(Barbados Today) A deluge of Barbadian dollars on the Guyana market has resulted in that country’s central bank today temporarily suspending trade in this island’s currency.

Guyana’s monetary authorities also moved against the Trinidad and Tobago dollar, and though trading is temporarily suspended, the central bank said persons conducting “legitimate” business could still deal in the dollars of the two Caribbean Community member states.

Since the beginning of this week a local Guyana newspaper, Kaieteur News, has been reporting that the business community was facing a shortage of US currency.

Government responded by indicating that there was no such shortage as there were adequate reserves.

However, they were worried that local traders were accepting large amounts of Barbados and Trinidad currency and exchanging them for US dollars.

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(Antigua Observer) John Paul DeJoria, who has been heralded as the billionaire behind the Peace Love & Happiness hotel project on Barbuda, has finally sealed the deal on the US $250 million venture.

Both DeJoria and his partner John B Turbidy affixed their signatures to the agreement during a signing ceremony at the Office of the Prime Minister on Tuesday.

DeJoria announced that Peace Love & Happiness Barbuda Limited would be doing projects “not only to hire…the majority of the entire island” but would do others, which “will benefit the schools, medicine as well as the food supply of the island”.

He added that the project would “help the people and the environment” and would be “first class all the way”.

Prime Minister Gaston Browne said it was a major advantage to Barbuda “to have an investor of the calibre of John Paul,” whom he called “a well-known business mogul…who is reported to have in excess of US $3 billion in wealth [and is] someone who is a known philanthropist and a conservationist”.

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WASHINGTON (AP) -- A unanimous Supreme Court on Tuesday sided with smartphone maker Samsung in its high-profile patent dispute with Apple over design of the iPhone.

The justices said Samsung may not be required to pay all the profits it earned from 11 phone models because the features at issue are only a tiny part of the devices.

Apple had won a $399 million judgment against Samsung for copying parts of the iPhone's patented design, but the case now returns to a lower court to decide what Samsung must pay.

The case is part of a series of disputes between the technology rivals that began in 2011. Apple accused Samsung of duplicating a handful of distinctive iPhone features for which Apple holds patents: the flat screen, the rounded rectangle shape of the phone, and the layout of icons on the screen.

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(BVI News) While declaring that the British Virgin Islands is among countries living through challenges that “can best be described as the new normal,” Premier Dr D Orlando Smith last evening promised that his government will ensure that the common people and core services are not negatively affected by whatever belt-tightening measures may be implemented in the year ahead.

“we will look for other ways to increase Government revenues without placing undue burdens on the people of the territory. But rest assured, whatever belt-tightening we must do, it will not come at the expense of the common man or woman.”

“We will not be cutting core services or reducing our investment in your children’s schools, in your healthcare, in your roads or infrastructure, or in helping to grow your businesses and your economy. And we will continue to work hard to protect our environment that is so critical to our on going development. We will sustain those investments because they are the essential building blocks for our future,” the premier said in an address to the territory last evening, December 6.

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(Demerara Waves) Central Bank Governor, Dr. Gobind Ganga on Tuesday rubbished claims that there is a massive foreign exchange shortage, saying that talk of such a situation was mere speculation.

“There is no shortage,” he said when asked by Demerara Waves Online News. “The net asset holding of commercial banks has gone up as of September or October and so that means that our foreign exchange would have been higher than last year so how can there be a shortage,” he added.

Ganga said the Bank of Guyana has about US$625 million in reserves equivalent to about four months of imports.

Although the US dollar is trading at about GYD$208 (selling) / GYD$213 (buying), Ganga maintained there is sufficient US currency in the foreign exchange market.

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