middle

East, Africa, and Asia, while the Caribbean region is fast emerging as an

attractive investment destination, providing plenty of advantages which

UAE companies can benefit from,” Buamim added.

Held on November 24-26, the UAE-Caribbean Cooperation Forum was co-

organised by the UAE ministry of foreign affairs and international

cooperation and Dubai Chamber of Commerce and Industry, in

partnership with the UAE ministry of economy and the UAE ministry of

culture and knowledge development.

<< Back to news headlines >>

Nexstar to buy Tribune Media in $6.4 billion deal Monday 3rd December, 2018 – Reuters

Nexstar Media Group Inc (NXST.O) said on Monday it agreed to buy

Tribune Media Company (TRCO.N) in a deal valued at $6.4 billion.

Nexstar said it would pay $46.50 per share, representing a premium of 15.5

percent to Tribune Media’s closing price on Friday.

The price per share value of the deal was in line with what Reuters

reported on Sunday, citing people familiar with the matter.

<< Back to news headlines >>

Bank of America completes Brexit switch to Dublin Monday 3rd December, 2018 – Reuters

Bank of America (BAC.N) finished moving its banking and markets

operations in Europe to a new base in Dublin from London, the bank said

on Monday, after it received all necessary regulatory and court

approvals.

International banks are setting up subsidiaries across the European Union

to ensure they can continue to serve clients. Their London operations may

lose the right to operate across the EU with Britain’s departure from the

bloc in March still filled with uncertainty.

As part of its preparation for Brexit, Bank of America announced last year

that it would merge Bank of America Merrill Lynch International, its

London-based subsidiary, into its Irish entity based in Dublin.

“We are pleased to have worked closely and constructively with our

regulators to complete this critical component of our Brexit preparations

exactly on schedule and well ahead of the earliest possible date of the

UK’s exit from the EU,” Bank of America Merrill Lynch Europe chair Anne

Finucane said in a statement.

Bank of America last year became the first U.S. bank to pick Dublin as its

new base for its EU operations, as the Irish capital’s growing financial

center competes with the likes of Frankfurt and Paris to win business

leaving London.

Ireland’s central bank said in October that it is processing over 100 Brexit-

related applications to authorize firms across sectors including investment

management, banking, payments and insurance.

The regulator is still receiving applications from small to medium financial

firms looking to set up or extend operations in Dublin, and it is aware of

more to be submitted as the Brexit clock ticks down, an official familiar

with the process said last month.

Bank of America will relocate up to 125 jobs from Britain, mostly to Ireland,

as part of the move, according to a corporate filing seen by Reuters

earlier this year.

The bank said employees in finance, risk, compliance, technology and

credit functions would be affected. The moves will be a combination of

staff relocation and new hires. It is set to take place between July and

December this year.

The roles represent a first phase of job moves. A second is possible

depending on the outcome of Britain’s negotiations with the EU, the bank

said. The second phase would mostly relocate jobs to France, with some

going to Ireland, Germany and other locations.

Bank of America said on Monday that it now employs over 800 people in

Dublin and that its new European headquarters would operate through

branches in Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris

and Zurich.

<< Back to news headlines >>

Britain submits new terms for post-Brexit services trade at WTO Monday 3rd December, 2018 – Reuters

Britain has officially notified the World Trade Organization of the proposed

terms for its trade in services with other countries after Brexit, an important

part of its divorce from the European Union, trade minister Liam Fox said

on Monday.

The procedure is necessary because the United Kingdom has to

disentangle its WTO membership from that of the EU. Fox said the

proposed new terms circulated among WTO members would replicate

Britain’s current obligations as far as possible.

“We see this only as a technical exercise that will provide continuity for

business and, in future, we will work with other members on an ambitious

agenda to liberalize international trade in services even further,” Fox said

in a statement.

<< Back to news headlines >>

Cruise surge Saturday 1st December, 2018 – Nation News

Almost 14 000 cruise ship passengers and crew could be descending on

Barbados and the island’s attractions on Sunday when four mega ships

call at the Bridgetown Port.

And chief executive officer of Foster and Ince Cruise World, Martin Ince, is

hoping that authorities lay on extra personnel to dispatch them as quickly

as possible.

The Caribbean Princess, with its 2 627 passengers and 1 190 crew, will be

bringing the greatest number. It will be joined by the Queen Mary 2, the

Norwegian Dawn, the Marella Explorer and the smallest with 100

passengers – the Sirena.

“On very busy days, I think as a destination, we need to be planning a

little better to ensure that we can handle the surges,” Ince told THE

NATION.

<< Back to news headlines >>

Barbados gives commitment to blue economy Saturday 1st December, 2018 – Barbados Today

Government remains committed to the development of the Blue

Economy as the ocean has been identified as the “life blood” of the

planet.

Minister of Maritime Affairs and the Blue Economy, Kirk Humphrey,

emphasized Government’s commitment to the process as he addressed

the inaugural Sustainable Blue Economy Conference in Kenya this week.

Noting that Barbados had already announced a ban on single use

plastics from April 1, 2019, Humphrey said his Ministry intended to

engender a philosophy of “sustainable use and development” in the

areas of fisheries, marine assets, resources, minerals and species for

sustainable recreation and decent livelihoods for those who made a living

from the sea.

“As such, Barbados is committed to a Roofs-to-Reefs model, as we strive

for a sustainable balance in our new development trajectory,” he said,

explaining that the ocean could not be protected if the damage on the

land was ignored.

The Minister pointed out that the newly formed Ministry would focus its

attention on transportation and logistics, housing and hospitality and

health and nutrition within the short to medium term, as it seeks to build

out the blue economy.

In addition, a number of strategic interventions required were also

highlighted during the address. These include the establishment of a

Maritime Training Institute and a network of marine management areas;

enhancing the regulatory framework and infrastructure for the maritime

transportation sector in line with international obligations; enhancing the

governance framework for the Fisheries Sector and the establishment of a

Real-time Ocean Research and Observations Systems Programme.

“Partnership and cooperation will be critical in all our blue pursuits.

Barbados, therefore, stands ready to share its knowledge and best

practices with other countries in this regard,” Humphrey said.

However, he pointed out that as a middle income country, and large

ocean state, the means of implementation remained critical, with one of

the challenges being access to concessional resources.

It was in this vein that the Minister said Barbados was keen to explore the

establishment of an international marine mechanism equivalent to the

REDD+ for forests. REDD+ stands for countries’ efforts to Reduce Emissions

from Deforestation and forest Degradation and foster conservation,

sustainable management of forests, and enhancement of forest carbon

stocks.

He explained this would be used as a funding tool for accessing financial

resources to support the sustainable use and management of the

Exclusive Economic Zone, which in Barbados and for small-island

developing states exceeds the terrestrial space.

“This is a moment in time that we cannot miss. The collective conscience

of the world has now converged on the idea that to save and advance

the interests of all people we must save and advance the interest of the

ocean, which is the life blood of our planet,” Humphrey concluded.

<< Back to news headlines >>

Consumers to pay less for petroleum products Sunday 2nd December, 2018 – Barbados today

Consumers will be paying less for gasoline, diesel, kerosene and Liquefied

Petroleum Gas (LPG) effective midnight Sunday.

The retail price of gasoline will be adjusted from Bds$3.91 per litre to

Bds$3.71 per litre, a reduction of 0.20 cents.

The price of diesel has decreased by three cents per litre, moving from

$3.20 per litre to $3.17 per litre while kerosene will retail at $1.44 per litre

down from $1.54 per litre, a reduction of 0.10 cents.

Similarly, there will be a decrease in the price of LPG. The LPG 100lbs

cylinder will retail for $163.07, down from $168.42, a reduction of $5.35. The

price of the LPG 25lbs cylinder will now be sold at $45.87, a decrease of

$1.33. The cost of the 22lbs LPG cylinder will drop from $41.71 to $40.53, a

reduction of $1.18; and the 20lbs LPG cylinder will retail at $36.84 down

from $37.91, a decrease of $1.07.

These price adjustments are in keeping with Government’s policy of

allowing retail prices to be reflective of those on the international market.

<< Back to news headlines >>

Jamaica Tops World Travel Awards Monday 3rd December, 2018 – Jamaica Gleaner

Jamaica and Jamaican companies emerged the big winners at the

World Travel Awards (WTA) Grand Finale Gala Ceremony in Lisbon,

Portugal, on Saturday night, winning eight of the coveted awards.

Notably, Jamaica received the World's Leading Beach Destination and

World's Leading Cruise Destination for 2018.

In highlighting the significance of the awards, Minister of Tourism Edmund

Bartlett, who, along with chairman of the Jamaica Tourist Board, John

Lynch, was present at the event, said, "I am truly proud to have been able

to share in this moment. It highlights that Jamaica's tourism product is of

the highest quality and remains top of mind for millions of visitors who

come to our shores. Jamaica competed with the best of the best across

the globe and has emerged a global winner, an acknowledgement of

the hard work and innovation being done in the sector."

Delano Seiveright, senior adviser and strategist in the tourism ministry,

noted that several Jamaican entities received the remaining awards.

Among them:

- World's Leading Luxury Hotel Villa, 2018 - Fleming Villa at GoldenEye

- World's Leading Villa Resort 2018 - Round Hill Hotel & Villas

- World's Leading All-inclusive Company 2018 - Sandals Resorts

International

- World's Leading Family Resort Brand 2018 - Beaches Resorts

- World's Leading Caribbean Attraction Company 2018 - Island Routes

Caribbean Adventures

- World's Leading Adventure Tour Operator 2018 - Chukka Caribbean

Adventures

The event marked the climax of the WTA Grand Tour 2018 - an annual

search for the finest travel and tourism organisations in the world.

Government and industry leaders, luminaries, and international print and

broadcast media from across the globe were in attendance. The WTA

was established in 1993 to acknowledge, reward and celebrate

excellence across all sectors of the tourism industry.

"Jamaica is poised for exponential growth in tourism and with this growth

we will seek to be more innovative and provide more to our discerning

visitors who come to get a taste of all the things we have to offer," the

minister pointed out.

Bartlett will travel to Istanbul, Turkey, to speak at the third UNWTO-UNESCO

World Conference on 'Tourism and Culture: For the Benefit of All', which

will be hosted by the government of Turkey from December 3-5.

He returns to Jamaica on Thursday.

<< Back to news headlines >>

Wigton Windfarm to list on JSE Monday 3rd December, 2018 – Jamaica Observer

THE Wigton Windfarm (WWF) initial public offering (IPO) on the Jamaica

Stock Exchange (JSE) is expected for March 2019.

General Manager of Public-Private Partnerships and Privatisation Services

at the Development Bank of Jamaica (DBJ) Denise Arana noted that the

process is progressing smoothly and IPO activities will commence once

the JN Fund Managers (JNFM) Limited debt refinancing process is

completed.

