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Finance/Business

Gov’t to decide on future of Radio Saint Lucia

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A decision on the future of the state owned Saint Lucia Broadcasting Corporation (Radio St. Lucia) will be made soon by government, Information and Broadcasting Minister Dominic Feedee has revealed. Fedee told the media on Friday (Jan.20) that Cabinet is awaiting a report from the board of directors, before it decides on the next move for the cash-strapped broadcasting company. “We have ...

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Laverne Gedeon is $27,000 richer thanks to Courts St. Lucia

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PRESS RELEASE – Courts St. Lucia, the “Authorized” retailer of Frigidaire appliances in St Lucia and across the OECS continues to demonstrate to their valued customers why it pays to shop at the superstore. St. Lucians both home and abroad who purchased a Frigidaire appliance for the season in store or online at www.shopcourts.com would have qualified for a chance ...

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St. Lucia readies for VAT reduction

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PRESS RELEASE – The Inland Revenue Department wishes to remind the general public of the recent legislative amendment to the Value Added Tax (VAT) Act as per Statutory Instrument (SI) No.101 of 2016, which reduces the standard VAT rate from 15% to 12.5%, effective February 01, 2017. As such, all VAT registered businesses are required to make the necessary adjustments ...

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3rd staging of the most colorful Fun Run

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PRESS RELEASE – For the third year running, Liive Productions’ Dash Independence Colour Run is all set to add some more colour to the landscape of official activities for the commemoration of the anniversary of the island’s 38th independence. Slated for February 19th, 2017, the highly anticipated event will start at the Massy Mega car park at 6:00am to 10:00am and ...

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Workshop on productivity improvements for SMEs to be hosted in St. Lucia

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PRESS RELEASE – Senator the Honourable Dr. Ubaldus Raymond, Minister in the Ministry of Finance is slated to deliver the keynote address at the St. Lucia Employers Federation (SLEF) upcoming Membership Workshop entitled “Productivity Improvements for Small and Micro Enterprises” on January 18, 2017 at the Bay Gardens Hotel at 9:00 am. The workshop will be held in collaboration with the ...

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Leadership changes at Bay Gardens Resorts

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PRESS RELEASE – The locally owned and operated award-winning resort chain, Bay Gardens Resorts in St. Lucia, announced today that it has made key leadership changes. The Bay Gardens Resorts Board of directors, who have spent significant time strategizing the way forward in 2017, recently announced a number of personnel moves at the senior leadership level that they believe will ...

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St Jude Audit: Gov’t will start holding companies accountable

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Economic Development Minister Guy Joseph has said that the technical audit interim report on the St Jude Hospital Reconstruction Project will be used as a guide for the current administration. Joseph told the media on Monday (Jan.16) that government will start holding companies accountable for work that they have been paid to deliver, because government is loosing too much money. ...

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Digicel transforms the lives of customers with #GetGifted promotion

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PRESS RELEASE – The region’s leader in telecommunications and entertainment has yet again delivered in transforming the lives of its customers. On Saturday January 7th, Digicel held the highly anticipated grand prize draw of its 2016 Christmas promotion, #GetGifted at its Bridge Street store from 2:00 pm. Gabriel Felicien, Michael Ephraim, Michael Charles and Ramez Cheriki  were all heftily enriched ...

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Taiwan, St. Lucia sign MOU to promote cooperation in the exchange of Financial Intelligence

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PRESS RELEASE – Republic of China (Taiwan) and Saint Lucia inked Memorandum of Understanding Concerning Cooperation in the Exchange of Financial Intelligence Related to Money Laundering, Associated Predicate Offences and Terrorism Financing on January 9, 2017. Mr. Paul Thompson, Director of Financial Intelligence Authority signed the MOU on behalf of the Saint Lucian government at a brief ceremony held at ...

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Digicel launches New Year’s Text to Win game

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PRESS RELEASE – As the leader in innovation and delivery of best value to customers, Digicel has commenced the New Year with providing customers with even more value and amazing offers. On Wednesday January 6th, 2017 Digicel announced it’s ‘New Year’s Resolution’ Text to Win promotion.  This January’s Text to Win Game is aimed at assisting customers in setting and ...

