Finance/Business

ECCB governor says 2018 was “relatively good” for Eastern Caribbean countries

(CMC) – Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, has said this year has been a “relatively good one” for the sub-region and that an exciting period beckons in 2019. Antoine, in his Christmas message, said 2018 has had several challenges for the Eastern Caribbean Currency Union (ECCU) including climate change and a paucity of resources for ...

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Economics minister believes George F.L. Charles Airport could become hub for regional business

(SNO) — Economic Minister, Guy Joseph, believes that Saint Lucia has the potential to attract regional businesses and the George F.L. Charles Airport, located in Castries, has an integral role to play in achieving that goal. Speaking on Radio 100’s ‘Drive By’ with Russell Lake, Joseph said the government’s plans for both Castries and Vieux Fort call for having both the ...

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Sagicor seeks to re-assure Caribbean customers

(CMC) – Sagicor Financial Corporation (SFC) is seeking to re-assure Caribbean nationals that the move by the Canadian-based, Alignvest, to take over its operations, will not adversely impact its business in the region and North America SFC recently announced that it had agreed to sell its shares, valued at US$536 million, to the special purpose acquisition firm Alignvest Acquisition II ...

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Fly Jamaica gets multi-million dollar award

(CMC) – A High Court judge has awarded Fly Jamaica Limited, US$4.2 million in damages for breach of contract against ADS Global Limited, the company that operated the airline’s call centre from 2012 to 2014. Justice Carol Edwards, gave the ruling Friday in the Commercial Division of the Supreme Court, after the airline, which began operations in 2012, claimed that ...

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Bay Gardens Resorts’ guests cash in on new loyalty program

(PRESS RELEASE) – Bay Gardens Resorts of St. Lucia is registering a lot of interest by giving its guests cash back through its new loyalty program called The Guestbook. The Guestbook is the world’s first cash back hotel loyalty program which rewards members for booking direct at more than 625 of the best independent and boutique brand hotels in major ...

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Sagicor clarifies “arrangement agreement” with Alignvest

(PRESS RELEASE) — On November 27, 2018, Sagicor Financial Corporation Limited (SFC) announced that it had entered into an “Arrangement Agreement” with Alignvest Acquisition II Corporation (Alignvest) which heralds in yet another significant milestone in the long and storied history of our company. Through this transaction, Sagicor will acquire a listing on the Toronto Stock Exchange, where it will have international ...

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ECLAC predicts Caribbean economies will grow 2.1 per cent in 2019

(CMC) – The Economic Commission for Latin America and the Caribbean (ECLAC) is predicting that Caribbean economies will grow 2.1 percent in 2019 even as it acknowledged an international scenario marked by what it describes as “greater uncertainty”. ECLAC also projected that the region will end 2018 with average growth of 1.2 per cent. “The year 2019 looks to be ...

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Flow and Feed The Poor share Christmas cheer

(PRESS RELEASE) — Every year at Christmas time, family and friends share food, drink, and companionship. But not every citizen is so privileged as to enjoy seasonal cheer, and for some such citizens, Saint Lucia and the Caribbean’s leading telecommunications service provider was able to step in and help them get, literally, a taste of the festive period. Flow teamed ...

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Peter & Company opens new ‘Food Mart’

(PRESS RELEASE) — Just before the holidays, Peter & Company Distribution (PCD), has opened a new retail outlet, giving customers a fresh shopping experience here in Saint Lucia. PCD Food Mart opened its doors on December 20, 2018 at the S&S plaza in Bois D’Orange. And, already customers are singing the praises of the outlet. “It’s good to have something ...

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SLASPA welcomes US$100 million loan for upgrading Hewanorra International Airport

(SNO) — Acting General Manager of the Saint Lucia Air and Sea Ports Authority (SLASPA), Daren Cenac, has welcomed a loan agreement of US$100 million which will go towards the upgrading of the Hewanorra International Airport in Vieux Fort. He said for years the company has faced challenges in operating the facility. “We welcome the announcement of the loan guarantee ...

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“Free WiFi” for Castries launched

(SNO) — The Saint Lucia government on Wednesday (Dec. 19) officially launched the Government Island Wide Network (GINET) Wi-Fi Zone for Castries, Prime Minister Allen Chastanet has announced on Facebook. He said members of the public can now access “free WiFi” in the following areas in Castries: Government buildings (Waterfront), Serenity Park, Derek Walcott Square, Central Market, Craft Market, Constitution Park, ...

