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Finance/Business

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 ...

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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 ...

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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 ...

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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, ...

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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 ...

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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 ...

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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 ...

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“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 ...

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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 ...

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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, ...

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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 ...

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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, ...

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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 ...

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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 ...

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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 ...

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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. ...

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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, ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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$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 ...

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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 ...

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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 ...

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Company to withdraw redundancy letters

PRESS RELEASE – The management of Jubilee Trading Corporation and representatives from the National Workers Union (NWU) met in another attempt to resolve the industrial impasse between the company and the NWU. The parties have agreed that effective immediately the company will withdraw its redundancy letters to employees dated April 2, 2014. The Union will then instruct all workers to ...

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CIBC FirstCaribbean introduces Talk to Me Tuesdays!

PRESS RELEASE – Tuesdays just got a whole lot better at CIBC FirstCaribbean! The regional bank has embarked on an exciting and engaging initiative – “Talk to Me Tuesdays!” – which will see its Branch Managers,  sales staff  and customer service representatives engaging with customers who visit its banking halls in a highly interactive and personaliSed manner. Talk to Me ...

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NWU takes Jubilee Trading to Dept. of Labour

PRESS RELEASE – The management of Jubilee Trading Ltd. and officials from the National Workers Union (NWU) met at the Department of Labour on Friday, April 11, 2014. The meeting, held under the chairmanship of Acting Labour Commissioner Ray Narcisse, dealt with a number of complaints lodged by the NWU, accusing the company of taking decisions that go against the ...

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Digicel customer wins big for birthday!

PRESS RELEASE – Digicel, for the month of March, surprised its winning customer Marjorie Lambert – a big reason to rejoice and celebrate with Digicel as she walked away with an IPad Air plus $1,000 cash after participating in the March ‘Text to Win’ promotion. Marjorie, a mother and grandmother from Cas En Bas, always wanted to participate in the ...

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UWP wants budget to address fiscal deficit and unemployment

As government prepares to present the 2014/2015 Budget in the House of Assembly on April 29, Opposition Leader Dr. Gale Rigobert said she hopes the administration have included strategies to tackle the high fiscal deficit and unemployment. Speaking at a press briefing on Friday at her office, Dr. Rigobert hopes to raise her party’s concern about the fiscal situation and ...

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‘Jazz it Up’ this season with Digicel

PRESS RELEASE – As proud platinum sponsors for Saint Lucia Jazz and Arts Festival, Digicel is celebrating this fantastic festival with a grand ‘Text to Win’ promotion. With the anticipation building for this year’s Jazz events, Digicel has crafted a promotion that will mirror the excitement and quality of St Lucia Jazz and arts 2014. This Jazzy promotion requires customers ...

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Courts St. Lucia renews title sponsorship of 2nd Annual RISE Film Festival

Furniture, appliance and electrical superstore Courts has pledged continued support as title sponsor of the second annual Rise St. Lucia Film Festival. The Rise Youth Film Festival was conceptualised by filmmaker Colin Weekes and by Rise (St. Lucia) Inc, a non-profit organisation founded by Dr. Stephen King and Dr. Jacqueline Bird. The festival is geared at providing an avenue for ...

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LIME supports youth football in Babonneau

PRESS RELEASE – LIME’s commitment to youth and local football was reaffirmed by its support for the recent Babonneau Inter-Community Under-15 Football Competition. The tournament was held on Sunday 6 April at the La Guerre Playing Field, hosted by the officers of Babonneau Police Station in an effort to cultivate positive values through their Community Policing Program. The tournament also ...

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LIME to Launch SAMSUNG Galaxy S5!

PRESS RELEASE – Saint Lucia and the Caribbean’s leading telecommunications firm, LIME, has confirmed that its customers will be among the first in Saint Lucia to experience the new SAMSUNG Galaxy S5. With its elegant design, unique style and superior technology, the Galaxy S5 combines a high-tech camera, fast Internet connection and specialized fitness tools along with improved security functions. ...