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Major call centre investment for Saint Lucia

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A major US-based call centre will be launched in Saint Lucia creating hundreds of jobs, Prime Minister Allen Chastanet has announced. Chastanet said the partnership will be facilitated though a company in Austin, Texas called Ojo Labs,which is launching a huge artificial intelligence with call centres. “I am very excited. I think when people see the actual facility that is ...

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20 Courts customers win $700 worth of electricity each

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PRESS RELEASE – Saint Lucia’s Leading retailer of the world’s best brands in home appliances and furniture products, Courts St Lucia, kick starts the New Year with a special gift for twenty of the company’s valued customers. The superstore announced that any customer who purchased a Mabe appliance from October 22nd to November 30th 2016 would have qualified to win ...

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St. Lucia now runs least expensive Citizenship by Investment Program

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PR NEWSWIRE – The Honourable Prime Minister of St. Lucia, Allen Chastanet has announced new improvements made to the citizenship by investment program. The changes will take effect from 3rd January 2017, which when all fees are calculated will make St. Lucia’s Citizenship-by-Investment program the least expensive ahead of the popular Commonwealth of Dominica passport program. Jeremy Savory, CEO & ...

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Gov’t confirms CIP changes

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PRESS RELEASE – The Government of Saint Lucia makes changes to the Citizenship by Investment Regulations No. 89 of 2015. On December 22nd, 2016, the minister to whom citizenship by investment is assigned signed a statuory instrument making amendments to the Citizenship by Investment Regulations No. 89 of 2015. At this time, these are the only changes that have been ...

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New spa manager at the Landings

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PRESS RELEASE – The Landings Resort & Spa has rejuvenated what it means to go ‘spa-ing’ in Saint Lucia. With the addition of Spa Manager Ms Georgina Sacasas late last year, the resort has unveiled a New Menu of treatments balanced with an innovative mix of health and wellness accompaniments all aimed at enhancing the experience. Hailing from a British ...

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Caribbean Association of Banks mourns the passing of Sir Dwight Venner

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PRESS RELEASE – The members of the Caribbean Association of Banks (CAB) are profoundly saddened by the passing of Sir Dwight Venner, former Governor of the Eastern Caribbean Central Bank (ECCB) and a most distinguished son of the Caribbean. Sir Dwight steered the ECCB with distinction for twenty six (26) years until his retirement in 2015. He was very passionate ...

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St. Lucia News Online launches instant news notification for mobile and computers

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St. Lucia News Online today (Dec. 30) announces the launch of an instant news notification system so readers can have quicker access to breaking news, press releases, regional/international news, and important notices. The instant notification works through the browsers of both phones and computers and allows subscribers to get news as soon as they are uploaded to the website. St. Lucia News ...

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Attorney says Saint Lucia to make significant changes to CIP

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An attorney for the Citizenship By Investment Programme (CIP), Nicholas John, claims that the Government of Saint Lucia will be making significant changes to the programme effective January 2017. In John’s post on LinkedIn on Thursday, December 29, 2016, he said that Prime Minister Allen Chastanet has issued an amendment to the Citizenship by Investment Regulations No.89 of 2015. The following ...

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Bankers Association mourns passing of Sir Dwight Venner

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PRESS RELEASE – The Bankers Association of Saint Lucia mourns the passing of Sir Dwight Venner. Sir Dwight made a significant impact on the financial services sector within Saint Lucia and the wider OECS territory, having served as Governor of the Eastern Caribbean Central Bank (ECCB) from 1989 to 2015. Sir Dwight was well respected by the banking industry given ...

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NWU undertakes operational study in Vieux Fort

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PRESS RELEASE – The National Workers Union (NWU) is currently undertaking an operational study in Vieux Fort. During the last four (4) years, members and branch units in Vieux Fort have been demanding that the NWU establish an operational branch unit in Vieux Fort. Should the study establish that the organization could sustain the costs of operating in Vieux Fort ...