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NOTICE: Welfare and Public Assistance Programme payments

(PRESS RELEASE) — The Ministry of Equity, Social Justice, Empowerment, Youth Development, Sports, Culture and Local Government would like to inform clients of the Welfare and Public Assistance programme that payments continue until Friday, 21st December, 2018. Clients who do not receive payments via their bank accounts are asked to visit the Castries City Council for their payments on the ...

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Labour minister rules in favour of former Soufriere Hot Wire Rides employees

(PRESS RELEASE) — Labour Minister Stephenson King has ruled in favour of the five former employees of Soufriere Hot Wire Rides Ltd. The company made the services of these employees redundant without following the process enshrined in the Labour Act 2006 section 369. The workers, who were represented by the National Workers Union (NWU), had the opportunity to present their ...

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Tourism official laments high cost of doing business in Saint Lucia

(SNO) — Chief Executive Officer of the Saint Lucia Hotel and Tourism Association, Noorani Azeez, is lamenting the high cost of doing business on the island, saying it is a very challenging task. He was speaking against the background of the abrupt closure of Blu Hotel recently. “We continue to lament the high cost of doing business in Saint Lucia, ...

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ECCB calls for “calm and patience” over Republic’s application to acquire Scotiabank operations in ECCU

(PRESS RELEASE) – The Monetary Council of the Eastern Caribbean Central Bank (ECCB) is encouraging citizens and residents of the Eastern Caribbean Currency Union (ECCU) to remain calm and exercise patience as the ECCB reviews the application from Republic Financial Holdings to acquire Scotiabank’s business in the ECCU. The ECCB received an application on Tuesday, 27 November, from Republic Financial ...

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Sandals denies allegations made on US television

(CMC) – The Jamaica-based Sandals Resorts has categorically denied allegations that it is covering up allegations of sexual assault on two American female guests insisting that it stands ready to “vigorously defend itself in court”. In a statement, Sandals said “recent allegations of cover-ups by our organisation are false and are gross misrepresentations of not only the facts but who ...

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CDB launches Cultural and Creative Industries Innovation Fund

(CMC) – The Barbados-based Caribbean Development Bank (CDB) says it has launched a new fund to provide financial support and stability for the region’s cultural and creative industries. It said the Cultural and Creative Industries Innovation Fund (CIIF) will provide grants for innovative projects within the creative industries sector and was established with an initial US$2.6 million contribution from CDB. ...

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Sandals Resorts International wins big at World Travel Awards

(PRESS RELEASE) — Sandals Resorts International is thrilled to have been recognized at the prestigious 25th Annual World Travel Awards Grand Final Gala Ceremony, demonstrating the brand’s continued commitment to excellence. Most notably, Sandals Resorts International took home the World’s Leading All-Inclusive Company award for the 23rd consecutive year. The Luxury Included® resort company rose above other highly acclaimed hotel ...

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Flow investigating intermittent mobile call failure

(NOTICE) — Flow advises that we are aware that voice calls from Flow mobile have been failing to other networks, due to an unidentified problem, which emerged earlier this week. Core engineers from both providers concerned have been working towards resolving this unfortunate problem in recent days, and we are hopeful of a swift conclusion and restoration of normal service. ...

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Life-threatening illness could be caused by eating recalled ‘Fiesta Corn’, company warns

(CMC) – The US company, Del Monte Foods has recalled over 60,000 cases of incompletely sterilized canned corn from eight countries in the region. The countries affected by the recall of Del Monte “Fiesta Corn” are Guyana, Bahamas, Barbados, Belize, Bermuda, Haiti, Aruba, St Lucia and Suriname. The other countries are El Salvador, Uruguay and Panama. The company says the ...

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PM: Hewanorra International Airport Redevelopment Project to take off in the New Year

(PRESS RELEASE) — The People of Saint Lucia are finally set to see the Hewanorra International Airport Redevelopment Project take off as the Government of Saint Lucia continues to deliver on its promise to expand and improve local infrastructure. This project is essential to Saint Lucia’s overall economic growth, especially as the island continues to expand as a leader in ...

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Curaçao set to become a second hub for TCI based Inter-Caribbean Airline

(CMC) – Curaçao is set to become a second hub for Turks and Caicos-based Inter-Caribbean Airline as it assumes operations of Curaçao-based InselAir International in the coming weeks. InselAir President and Executive Chairman Lars de Brabander in an interview with The Daily Herald said the airline will continue to exist, but under a new brand. Inter-Caribbean does not have air ...

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Excellent Stores St. Lucia celebrates family this Christmas season

(PRESS RELEASE) — Excellent Stores St.Lucia this week held its first annual Christmas Family Fun Day and Motorcade. The event commenced with a motorcade from Rodney Bay to the Derek Walcott Square where Santa and his Elves dished out gifts and Christmas cheer to children of the community. The motorcade then headed back to the store at the Johnson’s centre ...

