Home » Economy Featured Miscellaneous People & Places
You are currently browsing entries filed in: Economy Featured Miscellaneous People & Places
The Statistical Institute of Belize has released the latest figures in three categories, including the External Trade Bulletin, the Consumer Price Index, as well as the Labor Force. This information is relative to November. Total imports last month were valued at a little over one hundred and fifty-four million dollars, which represents a decrease of […]
And in financial news, there is information to News Five that as much as sixty million dollars of Belize Bonds traded on Tuesday at a fire sale price of thirty-four cents to the dollar. From what we have learnt a private Swiss Bank bought the bonds but the seller is not confirmed at this time. […]
Hold your horses on a U.H.S. showdown. The twenty-one day waiting limit for the Belize Bank to acquire notice of the Caribbean Court of Justice’s decision has expired. That decision allows enforcement of the thirty-three and a half million judgment for re-payment of a loan guaranteed by government on behalf of Universal Health Services, now […]
Written on December 20, 2017 | Posted in
Economy,
Trials |
No comment
The eagerly-awaited motion on Universal Health Services was not tabled today, but another money-related motion was. A forty-million U.S. dollar motion for a loan from the Export-Import Bank of the Republic of China (Taiwan) was tabled in the House. The loan is to be disbursed in four equal annual instalments between 2017 and 2020, while […]
The Government also introduced the third General Revenue Appropriation Supplementary Bill of 2017, concerning the last of the Petrocaribe funds spent by Government. After several years of riding high on the funds obtained through Venezuela to spend on everything from sports stadia to tacos and pibil, the funds slowed to a trickle and the program […]
Written on December 8, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
Businesswoman and influential past president, Kay Menzies, addressed today the issue of increased taxation as a measure to settle debts. In her view, taxes are not the answer; instead government should grow the economy. Menzies says you can’t hold on to debt, because it won’t go away. Kay Menzies, Managing Director, Karl H. Menzies […]
The GDP grew by zero point five percent for the last quarter. As you heard on Wednesday, the SIB’s stats for the last quarter- July to September – show marginal growth when compared to the same quarter last year. At Wednesday’s press conference, the SIB also shared the latest on prices and external trade. According […]
Written on November 30, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
The Memorial Park has not fared as well as its counterparts, the B.T.L. Park and Battlefield Park, as a source of economic development for Belize City. This is despite its prime location in the heart of the tourism zone and right next to the Tourism Village. The Belize Tourism Board and the Village have been […]
Written on November 30, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
Getting a business off the ground can be a daunting prospect for any entrepreneur. Today, an event took place that brought together players from many sectors who offered support on how to start up a business from concept to financing. News Five’s Duane Moody reports. Duane Moody, Reporting The third Annual National Entrepreneurship Convention […]
Written on November 30, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
The Gross Domestic Product grew by zero point five percent for the last quarter. According to the Statistic Institute of Belize, this is on par with last year’s growth for the same period. The report shows that production in bananas dropped by four percent and lobster and shrimp combined saw a fifteen percent decrease in […]
Written on November 29, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
In anticipation of Wednesday’s announcement, The Belize Bank Limited is speaking out on the ninety million dollar judgment ordered by the Caribbean Court of Justice. Much of the Bank’s three-page release offers the background in terms of the winding nature of the court case, which has been heard in one form or another in four […]
Written on November 28, 2017 | Posted in
Economy,
Featured |
No comment
While the Government is still reeling from the recent C.C.J. decision confirming that they owe Belize Bank over ninety million dollars for a loan note in respect of U.H.S., other major problems may be looming in relation to the Super Bond. That is because under the terms and conditions of the Super Bond, the Government […]
Written on November 27, 2017 | Posted in
Economy,
Politics |
No comment
There is more on the U.H.S. issue…Since the Caribbean Court of Justice made the order on November twenty-second for the repayment of a ninety-million dollar loan to the Belize Bank Limited to recoup an investment in the former Universal Health Services Limited, there has been mounting outrage over the high bill. The U.S. Supreme Court […]
Written on November 27, 2017 | Posted in
Economy,
People & Places,
Politics |
No comment
Earlier today when Mai gave this interview he said the party’s parliamentary caucus is set to meet on Wednesday to formulate its official position ahead of the House meeting. However, the vote is not as simple as yea or nay. The U.D.P. holds a comfortable majority of seven, meaning that if at least sixteen votes […]
Written on November 27, 2017 | Posted in
Economy,
People & Places,
Politics |
No comment
M ai says his own constituents have raised their concerns, particularly about the interest accruing on the debt. He also notes that the long delay has helped U.D.P.-connected attorneys make big money fighting cases in the courts both locally and internationally. There could even be consequences with the recently re-negotiated Superbond. But in the end, […]
Written on November 27, 2017 | Posted in
Economy,
People & Places,
Politics |
No comment
The Belize Tourism Board has a brand new app for the cruise industry. The free app provides real-time date information for cruise ship calls to Belize. BTB says that the app, which is compatible with android and iOS devices, is loaded with features that will help to save time and make access to information easier […]
Can more be done to stabilize and reduce fuel prices? Despite the best promises of Prime Minister Dean Barrow after a series of cruel spikes between August and early October, prices have only returned to the pre-spike levels. Two weeks ago, Financial Secretary Joseph Waight informed that prices would be stable and only go down […]
Written on November 22, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
The Government had to put together seventy-eight million U.S. dollars to repay Dunkeld International Investments Limited and the B.T.L. Employees’ Trust as final payment for the acquisition of Belize Telemedia Limited twice over. Both Prime Minister Dean Barrow and Financial Secretary Joseph Waight indicated that there should be no immediate effect on buying power. But Waight […]
Written on November 21, 2017 | Posted in
Economy,
Miscellaneous,
People & Places |
No comment
The House of Representatives’ Public Accounts Committee’s last two meetings wound up canceled. One was by its chairman Julius Espat because Auditor General Dorothy Bradley was not able to attend. The other happened after three members who are Government ministers caught the flu and viral conjunctivitis within days of each other. At that time the […]
One of the contentions raised by Espat and echoed by the social partners is that Public Accounts Committee meetings should be held in public as the name suggests. But Patrick Faber contends that there are pitfalls to such a plan – namely worries that some will cherry-pick what is said and use it against the […]
This evening, we sought a response from the Committee’s Chair, Julius Espat. For the most part, he said, the meeting was an education in the role and responsibility of the Auditor General’s office and its relationship with the committee, which in Belize’s case is for the most part non-existent. Espat says the entities must work […]
Espat told us that with respect to the past absences, he has made it clear to his fellow parliamentarians that he will tolerate no excuses for future absences from meetings. The issue is important enough that a united bi-partisan front is critical to solving the myriad issues with the government and public service. And while […]
Earlier this week on Wednesday, the Financial Secretary promised that consumers can expect a decrease in fuel prices. He didn’t say there would be an increase, but as of midnight tonight, you can expect one. Regular fuel is going up by twenty-seven cents, but the good news is that premium goes down by eight-five cents. […]
Written on November 9, 2017 | Posted in
Economy,
Featured |
No comment
The Government of Belize says it has the money. But tonight, the question is whether it will meet the November tenth deadline for final payment of compensation for the double nationalization of B.T.L. Financial Secretary Joseph Waight confirmed today that payment had not yet been made, and said he expected that it would be done […]
The removal of seventy-eight million U.S. dollars or the equivalent of a hundred and sixty million Belize dollars from the country’s foreign assets is nothing to sneeze at. And the timing – as retailers go into high gear for the Christmas season – is going to have an impact. But Financial Secretary Joseph Waight told […]