JNFM, a licensed securities dealer and full service investment manager,

was chosen through a request for proposal process offered by the DBJ to

assist Wigton refinance its Petrocaribe loan.

“The refinancing is an important initial step that will restructure the

balance sheet of the Wigton Windfarm to manage the foreign exchange

risk it has now. I think this initial step will be very important in positioning

Wigton as a very successful transaction,” she said.

Arana added that the terms of the offer are not yet finalised, “so we're still

in that process of determining what that optimal (IPO) offer is that will

maximise the value for government as shareholder”.

She was speaking to JIS News following a tour of the wind farm in Rose Hill,

South Manchester on Friday. Teams from the DBJ and JNFM participated

in the tour.

Wigton, a subsidiary of the Petroleum Corporation of Jamaica, is the

largest wind energy facility in the English-speaking Caribbean and was

built by the Government to help diversify Jamaica's energy mix.

The company began operating in 2004 with the commissioning of a 20.7

megawatt-generating plant, Wigton I.

This was followed by the development of Wigton II in 2010, which

generates 18 megawatts of energy. Wigton III, the 24-megawatt

expansion of the facility, was commissioned into service in June 2016 by

Prime Minister Andrew Holness.

Once listed on the JSE, Wigton will be the second energy-related

company on the market.

Arana indicated that Jamaicans will have an opportunity to purchase

shares in the company once it becomes listed.

Deputy general manager of JNFM Limited, Jermaine Deans, said the

refinancing process is important to the IPO.

Through that process, approximately $7 billion (US$52 million) will be

refinanced through a series of senior secured bonds which will be

supported by a debenture setting out a floating charge over all fixed and

floating assets belonging to Wigton.

The refinancing will allow the funds to be repaid to the Petrocaribe

Development Fund to be redeployed to other areas for growth

inducement.

“We're interested in renewable energy. It is something that we started

looking at about a year and a half ago, and we're doing this with Wigton.

We also currently have the MPC Clean Energy Fund IPO in the market

space [which] is also in the renewable energy and this is in Jamaica,

Costa Rica and there are going to be some other projects across Latin

America and the Caribbean. We see it (renewable energy) as the way to

go,” said Deans.

“The United States and Europe have already gone that way quite a bit

and the Caribbean is somewhat lagging and we're catching up,” he

continued.

<< Back to news headlines >>

Grenada PM not surprised by Scotiabank sale Sunday 2nd December, 2018 – Jamaica Observer

Grenada Prime Minister Dr Keith Mitchell says he was not surprised at the

decision by Scotiabank to sell its operations in nine Caribbean countries,

saying he was also happy to see a Caribbean institution “playing an even

bigger role in the banking system”.

The Trinidad-based Republic Financial Holdings Limited (RFHL) said

Tuesday it had entered into an agreement to acquire Scotiabank's

banking operations in nine Caribbean countries.

An RFHL statement said that the banks being acquired are located in

Guyana, St Maarten, Anguilla, Antigua and Barbuda, Dominica,

Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.

It said that the purchase price is US$123 million, which represents US$25

million consideration for total shareholding of Scotiabank Anguilla Ltd; and

a premium of US$98 million over net asset value for operations in the

remaining eight countries.

But while Antigua and Barbuda Prime Minister Gaston Browne said his

Administration would not be issuing a vesting order to facilitate the sale,

Mitchell, who is also the finance minister in Grenada, said he would not

move to block the sale.

“I am happy to see a Caribbean institution playing an even bigger role in

the banking system in this country,” Mitchell said, noting that while he

lamented the fact that the Canadian bank was moving out, he was also

very supportive of competition.

“While we see less competition, the fact is we still have diversity in the

banking sector,” he said, noting that the Co-operative Bank in Grenada is

the largest bank in his country.

“And it happens to be not just Caribbean owned, but locally owned.”

Mitchell said he believed Scotiabank had signalled its intention to move

out some time ago, recalling he had discussions with senior officials

recently and the answer given had indicated to him that the bank was

looking outward.

““So I think we have to understand what is happening in the Caribbean. If

one understood what was happening in the region, that was not

something you would say that surprised us. It did not surprise me and I did

indicate when I heard certain comments made not long ago by a

leading director from the Bank of Nova Scotia, when I asked him about

investment and the answer he gave.

“I was not surprised by the results I saw,” he said, adding that he had been

informed of the proposed sale before the announcement was made”.

Meanwhile, the governor of the Central Bank of Barbados, Cleviston

Haynes said the recent manoeuvres by the insurance company, Sagicor

and Scotiabank are indications that these global institutions are

reappraising their future development.

Stephen Bagnarol, Scotiatbank's senior vice president and head of the

Caribbean South and East, said the financial institution was pleased to be

entering into a partnership with the regional insurance company, Sagicor,

to provide products to its clients.

Haynes said the region needs to recognise that it is operating in a global

economy.

“What we have in the Caribbean generally are very small enterprises, and

to be successful globally you really need critical mass. And I suspect that is

part of the decision-making which….Sagicor may have made in coming

to their decision whereas banking in the region, particularly post the

global financial crisis, has not been seen as being very profitable to some,

particularly the Canadian banks who see significant risks but perhaps not

seeing the type of earning which they would want to make.”

Haynes said that though the moves by both Sagicor and Scotiabank

represent business transactions in the best interest of large corporate

entities, it is an unfortunate development for the region.

“The region has benefited all through the global financial crisis and more

recently with the de-risking initiatives being taken on having these large

Canadian banks in our presence.

“There are things we may not like, there are often criticisms of the pricing

of the banks and so on, but I think as regional economies, having

Canadian banks [in our] presence has been to our benefit and therefore

there must be a little concern where, as a region, it appears that we are

beginning to lose some of these banks, and therefore it is something we

have to look at very carefully — but we also have to recognise it in the

context of the global repositioning of large corporate entitites,” Haynes

said.

<< Back to news headlines >>

Thousands of farmers to receive US$ support in 2019 Monday 3rd December, 2018 – Jamaica Observer

JAMAICA'S agriculture and rural tourism sectors are expected to get a

boost from a US$60-million injection under phase two of the World Bank-

funded Rural Economic Development Initiative (REDI) in 2019.

The project is supported by the Food and Agriculture Organization

Investment Centre Division and is geared towards enhancing agricultural

productivity, agro-processing and rural tourism.

Phase one of REDI changed the lives of over 5,000 Jamaicans and

created direct employment for over 1,400. It also contributed to the

recorded growth in Jamaica's agricultural output in 2016 and lowering the

country's food import bill by US$6 million.

REDI2, as the second phase is being called, is expected to strengthen

linkages between Jamaica's agriculture and tourism sectors by enhancing

market access and climate resilience of micro, small and medium-sized

agriculture and community tourism enterprises. Rural producers and

service providers will gain increased access to climate-smart technologies

to improve their productivity and receive improvements to basic

infrastructure and agro-logistics for enhanced market access,

incorporating critical climate-resilient infrastructure to promote

sustainability.

In addition to this project, FAO's Investment Centre Division is supporting

the development of an irrigation project funded by the Caribbean

Development Bank (CDB) following the Essex Valley Agriculture

Development Project prepared in 2016. Under the Essex Valley project,

the lives of over 700 farmers stand to be improved through an introduction

to modern irrigation techniques, post-harvest facilities and compliance

with food safety standards on approximately 1,700 acres of land.

The second project will target an additional 1, 500 acres of land in the

parishes of St Catherine and Clarendon.

Roble Sabrie, economist at FAO noted that “FAO's support has been

critical in the project design and economic evaluation of the prospected

benefits that will be generated by both new projects that will help in

addressing policy issues and form an integral part of the Government's

efforts to support smallholders and modernise the sector.”

The CDB project will enhance the productivity of farmers in areas formerly

used as banana and sugar plantations. Implementation of the projects

will be guided by a feasibility study that will establish the area needs, the

boundaries of the intervention and other technical aspects including an

irrigation system, drainage intervention and associated production and

marketing systems.

“The two projects, totalling US$60 million, could also have interesting

interlinkages and cross-support each other due to FAO support during

implementation” Sabrie added.

The FAO said it expects that once these projects get off the ground, the

agriculture and rural sectors will expand and will foster the potential for

increasing trade and investment in Jamaican agriculture.

<< Back to news headlines >>

Grenada to launch US$42m water resiliency project Monday 3rd December, 2018 – Jamaica Observer

PORT-OF-SPAIN, Trinidad (IPS) Water-scarce Grenadians will soon get some

relief through a Green Climate Fund (GCF)-approved project to be

launched next year that will make Grenada's water sector more resilient

to the impacts of climate change.

Currently, several households in the 134-square mile island in the Eastern

Caribbean find themselves unable to pursue activities at their leisure

because of water constraints.

“At certain times of the year people have to reach home at a particular

time to fill water containers for use,” said Titus Antoine, acting head of the

Economic and Technical Cooperation Department in Grenada.

He told IPS that while some communities in Grenada have a “good,

consistent flow of water,” others, particularly in the southern tip of the

island where residential and tourism accommodation density are high,

suffer “a general shortage”.

That part of the island is the most “water starved”, Antoine said, “because

of the erratic rainfall, limited water storage and the high demand when

the tourism sector sometimes competes with residential demand.”

The Climate Resilience in Grenada's Water Sector (G-Crews) project,

whose US$42- million budget will be mostly met by the US$35-million grant

from the GCF, is designed to tackle water issues brought about by climate

change. Among the various components of the project are a challenge

fund for two of the biggest users of water in the island, agriculture and

tourism; expanding the infrastructure of the island's National Water and

Sewerage Authority (NAWASA); and retrofitting existing infrastructure to

reduce leaks in the distribution system, as well as to better cope with

extreme weather events such as hurricanes.

“The overall goal is to increase systemic climate change resilience in

Grenada's water sector. What that means in practice is to both increase

the water supply that is available as well as to strategically lower water

demand in many sectors, particularly during the dry season. What is

needed in order to achieve that is to improve water resource

management, to increase water use efficiency, and to enhance the

Grenadian water infrastructure,” said Dieter Rothenberger, the head of

Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ)'s climate

change projects in Grenada. GIZ is the implementing partner for the G-

Crews project.

Grenada approached the GCF in partnership with GIZ for funding for the

water resilience project because “water is one of the sectors the most

negatively affected by climate change,” Antoine said, “with increased

drought conditions and changes in the availability of fresh water. There is

less rainfall. And when it does come, the timing and heavy type of rain

wreaks havoc on the farming sector”.

