(Trinidad Guardian) The Turks and Caicos Islands has appealed to Caribbean Community (Caricom) countries to continue to maintain a united position on the issue of de-risking and the loss of corresponding banking relationships (CBRs).
Premier Sharlene Cartwright-Robinson, who came to power in this Overseas British Territory last December, said that she is aware that the 15-member regional integration movement has been looking at the entire issue of de-risking.
“What we find in the Turks and Caicos Islands is an attempt to de-risk entire sectors and that is not the way to go. We are trying to, for example, assess our financial services sector, we are complying with the various standards…but yet the goal post is moving every time we comply with the last standard and everybody else is coming up with their own standard…,” she said.
“Apart from that, our concern is also that you are looking at the casino industry, a sector that is a threat for …de-risking the entire sector,” she said, warning it may result in the illegal movement of “suitcases of money”.
SANTO DOMINGO, Dominican Republic (AP) -- The Dominican Republic minister of industry and commerce and seven other top-level officials have been detained in an international bribery scandal involving the Brazilian company Odebrecht.
Prosecutors say those detained on Monday also include a former public works minister, a former Senate president, two former directors of a regulatory electricity group and a businessman. The suspects are scheduled to appear in court to face corruption charges.
The suspects were detained after Odebrecht said it paid $92 million in bribes to Dominican officials since 2001 to secure 17 government contracts. The company built highways, dams and a coal-burning power plant.
The bribes were part of an overall $788 million paid to officials in 10 Latin American countries and two African ones to obtain multimillion-dollar contracts with local governments.
(Caribbean News Service) SANTO DOMINGO, Dominican Republic – The Dominican Republic based airline Pawa is scheduled to start flights to Jamaica later this year.
The initiative was sparked by the recent visit from Jamaican Prime Minister Andrew Holness.
During one of the many meetings, both Dominican and Jamaican business leaders urged Holness and President of the Dominican Republic Danilo Medina to open direct flights between Kingston and Santo Domingo.
While Pawa is yet to announce the start date of flights as well as the frequency, airline officials have confirmed that the route will start operating in the last quarter of 2017.
According to local media reports, Pawa would become the first airline to fly to the capitals of five countries in the Greater Antilles – Cuba, Jamaica, Haiti, Puerto Rico and the Dominican Republic with Santo Domingo as the hub.
During recent the recent meeting with Holness, both Jamaica and the Dominican Republic agreed to increase trade, bilateral investment, cooperation in tourism and the training of teachers and students.
Holness visited the country on the invitation of the Dominican President.
LONDON (AP) -- British Airways said "many" of its IT systems were back up and running Sunday, but travelers still faced cancellations and delays after a global computer failure grounded hundreds of flights.
BA chief executive Alex Cruz said the airline was running a "near-full operation" at London's Gatwick Airport and planned to operate all scheduled long-haul services from Heathrow. But he said there will still be delays, as well as some canceled short-haul flights.
BA canceled all flights from Heathrow and Gatwick Saturday after the IT outage, which it blamed on a power-supply problem. The glitch threw the plans of thousands of travelers into disarray, on what is a holiday weekend in Britain.
BA operates hundreds of flights from Heathrow and Gatwick on a typical day - and both are major hubs for worldwide travel.
Cruz apologized in a video statement, saying "I know this has been a horrible time for customers."
(Jamaica Gleaner) Desnoes & Geddes Limited, operating company for the Red Stripe Jamaica brewery, will invest €12 million or about $1.7 billion this year in order to develop a new packaging line and technology system to handle expected growth in volumes for the next decade.
The current line operates at full capacity since the brewery decided last financial year to once again make beer, bound for the United States market, in Jamaica.
The new line will allow for the handling of the local and overseas product demand. The company will also implement new inventory and data-processing software to improve sales and productivity.
"Our current line is not capable of supplying the demand for the next three years. Right now, our line is at maximum capacity, we have no room to grow. So we are investing in this line to manage our demand for the next 10 years," Red Stripe Jamaica Managing Director Ricardo Nuncio said in a Financial Gleaner interview at the Red Stripe brewery in Kingston on Thursday.
Concurrently, the company will consider introducing beers from Mexico and other markets into Jamaica. It's aimed at growing local consumption of beer by offering choices to consumers in a market that trails other regions. Sol, the primary beer under consideration, falls within the Heineken group. Red Stripe Jamaica is a 95.78 per cent subsidiary of Heineken.