Last week the Prime Minister expressed a degree of optimism saying that the economic outlook will improve in the first quarter of this year. And according to the latest figures for the third quarter of 2009, the Statistical Institute says there was a “modest improvement” over the first two quarters of last year. In terms […]
An independent expert has been appointed to analyze the initial decision of the Public Utilities Commission in the Full Tariff Review Proceeding (FTRP) for the Belize Water Services Limited (BWSL). The PUC’s decision was to grant a ten point six percent rate increase as opposed to the twenty-five percent hike that BWSL had requested. But […]
And while George Price has retired from political life, it does not mean that he is out of the loop on national issues. News Five asked him today about his view on the global financial crisis and the recession that is hitting us hard. Price centered his response on food security and less dependency on […]
In news of an economic nature, the recession has infiltrated every nook and cranny and it does not seem to be escaping anyone. But amidst the hard times there are a few businesses that are helping the public to better cope with the financial downturn. Marion Ali went looking but did not find very many […]
For at least two weeks the status of British Caribbean Bank (Turks & Caicos) Limited’s forty-five million dollar loan to Belize Telemedia has been in the headlines. The bank has said the nationalization of Telemedia did not include the forty-five million dollar loan and demanded payment from Telemedia. Prime Minister Dean Barrow responded that Telemedia […]
Another hot button issue is the recession, which was officially announced by Prime Minister Dean Barrow on October twenty-ninth. When that announcement was made, it was not followed by what will be done to weather the economic storm but everyone has been tightening their belt. Today at the Queens Room at the Princess Hotel, the […]
The Public Utilities Commission announced on November seventeenth that it was only giving the green light to a ten point six percent increase in water rates sought by the Belize Water Services. BWS had requested a twenty-five percent hike to cover ninety-two million dollars worth of expansion projects. The proposed water increase sparked much opposition […]
The number of visitors to Belize has declined by five point two percent and stakeholders in the Tourism Industry are feeling the pinch of the economic downturn. On Tuesday, a News Five team found hotel occupancy at its lowest in San Pedro, a prime destination. But despite the bleak outlook, at its Annual General Meeting […]
It’s the high season in the Tourism Industry but if you visited La Isla Bonita, the number one tourist destination, you wouldn’t know because the island is not experiencing the hustle and bustle of the season. It is officially known that the number of stay over visitors has decreased by five point two percent and […]
The Public Utilities Commission has reviewed a multi-million dollar business plan submitted by the Belize Water Services Limited and has approved a water rate increase of ten point six percent without changes to any current fee structure. Today the P.U.C. explained that it also made changes to B.W.S.L.’S business plan and proposed that operational expenditures […]
The Public Utilities Commission has reviewed a multi-million dollar business plan submitted by the Belize Water Services Limited and has approved a water rate increase of ten point six percent without changes to any current fee structure. Today the P.U.C. explained that it also made changes to B.W.S.L.’S business plan and proposed that operational expenditures […]
From land to water: brace yourselves, because the tough times are about to get worse. Late this evening the Public Utilities Commission announced an early decision on the application by BWS for a rate increase. The government operated utility company had requested an increase of twenty-five percent on water rates and the PUC has now […]
If you are running out of butane gas, you have a few hours left before the prices go up well above the hundred dollar mark for the hundred pound cylinder. With effect from Friday, the prices for the cooking gas will go up considerable by seven dollars. At the beginning of the year, consumers were […]
The Scouts Association of Belize has embarked on a recycle project as their contribution to the protection of the environment. The project started last month and is teaching the youngsters not only to care for the environment, but it is also providing a source of income, through the collection of plastic bottles, waste paper and […]
The Statistical Institute of Belize has just released the Second Quarter 2009 Gross Domestic Product results. The results were poor. The Prime Minister in his quarterly press conference last week indicated that the country was in an economic recession. The blame is being placed on the global financial crisis which started on Wall Street in […]
Meanwhile, consumers will have to worry about one more expense; the water bill. The Public Utilities Commission, P.U.C., reports that it has received only four written comments on a submission by the Belize Water Services for a twenty-five percent increase in water rates next year. Of the four comments, two were outright objections while another […]
And the government’s windfall tax on the petroleum industry in 2008 has fallen short since the cost of a barrel of oil has gone below the tax threshold of ninety U.S. dollars. But the government still has royalties that it collects from Belize Natural Energy. The Prime Minister announced on Wednesday that revenues are down […]
On the day the US announced its recession may be over, in Belize, Prime Minister Barrow admitted that we are now in the grips of a recession. Significantly, revenue collections plunged and according to the government, we are facing the brunt of the global financial crisis. And if you are wondering how to weather the […]
And the news doesn’t get better because he the Prime Minister won’t keep a commitment to bring the prices down “no matta what”. Earlier this year on March sixth, Barrow said that the one dollar tax on fuel would not take the price of diesel above the six dollar per gallon mark and gasoline above […]
There is a war in fuel prices. Gone are the days when gas stations stick to the regulated prices set by government. News Five checked with several stations today and found where consumers can save a few cents at the pump. The government controlled price of fuel at the pump is eight dollars and seventy-four […]
A new fuel hike was sneaked on consumers at midnight on Wednesday. Starting with the good news; the government approved price for Regular gasoline is now eight dollars and seventy four cents. However, there is competition for consumer dollars and some of the gas stations are selling below the eight seventy-four. If motorists shop around, […]
Cost of living is up. But just in case you weren’t sure about the inflation figures, a release from the Statistical Institute of Belize confirms an overall increase in price of goods and services. The Institute reports that the overall price level rose by point eight percent between May and August of this year. The […]
Water rates; are they going up? Well, if the opposition had its way, it wouldn’t. Last Friday, we reported that the Belize Water Services Limited is applying for an increase in rates… not an ordinary increase, it’s a twenty-five percent hike. The Public Utilities Commission earlier this week held a press conference to say that […]
Sanitation services remain unpaid, but the Belize Water Services Limited is asking the Public Utilities Commission to approve an increase in water rates. The P.U.C. says a determination will be made after following a full tariff review. News Five Jose Sanchez reports from a P.U.C. press conference which had its own side show. Jose Sanchez, […]
Just when you thought the cost of living was unbearable, well you might have to dig even deeper into your pockets to cough up more money – that is if the Belize Water Services gets its way. The Public Utilities Commission, P.U.C., is considering a Full Tariff Review Proceeding application. In lay man’s terms, B.W.S. […]