After widespread consultation, Grenada decided water was a priority

area that “if not addressed, it [would inhibit] regular economic

development”, particularly in relation to the farming and tourism sectors,

Antoine said

The G-Crews project, which runs from 2019 to 2023, is part of a much

larger climate change initiative by the Grenada Government, known as

the Integrated Climate Change Adaptation Strategies (ICCAS) project.

That initiative has involved the Grenada government working with Giz and

the United Nations Development Programme since 2013. “[ICCAS] was

about mainstreaming climate adaptation issues within sectors like

agriculture, coastal zone management, and indeed water…”

Rothenberger said.

One of the goals of the G-Crews project — to strengthen the adaptive

capacity and reduce the exposure of households, farmers and tourism

businesses to the impacts of climate change on water supply has led to

the creation of a challenge fund. This fund will help “to make sure the

private sector, in particular tourism stakeholders and farmers, are

benefiting from G-Crews, but are also contributing in making Grenada

climate resilient. This challenge fund will be managed by the Grenada

Development Bank (GDB),” Rothenberger told IPS by e-mail.

Antoine explained that the challenge fund will provide grants to the

tourism and agriculture sectors covering up to 50 per cent of the cost “to

adopt technology for greater efficiency in water use”.

“It will allow the tourism sector to retool in terms of water efficiency and it

will allow farmers to be able to purchase irrigation technology that will

make better use of scarce resources,” he added.

The water resiliency project will also extend NAWASA's existing water

storage capacity at strategic locations throughout the island. This

increased storage will make accommodation for reduced or erratic

precipitation, increased temperatures and salt-water intrusion due to sea

level rise.

In addition, “the current storage capacity for water in the event of a

hurricane is up to three days,” Antoine said. “This project will move that to

three weeks' capacity.” It will also help Grenada meet the global

Sustainable Development Goals for water, he added.

A criterion for funding by GCF is a project's modalities for continuation and

sustainability, Antoine said. “Grenada is accustomed to handling these

types of projects, and we do have the local capacity” for ensuring its

viability, he said.

“Over US$42 million is a major investment in Grenada's context,” he

added. “There are other mechanisms out there for financing, but the GCF

was particularly attractive because of the scope of this project. We saw it

as a natural fit since it provided the opportunity to provide the scale of

investment we wanted to have. We partnered with Giz, which is an

accredited entity with the GCF.”

“The Green Climate Fund only supports projects which can prove to be

highly climate relevant,” Rothenberger said. “This means that you have to

convincingly show that the project will solve a challenge induced by

climate change impacts now, but particularly in the future….That meant

taking into account how climate change will impact the water sector in

the future, including future water availability and scarcity. This was done

by using existing regional climate models and fine-tuning and updating

them for Grenada.

'The result of the modelling was that the conditions, including water

availability, which Grenada had in the most serious recent drought in

2009/2010 will be the new climate normal in 2050. So the interventions

were designed in a way to ensure that Grenada's water sector can deal

with such conditions as the new normal. In that sense, Crews addresses

both present as well as future challenges,” Rothenberger said.

<< Back to news headlines >>

EU calls for concrete, substantial changes to Italy budget Monday 3rd December, 2018 – Reuters

The European Union executive welcomed on Monday a change of tone

from Italy in its dispute with the bloc over its excessively expansionary 2019

budget, but called for concrete, substantial changes before halting

disciplinary action.

“We are currently in intensive discussions with Italian authorities ... so now I

would say the ball is on Italy’s side whether Italy comes with substantial

adjustments to the 2019 plan,” European Commission Vice President

Valdis Dombrovskis said.

“It is positive that the tone of discussion has changed but it is also

necessary that there is a substantial adjustment to the 2019 budget,” he

said on entering a meeting of euro zone finance ministers where Italy’s

budget will be one of those discussed.

<< Back to news headlines >>

China says U.S., China working toward removing all tariffs Monday 3rd December, 2018 – Reuters

China’s foreign ministry said on Monday that the Chinese and U.S.

presidents instructed their economic teams to work toward removing all

tariffs, following a meeting in Argentina where the two leaders agreed to

a truce in their trade war.

Ministry spokesman Geng Shuang made the comment at a daily news

briefing in Beijing.

<< Back to news headlines >>

Income Tax Bill passed Saturday 1st December, 2018 – Trinidad Express Newspapers

IN A drastic and desperate move, the Government butchered the

controversial Income Tax (Amendment) Bill, deleting all clauses that

required Opposition support to ensure its passage.

The bill, which the Government said was crucial to avoid this country

becoming blacklisted and was necessary to ensure international financial

transactions are not hampered, was passed just before 9 p.m. with all

Government members voting for it and all Opposition members voting

against it. The final vote was 19-14.

After hours of debate on the motion for the Lower House to adopt the

report of the Special Select Committee (SSC) on the bill, it was taken back

into the committee stage of the Parliament.

It was here that the drama unfolded.

Attorney General Faris Al-Rawi asked whether the Opposition supported

the bill.

Opposition Leader Kamla Persad-Bissessar had said the Opposition shared

its concerns with the bill and would not support it.

Finance Minister Colm Imbert said under those circumstances, since the

Government did not have 26 votes, it would delete clause two which

required a three-fifths vote.

Opposition MP Dr Roodal Moonilal asked whether he heard Imbert right.

'Is the Minister of Finance saying...that because the Government doesn't

have the constitutional majority, they are deleting the provision for

constitutional majority. Is that correct?' he asked.

Imbert replied that because Persad-Bissessar said 'emphatically and

unambiguously' that they did not support the bill in its current form, the

Government would therefore pass what it could with its own majority.

The AG said the Government would delete all the provisions that required

a constitutional majority.

Al-Rawi went on to slam the Opposition for its failure to support the bill,

saying that the clauses were almost identical to what was in the FATCA

legislation which was unanimously passed.

Framework in place

Persad-Bissessar said this was not FATCA but the Income Tax

(Amendment) Bill.

She said there was a whole framework in place in the FATCA legislation.

She said she was 'baffled' by the AG's argument that the Income Tax

(Amendment) Bill must be passed before agreements were signed. She

said international law dictated that an international agreement be

signed, then the country might or might not ratify it and then domesticate

it into law.

'To say that this is identical to FATCA, that we are being illogical and

inconsistent, I do not accept that argument,' she said.

Al-Rawi and Imbert held a news conference following the passage of the

legislation to explain why the Government took measures to delete parts

of the bill.

The Attorney General said the Government needed to give this country a

'fighting chance' as they did the best they could.

He said the deadline to meet FATF (Financial Action Task Force)

obligations was November 30 (yesterday) and now that the bill has been

passed it could report to them and ask for re-ratings.

Imbert said further that the Global Forum would turn its attention to this

country when the bill is enacted and a meeting is expected to take place

in January.

The Income Tax (Amendment) Bill is scheduled to move to the Senate next

week for debate.

<< Back to news headlines >>

Chaotic end to Petrotrin Saturday 1st December, 2018 – Trinidad Express Newspapers

PETROTRIN'S management had hoped that yesterday's emotionally-

charged final hours for thousands of terminated workers would end

smoothly, as the company began a new chapter in its bid to become

profitable.

Instead, it was a day filled with chaotic scenes at the company's refinery

operations at Pointe-a-Pierre, its tank farm and port facilities at Trinmar,

Point Fortin, and at its facilities in Santa Flora.

In Santa Flora, a fire destroyed a cafeteria; workers refused to leave

Trinmar's compound, saying they were not fairly compensated and in

Pointe-a-Pierre, several workers locked themselves into the canteen area.

In Santa Flora, they blockaded the roads leading to the facility and

locked themselves in.

No one stopped them.

At all the facilities, the highly- paid and well-trained Petrotrin estate

security guards walked off the job hours before the privately hired

Amalgamated Security Services officers took charge.

As a result there was a surreal scene, since for the first time in decades,

there was no one securing the company's normally high-security, fortified

assets across south Trinidad.

Police officers were hastily rostered to the locations, until officers from

Amalgamated took charge.

At Pointe-a-Pierre, the Express found an empty guard booth leading to

the company's main administrative building at 3 p.m. Anyone had access.

For the workers, many wept openly as memories were shared with co-

workers who had become friends and family. Men and women, many of

them second and third generation Petrotrin employees, assembled at

various locations with their bags of office belongings, ready to head

home.

Attractive packages?

For most of the day, the transition appeared to be proceeding without

incident.

However, around 1 p.m. some fired workers called a press conference at

Paria Suites, La Romaine.

And for the first time, the media heard formally from workers themselves,

not their mouthpiece - the executives of the Oilfields Workers' Trade Union

(OWTU).

The workers spoke about the importance of their jobs to the economy,

and said they wanted to debunk the claims made by Government

politicians that Petrotrin employees were overpaid, under-worked,

overstaffed, and had contributed to the death of Petrotrin's once

priceless refinery operations.

They claimed that the Government and company chairman Wilfred

Espinet had shared misinformation with the public and that the

perception was that workers were being given 'attractive packages' as

the company closed.

Spokesperson Gabriel O'Sauna said the shutdown was not due to the

workers but rather, poor management by the board of directors and

executives, both present and past.

He said the information circulating in the public domain about workers'

salaries was untrue.

O'Sauna said janitorial services are subcontracted within Petrotrin, and the

rate was between $15-20 per hour. It was not true that a cleaner earned

$10,000 a month, he said.

He said those making over $40,000 monthly belong to middle and upper

management.

'The facts of the matter remain that we are not responsible for the

financial decisions that were made that caused the company to be in the

state that it is in and that we the workers have to pay. To date I have not

received salary for two weeks. We are yet to received our severance

packages.'

O'Sauna who had been employed as an estate constable for 11 years

said he received some $138,000 which amounted to one month's salary

for each year worked.

Shawn Mootoo said he was a temporary worker at the company for some

30 years and was nearing retirement. He said the closure was difficult for

him, adding that the company has not fairly compensated the workers

who has spent years building the company.

Trouble starts

At around 2 p.m. news emerged that workers had been sent an e-mail

that they must submit their 2017 tax returns before they could receive full

outstanding payments.

An internal release stated: 'The process of granting the tax exemption to

every employee could take some time. Accordingly, to avoid any delay

in making the termination payments, where information/ documentation

is outstanding to the BIR, the Board of Directors has instructed Petrotrin, as

the employer, to ensure on-time termination payments by withholding

taxes on the full amount and holding these in escrow until confirmation of

each employee's tax status is received.'

This angered workers.

They would not be leaving until the company assured that they got their

monthly salaries for November, and their pensions and severance, said

OWTU Chief Education and Research Officer Ozzy Warwick.

'Workers are very angry. They cannot take any press release about money

to the bank or grocery. They will stay there as long as it takes. Where is

that money they claim they made to workers?'

The workers were on the compound up to late last night.

