Add St. Lucia News Online on Whatsapp +1758 712 6700; get major headlines and source us with news tips, photos, and videos

Finance/Business

Reports of fake $100 bills in circulation among Caribbean islands

The public should be on its guard for the circulation of counterfeit EC$100 notes within the Eastern Caribbean region. The warning was issued by Government Press Secretary Jadia Jn. Pierre-Emmanuel on Facebook through a customer alert. A fake money bill is that which is photocopied or printed poorly. They will appear smaller than regular bills and lack the unique security ...

Read More »

No shouting match between Barbados and St Lucia, says Barbados minister

Do not expect any shouting matches between Barbados and Saint Lucia over the recent imposition of tax on some Barbadian goods by that country. This was made clear by Minister of Industry, International Business, Commerce and small Business Development Donville Inniss, who said that although it was not an agenda item per se at the Council for Trade and Economic ...

Read More »

King proposes new housing initiatives to government

Castries North Member of Parliament Stephenson King has proposed two new housing initiatives to government aimed at assisting the poor population in realising their dream of owning their own homes. King during his presentation to the 2014/15 budget debates on Friday said that for too long the poor population has been left out in the development agenda of the island. ...

Read More »

CIBC FirstCaribbean toasts staff on Employee Appreciation Day

PRESS RELEASE – CIBC FirstCaribbean management across the bank’s 17 territories on Thursday, May 15 celebrated the bank’s over 3,000 employees as part of the annual Employee Appreciation Day activities. The leadership of the regional bank joined with their colleagues from the CIBC group worldwide in saying a rousing “thank you”, to the company’s corps of dedicated and loyal staffers ...

Read More »

Warning: Internships Actually Work

Time to think ahead! This is the time of the year to begin your career planning, ahead of the upcoming summer vacation.  Students in secondary school, college, and university should spent time reflecting on their interests and goals. Those seeking to join the workforce should take their first steps forward. The stubbornly high unemployment rates are a strong indicator of ...

Read More »

SNO Birthday Greetings (free)

St. Lucia News Online is encouraging everyone to submit birthday greetings to [email protected] or via our Facebook page inbox. Whether you’re celebrating your birthday or that of a relative, friend or lover, all greetings are welcome. Greetings should be accompanied by at least one photo. The message will be published only on our Facebook page. What better way to reach ...

Read More »

BOSL helps build happy homes

PRESS RELEASE – Bank of St. Lucia is making it easier to own a piece of ‘Fair Helen’ by offering favourable rates on home construction, the purchase of house and land, or the consolidation of debts related to home ownership. BOSL recently launched its Happy Homes campaign, offering mortgage loans at a competitive interest rate of only 6.99 percent. Customers ...

Read More »

LUCELEC explore new business opportunities, given approval to establish subsidiary company

PRESS RELEASE – St. Lucia Electricity Services Limited (LUCELEC) has been granted approval by its shareholders to establish a subsidiary company. The decision came at the end of a Special Meeting of Shareholders held on Friday, May 9, 2014. The subsidiary company will allow LUCELEC to explore new business opportunities separate from what it is currently engaged in which is ...

Read More »

King recommends different approach to introduction of taxes

Former Prime Minister and Member of Parliament for Castries North Stephenson King has proposed that there be consultation over the introduction of taxes in order to measure the impact it will have on the disadvantaged. He has expressed disappointment on the prime minister’s announcement of increased taxes on certain goods for the new financial year.  “For the past three years we ...

Read More »

NWU conclude negotiations with Demerara Mutual Life Assurance Co.

PRESS RELEASE – The National Workers Union (NWU) and the management of Demerara Mutual Life Assurance Company held their final meeting earlier this week and concluded industrial negotiations. Technical and clerical workers employed with the company will benefit from a seven percent  general wage increase spread over a three-year period. Workers will receive three percent  in year one with an ...

Read More »

LUCELEC hosts successful annual shareholders meeting

PRESS RELEASE – Shareholders of the St. Lucia Electricity Services Limited (LUCELEC) will receive a dividend payment of seventy cents (EC$0.70) for every share of LUCELEC stock they own.  The amount represents the disbursement from the electricity company for the financial year that ended on December 31, 2013. That was one of the major outcomes of LUCELEC’s 49th annual Meeting of ...

