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(V.I. Consortium) ST. THOMAS — Governor Kenneth Mapp has lobbied U.S. Department of Treasury Secretary Steve Mnuchin and congressional leaders, seeking what Government House says is the territory’s share of the Trump administration’s efforts to return to the U.S. what is estimated to be about $4 trillion in tax dollars, being held by American companies on foreign soil.

Mr. Trump met last week with Mr. Mnuchin as well as Senators Orrin Hatch and Mike Crapo, and Representatives Vern Buchanan and Tom MacArthur on the matter, “to ensure that the U.S. Virgin Islands was not left out of the effort to bring as much as $4 trillion back to American coffers.”

But how the funds would be returned has not been clearly laid out, and what exactly is the territory’s share, if any, gets even murkier. Government House did not explain.

The current system — in which profits earned abroad are not taxed until they are brought home — creates perverse incentives, encouraging American companies to park their money in lower-tax havens outside the United States.

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(Caribbean 360 News) NEW YORK, United States, Saturday June 10, 2017 – JetBlue is this month ditching boarding passes and trying a facial recognition process, starting with flights to one Caribbean island.

The airline is testing the new paperless self-boarding process on flights from Boston’s Logan International Airport to Aruba’s Queen Beatrix International Airport.

Customers who opt in during the boarding process can put away their boarding passes and devices and simply step up to the camera for a quick photo. The custom-designed camera station will connect to US Customs and Border Protection (CBP) to instantly match the image to passport, visa or immigration photos in the CBP database and verify flight details.

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LONDON (AP) -- The pound fell sharply after Britain's election saw the Conservatives lose their majority in parliament, raising questions about the next government's ability to lead the talks to leave the European Union.

The British currency lost as much as 3 cents against the dollar by Friday as the results confirmed exit poll predictions that Prime Minister Theresa May had failed in her gambit to gain a stronger majority for those Brexit talks.

The pound fell as low as $1.2636 from $1.2955 on Thursday, before recovering slightly to trade at $1.2737.

Above all, investors are worried about the general uncertainty surrounding the country - whether a bruised May will resign in due course, whether the Conservatives will be able to form a new government or whether it will be an alliance of opposition parties, led by the Labour Party.

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St. George’s, Grenada W.I – It’s official. The Government of Grenada, today signed a memorandum of understanding (MOU), to formalize and implement a cohesive partnership with the global home-sharing company, Airbnb. Grenada’s Minister of Tourism, Honorable Dr. Clarice Modeste-Curwen signed on behalf of the Government of Grenada, in a conference held during the Caribbean Tourism Organization’s annual Caribbean Week.

The signing of the MOU is part of ongoing efforts by the Grenada Tourism Authority (GTA) to maximize exposure of the tri-island destination of Grenada, Carriacou and Petite Martinique, and will act as a streamlined framework for the collaboration between the GTA and Airbnb, designed to further enhance and position the Spice Island of the Caribbean as top-of-mind with target consumers. 

“Solidifying a strategic alliance with a global entity like Airbnb demonstrates our commitment to strengthening Grenada’s tourism sector by tapping into new segments of the industry and providing Grenadians with opportunities that stimulate our island’s economic growth,” commented Dr. Modeste-Curwen. “Grenada is known and loved for the warm and friendly hospitality of its people, world-class beaches, cuisine, culture and we recognize that in order for the destination to remain competitive we must grow and evolve with the ever-changing travel landscape.”

Airbnb plays an increasingly important role in Grenada’s tourism sector with more than 400 active listings across the island and typical host annual earnings of $2200 USD. With the establishment of today’s strategic partnership, new opportunities will be open to Grenadians and island-wide advocacy to develop and support unique Pure Grenada experiences that will further strengthen the continued growth of the destination’s economy.

In recent months, Airbnb has reached a series of innovative and very promising partnerships with countries in the Caribbean, especially the recent signing of an agreement with the Caribbean Tourism Organization, which sets a great environment for boosting tourism in the region.

"We are proud to partner with Grenada and help create genuine experiences for travelers and new economic opportunities for Grenadians while highlighting local culture and heritage,” said Shawn Sullivan, Airbnb’s Public Policy lead for Central America and the Caribbean.

 

 

(Demerara Waves) Government is cutting ties with all privately-owned pharmaceutical bonds, even as it prepares to beef up its storage facilities- all aimed at slashing costs and more efficiently storing and distributing medical supplies to the public health sector, Minister of Public Health, Volda Lawrence said Wednesday night.

“As you know, we have had issues with private bonds. This year we are focusing on ensuring that we can be able to stock our own medications, cut back cost and invest in the sector of itself,” she told reporters.

Lawrence made known government’s position one day after the Georgetown Public Hospital Corporation (GPHC) began moving out its stocks from the New Guyana Pharmaceutical Corporation (NGPC) bond at Industrial Site, Ruimveldt.

The NGPC bond was being rented at GYD$9 million per month. Similarly, she said the Larry Singh-owned bond at 29 Sussex Street, Albouystown, which is being rented by government for GYD$25 million monthly, would soon be vacated.

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