Image result for Gas Winn FM

(Barbados Today) Barbadians will see a change in petroleum prices. Consumers will have to pay more for gasoline, diesel and liquefied petroleum gas (LPG), but will be paying less for kerosene.

The retail price of gasoline will move from Bds$2.96 per litre to $2.97, an increase of one cent per litre. The price of diesel will rise from Bds$2.21 to $2.28, an increase of seven cents. Kerosene will now retail at $1.12 per litre, down from $1.13.

Meanwhile, liquefied petroleum gas (LPG) will retail at Bds$157.72 per 100 lb cylinder, up from BBD$153.85, an increase of $3.87. The price of the 25 lb cylinder is now $44.53, an increase of 97 cents, while the 22 lb cylinder will now cost $39.35, an increase of 85 cents. The price of a 20 lb cylinder has moved from $35 to $35.77.

These adjustments in retail prices are due solely to changes in the CIF (cost, insurance and freight) of these refined products.

Image result for Amazon WINN FM

(Reuters) Apple Inc, Amazon.com Inc and Google have joined bidding for Toshiba's  NAND flash memory unit, vying with others for the Japanese firm's prized semiconductor operation, the Yomiuri Shimbun daily reported on Saturday.

Toshiba shareholders on Thursday agreed to split off its NAND flash memory business, paving the way for a sale to raise at least $9 billion to cover U.S. nuclear unit charges that threaten the conglomerate's future.

The Yomiuri newspaper said bidding prices from Apple, Amazon or Google, owned by Alphabet Inc (GOOGL.O), were not known.

The Nikkei business daily reported on Friday that U.S. private equity firm Silver Lake Partners SILAK.UL and U.S. chipmaker Broadcom Ltd (AVGO.O) have offered Toshiba about 2 trillion yen ($18 billion) for the unit.

Read more

Image result for BP Oil Winn FM

PORT OF SPAIN, Trinidad (CMC) — The Trinidad and Tobago government says the oil giant BP will invest five billion US dollars in the country over the next five years.

A statement from the Office of the Prime Minister said that the assurance was given during talks in the United States between a delegation headed by Prime Minister Dr Keith Rowley and senior senior BP executives earlier this week.

“This important meeting between Trinidad and Tobago and BP brought discussions and negotiations that have been ongoing for months closer to finalisation. At the meeting it was determined that the final agreement between the National Gas Company and BP for Angelin will be executed shortly and that this project will be kept on schedule.

“The parties discussed the investment by BP of between US$$5-6 billion in Trinidad and Tobago over the next five years, with BP committing to further exploration and production,” the statement noted.

It said that another matter raised at the meeting was the settlement of long outstanding Royalty Gas positions and “it is expected that this will be resolved in the coming weeks.

“The parties also discussed the future of the hydrocarbon industry in Trinidad and Tobago and the continuation of the relationship between Trinidad and Tobago and BP,” noting that “in the coming weeks both parties are expected to make further announcements about the successful execution of certain agreements”.

Image result for Tax WINN FM

(Barbados Today) There is a worrying perception of Barbados on as a tax haven, a view that is hampering the island’s status as a jurisdiction in which to do business, says President of the Barbados International Business Association (BIBA) Gregory McConnie.

Equally troubling, McConnie says, is that Barbados’ primary investing jurisdiction, Canada, had begun to share this perception.

The business executive said the Canadian government had been making a concerted effort to appease Canadians who had been complaining about their businesses and compatriots “who park their money in low tax jurisdictions like Barbados and don’t contribute their fair share” of taxes.

“The rhetoric continued with bodies such as the Canadians for Tax Fairness which estimated that wealthy individuals and corporations shifted CAN$270 billion into the world’s tax havens resulting in an annual revenue loss to the Canadian government of about CAN$8 billion,” McConnie told the BIBA forum on the international business sector.

Read more

Image result for Brexit Winn FM

(Reuters) The European Union offered Britain talks this year on a future free trade pact but made clear in negotiating guidelines issued on Friday that London must first agree to EU demands on the terms of Brexit.

Those include paying tens of billions of euros and giving residence rights to some 3 million EU citizens in Britain, the proposed negotiating objectives distributed by EU summit chair Donald Tusk to Britain's 27 EU partners showed.

The document, seen by Reuters, also sets tough conditions for any transition period, insisting Britain must accept many EU rules after any such partial withdrawal. It also spelled out EU resistance to Britain scrapping swathes of tax, environmental and labor laws if it wants to have an eventual free trade pact.

The guidelines, which may be revised before the EU27 leaders endorse them at a summit on April 29, came two days after Prime Minister Theresa May triggered a two-year countdown to Britain's withdrawal in a letter to Tusk that included a request for a rapid start to negotiations on a post-Brexit free trade deal.

Read more

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