Read More »

VAT applied to some items consumed by ‘higher income earners’

Some grocery items which consumers bought tax-free in the past will soon see a 15 percent Value Added Tax (VAT) applied to them. During the presentation of the Budget Estimates, Prime Minister Anthony indicated that following post policy assessments and consultations with stakeholders, government was able to make further amendments to a list of items. This includes fish, butter, margarine ...

Read More »

2,100 individuals to be tax-exempt, thousands to pay less income tax

PRESS RELEASE – Effective January 1, 2015, 2,100 individuals will be exempt from income tax and approximately 9,443 will pay less income tax. These changes are the results of major adjustments to the income tax regime, announced in the 2014/2015 Budget Statement by Prime Minister Dr. Kenny D. Anthony. Firstly, in keeping with a promise made in the Saint Lucia ...

Read More »

Tax relief for business sector

PRESS RELEASE – The Government of Saint Lucia will deliver on a campaign promise to reduce corporate tax. This move will allow corporations to have additional funds for further investment and will hopefully lead to increased compliance. It is envisaged that such a move will make Saint Lucia more attractive as a place to do business and thus will result ...

Read More »

Prime minister presents budget speech later

PRESS RELEASE – The 2014/2015 Budget Statement will be presented by Prime Minister Dr. Kenny D. Anthony today, Tuesday, May 13, 2014 at 5 p.m. This policy statement follows the Debate on the Estimates of Revenue and Expenditure which took place on April 29 and 30, 2014. This year’s budget statement will focus on reducing the deficit and promoting investment. ...

Read More »

PM tone downs fear over impact on investment in real estate

Prime Minister Dr. Kenny Anthony has responded to concerns that housing could become more expensive for locals after information that several realtors indicated interest in investing in Saint Lucia at the recently held Saint Lucia Investment Forum (SLIF). The prime minister said while he does have such information, that is not the case because government has the responsibility to make ...

Read More »

$75M needed to improve country’s financial standing

The prime minister has announced that his administration will address the country’s fiscal deficit by reducing spending, with or without the consensus of stakeholders. Prime Minister Dr. Kenny Anthony told media operatives on last Friday (May 9) at a discussion on the current economic situation that every measure possible will be used to come to an agreement with stakeholders on ...

Read More »

CIBC FirtCaribbean invites customers to Talk to Me Tuesdays!

PRESS RELEASE – Tuesday, May 6 saw the commencement of CIBC FirstCaribbean’s highly interactive customer outreach programme – Talk to Me Tuesdays!  The initiative is being rolled out in all countries in the Caribbean where CIBC FirstCaribbean operates. Talk to Me Tuesdays! will see greater interaction between branch managers, their customer service representatives and sales team with customers who come ...

Read More »

Statistics on economic performance indicate deficit will rise without wage adjustment

Government is exploring other measures to curb public debt since an increase by 1.5 percent over the past two years. During a press briefing today, May 9, Permanent Secretary in the Ministry of Finance Reginald Darius, in a PowerPoint presentation, demonstrated what the current state of the economy looked like as it relates to government spending and fiscal deficit. Friday’s ...

Read More »

NWU strongly objects to 5% wage cut

PRESS RELEASE – The National Workers Union (NWU) strongly objects to the inclusion of non-establishment, town and village councils, daily and hourly paid workers employed with government in any proposed five percent wage cut on their present salaries. While the NWU feels that the exercise of engaging government administrators on Saint Lucia’s deficit and the economy is healthy, government must ...

Read More »

Power of caring brought to the St. Benedict Centre

PRESS RELEASE – Five employees from the St Lucia Electricity Services Limited (LUCELEC) Generation Department recently performed an act of charity at the St Benedict Centre. The action by Graham King, Javon Desmond, Verlan Charles, Nathanial Deterville and Terry Pologne brought a needed face lift to the Centre which is located on the Morne. The clean-up and beautification exercise was ...

Read More »

BOSL in harmony with St. Lucia Jazz & Arts Festival

PRESS RELEASE – For the 18th consecutive year, the ECFH Group is giving sound support to the St. Lucia Jazz & Arts Festival through the sponsorship of Main Stage Jazz, Soufriere Creole Jazz and Jazz in the South. This unbroken partnership reflects the Group’s continued commitment to the socio-economic development of St. Lucia through the arts. ECFH is also a ...

Read More »

“UNJUSTIFIED MOVE” – CSA head speaks on possible salary cut

The Civil Service Association (CSA) was the only trade union movement on the island that was not present for a recent meeting with government officials, called to discuss the fiscal situation on the island, but CSA President Mary Isaac said the move to boycott that meeting was made based on a fact that government has already decided on a five ...

