Caribbean Business And Finance Report


By NAN Business Editor

Americas, BRIDGETOWN, Barbados, Fri. Aug. 9, 2019:
are the top business stories making news from the Caribbean for this week of Aug.
9, 2019:

US Diaspora

Sandals Resorts, part of the parent company Sandals Resorts International, continued advertising on the controversial FOX News show of conservative host Tucker Carlson’s nightly series, Tucker Carlson Tonight. This despite ongoing controversial statements by Carlson including the latest on the mass shootings last weekeNd

In the wake of two mass shootings in America that left dozens
dead, Carlson called Americans’ growing concerns about the rise of white
supremacy and white nationalism a “hoax,” during his opening
monologue on Tuesday. It’s a “conspiracy theory used to divide the
country,” he said, lashing out at the media for criticizing President
Donald Trump’s response to the shootings in El Paso, Texas and Dayton, Ohio.

“The whole [white supremacy issue] is a lie,” Carlson
added. “It’s actually not a real problem in America.” Following the
host’s remarks, #FireTuckerCarlson began trending on Wednesday, with thousands
of Americans calling on Fox News to dismiss the host from his job.

Trinidad and Tobago

Some 40 prominent
businessmen from south, central and east Trinidad are reportedly linked to
major drug and human traffickers, gun runners, gang leaders and murderers and
have been named in a T&T police intelligence report obtained by Guardian
Media. The Guardian report said the business­men pay hitmen to execute people
who inter­fere with their business and illicit operations and hire gang leaders
in particular areas to provide security on various projects.


Guyanese authorities have
approved a plan presented by CGX Energy and its partner Frontera Energy to
re-sequence the work program for the offshore Corentyne block.

The companies put forward
the revised work program so they can gain a better technical understanding of
the block – and its northern section in particular – before launching drilling
work on an exploration well. Canadian companies CGX and Frontera are joint
venture partners in the block, with CGX as the operator.


Dominica’s Citizenship by
Investment (CBI) Programme is expected to make up 51 percent of the country’s
total recurrent revenue and 25 percent of its estimated GDP for the upcoming
2019-2020 fiscal year according to Prime Minister of the Commonwealth of
Dominica, Roosevelt Skerrit.

Turks and Caicos

Bruce Willis’ has sold
his longtime Caribbean compound in the Turks and Caicos for $27 million
following five months on the market. That’s about 18% less than the $33 million
he was asking in March.


The Caribbean Court of
Justice, (CCJ) this week upheld the classification decision of the CARICOM
Council for Trade and Economic Development (COTED), on Rock Hard Cement.

The cement is imported
and/or distributed within CARICOM by Rock Hard Distribution Limited, Mootilal
Ramhit and Sons Contracting Limited and Rock Hard Cement Limited. Tuesday’s
judgment settled the dispute as to whether Rock Hard Cement ought to be
classified as ‘Building cement (grey)’ and be charged a CARICOM tax of 15% when
imported into the region, or as ‘Other hydraulic cement’ in which case a levy
of 0-5% would be payable.

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