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CAGE and Secure St. Lucia employees choose NWU representation

PRESS RELEASE – Technical and clerical workers employed with CAGE St. Lucia Ltd. and security guards employed with Secure St. Lucia Ltd. will now be in a position to receive trade union representation. Both groups of workers recently participated in secret ballot polls held under the supervision of officials from the Department of Labour. The workers have voted overwhelmingly to ...

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PM believes common approach necessary to deal with marijuana debate

PRESS RELEASE – Prime Minister Dr. Kenny D. Anthony said he is pleased that CARICOM has decided to establish a commission to deal with the marijuana debate now engaging the Caribbean Community. In an HTS interview, Dr. Anthony disclosed that the suggestion of a commission came from Saint Lucia. He disclosed that he had made the proposal to CARICOM several ...

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Community Institutions discuss CARICOM Draft Strategic Plan

PRESS RELEASE – The Draft Strategic Plan that will drive the CARICOM Reform Process continued to be developed with discussions among the Community Institutions at the CARICOM Secretariat Headquarters in Turkeyen Guyana on Monday. The purpose of the discussions was to solicit the views of the institutions on a direction, priorities, framework for implementation, areas of collaboration and the requirements ...

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Coconut Bay Beach Resort and Spa launches Cocoland Cares programme

The Coconut Bay Beach Resort and Spa has embarked on a Cocoland Cares programme – an initiative which will see the distribution of donation packages and other support for early childhood education institutions on the island. Cocoland Cares has been described as a major national initiative which involves significant investment in the early childhood learning sector. Donation packages will include ...

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Workshop held to strengthen fisherfolk capacity in St. Lucia

PRESS RELEASE – Over 30 fisherfolk leaders from the Saint Lucia National Fisherfolk Cooperative Society Limited (SLNFCSL) and affiliate fisherfolk cooperatives, and representatives from the Fisheries and Cooperatives Divisions participated in a National Fisherfolk Workshop in Saint Lucia from April 2-3, 2014. This workshop was aimed at strengthening the capacities of the fisherfolk organisations in Saint Lucia to better participate ...

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LIME giving away free services and free fuel

PRESS RELEASE – The giveaways continue to flow non-stop at LIME as Saint Lucia and the Caribbean’s leading telecommunications service provider unveils its popular Pay Early & Win promotion, giving customers more opportunities to win fabulous prizes. Pay Early & Win gives a whopping five customers the chance to win three months of free utility payments for electricity, water, landline, ...

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REPORT: St. Lucia to levy heavy duty on Bajan products, government not pleased

News that businesses in Barbados exporting to St. Lucia are now faced with a new levy on products shipped to Castries has not gone down well with the Barbados government. The country’s Industry Minister Donville Inniss, according to a Caribbean Broadcasting Corp. (CBC) report, revealed that “St. Lucia has imposed a 70 percent duty on some Barbadian products entering that ...

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St. Lucia to get daily flights from British Airways this summer

Saint Lucia will receive daily flights from British Airways from the Gatwick International Airport in London this summer. This is according to an article on Crawly News website which revealed some of the airline’s fares under its new summer route. British Airways, according to the article, kicked off its summer schedule on March 30, 2014 with increased routes and additional ...

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PM lauds Axcel Finance as a pioneer in microfinance

PRESS RELEASE  – The role of small businesses in creating employment, empowering less well-endowed segments of the population and stimulating economic growth is one which the Government of St. Lucia supports and encourages. That disclosure was made by Prime Minister Dr. Kenny D. Anthony as he delivered the keynote address at the official opening of the Vieux Fort branch of ...

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Big 4 can now be played twice per day!

PRESS RELEASE – The St. Lucia National Lottery has introduced an additional draw for Big 4.  Players can now play twice a day with a draw at 1:30 p.m. and 9 p.m. Big 4 was launched on February 1, 2013 with two bet types: ‘Straight’ and ‘Mix’. In September 2013 another bet type ‘Backup’ was introduced. This bet type allowed ...