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Grenada PM calls for easier intra-Caribbean travel during UWP convention in Vieux Fort

(CMC) – Grenada’s Prime Minister Dr. Keith Mitchell has called on Caribbean countries to make sincere efforts to encourage easier intra-regional travel and do away with the heavy taxes that discourage free movement of the region’s population. “We have to have more transport, sea and air transport. But if we have it and it is too costly, we still don’t ...

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St. Lucia Chamber Board of Directors welcomes five new faces

(PRESS RELEASE) — The 2018/2019 Board of Directors of the St. Lucia Chamber of Commerce Industry and Agriculture revealed five new faces in its ranks. The 134th Annual General Meeting turned out to be one of the most keenly contested election of directors to the Board of the Chamber in many years. Except for the position of second vice president ...

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Karen Peter is new St. Lucia Chamber president

(PRESS RELEASE) — Karen Peter, managing director of Caribbean Metals Ltd., is the new president of the St. Lucia Chamber of Commerce Industry and Agriculture. Peter gained almost total support in her quest and now leads a new-look Board for the 134 year-old Institution. Some five new directors will take their seat for the first time at the service helm of ...

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Sandals Resorts International completes $12-million upgrade

(SNO) — Sandals Resorts International is reporting the completion of a $12-million upgrade at its Halcyon Hotel here in Saint Lucia. The hotel will see upgrades of 76 club rooms as well as the installation of a 540-feet swimming pool. Mark Harding, senior project manager at Sandals, boasted that its pool is the longest in the region. “We think it ...

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CSA concludes wage negotiations with WASCO

(SNO) — The St. Lucia Civil Service Association (CSA) has announced that it has successfully concluded negotiations negotiations with the Water & Sewerage Company Inc. (WASCO) for two trienniums covering the period January 1st 2013 to December 31st, 2018. The Collective Bargaining Agreement was signed by both parties on Friday November 16th, 2018 in the presence of the Labour Commissioner. ...

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Sandals continues unprecedented Barbados expansion

(PRESS RELEASE) — In just four years Sandals Resorts International (SRI) has already positioned itself as the largest operating resort in Barbados, as the company launched another 50 of the most over-the-top luxury suites this past week, bringing the total number of rooms and suites at present to 552. This represents the third major expansion and development project undertaken in ...

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LPG cylinder prices go up in Saint Lucia

(SNO) — The prices of LPG cylinders will be going up in Saint Lucia effective Monday, November 19, 2018. A statement from the Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs, the price changes were done to keep with with changes in international oil prices and government’s application of the modified market pass-through petroleum pricing mechanism. However, ...

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NWU says workers in Saint Lucia are hurting

(SNO) — The National Workers Union (NWU) has said its members are hurting and is making it clear to the government that it wants a lump sum payout for more than 1,000 daily-paid workers employed in the public service. And the union wants that money by Christmas. Tyrone Maynard of the NWU said at a press conference that if its ...

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NURC to conduct training on Utility Regulation

(PRESS RELEASE) — The National Utilities Regulatory Commission (NURC) will be conducting a two-day customized training on Utility Regulation at the Bay Gardens Hotel, from November 15-16, 2018. This training is being conducted with the support of the Eastern Caribbean Energy Regulatory Agency (ECERA) project, which is funded by the World Bank. The training will be facilitated by the Public ...

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Facebook users report outages

(SNO) — If you are trying to log into your Facebook account and cannot do so, you are not alone. Several users of the social network giant have taken to Twitter to announce that they cannot log in. For those experiencing the outage, opening a page on the social media site revealed an error message reading, “Sorry, something went wrong. ...

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Dominican manufacturers look to collaborate with Saint Lucian counterparts

(SNO) — As Dominica’s manufacturing sector continues to recover from the devastating effects of Hurricane Maria, furniture makers are hoping to learn from their counterpart in Saint Lucia. Last week, four wooden furniture manufacturers and one mattress manufacturer visited Dominica on a trip organised by the Saint Lucia Trade Export Promotion Agency (TEPA). President of the Dominica Manufacturing Association (DMA), Severin ...

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Jamaican bank group NCB tops region with $28 billion record profit

(JAMAICA GLEANER) — NCB Financial Group has been solidly ensconced at the top of Jamaica’s commercial banking market for several years, but having just hit another profit milestone and with nearly $980 billion in assets, its managers believe they are well placed to dominate the region. In fact, NCB already claims the title as the largest, most profitable group in ...

