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While day-one is focusing on creating a network between counterpart agencies in both countries, day-two will see Laiton travel south to Punta Gorda. Toledo is the poorest district in Belize and Small Business Development Center’s Business Advisor, Jorge Gentle, says that Thursday’s workshop with the PG Town Council and entrepreneurs is an initiative to foster […]
Late this evening, the Central Bank of Belize issued a statement with updates to the predicament that Choice Bank finds itself in. According to the Central Bank of Belize, liquidator Cedric Flowers and his team have been tasked in fundamentally marshalling of the bank’s assets and customers’ claims in order to develop a schedule of […]
Written on July 17, 2018 | Posted in
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The price of premium gasoline decreased by eleven cents at midnight on Tuesday; it now sells for eleven dollars and sixty cents per gallon. It is a small reduction for consumers who have been complaining about the high cost of fuel. The Government has explained that the fuel prices in Belize are as a result […]
In June, the government said that if it reduces fuel tax by two dollars per gallon, it would mean a seventy million dollars hole in government revenue. That reduction would ‘completely de-fund’ the Judiciary and Government Ministries such as Human Development, Agriculture, Transport and NEMO, and Works. It added that essential services provided by these […]
The price for regular fuel decreased at midnight, but some motorists are not too happy with the reduction of thirteen cents. Regular gas still sells above the ten dollars mark, with the new price being ten dollars and eighty-nine cents. The government maintains it won’t reduce fuel tax, arguing that to do so would result […]
Written on July 10, 2018 | Posted in
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The Belize City Council says it can afford to slash taxi operators’ fee by half because the traffic department’s revenue has gone up by thirty-percent. According to Councilor Allan Pollard, the cab operators are now being charged ten –dollars for each taxi driver – that is ten dollars less than the twenty that was being […]
Brace up because beginning on Sunday, your light bill is going up for the next two years. This follows a decision taken on Tuesday by the Public Utilities Commission as applied for by Belize Electricity Limited. The electricity company made a submission was made on April first, the beginning of the 2018 fiscal calendar. B.E.L., […]
Written on June 29, 2018 | Posted in
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When B.E.L. objected to an initial decision by the commission, an independent expert was appointed to review that conclusion and make recommendations to determine regulated values, tariffs, fees and charges to be included in the final decision. Ambrose Tillett is the Director of Electricity with the P.U.C. John Avery, Chairman, Public Utilities Commission “One […]
Written on June 29, 2018 | Posted in
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There are new developments tonight in respect of Choice Bank following an announcement on Thursday that the institution would be allowing its customers to withdraw funds in three tranches leading up to its closure at the end of the year. The bank, in its statement, said that clients would be able to take out up […]
Written on June 29, 2018 | Posted in
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The problems of the bank started months ago when it started experiencing a liquidity crisis and was forced to suspend all withdrawals from deposit accounts. By May, the central bank had instituted preventative measure to ensure that the bank was meeting the obligations of depositors and customers. In her statement, Grant said that a liquidator […]
Written on June 29, 2018 | Posted in
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The price of fuel has been fluctuating in the last few weeks with the latest adjustment to diesel, a decreased of twenty-two cents and is now retailing for ten dollars and forty-five cents per gallon. Previous to that, regular fuel saw a decrease of thirty-three cents. At his last press conference, Prime Minister Dean Barrow […]
Written on June 28, 2018 | Posted in
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G.O.B. has refused to reduce fuel tax. Entities such the Belize Chamber of Commerce and Industry have called on the government to re-strategize and review its fuel tax regime. Last month, the B.C.C.I. fired off a release in which is stated, “It is not hard to see that any increase in fuel cost quickly wreaks […]
Written on June 28, 2018 | Posted in
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Petrocaribe is rolling no more. Belize is among eight countries affected by Venezuela’s PDVSA which has said that it is suspending its petroleum deliveries. Reports emerging from Venezuela suggest that PDVSA’s oil production is falling drastically. Coupled with the U.S. sanctions, its future financial status is bleak. Financial Secretary, Joseph Waight says that through the […]
Written on June 28, 2018 | Posted in
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There are new developments in respect of the embattled Choice Bank Limited. In a first statement issued today, the financial institution informed its depositors that as of July second, they will be able to withdraw up to twenty-five thousand U.S. dollars from their respective accounts. The announcement comes after the offshore bank suspended all withdrawals […]
Latest statistics show a mixed bag in the cost of living. Prices for goods and services went up slightly in May of this year when compared to the same period last year. Consumers also felt a pinch in their pockets due to transportation costs which resulted from a rise in prices for fuels and lubricants. But […]
Preliminary findings from the April 2018 labour force survey carried out by S.I.B. shows that the country’s unemployment rate increased by a marginal zero point four percent, so when compared to last April’s nine percent, the unemployment rate now stands at nine point four percent. According to the S.I.B., this resulted from an increase in […]
The price for diesel decreased by twenty-two cents per gallon at the pump in Belize City and is selling at ten dollars and seventy-five cents. A release from the government says that the price decrease follows a fall in the price of regular gasoline which took effect on June eighteenth, 2018. It is expected that […]
Written on June 26, 2018 | Posted in
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Prime Minister Dean Barrow has written a terse letter to the Chamber of Commerce in response to their concerns on the crippling fuel prices. He tells them that there is no chance that fuel taxes will go down. On June twelfth, the Chamber made the point that government’s take on the prices of fuel is […]
Two weeks ago, in a press release G.O.B. promised that the prohibitively high fuel prices would go down at the next shipment. Well, that has shipment arrived. But over the weekend, the price of regular went down by thirty three cents per gallon, and today the price of premium went up by four cents. Still […]
Written on June 19, 2018 | Posted in
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There are back to back changes to fuel prices announced within days of each other. The latest is a slight increase in the price of premium which goes from eleven dollars and sixty-seven cents to eleven dollars and seventy-one cents per gallon. That takes effect at midnight. After a number of price increases since the […]
Written on June 18, 2018 | Posted in
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A report in the Antigua Observer is causing shivers in some parts of the Caribbean. The report states that the island has received word that the largesse of the Petrocaribe is coming to an end. This, according to the report, is due largely to the deep fall in the production of crude oil from Venezuela. […]
And while on the issue of fuel, the Ministry of Finance says it will not be possible, at least not soon, to consider a decrease in taxes connected to fuel collected by the government. In a release on Tuesday, it re-stated its position, blaming the successive increases and yo-yo-ing prices for fuel on “skyrocketed” global […]
Written on June 13, 2018 | Posted in
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An eighth price hike since the start of the year is coming, but only for diesel oil as confirmed by the Government of Belize this evening. As of midnight, diesel oil will cost ten dollars and ninety-seven cents, an increase of thirty-four cents, in Belize City. Prices will be slightly higher in the districts due […]
Written on June 7, 2018 | Posted in
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Earlier in the newscast, you hear the P.U.P. leader speak on a number of pressing national issues as well as party matters. But John Briceño opened his press conference today with an overview of the economic situation. He made note of the continuous price increases in fuel prices, which as has been pointed out, is […]
The latest economic report is a mix of news, good and not so good. Though as we reported on Wednesday night, fuel prices have gone up seven times since the start of the year and that is a driver of the economy, SIB says it’s costing slightly less to obtain the basic goods and services. […]
Written on May 31, 2018 | Posted in
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