(Reuters) Venezuela owes Lufthansa more than $100 million in ticket revenue, the German carrier said on Monday, following news it was suspending flights there next month.
Like other airlines, Lufthansa has struggled to repatriate revenue held in the local bolivar currency due to exchange controls and had reduced flights to Venezuela to limit its exposure, before its weekend announcement of a suspension.
A Lufthansa spokesman said that the Venezuela government owed it a "low three-digit million" amount, later adding that the amount had already been written off.
The International Air Transport Association (IATA) has been pushing Caracas to free trapped airline revenue.
(Antigua Observer) An official at the cash-strapped regional airline, LIAT, confirmed that an “internal investigation” is under way into alleged financial discrepancies involving one of its employees at the company’s Coolidge headquarters.
The confirmation came from LIAT’s Acting Chief Executive Officer (CEO), Julie Reifer Jones, who told OBSERVER media yesterday that the investigation was a “routine” measure which businesses undergo from time to time “if there are actions we consider suspect”.
But according to our source, who spoke on the condition of anonymity, and who has close knowledge of the ongoing probe, the authorities are trying to determine whether the company’s executive benefited personally from issuing rebate tickets to travellers.
(Reuters) Analysis of data seized by investigators in last week's raid of Google's (GOOGL.O) Paris headquarters could possibly take years, French financial prosecutor Eliane Houlette said on Sunday.
Dozens of French police raided Google's offices on Tuesday, escalating an investigation over suspected tax evasion.
"We have collected a lot of computer data," Houlette said in an interview with Europe 1 radio, TV channel iTele and newspaper Le Monde, adding that 96 people took part in the raid.
"We need to analyze (the data) ... (it will take) months, I hope that it won't be several years, but we are very limited in resources".
(Caribbean 360 News) WASHINGTON, United States, Monday May 30, 2016 – Officials from the Caribbean Community (CARICOM) and the United States have advanced talks in Washington on several key concerns affecting trade between the US and the region, chief among then being the treat of a lawsuit by US-based NGOs over the harvesting of queen conch for trade.
The threat is a major concern to the region, which exports roughly US$185 million worth of conch meat a year to the US.
In February 2016, WildEarth Guardians and Friends of Animals notified the Secretary of Commerce and the Administrator of the National Oceanic and Atmospheric Administration (NOAA) of their intention to sue the Department of Commerce, the National Oceanographic and Atmospheric Administration, the National Marine Fisheries Service/NOAA Fisheries, and their officers and directors over the Government’s decision back in 2014 not to list the queen conch as threatened or endangered under the Endangered Species Act (ESA).
(Demarara Waves) The two major solid waste disposal companies that serve Georgetown on Friday continued to express grave concern about City Hall’s failure to pay them millions of dollars for services provided during the past several months.
Employees of the Georgetown City Council were again not paid on Friday, despite a cautious assurance by a top finance official at City Hall on Wednesday, May 25, 2016.
Minister of Communities, Ronald Bulkan said he was aware of representation made by City Hall and that the Ministry of Finance was examining what could be done to relieve the cash crisis that has hit the Georgetown Municipality. He could not say when the Finance Ministry would disburse funds to City Hall. Pressed on whether his intervention would result in cash being disbursed to the Municipality to pay staff and key service providers, Bulkan skirted the question and said “I don’t have a cheque book. The Central Government has given a subvention to the municipality but there are certain challenges. We will bring a responsive and responsible approach to these challenges,” he said.