Read More »

Organisers laud “impressive start” of Investment Forum

The widely anticipated Saint Lucia Investment Forum got off to an impressive start Sunday, May 4 with keynote speaker Egbert Perry delivering a most inspirational albeit realistic and upbeat address. Antiguan by birth, Perry is no stranger to the Caribbean region and is integrally involved in some major projects here on Saint Lucia, which he calls his second home. Perry, ...

Read More »

Costing and pricing workshops offered to SMEs

PRESS RELEASE – The St. Lucia Chamber of Commerce Industry and Agriculture in conjunction with the St. Lucia Youth Business Trust is once again offering to micro, small and medium-sized enterprises on the island the “Mind Your Business” Development Series in “Costing and Pricing.” The Mind Your Business Development Series seeks to provide critical business management skills and knowledge. The ...

Read More »

Trade unions explore ways government can prevent possible salary cuts

Amid speculation that government could move to retrench a large number of public servants or cut salaries across the board by five percent, Trade Unionist and President of the Saint Lucia Teachers’ Union (SLTU) Julian Monrose said that retrenchment is no longer an option for government, but a possible salary cut of five percent is still possible. However, Monrose told ...

Read More »

Sandals LaSource Grenada receives Six Stars

Sandals LaSource, the most contemporary and luxurious resort within the Sandals portfolio, has copped the coveted Six Star award, making it one of the most elite resorts in the world. The title was bestowed upon the Grenada property at an opening ceremony fit for royalty. Chief Executive Officer of Sandals Resorts International Adam Stewart said the resort, the newest in ...

Read More »

Axcel marks two years in St. Lucia with major expansion

PRESS RELEASE – Axcel Finance continues to stamp its dominance as the leading microfinance provider in Saint Lucia and the Eastern Caribbean. Axcel Finance CEO, Sam Rosenberg, disclosed that the company’s principals have approved a major expansion plan in Saint Lucia to further extend credit to SME’s as well as introduce additional innovative services. Axcel Finance is a market-based finance ...

Read More »

Increased taxation on Barbadian goods in effect as St. Lucia remains firm

The imposition of a 70-per cent taxation on Barbadian goods entering these shores took effective yesterday, May, 1, 2014, and despite the uproar from Barbados, the St. Lucian government remains firm in its decision. In a brief interview with St. Lucia News Online today, Permanent Secretary in the Commerce Ministry Titus Preville noted that the Caribbean Community (CARICOM) will guide ...

Read More »

Mary Isaac’s remarks are “regrettable and unjustified” – government

The government has responded to comments made by recently re-elected President of the Civil Service Association (CSA) Mary Isaac who has criticised the government’s handling of the planned salary cuts  and reduction in the budget expenditure ahead of today’s meeting with government and public sector unions. Below is the entire statement:  The Government of Saint Lucia congratulates Ms. Mary Issac ...

Read More »

Prime minister’s budget estimates summary

FISCAL OVERVIEW: The 2014-2015 has been developed within the context of continuing challenges faced in raising financing necessary to undertake the work programme of the government during the last fiscal year. The challenges faced during the preceding year have made us more cognizant of the need to consolidate government’s fiscal position and strengthen public finances.  It is for this reason ...

Read More »

Lower taxes will increase travel revenue, says LIAT chief

PRESS RELEASE – The newly appointed CEO of LIAT believes a reduction in taxation on intra-regional travel will help increase revenues for the governments of the Caribbean and give customers a fairer deal. David Evans, who assumed leadership duties on April 22, 2014, acknowledged taxes are important to reinvest in aviation infrastructure, but he would like to see governments fully ...

Read More »

Participation for Investment Forum expected to be overwhelming

 PRESS RELEASE – The Saint Lucia Investment Forum has received overwhelming response and an influx of registrations in the last few days leading up to the April 24 deadline of its Investment Forum. Registration has surpassed the targeted number of overseas participants and has attracted a wide cross section of potential investors, financiers (debt and capital), brand representatives and operators, ...

Read More »

Government considers debt ceiling legislation

Government has announced plans to introduce legislation to facilitate a debt ceiling for Saint Lucia. Prime Minister Dr. Kenny Anthony, during his presentation of the Budget Estimates to the House of Assembly on Tuesday, revealed that this move is part of a wider plan to reduce spending and the current fiscal deficit that the country is faced with. The prime ...