Warwick was referring to a press statement issued by Petrotrin yesterday

afternoon, outlining the billions paid out to terminated workers, and

explaining why some payments were being withheld.

Petrotrin: $2.7b in exit payments

Petrotrin yesterday stated in a release that it had disbursed $2.7 billion in

exit payments to its employees, but some employees would have to wait

until Monday for the funds to reach their accounts.

The release added: 'The payments disbursed comprised $1.8 billion in

termination packages; $201 million for outstanding vacation; $560 million

in back pay; $150 million for medical and other benefits; and $55 million in

payments for outstanding promotions. All 3,400 permanent employees will

receive exit payments and 1,229 or 55% of the company's temporary

workers received ex gratia payments.

'Chairman Wilfred Espinet said: 'This is a difficult time for all concerned and

we hope that everyone affected is able to establish a positive and secure

future for themselves.''

Given the size of the disbursement and the mix of payments, the funds

would not reach all employees accounts before midnight on November

30.

To avoid delays in disbursing the payments, Petrotrin has withheld the

employees' potential tax liability and placed these funds in escrow. The

company will remit the withheld funds once employees have satisfied the

Board of Inland Revenue that their taxes are up-to-date.

'Following the closure of operations, the Company will continue to ensure

that affected persons and their families will have access to support

services for the next six months – services include stress management,

change management and financial counselling.'

<< Back to news headlines >>

Single employee for Guaracara Refining Company Saturday 1st December, 2018 – Trinidad Express Newspapers

THE Guaracara Refining Company is to have one employee.

But the 'core' (Petrotrin) company, the Heritage Petroleum Company, has

hired 39 senior and middle managers, 16 of whom were former workers of

Petrotrin, Energy Minister Franklin Khan said yesterday.

He said the remaining 23 employees at Heritage were new to the

company.

Khan was responding to an urgent question from Couva South MP Rudy

Indarsingh in the House of Representatives. He said Paria Fuel Trading

Company has employed three senior managers, two of whom were

former Petrotrin employees and one was new. He said nobody has been

employed with Guaracara Refining Company Limited 'because that

company will be the custodian of the refinery assets and there would be

very limited employment in that company. There will just be a custodian

and that employment will take place very shortly'.

Khan disclosed that while there were no one employed with Guaracara,

a third-party service contract had been awarded and therefore there

was staff monitoring and supervising and doing maintenance work at the

refinery 'as we speak'. The award given via a public RFP was won by

Damus Limited.

Asked about the terms and conditions of the employees at Heritage and

Paria, Khan said they should be confidential.

Asked whether employees who contributed to the Petrotrin Employees

Pension Plan were all given benefit statements prior to the date of closure,

Khan said individual benefits were issued to all employees prior to the

closure date (November 30). He however was unable to say whether

these benefit statements had been audited. He said the retirees were

receiving their benefits.

<< Back to news headlines >>

Guards abandon Petrotrin posts Saturday 1st December, 2018 – Trinidad Express Newspapers

AMALGAMATED SECURITY SERVICES has taken charge of securing the

assets of Petrotrin.

The Express was told Amalgamated was scheduled to take over at 6 p.m.

yesterday.

However, the estate constables working with Petrotrin walked off the job

before 3 p.m. at facilities across south Trinidad.

For several hours, anyone and everyone had access to the facilities.

The security switch forms part of the Government's decision to shut down

the debt-ridden refinery operations at Pointe-a-Pierre. The Heritage

Petroleum Company Ltd, which will deal with exploration and the Paria

Fuel Trading Company, which will be involved in energy trading, will come

on stream soon after.

However Petrotrin estate police officers are concerned.

The Express was told that officers, including those at the gates, have to be

International Shipping Port Security (ISPF) trained.

'They (Amalgamated officers) don't have the competency to conduct

certain legal requirements to be ISPF-compliant. The only unit that has

been given authority by the Trinidad and Tobago Coast Guard to operate

on the sea is Petrotrin police. We are all patiently waiting to see what is

next,' one officer said.

Concerning operations at the Marine Unit, the Express was told by a

former officer, 'You have to have an emergency plan, among other plans,

to give to the Coast Guard to approve the port and without that

approval, you can't do any trade with any US port.'

While it was said that there may be an attempt to use the present plan, it

however does not include Amalgamated Security Services to operate on

the sea. Initiatives were said to be in the process of being fast tracked as

the new company will have to provide a plan to the Coast Guard.

However, the concerns were dismissed by Robert Bauer, Amalgamated's

Group Marketing Manager who said, 'Every requirement for this job is met.

We are properly oriented and trained for the job.'

Petrotrin police: We are specially trained The Express was told that unlike

the new officers, Petrotrin estate police consists of detectives who were

specially trained with the Inter Agency Task Force. 'We can secure a crime

scene and also have bomb search technicians and even a certified

deep-sea diver, a shooting team and certified drill and firearm instructors,'

a former officer said.

The specially trained officers collected monthly salaries of $14,000 for a

constable, $16,000 for a corporal and $18,500 for a sergeant. They were

stationed at Guayaguayare, Penal, Forest Reserve, Santa Flora, Pointe-a-

Pierre and Point Fortin.

The Amalgamated officers will be working for between $18 to $24 per

hour.

While some of the officers were offered positions with Amalgamated they

said that the salaries were not commensurate with their skills. 'We have so

many roles and responsibilities,' one said.

<< Back to news headlines >>

5 charged with fraud Saturday 1st December, 2018 – Trinidad Express Newspapers

THE level of fraud in the flood relief programme is 40 per cent, Prime

Minister Dr Keith Rowley said on Thursday night.

He said the early 'rough assessment' was that some $25 million was

required for relief claims following extensive flooding in the country

recently.

He said the next thing he knew was that 'because of the ease with which

we were facilitating the claims made by those who were affected', the

Minister of Finance informed him that $84 million had been paid out in

flood relief.

He said subsequently the Minister of Social Development informed him

that there were claims amounting to $118 million.

'But in the meantime the police reach and the police start picking up

those who were tiefing the money that was meant for the least of the

apostles. (On Thursday) I asked the Minister what has been done with

respect to the audit because right now the Ministry of Finance is auditing

that (programme)...Because as the outpouring of sympathy grew in the

national community, like the scampishness grew equally.

'The Minister of Family Services told me that when they audited, having

dealt with the claims as expeditiously as possible so as to bring relief as

swiftly as possible, and the public service was handling that, they discover

that the level of fraud in that programme was 40 per cent.'

Speaking at a PNM meeting at City Hall in Port of Spain Thursday evening,

Rowley said: 'That is now a matter for the Ministry of Finance and the audit

and the police. Because there are people amongst us who have

accepted that misconduct of that nature is normal. That is what I have

been saying. People are telling their children, 'we don't mind if the

government tiefing as long as we getting something'. That is becoming

our society. For heaven's sake, reject that!'

Five charged

Fraud Squad officers laid charges against five people who allegedly

defrauded Government of thousands of dollars in relief funds meant to

assist those directly affected by the recent nationwide flooding. The

charges were laid on Thursday, bringing to 13 the number of people who

have so far been charged with participating in the scam.

Among the five is an employee of the Ministry of Social Development and

Family Services who was among a group of nine that recently appeared

in the Port of Spain Magistrates' Court charged with the offence.

Even though the charges were laid on Thursday, the accused were not

taken to court yesterday. Instead, officers said they will make an

appearance in the First Court on Monday morning. The offences for which

they are charged are alleged to have taken place between October 25

and November 13 in Port of Spain.

So far, the State has distributed close to $84 million to more than 5,000

families that were directly affected by the flooding.

<< Back to news headlines >>

Court orders Elias to repay Imbert $46m Saturday 1st December, 2018 – Trinidad Express Newspapers

AFTER close to 19 years of legal battle, the Appeal Court has ordered that

contractor Emile Elias repay Finance Minister Colm Imbert a mammoth

$46 million stemming from a breach of contract lawsuit that was filed by

Elias, involving work done by Imbert's company on the Grenada National

Stadium in 1997.

The order was made by a three-judge panel, at the Hall of Justice in Port

of Spain, after the court overturned a previous ruling delivered in the High

Court last year in favour of Elias.

Initially, the contractor was seeking approximately $17 million which he

said was owed to him after Imbert's company [National Stadium

(Grenada) Corporation (NS)] reneged on a contractual agreement

during the construction of the stadium.

Last November, a High Court judge ruled in favour of Elias, ordering that

the Finance Minister pay $44 million, inclusive of interest. That money was

being held in escrow at the Unit Trust Corporation until the completion of

the matter.

But in the latest ruling, the Court of Appeal panel, which comprised

Justices Peter Jamadar, Nolan Bereaux and Charmaine Pemberton,

reversed the previous decision, ordering Elias to repay the $44 million, plus

$2 million in interest. That payment is to be made within 42 days. In

addition to the $46 million, Elias was also ordered to pay Imbert's legal

costs in defending the claim. The lawsuit was brought by Elias against

Imbert's construction firm, ICS (Grenada) Ltd, Clico Investment Bank (CIB)

and NS, which was formed by Imbert to hold lease to the stadium in

Grenada.

Elias claimed that during the course of the works, the company refused to

carry out some of its contractual obligations and also refused to repay the

$17 million.

'Long, winding and chequered history'

In delivering the 60-page ruling, Justice Pemberton described the matter

as one that had a 'long, winding and chequered history', which was

heard in various courts in Grenada, Carriacou, Petit Martinque and

Trinidad and Tobago.

The judge said there was no trust created for the benefit of ICS which

would have granted rights to it capable of being assigned to NH. She

went on to say that ICS acquired no rights under the facility agreement

that was assigned to NH.

'It would therefore be that NS, the other entity named in the facility

agreement and the entity charged with administering the obligations to

finance the project, will be entitled to any remaining fund since they were

incorporated by ICS, as the arm and responsible authority for providing

financing of the project.'

Pemberton said there were no other possible beneficiaries to the funds

generated under the facility agreement, and since CIB made no claim to

the funds, the only other party to the agreement was NS.

'NH is not contemplated as a beneficiary to these funds. If NH was to

benefit from the funds generated under the facility agreement, that

needed to have been stated clearly in the facility agreement,' she said.

Attorneys Simon Hughes QC and Annabelle Sooklal appeared for Imbert

while Alvin Fitzpatrick SC, Lesley Ann Lucky-Samaroo, Shiv Sharma and

Adrian Byrne appeared for Elias.

<< Back to news headlines >>

Rice farmers referred to Fraud Squad Saturday 1st December, 2018 – Trinidad Express Newspapers

INFLATED claims for compensation due to flooding by some rice farmers

have been referred to the Fraud Squad, Agriculture Minister Clarence

Rambharat said yesterday.

