Dominica News

OECS opposition parties urged to reject CCJ

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here . | 7/28/14 12:27 AM
OECS Authority to convene its 59th meeting on Saturday in St Vincent

KINGSTOWN, St Vincent -- The 59th meeting of the Organisation of Eastern Caribbean States Authority and the first of two official OECS heads of government meetings for 2014, will be held on Saturday in St Vincent and the Grenadines. | 7/26/14 2:07 AM
St Vincent PM to take over ECCB chair

St Vincent and the Grenadines Prime Minister Ralph Gonsalves will today take over the chairmanship of the Monetary Council of the Eastern Caribbean Central Bank when the bank convenes its annual general meeting. | 7/25/14 9:42 AM
Watch those FDIs!

The recent fluctuating inflow of foreign direct investment (FDI) is something Barbados and other Caribbean countries should keep an eye on. Caribbean Centre for Money and Finance (CCMF) executive director Professor Compton Bourne said this was because “FDI inflows are quite substantial relative to the economic size of CARICOM countries”.

He was reflecting on the publication of the World Investment Report 2014 by the United Nations Conference on Trade and Development.

The former Caribbean Development Bank president said it provided “a welcome opportunity to examine the recent experience of Caricom countries with foreign direct investment”.

“Between 2008 and 2013, the regional group of countries received foreign direct investment totalling US$25.7 billion. The annual average was US$4.3 billion,” he pointed out.

“Major recipients of FDI inflows are Trinidad and Tobago with US$6.65 billion, that is, 25.5 per cent of the cumulative total, The Bahamas with US$6.25 billion or 24.3 per cent, Jamaica with US$3.48 billion (13.5 per cent) and Barbados with US$2.62 billion (10.2 per cent).

“The other ten countries together received US$6.85 billion (26.5 per cent) of the cumulative total, with Guyana accounting for 4.7 per cent and nine others having no more than three per cent each.”

Bourne said these annual inflows “have tended not to be stable”, and that “while 2008 was a good year for all except Haiti, inflows were considerably smaller in 2009, except for The Bahamas and Haiti where there were sizeable increases”.

“Reductions in FDI inflows persisted in 2010 and 2011 in Jamaica, Belize, Dominica, Grenada St Kitts-Nevis, St Lucia and St Vincent and the Grenadines and in 2012 in Grenada, St Kitts-Nevis and St Lucia. Guyana attracted larger inflows in 2010, 2011 and 2012; Trinidad and Tobago did so in 2011 and 2012; The Bahamas in 2010 and 2011 but not in 2012; and Haiti in 2010 and 2012,” he said.

“FDI inflows increased in Jamaica, Antigua and Barbuda, The Bahamas, Grenada, St Kitts-Nevis, St Lucia, St Vincent and the Grenadines and Haiti in 2013 but decreased in Guyana, Belize, Trinidad and Tobago, Barbados and Dominica.”

Bourne said a major part of the reason such investment was vial was because it was “quite substantial relative to the economic size of CARICOM countries”.

“FDI inflows for 2012 expressed as percentages of gross domestic product in the same year were between 12.2 per cent and 16.4 per cent in Antigua and Barbuda, Barbados, Belize, and the Bahamas, and between 6.7 per cent and 11.7 per cent in St Lucia, Trinidad and Tobago, Guyana and St Kitts-Nevis. The smallest percentages were in Suriname (1.2 per cent), Haiti (two per cent), Jamaica (3.3 per cent) and Grenada (4.2 per cent).” (SC) | 7/24/14 4:00 AM
Brydens Stokes flying with LIAT

BRYDENS STOKES LIMITED will be expanding its reach in the Caribbean through a new initiative with regional airline LIAT.

Passengers travelling from Barbados on board LIAT will now be treated to free samples from the range of foods the company sells.

The one-month initiative, which was officially launched during a breakfast event at the Grantley Adams International Airport (GAIA) today, will see passengers travelling on select flights to Antigua, Trinidad, Grenada and Dominica being treated to those samples.

Senior Commercial Manager at LIAT Derrick Frederick revealed that similar initiatives had also been rolled out in Trinidad, St Kitts and St Lucia and would cater to four flights daily out of Barbados.

“As many of you would know, LIAT is a major artery for Caribbean traffic and Barbados itself is a major hub for traffic within the region.

“LIAT is always looking to partner with progressive companies to enhance our service to the travelling public…and I think with an initiative such as this, there is only one winner. The only real winners in this will be our customers,” Frederick noted.

He insisted that the initiative was a timely one, with the months of July and August being high traffic periods.

Despite not going into detail, Frederick also revealed that LIAT would be launching several other initiatives in the coming months.

Corporate communications specialist at GAIA Keith Goddard lauded the collaboration while revealing that LIAT was a key partner for the success of the airport.

He confirmed that LIAT was the largest mover of air passenger traffic through GAIA, with over 408 000 passengers in 2012, 389 000 in 2013 and 189 000 so far for the year.

Brand manager for Colcafe Shaundel Alleyne was also on hand for the launch and she praised the collaborative effort between the two entities, saying that it gave Brydens and Stokes the opportunities to reach more consumers. (RB) | 7/23/14 3:20 PM
Political rhetoric heats up in Dominica

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here . | 7/23/14 12:32 AM
No new or increased taxes, says Dominica PM

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here . | 7/23/14 12:32 AM
CDB supports energy project

THE CARIBBEAN DEVELOPMENT Bank (CDB) will be assisting the Dominica Agricultural Industrial and Development Bank (DAIDB) in implementing a pilot initiative in financing energy efficiency investments by the micro, small and medium-sized enterprises (MSME) in the productive sectors. CDB will provide a loan of US$500 000 to help fund the project.

The project is part of an energy efficiency/renewable energy (EE/RE) programme being rolled out in some of the Bank’s Borrowing Member Countries (BMCs) that seeks to encourage greater use of EE/RE and clean energy technologies as part of a wider CDB green economy initiative.

The project in Dominica should result in greater savings in energy consumption and fossil fuel usage derived from the implementation and use of EE/RE technologies deployed MSMEs; the enhanced capacity of DAIDB to identify, appraise and supervise EE and RE projects; and better awareness of the use of EE/RE technologies that contribute to a reduction in energy usage.  

CDB’s Caribbean Technological Consultancy Services will also provide technical assistance through the provision of energy audits, business plans and technical oversight during sub-project implementation.

 Several BMCs are now collaborating with CDB and other development partners to climate-proof their shorelines by building sea defences, and retro-fitting roads and other infrastructure to enable them to endure the now harsher climate conditions. CDB is also working with Canada’s Department of Foreign Affairs, Trade and Development (DFATD), DFID, and the European Union to create more climate-resilient communities. (PR) | 7/22/14 12:30 PM

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