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No new taxes coming, VAT is stabilising – PM

No new taxes will be imposed when the government presents the 2014/2015 national budget, but there will be some adjustments to the existing duties. That’s according to Prime Minister Dr. Kenny Anthony who said these variations will be made with a view to moving the country out of the “distressing period that we’ve all experienced”. Speaking on HTS Newsforce, Dr. ...

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Funding announced for viable Climate Change concepts

Saint Lucians are being encouraged to participate in the Caribbean Climate Innovation Centre’s, CIC, Proof of Concept (PoC) with possible awards of up to US $50,000 in grant funding. The Caribbean CIC is one of eight CICs being established globally. The objective of CCIC is to establish regional institutional capacity that will support Caribbean entrepreneurs, and new ventures involved in ...

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Small enterprises considered key to a sustainable Caribbean economy

On March 26 – 27 2014, the Commonwealth Secretariat co-hosted, in collaboration with the Government of Saint Lucia, the third Global Biennial Conference on Small States. This year’s conference theme was “Building resilience in Small States,” with government officials in attendance from 31 Caribbean, African, Pacific and the Indian Ocean small states. Representatives from academic institutions, regional and international organisations ...

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10 percent VAT now charged on certain tourism services

Starting this week, certain tourism service providers were asked to pay Value Added Tax (VAT) on some services, which were initially exempt from that tax. According to a VAT (Rate of Tax) amendment order issued by the prime minister in March, a 10 percent VAT rate has been imposed on some of these previously exempt services. The services under this ...

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Youth development ministry endorses First Citizens Seminar

Whether you’re a young person who recently graduated, just starting your career or finally moving out on your own, it can be hard to keep track of your personal finances. First Citizens Investment Services is aiming to change that and help young people manage their money, and prepare for the future with a free informative seminar on Tuesday, April 22 ...

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Caribbean Export and Saint Lucia TEPA hosts market intelligence workshop

Caribbean Export Development Agency (CEDA) in collaboration with the Trade Export Promotion Agency (TEPA) will be hosting a training workshop on Market Intelligence scheduled for Friday, April 4, from 9 a.m. – 4 p.m. at the Palm Haven Hotel. The exercise is geared towards assisting private sector firms that are exporting or are export-ready to develop markets briefs for specific ...

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Challenges surround drafting of Consumer Protection Bill

Whilst progress is being made with the finalisation of the Consumer Protection Bill, which has been in the making for over a decade now, challenges have prevented it from being completed and passed in the House of Assembly. That is according to Minister for Legal Affairs Victor Phillip La Corbiniere, who said in an interview with Saint Lucia News Online ...

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A decade of excellence in international banking

Bank of Saint Lucia International Limited (BOSLIL) is celebrating 10 years of growth and service excellence in international banking. BOSLIL, the international banking subsidiary of the ECFH Group, provides globally competitive products and services to international clientele. BOSLIL offers its clients a very conservative banking model designed to meet their international commercial needs while paying significant attention to a high ...

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LIAT Cargo acquires new refrigeration system

LIAT’s cargo hub in Antigua now provides maximum protection for temperature-sensitive cargo, thanks to its acquisition of a state-of-the art container refrigeration system. This expansion in service brings Antigua in line with its hubs at Trinidad, Barbados and stations in St. Maarten, Santo Domingo and Puerto Rico. Virgin Atlantic Cargo and Amerijet are two of LIAT’s interline partners who have ...

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NOTICE: Registry of Companies and Intellectual Property closed

The general public is hereby notified that the Registry of Companies & Intellectual Property will be closed between the hours of 9 a.m. and 11 a.m. on Thursday, April 3, 2014 to facilitate the attendance of staff at a Training Session. The registry apologises for any inconvenience caused as a result of the closure. Please be guided accordingly. (0)(0)

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An estimated 100 investors to attend investment forum

Close to 100 investors; project owners and sponsors; developers; lenders; investment consultants and chief executives, are expected on Saint Lucia from May 4-6 for the inaugural Saint Lucia Investment Forum (SLIF2014). The agenda will feature targeted sessions, networking opportunities, keynote speakers who will focus on relevant topics including investment trends, financing models and real investment opportunities, in smart manufacturing, niche ...

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