In a news release, the minister addressed accusations by some farmers in

Central Trinidad that Government's failure to issue compensation, for

losses suffered following massive flooding around the country on October

21, is threatening their livelihoods.

During a small protest outside the Ministry of Agriculture, in Chaguanas, on

Wednesday, the farmers lamented a series of problems facing the industry

and said Government could further destabilise it by failing to compensate

them.

This has been challenged by Rambharat, who said some claimants

appeared to have nearly doubled their acreage in applying.

'Following the October 2018 flooding, I personally visited rice farmers in

Chaguanas West accompanied by Ganga Singh, MP, the ministry's

Caroni County officer and the extension officers attached to that area,'

Rambharat said in the release.

'Before and after that visit and my meetings with the rice farmers that day,

the ministry's Caroni office conducted visits to affected farmers and has

been receiving flood assistance claims. 'Claims submitted by certain rice

farmers from Chaguanas West and surrounding areas have been

questioned by the officers. 'For the Bejucal area where the ministry's

records show that 1,100 acres are cultivated in rice, claims have been

made for 2,200 acres.

'Farmers who are recorded as having less than 100 acres under cultivation

have claimed 700 acres.' Rambahart said multiple claims have been

made for one parcel and some farmers claimed for parcels of land which

they do not cultivate.

'These matters are being investigated by the Caroni County office and

none of these inflated claims will be submitted for consideration for flood

damage assistance,' the minister stated, adding that the decision to

question the inflated claims was 'at the heart of the small gathering

outside the ministry's head office in Chaguanas on Wednesday,

November 28'.

'I have since referred the matter to the Fraud Squad of the Trinidad and

Tobago Police Service,' Rambharat said.

Claims regarding treatment by the Agricultural Development Bank (ADB)

by one farmer at the protest, Richard Singh, were also highlighted by

Rambharat.

'On June 12, 2018, in response to two motions on the adjournment filed in

the Senate by Senator Wade Mark, I addressed several matters relating to

Mr Singh, the ADB and payments to rice farmers by the National Flour Mills.

I debunked all the misinformation in the public domain,' Rambharat said.

'In response to the more recent matters, I refer to my June 12, 2018

response in the Senate, when I said that Mr Singh received a $3.1 million

loan from ADB.

'I can now say that in October 2018 the loan was restructured, the

accounts are all up to date; the renewal included a six-month moratorium

so that interest is due March 31, 2019; and thereafter the loans have semi-

annual payments so that the next instalment will be due September 30,

2019.'

Rambharat said he disclosed the information in the public's interest, 'so

that ADB as a financial institution is not put to risk'.

'I am satisfied that ADB has gone beyond the call to address the needs of

Mr Singh,' Rambharat said.

<< Back to news headlines >>

South contractors to fix potholes for free Saturday 1st December, 2018 – Trinidad Express Newspapers

CONTRACTORS are also fed up with dealing with potholes and have

joined the 'voluntary pothole relief' project to provide assistance.

Owner of Lora Construction Ltd, Ramnarine Rajaram, will from tomorrow

start pothole patching from Debe to Penal Rock Road.

Speaking with the Express, Rajaram said from tomorrow until Christmas, as

a means of giving back to the community, his company will team up with

two other companies to fix potholes.

Rajaram said the repairs will be along the main roadways from Fun Splash

Water Park in Debe, then along Lalbeharry Trace, the roadway leading to

the Digity Volcano, Rochard Road and Rock Road in Penal.

He said he wanted to do this after seeing the distress a young woman

endured after her vehicle went into a pothole.

'She was driving in Debe, near the Fun Splash area and there was a big

pothole. She went down in it and her whole front tyre ripped off. That is

distressing for anybody. And it was time for us to do something, to really

give back in the community,' he said.

Rajaram said all the material will be purchased by the companies and 15

workers have already volunteered to start the work tomorrow.

He said the pothole repair will be a benefit for not only the community but

for him and his family who also utilise the roads.

<< Back to news headlines >>

Flow to cut channel line-up Saturday 1st December, 2018 – Trinidad Express Newspapers

CABLE provider, Flow, is removing several channels from its channel line-

up.

The company announced yesterday that effective 11.59 p.m. December

31, it will no longer air nine channels in its Caribbean markets.

They are: National Geographic, Fox Soccer Plus, Fox Deportes, Nat Geo

Wild, BBC America, CGTN, Fox Sports Racing, Fox Sports 2 and Big Ten

'While we regret that these changes have become necessary, we remain

committed to providing our customers with the very best value and

viewing experience possible, and we are working closely with our

international partners to continue to deliver the finest content,' Flow said in

a media release yesterday.

The company informed its Evo service customers that between December

1 and February 28, they will have access to a 'free preview' of two newly

added channels-Discovery Theatre and Discovery World.

It said additionally, AVS service customers will benefit from several

updated features such as a new and improved user interface, a

transformed on-demand service, along with a convenient replay feature

that allows viewers to restart any show that is already in progress.

Flow stated that its award-winning Flow-To-Go App, which is free to

download for both iOS and Android users, is also now loaded with over

100 live channels, including exclusive content such as the Premier League.

<< Back to news headlines >>

Cost of roads to rise Sunday 2nd December, 2018 – Trinidad Express Newspapers

And the price of cooking gas will be subsidised by Government to stay the

same.

Lake Asphalt, the State-owned La Brea company, will have to find a

business model to keep it in business.

These are just a few of the immediate impacts the shutdown of the

Petrotrin refinery will have in the short term.

The Sunday Express understands that the supply of bitumen - a black,

viscous mixture of hydrocarbons which is an end-product from the refinery

but a key product in the paving of roads - was cause for concern upon

the closure of the refinery as it affects two things: the supply of bitumen

which could impact on the cost and rollout of roads and the fact that

bitumen is Lake Asphalt's main business.

The Sunday Express was told that bitumen moved from $19 a gallon two

weeks ago to its present price of $28.75 a gallon, a 42 per cent increase.

In 2017, on average, 200 gallons a day were used on roads - and that was

not a year when key infrastructure roads projects such as the Manzanilla

highway extension even began utilising bitumen.

The Sunday Express spoke to several contractors who said the rising cost

will impact the price of roads.

One contractor explained that to import bitumen, contractors must have

storage facilities.

'Bitumen is 50 per cent of the cost in roads and at the moment there is a

high demand for it, so cost will increase. Lake Asphalt has already

increased its prices so that will affect the cost of doing roads,' one

contractor said.

Energy Minister Franklin Khan told the Sunday Express yesterday: 'Road

paving is critical to the Government. It will have an impact on the cost of

road paving going up but we will try to minimise it.'

Buying bitumen

Khan said Government had applied to the Council for Trade and

Economic Development, an arm of Caricom, to review the tariff on

importing bitumen. At the moment, that tariff is 30 per cent.

Bitumen can be sourced from Suriname, Barbados and Jamaica.

But Khan said contractors can import from anywhere.

Works and Transport Minister Rohan Sinanan confirmed that he called a

meeting with key contractors with asphalt plants and the Ministry of

Energy to discuss with them the provision of bitumen. In his view, bitumen

accounts for 30 per cent of the raw material for roads.

He explained that Lake Asphalt had enjoyed a virtual monopoly in the

supply and sale of bitumen but that the Government had taken a

decision to open the market to now allow contractors to import it to meet

their needs.

Sinanan noted that Lake Asphalt had increased its price but it was a

market-driven price, given that it was now importing bitumen from

Barbados to supply the local market.

'I have spoken to some contractors who have said they can get bitumen

here for $18 a gallon. If that can happen, then it should not affect the cost

of roads,' he told the Sunday Express.

Asked about fixed contracts such as the $400 million Manzanilla highway

project which was awarded to contractor Kall Co, and whether there is

the possibility of variations to those contracts now that the cost of bitumen

will increase, Sinanan said contractors will have to prove that the cost of

the bitumen increased.

Furthermore, he explained that his Ministry is engaged in competitive

tendering, which forces suppliers to compete on price, and not fixed price

tendering which existed before.

In this scenario, contractors would be competing for jobs and the

taxpayer benefits from better prices, he said.

'I expect market forces to impact on the prices but I don't anticipate the

costs of roads to go up,' he said. When questioned on whether the

importation of bitumen would impact on limited foreign exchange, he

pointed out that oil was imported to refine so this would in essence be a

re-distribution of foreign exchange.

State to subsidise LPG

To keep the cost of cooking gas stable, Khan said Government will

subsidise it by $300 million.

The Government will source LPG from Phoenix Park Gas Processors.

He explained that Petrotrin had previously absorbed the cost of the

subsidy with the Government paying a part of it.

In 2017, the subsidy on LPG was $242 million with $167 million being

absorbed by Petrotrin and $75 million by Government.

In this instance, Government will pay the subsidy directly to Phoenix Park.

Lake Asphalt's future

Lake Asphalt's chief executive Roger Wiggins conceded that the closure

of Petrotrin would be the loss of a significant supply source as Petrotrin had

been the company's sole local bitumen supplier.

'Upon the closure of Petrotrin's refinery, Lake Asphalt will acquire higher

quality bitumen from other reputable suppliers,' he told the Sunday

Express.

Wiggins doesn't believe it's the end of Lake Asphalt as a company.

'Bitumen is an integral part of Lake Asphalt's product/marketing mix. The

company will remain in the bitumen marketing and distribution business,'

he said.

<< Back to news headlines >>

SFC makes 50% jump Sunday 2nd December, 2018 – Trinidad Express Newspapers

ACTIVITY on the first-tier market increased by 64.51 per cent on a total of

2,523,811 shares crossing the floor compared to 1,534,172 shares traded in

the prior week.

The value of shares traded more than tripled, up by 201.69 per cent to

$56,911,919.46 from the previous week's value of $ 18,864,348.63.

JMMB Group Ltd (JMMBGL) was the volume leader this week capturing

15.27 per cent of the market activity or 385,494 shares traded and has

been in the top three for the past three weeks.

In second place was Sagicor Financial Corporation Ltd (SFC) with 11.59

per cent or 292,622 shares traded followed by NCB Financial Group Ltd

(NCBFG) with 10.30 per cent or 259,921 shares traded.

The indices ended the week in a mixed territory. The Composite Index

increased by 2.40 per cent or 30.00 points to close at 1,278.09. The All

Trinidad and Tobago Index decreased by 0.25 per cent or 4.20 points to

end at 1,691.10. The Cross Listed Index closed at 116.79, up by 8.26 per

cent or 8.91 points and the Small and Medium Enterprise Index closed at

100.00. Last week there were 11 stocks advancing and six stocks declining,

while four stocks are at their 52-week high and seven stocks at their 52-

week low.