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Dwight Venner, a West Indian patriot

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Institution-building is a difficult task anywhere, but especially so in the Caribbean where institutions are often undermined by particular interests, or fall into desuetude for lack of commitment or funding, or both. Dwight Venner, who died in St Lucia on December 22, was an institution builder. He took the reins of a mere currency board and transformed it into a ...

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Blue Waters responds to ‘mischievous allegations’ about Giant African Snails

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PRESS RELEASE – Blue Waters Products Limited (Saint Lucia) has become aware of a mischievous message which originated from Trinidad alleging the presence of the Giant African Snails on the compound. As such a Public Advisory has been issued in Trinidad to clarify. For the reassurance and confidence of our loyal Saint Lucian customers we reproduce the advisory as follows: ...

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Chamber of Commerce statement on the passing of Sir Dwight Venner

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PRESS RELEASE – The St. Lucia Chamber of Commerce Industry and Agriculture, wishes to express its profound sadness on learning of the passing of Sir Dwight K.Venner, former Governor of the Eastern Caribbean Central Bank and a former Director of Finance in St. Lucia. Sir Dwight was a strong friend of the Private Sector and in his work in various ...

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St. Lucian gov’t salutes “Unparalleled genius” Sir Dwight Venner

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PRESS RELEASE – It is with profound sadness that the Government of Saint Lucia has learnt about the passing of Sir Kenneth Dwight Vincent Venner, KBE, SLC, and the former Governor of the Eastern Caribbean Central Bank (ECCB). The Government joins the people of Saint Lucia in mourning the death of this great man who contributed so much to the development of Saint ...

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ECFH mourns the passing of Sir Dwight Venner

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PRESS RELEASE – The East Caribbean Holding Company Limited (ECFH) and all its subsidiaries including Bank of Saint Lucia Limited (BOSL) and Bank of St. Vincent and the Grenadines Limited (BOSVG) mourns the passing of Sir Dwight Venner, former Governor of the Eastern Caribbean Central Bank (ECCB).   Sir Dwight served as a stalwart of the financial services sector in ...

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Sir Dwight Venner dies

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Former Governor of the Eastern Caribbean Central Bank (ECCB) Sir Dwight Venner has died. Reports are that Venner passed away at Tapion Hospital on Thursday night. In late 2015 Venner announced his retirement after 26 years of service in his position as governor. He stepped down at the end of November 2015. Venner was the longest-serving governor of any central ...

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Digicel disagrees with analysts on state of business

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JAMAICA OBSERVER – Digicel group has issued a brief statement to say that it “fundamentally disagrees with the conclusions of the report” issued this past weekend by the Irish Times, which hinted that viral distress faces the company which has debt of US6.2-billion debt at 6.2 times earnings. While its debts are in US dollars, the company is trying to ...

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CDP contractors to receive outstanding payments

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Outstanding payments for projects completed under the Constituency Development Programme (CDP) during the Saint Lucia Labour Party’s (SLP) stint in government are now being honored. There have been reports that the current administration has given its approval for payment of million dollars, to hundreds of contractors island wide, which commenced about two weeks ago. While the process has been slow ...

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Extended shopping hours for Christmas season

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PRESS RELEASE – The Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs wishes to inform the public and the business sector that Cabinet considered a request from the St.Lucia Chamber of Commerce, Industry and Agriculture and approved extended shopping hours during the 2016 Christmas Season as follows: Monday 12th to Friday 16th December until 9:00 p.m. Saturday ...

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Bay Gardens Resorts nominated for awards

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PRESS RELEASE – The locally owned and operated award-winning resort chain, Bay Gardens Resorts in St. Lucia, announced today that it has been nominated for two awards for “Marketing Excellence” and “Idea of the Year”. The award nominations came from the St. Lucia Chamber of Commerce, Industry and Agriculture for the 2017 installment of its St. Lucia Business Awards. The ...