Read More »

Gov’t proposes EC$1.2 billion budget for 2014/15

The Kenny Anthony administration today, April, 29, presented this year’s financial budget in the House of Assembly, which stands at EC$1,252,021,600. In presenting the expenditure and estimates, Prime Minister Anthony said that this year’s budget is aimed largely on reducing the current financial deficit. Anthony highlighted the success made over the previous financial year, which saw a reduction of the ...

Read More »

All set for budget debates later today

Members of Parliament (MPs) and government officials including Prime Minister Dr Kenny D. Anthony turned up one after the other, to take part in this morning’s meeting at 10 a.m., ahead of the debate on the estimates which commences at 2  p.m. this afternoon and continue into the next day, April 30, 2014 at 10 a.m. The parliamentarians said that ...

Read More »

“If something needs fixing, then it is us who must also fix it” – PM Anthony

Prime Minister Dr. Kenny Anthony has invited the citizenry of the country to bring their concerns to the newly-launched National Vision Commission. Speaking at the launch of the commission Monday evening, Dr. Anthony recognised there will be skepticism among the populace about the mission of the commission, adding that “We must have realistic expectations about this challenge we are taking ...

Read More »

Budget estimates to be revealed today

The Estimates of Revenue and Expenditure for the financial year 2014/2015 will be laid in the House of Assembly on today, April 29, 2014. Debate on the Estimates will be preceded by a meeting of the Standing Finance Committee of the House at 10 a.m. The debate on the estimates will commence at 2:00 this afternoon and continue into the ...

Read More »

Official launch of Gems of Saint Lucia

PRESS RELEASE – Gems of Saint Lucia officially launched the Canadian arm of Gems in Canada’s capital city, Ottawa, on April 24, 2014. The concept was embraced by key stakeholders within the Canadian community, the international community and the Saint Lucian community in Ottawa. The key speakers at the event were Kevin Carrol – Managing Director of Innovation at Invest Ottawa, ...

Read More »

Concerns over impending increase in mini-bus fares

The Consumer Affairs Association has raised concerns over the impending increase in mini-bus fares saying that it could affect the poor population on the island. The association’s President Kingsley St. Hill told St Lucia News Online (SNO) in a recent interview that while mini-bus drivers have made calls to have an increase, he believes that it must be a justifiable ...

Read More »

Prime minister broadens pre-budget consultations

Prime Minister Dr. Kenny D. Anthony and members of the Cabinet of ministers will meet with more representatives of civil society, to brief them on the performance of the economy over the past year and to discuss proposals aimed at stabilising the fiscal position of the country. To date, the prime minister has written to the Saint Lucia Christian Council, ...

Read More »

COMMENTARY: How to improve productivity

The National Competitiveness and Productivity Council (NCPC) of Saint Lucia is presently undertaking a national productivity study in Saint Lucia. The end result will be a detailed analysis which will provide reasons for the current levels of productivity and key policy actions that will enhance productivity within the overall economy. Consultations are presently being carried out within different sectors of ...

Read More »

PM wants collaboration in tackling non-performing bank loans

Prime Minister Dr. Kenny Anthony has said he is concerned about EC$150 million in non-performing bank loans, vowing that the problem has to be resolved. Anthony, who is also finance minister, said if this is going to be achieved then the gap between the financial sector and the government that makes the decision must be addressed. ‘The time has really ...

Read More »

Teachers Cooperative Credit Union staff vote for trade union representation

PRESS RELEASE – Clerical and technical workers employed with the St. Lucia Teachers Cooperative Credit Union will now be in a position to receive trade union representation. The workers just concluded participation in a secret ballot poll which was administered by officials from the Department of Labour. Workers voted overwhelmingly in favour of their interest protected by the National Workers ...

Read More »

UPDATE: Taiwan gives more assistance towards restoration of St. Jude Hospital

Government has received the last disbursement of funds from the Taiwanese Government, to assist with the completion of the St. Jude Hospital reconstruction project. A total of EC$2.761,847.03 was presented to Prime Minister Dr Kenny D. Anthony, by Taiwanese Ambassador to Saint Lucia James Chang during a handing over ceremony today, April, 25, at the Office of the Prime Minister. ...

Read More »

Investment minister says Investment Forum will showcase “the best of Saint Lucia”

Minister for Commerce, Business Development, Investment and Consumer Affairs Emma Hippolyte has envisioned that the best of the island will be presented at the first-ever Investment Forum next month. Invest Saint Lucia officially launched the inaugural event on Wednesday, April 23, 2014 at the studios of the Government Information of Service. The forum scheduled for Sunday, May 4 to Tuesday, ...