The major advance was SFC up 50 per cent or $3.50 to close the week at

$10.50, its 52-week high. In second place was NCBFG with an increase of

11.44 per cent or $0.80 to end at $7.79 which was its 52-week high. In third

place was L.J. Williams Ltd B (LJWB) up 7.14 per cent or $0.05 to close at

$0.75.

Massy Holdings Ltd (MASSY) was the major decline, down 4.46 per cent or

$2.06 to end at $44.14, its 52-week low. For the second consecutive week

One Caribbean Media Ltd (OCM) was in second place, down by 2.31 per

cent or $0.26 to close at $10.99, its 52-week low. In third place was Prestige

Holdings Ltd (PHL), down by 2.00 per cent or $0.15 to end at $7.35.

There was no activity on the second-tier market last week.

On the TTD Mutual Fund Market 752,232 CLICO Investment Fund (CIF) units

traded with a value of $15,173,915.06. CIF's unit price closed at $20.20, an

increase of 0.40 per cent or $0.08. Also, 1,357 units in Calypso Macro Index

Fund (CALYP) traded with a value of $21,508.45. CALYP's unit price ended

at $15.85, unchanged from last week.

CinemaONE Ltd (CINE 1) on the Small and Medium Enterprise Market,

closed at $10 with no shares traded this week.

<< Back to news headlines >>

'Careful who you listen to' Monday 3rd December, 2018 – Trinidad Express Newspapers

RESPONDING to public pressure and media attention, the Government

hastily convened a news conference last week announcing they had

decided to take the 'unusual' step of releasing the much sought-after

Sandals MOU.

At the news conference were Minister Stuart Young and Sandals deputy

chairman Adam Stewart and CEO Gebhard Rainer.

The news conference consisted of a sales pitch by Adam Stewart of

Sandals, environmental assurances, and included a series of allegations

made by Young, in particular, regarding information published in this

newspaper, and general aspersions aimed at critics of their plans.

Foremost of these was their assertion that the graphic depicted on the

front page of the Express showing the footprint of the Sandals resort in

Buccoo was 'false', and '100 per cent fictitious', according to Stewart.

Young said: 'Sandals has just told us (at the news conference) someone

created a fictitious document, a completely false drawing that is in no

way condoned or associated with the Government or Sandals.'

That graphic in fact forms part of the CEC application file to the EMA by

the Government's special purpose company Golden Grove-Buccoo Ltd.

Their 'Preliminary Master Plan Study' graphic is on the last page of their

CEC file and forms page three of a letter dated September 13, 2018 to the

EMA.

That CEC application and letter with the graphic were sent to this

journalist by the CEO of the EMA, Hayden Romano, at my request. It is in

the public domain of the EMA library.

Immediately after that news conference, Sandals and Young were

contacted by the Express and told that in fact the 'fictitious' drawing was

from their own CEC application file. Sandals' response was swift, unlike all

previous attempts at eliciting any comment at all.

In a press release Sandals said it 'wishes to reiterate that the document

which was highlighted during the press conference was not part of the

original package of drawings presented to the Executive team for

submission to the Environmental Management Agency (EMA)'.

'Following the press conference we received a message from Mr Mark

Meredith that he was given a copy of said document from the EMA itself,

and what we have since discovered is that this was an incomplete

template which was never meant to be part of the final submission to the

EMA, and which was never seen nor presented to the executive team nor

the Government of Trinidad and Tobago.

'We are grateful that since the press briefing, it has now been brought to

our attention that this drawing, which is in essence an incomplete sketch,

was somehow included in the submissions to the EMA.'

Sandals wanted to emphasise 'that ALL drawings at this stage are not to

be taken as factual documents; they are all conceptual documents

which will be informed and guided by the EIA, which will then inform and

guide all final designs as to what is appropriate for the particular site'.

They could not explain how a document bearing the logos of Sandals

and Beaches and called a Preliminary Master Plan Study had found its

way into the CEC application. Nor did they explain how such a 'drawing'

had been drawn up at all, given it was so inaccurate.

In fact, there is another graphic of Sandals Buccoo resort that Sandals

wheeled out at the end of the conference which they have sent me. They

say it's the 'real' plan, one of the first impressions created to illustrate space

allocation. It features a 'Future Sunset Bar & Grill' plonked right at the end

of No Man's Land. Sandals, however, has denied anything will be built on

No Man's Land except a toilet.

Minister Young has labelled critics with genuine concerns about the

Sandals project in Buccoo as 'naysayers', and 'noisemakers and national

nuisances who want to provide the public with false information and

distorted reality', and warns, 'be very careful where you get your

information from'.

He is absolutely right about being careful who citizens should listen to, as

the fiasco regarding the Sandals graphic illustrates so well.

Both Mr Stewart and Mr Young said they had not been given a chance to

comment and have their say. This is also untrue. An extensive e-mail of

questions about the Sandals project was sent to Adam Stewart and Stuart

Young on November 12. A further e-mail was sent on November 13 to

Stewart to see if he had received it, along with a supplementary e-mail on

that day with questions regarding sewage and the Buccoo Reef.

No response from either ever materialised.

At the news conference, Young went on to say he 'was in complete

shock' when he saw that the project cost was estimated at $8 billion, as

reported in the Express. That the newspaper was reporting that that figure

was tied in with the airport expansion, and he gave it as an example of a

deliberate distortion of the truth. In fact, the newspaper report gave the

airport expansion figure as an additional cost. No mention was made of a

marina, contrary to what he said.

What was actually reported was that '$7–$8 billion, or at least three times

that figure' was the amount estimated for the cost of the resort by Emile

Elias, chairman of one of the largest construction companies in the

country.

The Express reported that, according to our sources' estimates, the figure

of $2.7b quoted by the government's own special purpose company for

the resort cost in their CEC application would cover construction of the

rooms only. All the other resort costs would be on top of that, hence the

$7–$8 billion figure.

Young and Stewart also professed to have no idea where the figure of 925

rooms came from. They need to look in their own CEC application and

they'll find it.

The MOU states 820 rooms.

Let us remember too that no input on this project has been offered to

Tobagonians but they will get their chance, after the fact, with the EIA

consultations.

Stewart and Young did not address the varied and real concerns that

comprised most of the four-part Express series. These were from those

people contacted in Tobago and around the world. They included

marine scientists from three continents, tour operators in Tobago, Canada,

the US and UK, tourism professionals and hotel owners, tour guides, birders,

and those concerned about building a resort in a Ramsar-listed wetland

and marine- protected area.

Nothing was heard about respecting Trinidad and Tobago's national and

international obligations, the treaties signed, the Ramsar Convention, or

the country's own National Environmental Policy, and the National

Wetland Policy that states 'no net loss'.

Instead, what we see on page three of the MOU is this paragraph: 'Secure

the expeditious processing of all approvals as may be required by Sandals

for the development and operation of the Resorts.'

In a subsequent telephone conversation with the Express, Sandals' CEO

Gebhard Rainer said: 'Everything is dependent on environmental

approvals and following the laws of the land. We are very transparent

and will be guided by the EIA. Full stop.' He added that no time limit was

set on securing the approvals. If it took two years it took two years, which

he acknowledged it could.

The EMA previously refused Angostura permission to build on the

peninsula, and disallowed the removal of mangrove, with setbacks

enforced 30 metres from both sides of the peninsula, which left Angostura

with no land to build on. How is Sandals, with its far more extensive

proposal, expected to succeed where their predecessors failed?

Rainer reiterated that everything depended on the environmental

approvals. The letter of the law.

If the EMA refused permission to build the Beaches resort alongside the

Bon Accord Lagoon and on the peninsula, would they still go ahead with

the Sandals All-inclusive resort on the Golden Grove estate? Or was it all or

nothing? Rainer said it would all depend on the commercial viability of

that scenario.

Sandals' CEO Gebhard Rainer made the following comments about

some other issues raised:

Beach access: The public would have access to No Man's Land and the

peninsula, all the way down Buccoo Beach to the village. 'There are no

private beaches in Tobago,' he said.

Over-water suites and access to the Nylon Pool: The final decision on

where they would be situated, and whether they would exist at all, was

still to be confirmed.

Golf course: Sandals waters its courses with grey water. The course did not

necessarily have to be exclusive; it could be open to guests and could be

nine or 18 holes.

Magdalena Grand: They were not offered the option by the Government

of taking over the loss-making establishment.

Staff recruitment: No, they would not poach top staff from existing Tobago

hotels and accommodation establishments; they have a 'non-poach

policy' wherever they set up. Training of T& T nationals would be provided.

Food supply: Made aware of Tobago's food dependency, and Trinidad's

flood-impacted agricultural sector and policy of turning arable land to

built development, he stressed it was an evolutionary process that had

worked in Jamaica and given time it would do so here.

<< Back to news headlines >>

TTPost welcomes letters to Santa Claus Monday 3rd December, 2018 – Trinidad Express Newspapers

THOUGH the company is going through a digital transformation and

restructuring right now, to rely less on print mail and more on courier

services, one old letter writing tradition is being encouraged.

The Trinidad and Tobago Postal Corporation (TTPost) is assuring children it

will deliver letters to Santa Claus and is encouraging that they write to him.

Asked what happens to letters to Santa Claus, TTPost general manager,

sales and marketing Carl Ramdeo said: 'Yes, we receive letters to Santa

Claus. We were told by Santa Claus not to reveal how he will be

responding. We receive letters from kids all over the country, and we have

a mechanism so that we can respond to them.'

'Yes,' TTPost product manager for Courier and Express Service George

Nicholas Martin added. 'Through Hummingbird Express, we have a direct

link to the North and South Poles,' he said, adding that the company has

all Santa Claus' bases covered.

Ramdeo further added: 'I am a firm believer. I still believe in Santa Claus.

He brought me many, many happy days as a child growing up. We want

to say to the children all across the country that we wish them all a very,

very merry Christmas, and we want them to continue to believe there is a

greater force out there, something to believe in, but yes, we do get a lot

of mail coming in from kids around this time of year.'

No assurances for TTPost jobs

The executives were speaking at a press conference at TTPost's flagship

retail shop on St Vincent Street, Port of Spain, to announce transformation

at the company as it struggles with declining print mail volumes. Amid

transformation, should TTPost workers' kids ask Santa Claus to preserve their

parents’ jobs? 'The postal sector is experiencing some significant shifts in

the industry and TTPost is no different. We are feeling the impact of those

changes. The question is when something is changing what choices do

we have, and how do we respond to the change,' said TTPost chairman

Eula Rogers.

Asked if she could give workers any assurances there would be no lay-offs

as the company restructures, she said: 'I can't give any assurances either

way. I'm not saying either way. We are looking at a new organisation. It

means then that the business is moving a lot toward e-commerce and

we're talking about logistics as well.' Asked to clarify if then TTPost was

considering laying off workers as several State-owned companies have

done over the last two months, she said: 'No, we are not looking at that.