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Gov’t sends condolences on the passing of Christopher Renwick

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PRESS RELEASE – On behalf of the Government of Saint Lucia, Prime Minister Honourable Allen M. Chastanet has extended condolences to the family and friends of Mr. Christopher Renwick, O.B.E. who passed away on Saturday 17th December 2016. Mr. Renwick was the founder and Managing Director of Renwick & Company Limited. “Chris Renwick truly embodied the entrepreneurial spirit as evidenced ...

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SLASPA offers extended hours for clearing of goods

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PRESS RELEASE – The Saint Lucia Air and Sea Ports Authority (SLASPA) wishes to inform its valued customers of extended operating hours at Port Castries and Port Vieux Fort during the impending Holiday Season. The Castries Cargo Sheds 6 & 7 and Port Vieux Fort will be open on the following dates and times to facilitate the clearing and delivery ...

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Mistik Brand launched

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PRESS RELEASE – Announcing the most anticipated and unique brand out in St. Lucia right now. we are referring to the #Mistik Brand which incorporates the #Mistik Clothing Line as well as the Mistik Movementz Entertainment page. M.I.S.T.I.K means MEMBERS INFLUENCE SUCCESS TEAMWORK IS KEY The slogan of the Clothing line is ‘We bring out your sexiness’ primarily because of ...

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Proven Investments Jamaica to purchase BOSLIL

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JSE – Proven Investments Limited (ProvenJA) has advised that he Company entered into an Agreement for Sale and Purchase of Shares to acquire 100% of common equity of Bank of Saint Lucia International Limited (BOSLIL) from East Caribbean Financial Holding Company Limited for an undisclosed consideration. The proposed acquisition by Proven Investments Limited is subject to regulatory authority and approvals in ...

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COURTS invites nominations for annual Christmas Wish List Campaign

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PRESS RELEASE – Courts; the islands leading retailer of the world’s best – brands has officially began preparations for its’ annual charity drive dubbed “Wish List.” This year the company has committed to donations valued at approximately twenty thousand EC dollars’ to deserving persons Island wide. The Courts Wish List initiative was officially launched in 2010 with one primary focus; ...

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CAB conference looks to the future of banking and the path to regional financial prosperity

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PRESS RELEASE –  The Caribbean Association of Banks (CAB) concluded its 43rd Annual General Meeting and Conference under the theme: “Caribbean Banking: Fresh Tools, New Thinking” in Curacao on 16th-19th November, 2016. The conference served as a watershed event for banking stakeholders around the region to discuss the challenges facing the industry and to explore relevant solutions. The event provided ...

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Massy United Insurance is in the spirit of giving this season

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PRESS RELEASE – Traditionally, at Christmas time, Massy United would express their appreciation for the support and patronage of their clientele with a token gift of thanks. This year, however, the decision was made to celebrate the spirit of the Season of Giving by sharing with those less fortunate in the community they serve. There is an old adage, which ...

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Pilots fined, probe into Liat continues

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ANTIGUA OBSERVER – The Eastern Caribbean Civil Aviation Authority (ECCAA) has fined two senior Liat pilots who flew an aircraft in contravention of aviation regulations in September. Chief Training Captain Christopher Cameron was fined EC$5000, while his co-accused, Chief Pilot Wayne Austin McDonald was fined EC$3000, a source with knowledge of the probe confirmed. The Leeward Islands Airline Pilots’ Association ...

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The Landings new Executive Chef introduces an exciting array of healthy cuisine

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PRESS RELEASE – The Landings Resort and Spa announces the latest addition to its world class culinary team, Chef Bill Munn. As a 30-year culinary veteran, Chef Bill brings a well-seasoned repertoire to the Landings team taking up the Executive Chef position this summer.  Guests at Wednesday night’s corporate mixer were able to enjoy an amazing array of hors d’eouvres prepared ...

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St. Lucian startup founder of P.T.A makes PitchIT 2016 finals

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PRESS RELEASE – Philip Wells, the entrepreneur behind the mobile app startup Parent Teacher Advisor made the finals of the PitchIT 2016, which was recently held in Trinidad & Tobago on December 2 -3, 2016. The entrepreneur was one of 25 finalists competing for more than US$75,000 in cash and prizes through the challenge organized by the Caribbean Mobile Innovation ...