Read More »

Tensions re-surface over rumour of possible public sector job cuts

Speculation that salary cuts may be impending for public servants continue to swirl, as government prepares to meet with leaders of their trade unions on May 2, ahead of the 2014/2015 national budget address. A government press release on Tuesday April 22, noted that next week’s talks would be centered on government’s “proposals to reduce expenditure in the operations of ...

Read More »

St. Lucia Distillers and NWU complete negotiations

The management of St. Lucia Distillers Ltd. and officials from the National Workers Union (NWU) have satisfactorily completed another round of industrial negotiations. The new industrial package will run for a period of three years and provide for an upward adjustment in salaries and restructuring of the current regime of fringe benefits. The company and the NWU have agreed to ...

Read More »

COTED to hear Barbados, St. Lucia trade dispute

BRIDGETOWN, Barbados: International Business Minister Donville Inniss says Barbados will use the May 6-10 Council of Trade and Economic Development (COTED) to resolve a possible trade dispute with St. Lucia. St. Lucia has announced the imposition of a 70 per cent tax on Barbadian goods effective May 1. Castries, has, in the past, pointed to a 2012 COTED decision which ...

Read More »

NWU proud of companies despite “unhealthy economic environment”

PRESS RELEASE – The National Workers Union (NWU) wants to place on national record its admiration and industrial respect for the 27 companies with which the union has had to conduct industrial negotiations over the past three years. Many Saint Lucians and indeed the National Workers Union fully understand the unhealthy economic environment to which companies have been forced to ...

Read More »

Toronto station organises radiothon to aid St. Lucia, other countries in disaster relief

St. Lucia stands to benefit along with Dominica and St. Vincent from funds to be raised from a radiothon for the countries’ ongoing Christmas trough recovery. The May 4 radiothon themed “Rebuilding Lives,” will be hosted by Toronto’s most popular urban radio station, G987 “The Way we Groove.” The radiothon will take place from 6 a.m. to 10 a.m. during ...

Read More »

New approach in 2014 calypso season

PRESS RELEASE – The new executive of the Saint Lucia Calypso Association (2009) and the tent leaders are determined to make the 2014 calypso season a much improved experience for all stakeholders especially calypsonians, sponsors, judges and patrons. Several meetings and discussion forums have already been hosted with the main focus being improving the quality and delivery of calypso through best ...

Read More »

New LIAT CEO takes office

PRESS RELEASE – The newly appointed CEO of LIAT – The Caribbean Airline – arrived from the United Kingdom on Sunday with a promise to listen to staff to determine how to improve the regional carrier. “The years I have spent in the airline business have taught me that there is no monopoly of wisdom in the CEO’s office,” said ...

Read More »

Industrial impasse at Tolyn Manufacturers

PRESS RELEASE – Conciliatory discussions between the management of Tolyn Manufacturers Ltd. and the National Workers Union (NWU) began today, April 17 at the Department of Labour. The session, which was chaired by Acting Assistant Labour Commissioner Andrew Quashie, was an attempt at assisting the company and the NWU settle their industrial impasse. The meeting was quite productive with both ...

Read More »

$16,800 paid out in Big 4 draw last evening

PRESS RELEASE – Big 4 is delivering as promised: many winners, many betting options, more draws, and not forgetting,many convenient locations from which to play. Last weekend, Big 4 gave some easy scores to some lucky players. Backup, Inline and Pairs bets dominated the winnings on Friday and Saturday. Remember Big 4 is as easy as Lucky 3, just one ...

Read More »

Courts fully furnishes newly constructed home for family of eight in Soufriere

PRESS RELEASE – Saint Lucia and the Caribbean’s leading electrical, furniture and appliance superstore, Courts, embarked on yet another philanthropic initiative on Thursday, April 10, geared at improving the current living conditions of Soufriere resident Mariana Butcher and her family of eight. Earlier this year, a request was sent in to Courts on behalf of the Butcher family by a ...

Read More »

Deadline approaches for Saint Lucia Investment Forum

PRESS RELEASE – With less than two weeks to go for the hosting of the inaugural Saint Lucia Investment Forum (SLIF), slated for May 4-6 at the Sandals Grande St. Lucian Spa and Beach Resort, interested persons are encouraged to register before the April 24 deadline as places for this signature event are limited. This exclusive event will bring together ...

Read More »