Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Economy You are currently browsing entries filed in: Economy

Mexicans flood Corozal Free Zone

If you still haven’t finished your Christmas shopping and plan to make a last minute trip to Chetumal you’re likely to be in for quite a surprise. News Five’s Stewart Krohn reports from Santa Elena, Corozal. Stewart Krohn “For years we’ve watched as busloads of Belizeans head across the Rio Hondo to shop in Chetumal. […]

Small Farmers and Business Bank issues first loans

Last week the People’s United Party gave itself high marks for its first one hundred days of government. Today more words in the manifesto were put into action with the first disbursements from the recently reinstated Small Farmers and Business Bank. Stewart Krohn was on hand for the ceremonies in Belmopan. The lobby was crowded […]

Banks offer wide range of personal loans this Christmas

Children count on Santa Claus to fulfill their Christmas wishes, but adults either have to try and save their money all year, or as many people seem to be doing this year, apply for a loan. And even though they know a loan is not the same thing as free money because it has to […]

Ferry service could boost tourism

On yesterday’s newscast we reported on efforts made by the Tourist Board to bring more visitors to Belize’s shores. Today a new development promises to assist that campaign and also provide new opportunities for Belizean travelers. The American Viking Line has recently inaugurated a twice weekly ferry service from Tampa, Florida to the port of […]

Christmas shopping in full swing

The government has launched a public relations campaign to keep the Belizean dollar at home this Christmas and support local businesses. But with only ten more days until Christmas are consumers taking the slogan, “Buy Belizean” seriously? News Five set out on what for many people was a payday to see what the shoppers are […]

B.T.B. announces plans to boost tourism

Whether its accommodating eight hundred people off a cruise ship or eight people who want a personal tour guide for a trip to the zoo, the members of Belize’s tourist industry all want the same thing: for visitors to Belize to have the best time possible during their stay. And the new Belize Tourist Board […]

Prime Minister attends Miami regional conference

The Prime Minister Said Musa and Minister of Budget and Planning Ralph Fonseca are in Miami for the annual conference on the Caribbean and Latin America which begins tomorrow. The Miami conference brings together fifteen hundred public and private sector leaders from fifty countries to share information on business and policy developments. This year the […]

San Pedro ready again for tourists

What a difference a few weeks can make! At the end of October San Pedranos were staring in shock at their damaged piers and beachfronts. But today, the islanders are once again welcoming visitors to La Isla Bonita. News Five, which showed you the damage right after Hurricane Mitch, was invited out to San Pedro […]

British government to fund Southern Highway paving

The Prime Minister Said Musa this afternoon signed an agreement awarding a contract to pave a section of the Southern Highway to Meco and Santa Fe Limited. The almost twenty four million dollars for the upgrading of the approximately twenty-one mile strip from the Big Creek Port to the Bladden Bridge is being provided by […]

Belize to sell rice to Mexico

The way has been cleared for Belize to export rice to Mexico. According to a government press release, a three day meeting in Mexico City between Belizean and Mexican officials has resulted in an agreement for phytosanitary certification of Belizean rice so it may enter the Mexican market. The negotiating team, led by Minister of […]

B.C.B. goes off the air

The Broadcasting Corporation of Belize officially went off the air at noon today. Two other stations, LOVE FM and KREM Radio have signed contracts to purchase the transmitters and transmitting systems for two B.C.B. broadcast frequencies at a cost of about one hundred and sixteen thousand dollars each. They will also rent tower space on […]

First offshore bank opens in Belize

While the fate of Belize’s banana industry may depend on which side of the Atlantic wins the trade war, one group of Belizeans is taking its economic future into its own hands, with a venture into the world of international finance. On Thursday night Provident Bank and Trust, Belize’s first offshore bank, will be officially […]

New government bank opens in Belmopan

The government has announced that the Small Farmers and Business Bank, an institution whose establishment was promised in the P.U.P. manifesto, has been created and will open its doors on December first. The bank, which will provide loans for farmers and small businesses, will specifically target women. The bank’s office is on Constitution Drive in […]

