St. Kitts and Nevis (ECSE): On the Eastern Caribbean Securities Market today, 320 East Caribbean Financial Holding Company shares traded at a low of $13.25 and at a high of $13.48, closing at $13.48, down one cent 0.07% on its last traded price, 580 Grenada Electricity Services Limited shares traded at $11.00 and 183 Dominica Electricity Services Limited shares traded at $3.00, both unchanged from their previous market close.

On the Regional Government Securities Market, the Government of St Vincent and the Grenadines $20 million 91-day Treasury bill issue auctioned on the primary platform of the Eastern Caribbean Securities Exchange was over-subscribed by $16.363 million. A competitive uniform price auction methodology was used and the resulting discount rate was 4.15%.

 Here are the latest closing prices for the equities listed on the ECSE:

Bank of Nevis …….. $6.00

 

Cable & Wireless St Kitts & Nevis Limited …….. $5.70

 

Dominica Electricity Services .……. $3.00

 

East Caribbean Financial Holding Company …….. $13.48

 

FirstCaribbean International Bank …….. $5.50

 

Grenada Electricity Services Limited …….. $11.00

 

Grenreal Property Corporation Limited …….. $5.40

 

Republic Bank (Grenada) Limited …….. $57.00

 

St Kitts Nevis Anguilla National Bank …….. $2.48

 

St Lucia Electricity Services …….. $25.00

 

S. L. Horsford & Company …….. $1.25

 

Trinidad Cement Limited …….. $3.40

 

TDC …….. $1.85

 

Today's financial tip:

 

What is a trade?

 In securities markets a trade is a transaction involving one investor buying a security from another investor. A trade is completed when a buyer and a seller agree on a price at which the trade will be executed

gas tank

St. Kitts and Nevis (Ministry of Finance): The general public is hereby advised of the following retail prices of Unleaded Gasoline as of February 22, 2011:

Delta Service Stations $14.59 per gallon

 

SOL Service Stations $13.31 per gallon

 

Texaco Service Stations $13.19 per gallon

 

Please note that these are the maximum retail prices at which Unleaded Gasoline can be sold at the respective company’s service stations.

ritz carlton

ST. KITTS (WINN): CEO of Marriott InternationalBill Marriott is looking at the Christophe Harbour site at the Southeast Peninsula as a possible location for a Ritz Carlton Hotel according to a press release from the Prime Minister’s office. The release said Marriott could give the green light for a Ritz-Carlton property to be constructed at the St. Kitts’ Southeast Peninsula. On Thursday he visited the site and spoke to Prime Minister Dr. Denzil Douglas.

“We want to make sure that we can do whatever it takes to improve upon it. We rely on you for guidance and support,” said Dr. Douglas. “We have a good team here (visiting) and a great hotel (St. Kitts Marriott Beach Resort and Royal Beach Casino) and it has been successful and we want to do more here. We hope we can do a Ritz-Carlton sometime. Don’t’ worry,” said Mr. Marriott after introducing his team to Prime Minister Douglas and his delegates. The local delegation comprised Mrs. Patricia Martin, Permanent Secretary in the Ministry of Tourism and International Transport and Mr. Cedric Liburd, Advisor in the Ministry of Tourism and Ministry of Tourism and International Transport. They met Mr. Marriott in the VIP Lounge at the Robert L. Bradshaw International Airport.

According to the release, Prime Minister Douglas, who played a major role in attracting the St. Kitts Marriott Resort and Royal Beach Casino said his government was ready to facilitate the construction and opening of a Ritz-Carlton within the multi-million Christophe Harbour Development Project. “We appreciate your great cooperation. Tourism is very important to you and it is also very important to us. You have great potential here. You have lovely people, beautiful climate,” said Mr. Marriott, whose leadership spans more than 50 years. He has taken Marriott from a family restaurant business to a global lodging company with more than 3,100 properties in 67 countries and territories.

Asked about airlift, Prime Minister Douglas informed Mr. Marriott of American Airlines’ daily flight from Miami; American’s twice weekly flight from JFK in New York; Delta’s weekly flight from Atlanta; US Airways weekly flight from Charlotte, South Carolina and British Airways twice weekly flight from London-Gatwick.  “Oh, that’s great,” responded Mr. Marriott, who also asked whether the Four Seasons in Nevis had reopened. “That is good. That will help the island a lot, help Nevis a lot,” Mr. Marriott responded. 

technology

Barbados (Bevan Springer): The Caribbean could become a major global technology centre if the region's professionals engaged in the field were to unite around such a vision. Barbadian businessman Andrew Jemmott, Managing Director of Caribbean Webcast Inc. (formerly The Caribbean Streaming Network), said regional populations ought to graduate from being mere consumers of cutting edge technology to creators and innovators in it.

Jemmott asserts that the convergence of technology and the global supply chain for products and services offers a huge opportunity for entrepreneurs to "leap frog into the global marketplace without having to board airliners and deal with the hassles of securing visas to do business with nations across the globe." Jemmott, a Bimventures entrepreneur, considers that the time has come for the technological bar in the region to be raised to enhance the profile of the Caribbean across the world. The first step, he says, is the formation of symbiotic relationships among the technological providers in the Caribbean to ensure they are all working towards the same goal of innovation and creativity in the sector. That is why Jemmott supports the recently launched Barbados Entrepreneurship Foundation whose mission is "Barbados - the #1 Entrepreneurial Hub in the World by 2020."

He said Barbados and its Caribbean neighbours can truly become the Global Centre of Excellence for Entrepreneurship by 2020, but will need to be on the cusp of enhancing existing technological advancements or creating new technology. "Our goal is also to encourage productive and innovative thinking, through a process of research and development, design, and the production and implementation of software and hardware products through social media applications," stated Jemmott.

Caribbean Webcast provides content and programming in four languages: English, Spanish, Portuguese and French. "The Caribbean is a multi-lingual and multi-cultural area and Barbadian and Caribbean companies should cater to all the audiences within our diverse community. Providing a multi-lingual service will help regional technology companies penetrate markets in the Caribbean, Latin America and across the world," he added.

IMF

Jamaica (Caribbean News Now): The International Monetary Fund (IMF) has expressed concern in its latest assessment of Jamaica's economic situation that the targets set out under the borrowing relationship were in the Fund's words "jeopardised." In a release on the island's progress so far in its arrangement with the multilateral agency, in its third review of Jamaica's performance under the standby agreement, the IMF was critical of the government's action, which it said was compromising the country's ability to meet the conditionalities set out in the agreement.

It made reference to the government's "unanticipated purchase of new buses" for the state-run Jamaica Urban Transit Company and continued financial support for a government-run bauxite company. A BBC Caribbean report stated that the IMF also questioned the payment of outstanding salaries and allowance of public sector workers and cost overruns on a major highway running across the island. The Fund also wants Jamaica to postpone some of its capital projects.

Top Business News

West Indies News Network (WINN FM 98.9)
Unit C24, The Sands Complex
Newtown Bay Road, Basseterre
St. Kitts, West Indies

Telephone
St. Kitts (Office): 869.466.9586
St. Kitts (Studio-On Air): 869.466.0989
Miami: 1.305.921.4619

New York: 1-718-285-6984
UK : 0333 -344-0065

Copyright © 2016 West Indies News Network. All rights reserved.

Website Design & Development: Genesis Creatives, St. Kitts Nevis