We are looking to train our people and to equip them for the new

business we're going into.' TTPost currently employs 1,015 people.

She said the objective is to make TTPost profitable as it has never been.

She said TTPost was mandated to become profitable since the

changeover from the General Post Office (GPO) to TTPost in 1999. Asked

how much money TTPost is losing, she said management is working on

bringing audited accounts up to date this year, as the Government-

owned company has not published audited accounts since 2014. She

confirmed with TTPost managing director Richard Saunders the company

receives an annual subvention between $75 and $79 million from

taxpayers every year.

<< Back to news headlines >>

Refinery to hit the market Monday 3rd December, 2018 – Trinidad Express Newspapers

OFFERS for 'either the sale or lease' of the State-owned oil refinery at

Pointe-a-Pierre which ended all of its operations on Friday 'will be

evaluated by a team of experts', says Energy Minister Franklin Khan.

As for who will have the final say on a new owner or who will be granted a

lease for the refinery, Khan told TV6 News over the weekend, 'Cabinet will

make the final decision.'

And according to Khan, a 'broad-based international' search for a new

owner or lessee of the refinery is to commence 'in less than' 30 days.

He was responding to questions from TV6 News on Saturday via WhatsApp

about the refinery which has been placed under Guaracara Refining

Company, one of four subsidiaries that have replaced the oil refining,

production and fuel distribution operations of Petrotrin.

TV6 News asked Minister Khan how soon would the refinery at Pointe-a-

Pierre be sold or leased.

'In less than one month there will be a broad-based international RFP

(Request for Proposals) for the refinery and a data room is being

established. Offers for either the sale or lease of the refinery in Pointe-a-

Pierre will be evaluated by a team of experts after which a decision will

be taken in the best interest of the country,' Khan said.

Asked if he is able at this time to say who will comprise that team, Khan

said, 'The team has not been identified as yet.'

This is all part of the restructuring of the State-owned oil company that will

now operate as Trinidad Petroleum Holding Company which will have four

subsidiaries.

Also responding to questions from TV6 News via WhatsApp on Saturday,

Finance Minister Colm Imbert said 'the refinery has been mothballed for

the time being pending its lease or sale'.

TV6 News sought answers from Imbert about claims by some Petrotrin

employees on Friday that they had not yet received their severance

payments as they received termination notices.

'What I can tell you is that we at the Finance Ministry arranged for $2.6

billion in cash to be deposited in Petrotrin's bank account by 1 p.m.

yesterday (Friday) and I checked and was told it was there before I came

to Parliament,' Imbert said on Saturday.

Petrotrin has said it disbursed $2.7 billion in exit payments to its employees

on Friday, but added that some of its former employees will have to wait

until today for the funds to reach their accounts.

Imbert told TV6 News Petrotrin 'has not been wound up'.

'It will remain as a company to handle its current obligations and liabilities.

It's just no longer in the business of oil exploration and production and/or

refining and marketing. Oil exploration and production will now be

handled by Heritage Petroleum and fuel importation and distribution by

Paria Trading,' Imbert said.

TV6 News asked Imbert if Trinidad Petroleum Holding Company and its

four subsidiaries which will include Petrotrin 'to handle its current

obligations and liabilities' only.

'Yes. However, in order to operate these companies, they are using a

combination of senior managers and contracted services for the time

being, while recruitment of middle managers and technical staff

continues,' Imbert said.

<< Back to news headlines >>

Concern as Petrotrin Sports Club left in limbo Monday 3rd December, 2018 – Trinidad Express Newspapers

MEMBERS of the Petrotrin Sports Club at Guaracara Park, Pointe-a-Pierre,

have expressed concerns over the future of the club following the winding

down of the State-owned energy company.

On Thursday, Tracey Caesar, one of the club's management committee

members, told Express that management at Petrotrin had failed to

communicate to members what will become of the club, though the

decision to close the company would ultimately lead to the club's closure.

'There has been no formal notification and efforts via our chairman have

failed to get any kind of confirmation from management, who continue

to state that they haven't gotten any word from the board.

'Additionally, senior staff members at the Corporate Communication

Department have been saying to us, they hadn't gotten any directive

from management,' Caesar said.

He said the sole reason the club will be closed is that, similar to the

Petrotrin Staff Club, its secretary manager is an employee of Petrotrin

whose job position falls under the bargaining unit of the Oilfields Workers'

Trade Union (OWTU).

'According to information passed on to us, the secretary managers have

been given termination notices effective December 1, 2018. If these

persons are terminated then the club cannot function because they

would have no locus standi. Thus, they will have no financial status, will not

be able to transact business on behalf of the club, such as the ordering

and receiving of goods, and they will no longer be authorised to collect

the keys to the club.

'In light of all of this, the company is not saying anything to the members

of the club.

'The sad part is that while the company owns the real estate, the assets of

the club such as the chillers, the gym, table tennis board, among other

items, belong to the membership. So we end up in a position where the

company is going to shut the club with the members' assets in it. Who is

going to be responsible?'

Caesar said that while the club members and its management

committee have been terminated, being employees of Petrotrin, the club

workers, who are employed by the club, have not been terminated simply

because the club's management haven't heard anything from the

company regarding its status.

'Petrotrin has left the club devoid of leadership, ensuring that it will be

closed with the termination of its secretary manager and management

committee, and the members are in a quandary as to what becomes of

their assets and their rights.

'They have a right to fraternise and socialise because they have paid dues

and the club's dues are from January 1 to December 31. So having paid

dues for the entire year and the company cuts if off from December 1

without even a notice, that's a breach of the members' rights. The

company is depriving the members of their rights to socialise and enjoy

what they would have paid for.'

Caesar said some of the membership are considering a class action

lawsuit against Petrotrin.

'They have failed to advise management of a way forward and have

acted high-handedly and have placed the members of the club in

jeopardy because the Pointe-a-Pierre Staff Club, which will be closed as

of tomorrow (Friday), has dinner and wedding bookings for the entire

month of December.'

Stating that Naparima Girls' High School had a booking for a Christmas

Dinner on Saturday, with tickets having been sold at $200, Caesar said no

one will be available since the manager has indicated he will be

dropping off the keys at security before taking his exit of the company.

'He has no job so that means nobody is going to come to open up the

club because no one is authorised to do so,' Caesar said.

Meanwhile, Cyril Coolman, senior corporate communications officer for

the club, said any statement on the termination of personnel attached to

company's clubs is unfounded. 'Based on the information I have, no one

from that department have been terminated.'

Coolman said requests for further details should be addressed to Gillian

Friday, manager, corporate communications. Calls to her phone went

unanswered.

However, a senior official, who spoke on the condition of anonymity,

verified that no decision was made regarding the club.

'I really don't know. We have been trying to get a position without success.

We are hoping that between now and tomorrow things are a bit clearer,'

the official said, but did not confirm or deny if any of the club's personnel

were terminated.

<< Back to news headlines >>

Moves to arrest problems at GPO Friday 30th November, 2018 – The Antigua Observer

The Ministry of Works says every effort is being made to have the

operations of the General Post Office return to normalcy at the earliest

opportunity.

It stated yesterday in a press release that initial inspection of the building

was led by Minister of Works Lennox Weston and a senior team from the

Ministry of Works, looking at concerns relating to specific Occupational

Health and Safety issues which led to the recent work stoppage.

Ministry of Works Permanent Secretary Clarence Pilgrim has stated that

the ministry has put a coordinated two-tier plan in place.

According to him, in order to renovate the building, the working day

would be shortened so that the repairs will be effected in the afternoons

after 12 p.m. He, however, noted that locating a temporary home to

house the General Post Office Headquarters within the city environs is

proving to be a challenge

“We are presently looking at two buildings and if successful we will have

to make the necessary arrangements. These buildings are privately owned

so we would need the permission of the owners to move forward,” Pilgrim

said.

<< Back to news headlines >>

BVIPA to issue contracts using new database, registration encouraged Friday 30th November, 2018 – BVI News Online

Months after central government created a database of contractors who

would then be hired to carry out home repairs across the territory, the BVI

Ports Authority (BVIPA) have employed a similar method to issue BVIPA-

related contracts to businesses and individuals.

This method will be done through an initiative called the Contractor

Registration Form whereby individuals will fill out and submit the form to be

entered into the ports authority’s database. This database then qualifies

them to be considered to win BVIPA contracts.

Project Manager of the BVIPA, Marquese Maduro, said the Contractor

Registration Form initiative is not only for construction-related contracts.

“It (the initiative) is also for goods and services. So, for example, providing

furniture, providing windows and doors … There are a variety of different

things,” Maduro said.

He noted that the registration form has provisions for businesses or

individuals who provide ‘speciality services’ such as plumbing, tiling,

etcetera.

The BVIPA project manager further noted that persons must have a trade

licence to register. And in outlining one of the reasons for the initiative,

Maduro said: “Before, if we needed works done, we would go out [and

procure persons] based on whether it be my knowledge [of them], the

director’s knowledge, or maybe [based off] recommendations from the

port”

“What we’ve found is that, over time, you would reuse contractors based

on that familiarity … [But] you would always have persons come up to you

and say ‘hey, I see you guys are doing this, I see you guys are doing that,

you didn’t call me up and give me a job’,” he explained.

In the meantime, only printed forms are currently available for contractors

to register. Those printed forms are located at the BVIPA offices in Port

Purcell.

Maduro said the Ports Authority hopes to have forms available

electronically in the near future.

“I’m hoping by next week at the latest, we’ll have it online where you can

print it, and a little after that there’d probably be [an option] where you

could fill it out online and submit it via email or print it and bring it in,”

Maduro said.

<< Back to news headlines >>

Cabinet leases Blunder Bay! Private developers to build 5-Star Resort Thursday 29th November, 2018 – Virgin Islands News Online

Virgin Gorda could soon be home to one of the world’s foremost five-star

luxury resorts, at Blunder Bay, North Sound.

The decision to have a luxury resort constructed at the location was made

public today, November 29, 2018, when government released its ‘Cabinet

Decisions,’ taken on November 21, 2018, last.

According to the now, public document, the Virgin Islands (VI)

government—at its Cabinet level—decided, in principle, to finalize

negotiations for the purpose of entering into a Development Agreement.

Luxury Branded

It was noted that the agreement would be inked for a lease with Blunder

Bay Development Corporation Limited for the building of a luxury

branded, five-star, resort at Blunder Bay, North Sound, Virgin Gorda.

A precondition however, would include a termination clause and

performance bond negotiated with the Developer.

The information released did not specify the amount for which the

property would be released or special concessions on the table for

negotiations.

Lamberts Imports

Meanwhile Cabinet also decided that the Hotel Aid Licence for Elizabeth

(Lambert) Beach Resort Ltd be amended to include an additional list of

items for importation in accordance with the Hotel Aid Ordinance (Cap

290).