First section of Southern Highway dedicated

The first completed section of the Southern Highway was officially opened this morning. The thirty kilometer stretch between Cattle Landing and Big Falls was paved at a cost of almost twenty million dollars. Present at the opening ceremonies were the Director General of the Kuwaiti Fund for Arab Economic Development Bader M-Al-Humaidhi, Minister of Works, […]

U.S. says banana quarrel is with Europe, not Belize

No doubt reacting to sharp criticism from the Belize Chamber of Commerce and an uncharacteristically harsh denunciation by the usually pro U.S. Reporter newspaper, the U.S. Embassy today issued a release defending its position on the banana controversy. Caribbean producers, including Belize, have increased the tempo of their attacks on U.S. policy, which has been […]

New officers for Chamber of Commerce

The Belize Chamber of Commerce and Industry has a new set of officers. Elected last Thursday to serve for the next twelve months are President Yolanda Crombie, Vice Presidents Gilly Canton and Mark Lizarraga, treasurer Carlos Ysaquirre and secretary Margaret Burrowes. Godwin Hulse sits on the executive as immediate past president while the five councilors […]

B.C.B. assets ready for bids

Broadcasters or prospective broadcasters looking for a bargain are now able to see exactly what the B.C.B. has for sale. A release from the Broadcasting Corporation of Belize transition committee says a document listing the corporation’s assets is now available for perusal and sealed bids will be accepted for single pieces or groups of equipment. […]

Minister of Economic Development addresses Chamber A.G.M.

In economic news today was the day that economy Czar Ralph Fonseca, also known as Minister of Budget Planning and Management, Economic Development, Investment and Trade, got a chance to take his message of growth economics directly to the people who are supposed to do the growing. Speaking at a midday luncheon of the Belize […]

P.M. addresses citrus growers

The Prime Minister, Hon. Said Musa was the keynote speaker at the thirty first annual general meeting of the Citrus Growers Association, held on Saturday, November seventh. Prime Minister Musa pledged that citrus growers and workers “will be able to access credit through the re-established Small Farmers and Business Bank”. Said Musa, Prime Minister “Citrus […]

Labor Department addresses hurricane payment

Since all Belizean employees returned to work on Monday, November second, the Labour Department has been swamped with numerous phone calls from both workers and employers inquiring whether an employee should be paid for the four days they were out of office due to the threat of Hurricane Mitch. In response, the Labour Department has […]

Belize Bank offers grace period

If you have borrowed money from the Belize Bank and are trying to recover from the financial burden brought on by the threat of Hurricane Mitch, we have a bit of good news for you. The bank has announced that it will defer one month’s payment free of service charge on all Action Plan Loans, […]

Tourists take no chances

As Belizeans called relatives inland to arrange temporary housing or contemplated going to shelters, many of the visitors to our shores– and even nearby waters — opted to try and catch a plane home. Needless to say the Philip S.W. Goldson International Airport was packed by an anxious, but patient crowd. News Five was there. […]

Cisco gets highway contract

The stretch of the Hummingbird Highway between the Sibun River Bridge to the Caves Branch Bridge will be rehabilitated with funds secured from the eighth European Development Fund. This afternoon in Belmopan the Prime Minister signed the contract for almost nine million dollars which was awarded to Cisco Construction Company owned by John Woods. Besides […]

“Roots” owner says station not for sale

Last night Channel Five reported that veteran broadcaster Colive Cabral was looking to buy the small Belize City radio station Roots Radio. Cabral told Channel Five’s Stewart Krohn that he and B.C.B. announcer Adrian Harris and B.I.S. Seth Hernandez were in negotiations with station owner and founder Murphy Maclaren to purchase the station. After seeing […]

B.T.B. completes its administration team

The new management team for the Belize Tourist Board has been selected. Joining the Director of Tourism, Valerie Woods and her Deputy Director for marketing and public relations Tracy Taegar Garcia are the Deputy Director responsible for finance and administration Evan Tillett and Deputy Director for product development Pedro Perez. The three deputy directors’ appointments […]