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Saint Lucia to host trade show with Taiwan

(CMC) – St. Lucia will host the 11th annual St. Lucia-Taiwan Partnership Trade Show later this month with the organisers hoping that the three-day event will allow for stakeholders from both countries hoping to develop strategic trading and networking alliances. The organisers said that the November 23-25 event will highlight a wide range of quality goods and services from the two ...

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The Landings responds to claims by Sandals

(PRESS RELEASE) — Recently, much has been published and discussed in the media regarding the cessation of construction work on the Sandals La Source Project at Pigeon Island, Gros Islet, due to legal proceedings instituted by The Landings Resort. For those who are unaware, the Causeway linking Pigeon Island to the mainland was created in the 1970’s by dredging the ...

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Assessment report recommends CCC refrain from unplanned projects

(SNO) — It has been recommended that the Castries Constituency Council (CCC) refrain from engaging in unplanned capital projects without first considering its financial state. This is one of several recommendations emanating from a report on the assessment of the operations of the CCC conducted four months ago. That assessment, conducted by consultant Claudia Francis, resulted in a thawing of relations ...

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Saint Lucia Gov’t pumps $20M into SLDB for housing and local business development

(PRESS RELEASE) — The Government of Saint Lucia has delivered on its promise to support the local housing sector and the development of local business by guaranteeing the injection of EC$20Million into the Saint Lucia Development Bank (SLDB). As the Resolution was brought before the House on October 30th, Prime Minister and Minister for Finance, Economic Growth, Job Creation and ...

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Five Saint Lucians capture coveted spots in Sandals Management Trainee Programme

(PRESS RELEASE) — Committed to investing in the development of young people across the Caribbean and continuing to strengthen its succession planning strategy, Sandals Resorts International (SRI) has since 2012, recruited over 100 trainee managers to participate in its Management Trainee Programme (MTP). Most recently, 27 new trainees were selected from among 138 applicants across the region to join the ...

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NHC explores ways to provide low-cost housing: Mangal

(SNO) — Chairman of the National Housing Corporation (NHC) Timothy Mangal has said the organization is exploring ways to provide low-cost housing for Saint Lucians. He said this is being done in collaboration with private investors. “It is very difficult in this country, unless you’ve been subsidized to what we deemed to be low cost housing because of the cost ...

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Saint Lucian manufacturers meet stakeholders in Dominica

(SNO) — Manufacturers from Saint Lucia are to meet with stakeholders in Dominica today (Nov. 8) to see how they can collaborate and work together as the island continues to recover from the ravages of Hurricane Maria. Presently, four wooden furniture manufacturers and one mattress manufacturer are in Dominica on a trip organised by the Saint Lucia Trade Export Promotion ...

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NWU continues to press for Christmas bonus: “Government must put some money on the road”

(PRESS RELEASE) — Government Negotiating Team (GNT) has replied to the National Workers Union’s (NWU) letter to the GNT dated October 15, 2018. The NWU’s letter to the GNT pointed out that Non-established, Daily Paid Watchmen and Constituency Council workers had their wages frozen for three (3) years. This measure brought untold hardship and left economic scars that are quite ...

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Tyrone Maynard re-elected NWU president general

(PRESS RELEASE) — Veteran Industrial Relations Consultant Comrade Tyrone George Maynard was asked to remain in the position of President General of the National Workers Union for another one (1) year term. The NWU last Sunday held its 2018 Annual Congress of Delegates at the Conference Room of the Royal St. Lucian Resort & Spa. Delegates were honoured with the ...

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Hosting of fourth MSME Finance and Equity Symposium

(PRESS RELEASE) — As part of activities in observance of Business Month 2018 under the theme, “Promoting an Entrepreneurial Culture – Innovation and Creativity,” the Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs will be hosting a MSME FINANCE SYMPOSIUM. The objective of this symposium is to enlighten business owners and aspiring entrepreneurs on the various financial ...

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Saint Lucia Chamber hosts encounter with Prime Minister Chastanet

(PRESS RELEASE) — Continuing with its program of facilitating the Chamber’s engagement with Key Government Officials at various levels on issues of importance to its members, the St. Lucia Chamber of Commerce, Industry and Agriculture has organized another event in its Series of Encounters. This time members will have the opportunity to have a one on one engagement with the Honourable ...

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Saint Lucia’s Crystal Clear water wins Grand Gold Quality Award

(PRESS RELEASE) — Windward & Leeward Brewery Limited’s (WLBL) & Du Boulay’s Bottling Company Limited’s (DBC) premium Crystal Clear water was recently awarded with the Grand Gold Quality Award by the International Institute for Quality Selections, Monde Selection. The institute officially recognized WLBL & DBC during its 57th Annual Awards Ceremony held in Valencia, Spain this year. Crystal Clear Premium ...