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Flea market vendors reverted to Jeremie Street

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PRESS RELEASE – His Lordship Mayor Peterson Francis, after consultation with the flea market vendors, has decided to return the popular flea market to its original Jeremie Street location. For the past two Saturdays, vndors were temporarily relocated to the lower end of the John Compton Highway adjacent to the vendor’s arcade as part of a trial to deal with ...

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Taxi drivers upset over decision to close Lower John Compton Highway

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Some 30 taxi drivers who are registered members of the Independent Market Taxi Association and who operate adjacent to the Castries Vendors’ Arcade have voiced their concern over the closure of lower end of the John Compton Highway every Saturday by the Castries City Council (CCC). President of the association, Thomas Placide, has said that when his members showed up for work ...

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Arcade vendors urge CCC to reconsider decision to impose VAT

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Several vendors of the Castries Vendors Arcade are shocked and surprised that the Castries City Council (CCC) has taken a decision to impose Value Added Tax (VAT) on their rental fees. The vendors said this was done without consultation with them and at a time when their business income is very low. They said though $18 may seem little to ...

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Saint Lucian officials attend complete stock-taking exercise

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PRESS RELEASE – Compete Caribbean which emerged in 2010, was designed in an effort to support private sector development and promote competitiveness throughout the region. The programme, a joint initiative of the Inter-American Development Bank (IDB), the Canadian Development Agency (CIDA) and the United Kingdom’s Department for International Development (DFID), has benefited over 15 Caribbean countries and resulted in the ...

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BOSL suffers rise in bad loans; gov’t to remain shareholder

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The Bank of Saint Lucia (BOSL) is now shouldering the burden of a hefty $300 million dollars in bad loans. However, the Government of St. Lucia has assured the general public that it is their responsibility to keep the bank buoyant. Minister with in the Finance Ministry Dr. Ubaldus Raymond said the issue requires urgent attention. The Senator said the ...

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Baron Foods (Grenada) Limited wins Business of the Year Award 2016

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PRESS RELEASE – Baron Foods (Grenada) Limited, has won the Business of the Year award at the 28th annual business awards of the Grenada Chamber of Industry and Commerce (GCIC). The gala awards ceremony was held at the Grenada Trade Centre in Grand Anse on Saturday, November 26th 2016. In attendance was our Administrative Manager who received the award. The ...

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Illness hits LIAT’s bottom line

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ANTIGUA OBSERVER – LIAT pilots have blamed a region-wide flu outbreak and the Zika virus for crew-affected illnesses that the airline said is costing it millions in revenue and affecting thousands of passengers. OBSERVER media was recently afforded the opportunity to peruse documents that showed just how the absence of pilots and cabin crew — due to the illness — ...

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Executive diplomas for Massy Stores leadership team

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PRESS RELEASE – The Leadership Team at Massy Stores (SLU) Ltd. is now better equipped to handle the challenges of their jobs. Over the last eight months the team of twenty two have been undergoing an intensive leadership development programme designed to build and enhance their capacities to lead their teams. The programme was developed and facilitated by St. Lucian ...

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New digital marketplace launched to aid small businesses

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PRESS RELEASE – Global Entrepreneurship Week (GEW) was declared opened by Hon. Bradley Felix – Minister in the Office of the Prime Minister with responsibility for Commerce, Industry, Investment, Enterprise development and Consumer affairs. As the closing activity of the official launch of GEW the Sales Only App was unveiled to a packed Sandals Halcyon ballroom comprising of Government officials, ...

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Gov’t receives approval to reinstate suspension of CET on pharmaceuticals

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PRESS RELEASE – The Government of Saint Lucia has received approval from the Council on Trade and Economic Development (COTED) to suspend the Common External Tariff (CET) on pharmaceuticals. When the issue of the expiration date for the waiver of the CET came to the Government’s attention in September of this year, both Prime Minister Honourable Allen M. Chastanet and ...