This would allow the struggling resort to import a wider range of items

under special conditions.

The Cabinet Meeting was chaired by His Excellency, Governor Augustus

J.U. Jaspert and saw Deputy Premier and Minister for Natural Resources

and Labour, away on private business.

<< Back to news headlines >>

$23 million in contracts signed for ongoing works in Roseau Valley Thursday 29th December, 2018 – Dominica News Online

The government of Dominica has signed contracts amounting to $23

million for ongoing works in the Roseau Valley.

Contracts for drainage works in Morne Prosper were signed at a

ceremony held in that community on Wednesday.

“The government has signed with work ongoing in the Roseau Valley

Constituency alone, contracts totalling over $23 million just for road

works,” Prime Minister Roosevelt Skerrit said while addressing the

ceremony.

He continued, “I am not talking about scholarships that we are giving to

students from here, I am not talking about transportation allowance we

are giving to students from the constituency, I am not talking about health

support for our people who have health issues, I am not talking about

small business money, I am not talking about how much money we spend

thus far…”

According to Skerrit, his government will continue to spend more for home

repairs or for new homes that are being constructed in the Roseau Valley.

He said works are ongoing in Cochrane amounting to $11.1 million.

“Not work or contracts to be signed, work have already started with

contracts signed,” he stated. “Wotten Waven, $3.4 million with the

construction of the new Bailey Bridge and the improvement to the access

to the Bailey Bridge.”

Skerrit explained that it cost in the region of $3.8 million to remove tarrish

from one area to transport to another.

He mentioned that in Laudat, it cost $1.6 million just for one intervention,

“and there will be some other interventions in Laudat going up to the

school and other parts of Laudat.”

Meanwhile, Parliamentary Representative of the Roseau Valley

Constituency, Dr. Collin McIntyre, said the government plans to transform

Morne Prosper into a city.

“Right here in Morne Prosper you are not only going to get the drains

which we will be signing today and your ridged pavements but we are

going to turn Morne Prosper into a City and we are going to give it street

lights as well,” he said.

He added, “When I speak I don’t play games, I am a serious man, when I

say something I mean it.”

McIntyre stressed that the meeting wasn’t a political one.

“This a meeting to talk with the people, but I want to make sure you

differentiate between who is real and who is not real…,” he remarked. “I

understand the politics of before but we have to look at the politics of

now and moving forward.”

He told residents no to gamble with their future.

“At the end of the day we want you to compare what you have and

listen to those pie in the sky type projects, fellas coming and cannot even

buy you a drink at functions and come and mop your drinks that we have

been putting there for you and I want you to understand who are the

serious folks,” McIntyre noted.

<< Back to news headlines >>

New Smart Health Centre officially handed over in La Plaine Friday 30th November, 2018 – Dominica News Online

The community of La Plaine now has a new Smart Health Centre.

This health centre, which was officially handed over on Wednesday, is

expected to enhance primary healthcare and the delivery will be in quick

and short time.

The project was financed by the Department for International

Development (DFID) through Pan American Health Organization (PAHO)

and the government of Dominica costing roughly $1.6 million.

“Your government is ensuring that services can and will be delivered from

this health facility in spite of the natural hazards that confronts us,”

Parliamentary Representative of the La Plaine Constituency, Petter Saint

said while delivering remarks at the ceremony.

Saint Jean continued, “We now have a facility that should be able to

withstand a category 6 hurricane since it withstood Maria.”

He said however, not just the physical building or infrastructure “but

importantly the amenities and equipment.”

Saint Jean indicated that he had been advised that presently there is

reduced water consumption.

“The state will now realize tremendous savings that can be out to the

provisions of other medical supplies for the people of the La Plaine Health

District,” he noted. “Reduced electricity consumption and importantly to

ensure that we reduce vulnerability during natural hazards.”

Meantime, Deputy Prime Minister Reginald Austrie said the longest journey

begins with the first step, “and we have taken that first step.”

He said should a disaster strike, the people of La Plaine know that there is

a Health Facility that they can depend on, “they can count on.”

Austrie thanked the contributors of the project for their tremendous

support.

Some of the new features of the Smart Health Centre include two

additional rooms, hurricane resistant windows, a back-up generator, a fire

alarm system and a radio communication system.

<< Back to news headlines >>

New owners close $1.25 billion financing to restart USVI refinery Sunday 2nd December, 2018 – Caribbean News Now

Limetree Bay Ventures has closed a $1.25 billion financing to restart its

refinery located at Limetree Bay, St Croix, US Virgin Islands. The company is

undertaking the project in conjunction with the tolling, supply and offtake

agreements that it executed with BP Products North America earlier this

month. The common equity in Limetree Bay is owned by affiliates of

ArcLight Capital Partners, Freepoint Commodities, and a leading

sovereign wealth fund.

“The closing of the financing provides the resources necessary to

complete the refinery restart,” said Brian Lever, president of Limetree Bay

Refining. “We have 1,300 workers currently involved in the project and

expect a significant ramp in activity over the coming months as we

prepare for restart by the end of next year. We are very grateful to the

broad team that has made this possible.”

Daniel Revers, managing partner and founder of ArcLight, added, “We

are excited to continue building Limetree Bay into an environmentally

compliant global energy hub in the US Virgin Islands.”

The financing comprises $550 million of preferred equity and a $700 million

term loan.

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ECCB confirms receiving Republic’s application to acquire Scotiabank 24

hours after public announcement; begins review Sunday 2nd December, 2018 – Caribbean News Now

The St Kitts-based Eastern Caribbean Central Bank (ECCB) said on

Saturday that it had received an application from the Republic Financial

Holdings seeking regulatory approval to acquire the Bank of Nova

Scotia’s operations and businesses in the Eastern Caribbean Currency

Union (ECCU) one day after the announcement of the acquisition.

“This application was received on Tuesday, 27 November,” said the ECCB

in a statement.

The ECCB stated that, pursuant to the Banking Act, the ECCB has

commenced its review of this application.

“In this regard, the ECCB has held initial discussions with the Central Bank

of Trinidad and Tobago and the Bank of Guyana. These regulators will

collaborate on the review of this application. The ECCB will also confer

with the Central Bank of St. Maarten and Curacao,” said the ECCB,

adding, “It should be noted that the ECCB already regulates Republic

Bank since it has an operation in Grenada. Republic also has a stake in a

bank in Saint Lucia.”

The ECCB also stated that it has come to its attention that there is some

speculation that Republic’s acquisition of Scotiabank’s operations in the

ECCU could lead to the depletion of the foreign reserves that back the EC

dollar. Such speculation is unfounded and unhelpful.

“The ECCB is clear and resolute about its mandate to protect the EC

dollar and wishes to make it abundantly clear that it will continue to

maintain very high levels of foreign reserves as it has done for the past 35

years,” the ECCB said.

It also stated that the proposed acquisition has prompted discussion

about the ownership of banking assets in the ECCU.

“At present, 55 percent of banking assets are owned by three Canadian

banks and Republic Financial Holdings and 45 percent of banking assets

are owned by indigenous (national) banks,” and “the proposed

acquisition, if approved, would not fundamentally change that ownership

distribution, as 55 percent of the banking assets would be owned by two

Canadian banks and Republic Financial Holdings and 45 percent of the

banking assets would continue to be owned by our indigenous (national)

banks.”

The ECCB said that, from time to time, there will be changes in ownership

of banks.

“Indeed, the proposed transaction is the latest in a series of consolidation

moves by the Canadian banks. It is distinctly possible that there could also

be some consolidation moves among indigenous (national) banks.

Citizens and residents in the ECCU should come to expect these

developments as part of the banks’ response to both global

developments and competition in the ECCU banking space. Indeed, the

ECCB continues to encourage indigenous (national) banks to cooperate

and consolidate to ensure the interests of the people of the ECCU are

best served,” the ECC stated.

It referred the public to the ECCB’s Consultative Paper on Consolidation

of National Banking Sector in the ECCU published in July of this year.

“Citizens of and residents in the ECCU are encouraged to remain calm

and stay abreast of developments in the banking sector,” the ECCB said.

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Cayman Airways takes delivery of the first Boeing 737 Max 8 in the

Caribbean Friday 30th November, 2018 – Caribbean News Now

Cayman Airways took formal delivery of its new Boeing 737 Max 8 aircraft

from Air Lease Corporation (ALC) on November 28, 2018, at a ceremony

in Seattle hosted by Boeing to mark the occasion.

“This year, as we celebrate 50 years of safe and reliable service, we take

great pride in introducing the first Boeing 737-Max 8 to our fleet,” said

Fabian Whorms, president and CEO of Cayman Airways. “Over the next

20 months, we will be adding three additional Max 8 aircraft while retiring

our existing Boeing 737-300 jet fleet. Following a competitive public

tendering process, the unique lease structure and terms offered to

Cayman Airways by ALC, has afforded Cayman Airways the ability to be

the first B737-8 MAX operator based in the Caribbean, and we look

forward to a strong working relationship with ALC.”

“ALC is pleased to announce this new Boeing 737 MAX 8 delivery with

Cayman Airways today,” said Steven F. Udvar-Hἁzy, executive chairman

of Air Lease Corporation. “With this new MAX 8 and the additional three

aircraft set to deliver from ALC, Cayman Airways is successfully

modernizing its fleet with the most technologically advanced, fuel-

efficient aircraft to enhance the airline’s overall operations, maximize

customer comfort and bring a new standard of excellence for travelers to

and from The Cayman Islands.”

“In 2014, we purchased our 737-300s as the first step of our fleet

modernization plan. That purchase was made with the expectation to

retire those aircraft within 3-5 years and the aim of replacing them with a

new fleet capable of cutting fuel consumption and maintenance costs,

while offering greater opportunities for revenue growth and enhanced

customer experience,” said Philip Rankin, chairman of the Cayman

Airways Board of Directors. “In 2016, our business case demonstrated that

the Boeing 737 Max 8 was the preferred aircraft, but was expected to be

out of reach financially. However, the unique terms and pricing of the

successful proposal from ALC made these aircraft a logical replacement

choice for our retiring B737-300s compared to any other available mission-

suitable aircraft, be it new or used.”

As part of its fleet modernization plan, Cayman Airways is replacing its four

737-300 aircraft with the MAX 8, offering 30 percent more seating

capacity while achieving up to 30 percent savings in fuel costs. The

airplane incorporates the latest technology CFM International LEAP-1B

engines, Advanced Technology winglets, and other airframe

enhancements to improve performance and reduce operating costs.

The new Boeing 737 Max 8 is expected to arrive on Grand Cayman on

Friday, when there will also be a customary celebration for its arrival.

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