Venezuela President Nicolas Maduro is hell bent in not allowing U.S. aid into the country. The embattled president closed Venezuela’s border with Brazil on Thursday until further notice amid a tense standoff with U.S.-backed opposition leader Juan Guaido. Here at home, the operations of the office of Alba Petrocaribe Belize Energy Limited, APBEL, will be […]
The annual Prime Minister’s Business Forum was held today at the Belize City Civic Centre. The Prime Minister’s presentation lasted about twenty-five minutes and while his statements about a sitting judge and the bench eclipsed the forum, government plans to upgrade its services through E-governance. The yearly event was organized by the Economic Development Council. […]
Gillnets provide many benefits for fishermen, making them an appealing fishing gear. On the other hand, there are also drawbacks to their use. Gillnets pose a threat to the environment and economy. The sport fishing industry of Belize is estimated to contribute over one hundred and ten million Belize dollars to the economy. The placement […]
The I.C.J. Referendum is less than two months away – and the Referendum Unit is ramping up the public awareness campaign. Today, when we spoke with Financial Secretary Joseph Waight – he told us that almost two million dollars has been used up of the two point five million dollar budget. He says that a […]
As many as five individual lawsuits are presently before the Supreme Court where various tour operators are taking legal action against the Government of Belize via the Department of General Sales Tax. Jaguar Ventures, Hugh Parkey’s Belize Dive Connection, Chukka Belize and Daylight & Dark Night Cave Adventures have all filed suit, following a recent […]
It is believed that the cumulative sum that the claimants are seeking is in the seven-figure range, slightly below ten million dollars. While Financial Secretary Joseph Waight did not elaborate on the matter which is presently before Justice Courtney Abel, he does anticipate that the ruling of the high court will affirm government’s recent action […]
The Belize Bank has been trying to collect a ninety-plus million dollar UHS debt from the government – and the two trial dates set for December and January were both adjourned. As we reported at the end of January, the Supreme Court heard arguments on matters related to the U.H.S. debt legal battle. The Belize […]
Financial Secretary Joseph Waight says that he doesn’t expect the upcoming national budget to hold any surprises. Simply put – it may very well look like 2018’s budget. Waight says that all parties are working hard to make sure that the budget is completed on time. The 2018 budget drew harsh criticism from some quarters […]
The Belize International Financial Sector Association, BIFSA, held a one-day training for stakeholders in that area of corporate business. The session which was held at the Biltmore Plaza focused on Common Reporting Standards and Anti Money Laundering. Ava Lovell-Belisle, Treasurer, BIFSA “This particular training is on the CRS and AML which is the Common […]
International Tax attorney Jose Romero, who has established a firm in Panama, was the presenter at today’s workshop. He discussed the challenges to the financial sector with regards to offshore banking. Jose Romero, International Tax Attorney “It’s a challenge that every single jurisdiction that has faced the advent of this new regulations has had […]
Today, a cheque of sixty thousand dollars was handed over to the government of Belize from the Republic of China (Taiwan) to facilitate one of two exchange investment missions between both countries to be launched in 2019 by the Ministry of Investment Trade and Commerce. The objectives are to increase foreign direct investment in priority […]
Today marks exactly three months since Ambassador Remus Li-Kuo Chen officially took up mission in Belize. He says that the initiative is linking potential Taiwanese investors with Belizean businesses. And it is the hope that by the end of the second mission later this year, solid business relationships would have been formed between investment opportunities […]
Back to back and in recent times, shocking Ponzi schemes and investment scandals were exposed in multimillion dollar projects in Belize. From a cursory view, the projects seemed legit, but would later turn out to be strategy used by scammers to rob investors of millions of dollars. So we asked Minister Panton what mechanisms have […]
At midnight tonight, the prices of diesel and kerosene will take a significant hike. Consumers will be hit with a sixty-six cents increase per gallon in the price of diesel which will be selling at nine dollars and ninety-seven cents, hovering under the ten-dollar mark. Kerosene will increase by sixty-three cents and will now be […]
The Statistical Institute of Belize issued its Price Consumer Index and External Trade bulletins. The reports outline the cost of goods and services, as well as imports and exports in December of last year, tracking the changes from year to year. According to the S.I.B., the consumer price index shows that goods and services were […]
On January sixteen we reported on the fifty-two cents decrease per gallon of premium fuel. But tonight, the reprieve for consumers has been short-lived since the price of premium fuel is about to go up and will take the price again above the ten dollars mark. The price increase is twenty-four cents, from nine dollars […]
At midnight, there will be some relief at the pumps. The price of premium gasoline will decrease by fifty-two cents effective Wednesday at midnight. Right now the price stands at ten dollars and forty-seven cents and with that decrease the new price will be nine dollars and ninety-five cents per gallon. There will also be […]
The period for objections to be submitted to the Public Utilities Commission, in respect of an increase in electricity rates which came into effect on January first, expires on Saturday. When the hike was announced, government opposed the increase which was more than what B.E.L. requested. G.O.B. issued a release last Friday asking the P.U.C. […]
While consumers are beginning to feel the pinch post the Christmas shopping spree, another rate increase is expected in June when B.E.L. will attempt to recover an additional eleven million dollars that it would have spent on purchasing power from Mexico. It would mean three increases in one year. Director Tillett explains. Ambrose Tillett, […]
Prime Minister Barrow’s annual New Year’s message, set against a jazz rendition of Auld Lang Syne, covers several issues, including the economy, as well as crime and violence. In the prepared statement, PM Barrow lauds the country’s fiscal performance, attributing the growth of the economy to the service sector, namely the tourism industry as it […]
On Christmas Day, gas prices at the pumps dropped for a second time in forty-eight hours. The cost of premium gasoline reduced by eighty-five cents to ten dollars and forty-seven cents per gallon, while the price of diesel which went down by ninety-two cents to nine dollars and eighty-three cents per gallon. According to a […]
There is good news for motorists tonight. The price per gallon of regular fuel is expected to decrease at midnight tonight. The price will go down by thirty-five cents, from nine dollars and seventy-six cents to nine dollars and thirty-one cents. Kerosene will also see a reduction, falling by eighty-one cents per one hundred pound […]
The cost of living dipped marginally in November, as consumers prices went down by point zero two percent. That’s according to the Statistical Institute of Belize which has released the Consumer Price Index for last month. The average Belizean household saw a slight decrease in the cost of regularly purchased goods and services. While the […]
The Senate also passed the Income and Business Tax Amendment Bill which seeks not only to create a tax regime for companies engaged in certain business activities but also to set the rate of tax for these companies in addition to tax exemption. The bill was rushed through all its stages in the Senate today […]
Like the Income and Business Tax Amendment Bill, it was necessary for the International Business Companies Amendment Bill to be passed before the year ends. That bill seeks to eliminate ring-fencing by extending the regime to Belizean residents and removing the restrictions from international business companies to carry on business with Belizean residents. It also […]
