The Belize Electricity Limited has for years been purchasing power directly from Mexico’s Comision Federal Electricidad. But that can now change since the Government has applied to the Public Utilities Commission for a license to purchase the power for resale to BEL. The new arrangement will be operated under the Ministry of Finance and while […]
But what can Belizeans expect in terms of electricity rates for 2011? Well, that is still up in the air, according to Young, because there are many factors that have bearing on electricity rates, including the skyrocketing diesel prices and an increase in taxes. But if the local supply from the hydro dams and the […]
Henry Canton was terminated as the Chief Executive Officer of the Citrus Products of Belize Limited at an extraordinary meeting of the citrus growers on December eighteenth. Canton has maintained that the process was flawed. Today the Belize Citrus Mutual concurred with Canton, saying that the shareholder’s agreement signed between the Citrus Growers Association and […]
At midnight on Monday, when most were in deep slumber, the prices of fuel went up again for umpteenth time this year. The increase is merciless and has sent prices soaring well above the ten dollar mark. So to greet the New Year, premium went up by forty cents and is now selling at ten […]
It’s past midnight; many are still in deep sleep. Not so for market vendors, who bring fresh-from-the-farm produce to sell. Their day starts way before the sun rises, and their journey from communities far away brings them to the old capital. They brave the weather, the risks and much more to stay in the business. […]
Vendors are moving back to the Michael Finnegan Market at the West Collet Canal after spending months at the temporary location at the Poundyard compound. The new facilities are likely to be accompanied by increase in rents, but will the price of the fruits and veggies go up? News Five’s Marion Ali went looking for […]
It’s a time for giving…and corporate citizen SMART, stepped up its Christmas promotions big time today. One customer got lucky and went home with big bucks while another won a cell and a one year package. According to SMART, there are also offering great deals for the holidays. News Five’s Delahnie Bain found out who […]
In September Prime Minister Dean Barrow told the nation in his Independence Day speech, that Belize’s thriving livestock industry would begin exporting cattle to neighboring Mexico by the end of this year. That was good and welcomed news for the industry. But where’s the beef? According to cattle farmers, that deadline will not be met; […]
The European Union is providing twenty-four point nine million Euros, the equivalent of over sixty-two point three million dollars for aid in rural development and for the sugar industry. According to a press release, the funds should also assist with projects geared towards poverty reduction. Three financing agreements were signed today, between Prime Minister of […]
In our newscast on Friday we did not go into full details of the bills that got House approval and others that were introduced. One of the Bills that was amended and passed was the Income and Business Tax Act. It generally offers a small tax relief to persons in the workforce whose incomes fall […]
But the big bulk of tax relief in the amended Income and Business Tax Bill will go to Telemedia which the government nationalized in August, 2009. Prior to that, in December 2008, the government had increased business tax from nineteen percent to twenty-four point five percent on telecommunications. Well, now government has reverted to the […]
It’s the last sitting of the House of Representatives for the year. Perhaps because it is the Christmas season, both sides of the House were restrained in their rhetoric. But we’ll start with perhaps the big news of the day, which is the that new arrangements are being put in place to allow for US […]
Recently, the sugar industry also faced its own crisis when the Belize Sugar Industries was unable to make third payment to farmers and did not have the funds necessary to start the new crop. After BSI received waivers from both the ING and FirstCaribbean International Banks, it was able to access a ten million dollar […]
The sparring was not limited to Said Musa and Anthony “Boots” Martinez; there was also an exchange between the two leaders, Dean Barrow and John Briceño. It came during the presentations on the Bill to amend the Income and Business Tax Act. The bill offers a small tax relief to working persons earning up to […]
Henry Canton is out. Up until this morning, Canton was the CEO of the Citrus Products of Belize Limited, the CPBL. For months he came under constant fire from his parent company, Citrus Growers Association, and by noon today, he was terminated but had not been served his official marching orders. Canton says it’s illegal […]
The Belize River Valley is lush with the cohune palm. It also grows abundantly throughout the country. The palm has a number of uses; it is prevalently used for thatching while the nut is used to produce oil. Villages in the valley are turning to cohune oil production for their economic growth and to put […]
There is grave news to report tonight that will put the government out of pocket by millions of dollars. Today’s edition of London’s based Telegraph newspaper, reports that the British Ministry of Defense has announced that the British government is ending jungle training in Belize. Reports of the closure were in the air for some […]
The 2010/2011 sugar crop season officially got underway today following a multimillion dollar bailout from the Government of Belize after weeks of uncertainty. The Belize Sugar Industries Limited faced a major financial dilemma when it failed to make a third payment to thousands of sugar cane farmers. In mid-November the Prime Minister of Belize during […]
The prices of petroleum have continued to rise steadily since 2008. Already since the beginning of December, the prices of regular, premium and diesel have gone up. On Tuesday night, the price of diesel went up again, from nine dollars and ten cents to nine dollars and nineteen cents. The prices of fuel continue to […]
In Spanish Lookout the dairy industry continues to flourish. Western Dairies produces a range of products such as milk, cheese and ice cream. I visited with them for a firsthand look at how that company developed over the years. {In detail look at Western Dairies production of milk and other products…}
There’s also more trouble in the citrus industry. The fate of an extraordinary general meeting to be called by the Citrus Growers Association this Friday to oust Dr. Henry Canton as chief executive officer of Citrus Products Belize Ltd. will be determined by the court in the next two days. Application for an injunction has […]
National Transport, the second bus company owned by the Novelo brothers, David and Tony, is not the only business to go belly up. Croc Land has also gone into receivership. According to an ad in the newspapers, Arturo Vasquez and Kevin Castillo have been appointed as joint receivers and managers of Belize Crocodiles and Reptiles […]
The Belize Natural Energy Limited, BNE, is facing a lawsuit by one of its founding directors. The company is one of four parties being sued by Paul Marriott, now the Director of PR Marriott Drilling of the United Kingdom. Marriott made the claim in July of this year, asking the Nevis Supreme Court to order […]
The heavily indebted bus company owned by the Novelo brothers went under last week. The receivers moved in to take over the assets because the company, National Transport, was not meeting debt obligations, reported to be in the millions of dollars. National Transport collapsed, but it was not the end. It has now emerged under […]
It has been a week and a half since we first reported of a financial crunch at the Corozal Free Zone and despite several meetings with the Ministry of Finance and the Central Bank things remain at a standstill. According to one board member of the Corozal Free Zone, the issue of the inability to […]