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CIP to host public consultation

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PRESS RELEASE – The Citizenship by Investment Unit officially began accepting applications for citizenship by investment on January 4th, 2016. As the end of the first year of operations approaches, the Unit is involved in a wide ranging assessment of the programme. To date, the following activities have been undertaken: 1. Survey of key stakeholders and the public; and 2. ...

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John Reid confirmed as CEO of Cable and Wireless

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PRESS RELEASE – John Reid has been confirmed as Chief Executive Officer of C&W Communications (“C&W”, or the “Company”) effective November 7, 2016. C&W serves 18 countries and is one of the largest full service telecommunications and entertainment providers in the Caribbean and Latin America. The Company was recently acquired by Liberty Global plc “Liberty Global”, the world’s largest international ...

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Flood-Beaubrun attends international business forum in Cancun

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PRESS RELEASE – The Embassy of Mexico has the pleasure to inform of the success of the International Business Forum of the Greater Caribbean, which took place in Cancun, Mexico, from the 16th to the 18th of November. Numerous representatives from the business sectors and governments of the region attended the Forum, which saw the participation of over 160 companies ...

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Martin Dorville is new Chamber of Commerce president

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PRESS RELEASE – Martin Dorville Managing Director of Massy Stores (SLU) Ltd. is the New President of the St. Lucia Chamber of Commerce Industry and Agriculture. Mr. Dorville was elected unopposed at the 132nd Annual General Meeting of the Chamber held at the Royal St. Lucian Hotel on Wednesday 16th November, 2016. Mr. Dorville takes over the Presidency at a ...

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Digicel customers to get gifted this Christmas

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PRESS RELEASE – The Pearl on Thursday November 17th, was the setting of yet another historic Christmas Launch for the region’s leading telecommunications and entertainment provider, Digicel. Digicel St. Lucia unveiled its grand 2016 Christmas campaign themed ‘#GetGifted’ and has yet again raised the bar to ensure St. Lucians all have an opportunity to enjoy an extraordinary Christmas. Digicel’s #GetGifted ...

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Flow customers enjoy ‘Most wonderful time of the year’

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PRESS RELEASE – Flow is heralding the Yuletide season with a Christmas campaign designed to be one of the most memorable ever, with lots of giveaways and specials including cash and prizes to be dished out to our customers. On Wednesday, the company unveiled its 2016 Christmas promotion aptly named ‘The Most Wonderful Time of the Year’ at the William ...

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Private sector relief takes focus at Chamber of Commerce AGM

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PRESS RELEASE – The Saint Lucia Chamber of Commerce membership had some major questions for Minister in the Minister of Finance Honourable Dr. Ubaldus Raymond after he addressed the Annual General Meeting on Wednesday 16th November 2016 at the Royal St. Lucian Hotel. Held under the theme “Making it Easier to Do Business” members of The Chamber of Commerce, Industry ...

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Review of island’s tax regime an ongoing exercise

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PRESS RELEASE – The Government of Saint Lucia will continue to review the tax regime of the country with a particular concentration on the Value Added Tax (VAT). A review will be ongoing in order to ensure the formulation of a most effective tax structure for the island’s economic and fiscal viability. This commitment was given to the citizenry by ...

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Gov’t yet to decide whether to reduce VAT exemption list

Minister Dr. Ubaldus Raymond.

One of the recommendations coming out of a joint Caribbean Development Bank (CDB) and Eastern Caribbean Central Bank (ECCB) report which looked at Saint Lucia’s overall economic performance, was to reduce the number of items on the Value Added Tax (VAT) exemption list. But Senator Dr. Ubaldus Raymond, a minister within the Ministry of Finance has said that the government is ...

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Parliament approves Christmas barrel concessions for 2016

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PRESS RELEASE – The much anticipated concessions on Christmas barrels are on again for the festive season. Government has announced a 100 percent waiver of import duty on barrels imported between December 1, 2016 and February 15, 2017. By Cabinet Conclusion No. 295 of October 24, 2016, Government approved the following concessions with regard to the Christmas Barrel Trade: 100 ...

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