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Saint Lucian chocolate lauded at prestigious Academy of Chocolate global conference in London

(PRESS RELEASE) — High Commissioner for Saint Lucia His Excellency Guy Mayers joined Hotel Chocolat CEO Angus Thirlwell to tell the story of the first decade of their cocoa renaissance and to set out plans for the second decade. Mr Thirlwell explained the gradual build-up of support for the unique taste of their Saint Lucia chocolate grades, helped by winning ...

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Sandals suspends construction work on fourth hotel in St. Lucia

(CMC) – The Jamaica-based Sandals Resorts International (SRI) says it has suspended work on its fourth hotel in St. Lucia after having already invested in excess of six million US dollars in design and site preparation. In a brief statement, the hotel chain said that it had decided to take the action pending the outcome of outstanding legal matters filed ...

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LUCELEC unfair to the people, CSA boss says

(SNO) — General Secretary of the CSA, Claude Paul, believes that light and power company St. Lucia Electricity Services Limited (LUCELEC) is unfair to the people in a long-running contention between the union and the company. The two organizations have been at odds over a matter relating to retirement age at the company, and the power company has challenged a ...

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Saint Lucian furniture manufacturers to visit Dominica

(SNO) — Four Saint Lucian manufacturers and one mattress manufacturer will visit Dominica as the island continues to stabilize in the wake of Hurricane Maria last year. The trip by the manufacturers was organised by Saint Lucia Trade Export Promotion Agency (TEPA) in its mandate to to increase exports of goods and services to external markets with a specific focus ...

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Caribbean Airlines announces profit

PORT OF SPAIN – Caribbean Airlines reported a summary of its unaudited financial results, for the nine months ended September 30, which show the airline has moved into an operating profit and is net income positive for the year-to-date. The unaudited accounts for the nine months to September 30, show Earnings Before Interest and Taxes (EBIT) of positive TT$96 million ...

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Small businesses in Saint Lucia gain access to free business continuity tools and consulting services

(PRESS RELEASE) — There are over 7,000 small businesses in Saint Lucia, and many of them shutdown every year due to fires, flood, and other causes. According to professional studies, most of these never re-open their doors. So what can small business do to protect itself from such disasters? The Institute for Business Continuity Training (www.IBCT.com) has just launched an online ...

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PM Gonsalves addresses NWU Congress of Delegates

(PRESS RELEASE) – The National Workers Union (NWU) will be holding its 2018 Annual Congress of Delegates on Sunday November 4, 2018 at the Conference Room of the Royal St. Lucia Resort and Spa and Reduit Beach, Gros Islet. Over one hundred and ten (110) delegates from the union’s eighty six (86) branches throughout the island will attend the day’s ...

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Impact Justice continues to increase regional pool of restorative practices training

(PRESS RELEASE) – The Canadian Government funded Improved Access to Justice in the Caribbean (IMPACT Justice) Project, recently trained 30 educators including Mr. Darryl Lloyd, Chief Education Officer, Principals, Deputy Principals, Education Officers and Guidance Counsellors in Restorative Practices at a 2-day workshop held at the St. Kitts Marriott Resort from October 29th to 30th, 2018. This workshop was the ...

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All interested St. Lucians and others are invited to RSVP for the Startup Huddle St. Lucia events during (GEW)

(PRESS RELEASE) – SLUDTERA would like to announce that all interested St. Lucians and others are invited to RSVP for the Startup Huddle St. Lucia events during (GEW). Interested persons are asked to RSVP right away as space/seats are limited. Only individuals who complete the RSVP form and confirm their attendance will be permitted to enter the launch venue. And ...

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Saint Lucia commemorates inaugural JetBlue Mint Service

(PRESS RELEASE) – Prime Minister, Honourable Allen Chastanet and acting Chief Executive Officer of the Saint Lucia Tourism Authority, Mrs. Tiffany Howard are among officials set to welcome the inaugural JetBlue Mint service on Saturday November 3, 2018. The flight originating out of Boston Logan International Airport (BOS) is expected to land at the Hewanorra International Airport (UVF) at 12:39 ...

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CIBC FirstCaribbean has a new CEO on board from today

(PRESS RELEASE) – CIBC FirstCaribbean has a new CEO from today. Colette Delaney, the first female to occupy the CEO’s chair at the bank, spent her first day on the job visiting two important groups of the bank’s stakeholders – clients and employees. Ms. Delaney visited two of the bank’s branches in Barbados, where she is based – Broad Street ...

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