There is another side to the coin to reports involving the financial footing of the Citrus Products of Belize Limited. Recently allegations were made by the Citrus Growers Association that CPBL has failed to turnover a profit under its present CEO, Dr. Henry Canton and that it had experienced losses of twenty-seven million dollars. Following […]
For the second time, a company owned by the Novelo brothers Tony and David, has gone into receivership with its bankers for failure to meet debt obligations. So if you were waiting for a National Transport Services Bus this morning after nine-thirty, you would have been waiting in vain. The buses were called off runs […]
But how did the company reach insolvency? According to Philip Jones, when the government created a new zoning law, it lost most of its commerce. But Jones states that the situation is now in the hands of the lawyers and there will be no protest. Phillip Jones, Former Operations Officer, National Transport “We had financial […]
It was more of the same on Day Two of the Sustainable Tourism Program which involves the controversial zoning of the Fort Street Tourism Village. Thousands visitors disembarked the four cruise lines, but those who ply their trade to put bread on their table, were not happy campers. Under the new rules they must wait […]
It was Day One of the new zoning project at the Fort Street Tourism Village. But instead of having the desired effect of bringing a semblance of order to the otherwise chaotic tourism village, there was more confusion than usual. Tour guides, vendors and other industry players were unable to access visitors from four cruise […]
We have reported that businesses in the Commercial Free Zone have been unable to make deposits in US dollars. The freeze has been going on for about a week. The problem goes back to October when a global bank note services contract with Hongkong and Shanghai Banking Corporation (HSBC) was discontinued for Belize and the […]
Just before six this evening the government announced a breakthrough in the sugar dilemma and that is that the Belize Sugar Industries has received waivers from both the ING and FirstCaribbean International Banks. It means that the ten million dollar bailout loan approved by the House on November twenty-fourth for BSI can now be drawn […]
While BSI will be receiving the ten million dollar bailout, the situation in the Commercial Free Zone remains grave for businesses that have been unable to make deposits in US dollars. An emergency meeting was held last Friday evening between government, Central Bank and Free Zone officials but the situation persists tonight, and if it […]
It’s a main source of foreign exchange, but the tourism industry has been facing a myriad of challenges. So today, the stakeholders came out in numbers, packing the Radisson Fort George, to determine the way forward. The occasion was the Belize Tourism Industry Association’s Annual General Meeting. The good news is that the number of […]
At news time, the Commercial Free zone in Corozal is facing serious difficulties at the beginning of one of its busiest times of year. The Christmas season could see businesses collapse because of an economic roadblock between local and foreign financial institutions. Acting Prime Minister Patrick Faber is apparently meeting with ministers, representatives of Free […]
The baking of your ham, turkey and black cake will add to the pinch in your pockets this Christmas. That’s because the price per hundred pound cylinder of butane will be jacked up by a whopping eight dollars across the board. So brace yourselves for the new prices: as of Friday, Belize City and Corozal […]
Under pressure, the government announced today that it has disbursed a million dollar grant to the Belize Sugar Control Board to assist farmers with urgent financial obligations. The government, via a release, also chided the opposition for calling for an immediate disbursement of a ten million dollar loan to BSI for third payment to farmers […]
Fishing is one of our smaller but growing industries and plans are in the works for its development. Ideas on how to move the industry forward were shared and discussed today at the first National Fisheries Forum, which had representation from related NGOs and regulatory bodies, cooperatives, and the fishermen from across the country. The […]
In the House of Representatives last week both sides gave their support for a bailout loan to the Belize Sugar Industries. The government and the opposition both recognized that the Sugar Industry is vital for the survival of farmers in the north. Because of the “turkey weekend” in the United States, the prime minister indicated […]
Basket weaving is a form of art; it requires creativity and particular skills. It is craft that the women of southern Belize rely on to generate income and employment. They traveled to Belize City today to both display their products but also to launch their first national sale. News Five’s Delahnie Bain had a look […]
The high season in the tourism industry is about to get off, but before tourism dollars can be made; several overbearing matters are already falling off the plate of cruise tourism stakeholders. The latest issue involves zoning to regulate the chaotic Fort Street Tourism Village which has resulted in the displacement of seasoned tour operators […]
Another contentious topic in the industry is the proposed introduction of cruise tourism in the Placencia Peninsula. The residents in the village stand squarely against it and have the backative of the village council and the local branch of the BTIA. Today FECTAB also gave the Placencia residents its support, saying that it is too […]
A bail-out for the ailing sugar industry was announced today. Following a meeting between Government and the Belize Sugar Industries, the Belize Cane farmers Association, and the Sugar Control Board, a memorandum was signed committing the government to provide a temporary solution to avert a major crisis in the sugar belt that would displace thousands […]
The Treasury notes for ten million dollars will keep the industry afloat for some time. The government has also decided to provide to BSI, an additional million dollars, initially set aside to improve sugar roads. The PM said that while the fund is unconditional, hopefully BSI will use some of it on road repairs. Eleven […]
One of the main inefficiencies that the Belize Sugar Cane Famers Association, the Sugar Industries Control Board and BSI agree needs to be improved is the quality of cane. You may well remember the violent protest that resulted in the death of one canero, Atanacio Gutierrez, during which farmers agitated for the removal of the […]
The Southern Regional Council of Tour Guide Association is going against the grain in respect of cruise ship tourism in the South. The Placencia Village Council and the B.T.I.A. have given a thumbs down to cruise tourism, but the council, which is committed to sustainable tourism, says it cautiously welcomes small scale cruise ship tourism […]
Tensions have subsided somewhat in the sugar belt where some resolution is in sight to the crisis over delayed third payments to the eight thousand cane farmers. The Social Security Board met late Wednesday evening to work out details that could expedite a ten million dollar loan to the Belize Sugar Industries. The loan already […]
Cruise ship tourism in the peninsula is meeting more opposition. The Placencia branch of the Belize Tourism Industry Association has rejected a proposal by the Belize Tourism Board and Royal Caribbean cruise line. Placencia residents and major investors on October twenty-second vehemently objected to the idea. B.T.I.A. Placencia says cruise tourism will have a negative […]
The reps from the University of the West Indies also signed a Memo of Understanding with the Belize Chamber of Commerce and Industry to formalize training for the private sector. The MOU has five areas of collaboration, including: capacity-building through public education, research and data analysis, policy development, and regional integration. The agreement will also […]
The House of Representatives met in Belmopan today and by two-thirty this afternoon the session was over. The two big agenda items dealt with Telemedia and immigration but there were also a number of side events during the proceedings. The nationalization of Telemedia continues to be the Achilles heel of the prime minister and he […]
