For the past couple months, the issue of de-risking has been placed on the backburner as other pressing national issues, including the Sarstoon and the B.T.L. arbitration award, have taken center stage in public discourse. But the focus tonight is once again on the loss of correspondent banking relations. This time, the Central Bank of […]
British withdrawal from the European Union, widely referred to as Brexit, follows the United Kingdom European Union membership referendum. It is a non-binding vote that took place last Thursday in the UK to measure support for the country’s ongoing membership in the EU. The result of the poll sent massive shockwaves across Europe, as fifty-one […]
From a historic perspective, the Caribbean, according to Vice-Chancellor Beckles, has been central to England’s rise to power. He contextualizes the history of England’s involvement in the region. Sir Hilary Beckles, Vice Chancellor, U.W.I. “The Caribbean has been at the center of all of this for the last four hundred years. The Caribbean has […]
Those in favor of leaving the E.U. say that it would allow the U.K. to better control immigration, thereby reducing pressure on public services, housing and jobs. It would also save billions of pounds in E.U. membership fees and allow the U.K. to make its own trade deals and free the U.K. from E.U. regulations, […]
While all eyes will now almost certainly be turned on the arbitration award, the situation at the Sarstoon continues in limbo. Coming out of a meeting at the O.A.S. last week, Foreign Minister Wilfred Elrington had no real progress report because there seemed to be no real progress to report. In fact, the only timeline […]
The People’s United Party announced on the eve of the Washington meeting that they would be withdrawing from the process because government didn’t appear to be serious in its talks with Guatemala. The Opposition proposed the formation of a national team with a clear, structured agenda and a timeline, as opposed to what they called […]
The last time News Five went to the Sarstoon just prior to the Washington talks last week, we were chased out by a Guatemalan naval vessel with nine armed soldiers. Fortunately, their boat was slower, since it didn’t seem they were trying to hold on to us to offer cervezas and cookies. Government had issued […]
To referendum or not to referendum – that is the question or at least one of the questions. Another involves the amending of Belize’s Referendum Act. It’s been reported that Guatemala wants Belize to change its law so that a simple majority would pass the vote. Currently, there needs to be a sixty percent threshold. […]
The decision of the three-member Permanent Court of Arbitration is in, and tonight we’ve got a first look at the figures contained in the hundred and thirty-nine page document. Just as very brief background – the Claimant in the matter was Dunkeld International Investments Limited, an Ashcroft company, and the respondent was the Government of […]
We’re just back from Las Vegas, Nevada where over the weekend; Belize was represented by eighteen poker players in the World Series of Poker Monster Stack Event. It was the second year a group travelled to Sin City to compete in the event. While the performance of the Belize team has improved, the poker players […]
This week’s editorial in the Reporter newspaper has managed to accomplish what little else has – accord between the Government and the Opposition. We’ll get to that, but first the apparently incendiary article on page two of the Reporter. It’s on the Sarstoon and starts like this, “There are many in Belize who still believe […]
The Opposition swung first this morning, via text from Senator Eamon Courtenay. He wrote, “The Reporter editorial of today is factually and legally wrong. It is a bizarre and possibly treasonous editorial. The Reporter owes Belizeans an unconditional apology and a complete retraction of this crude attempt at distorting reality. Once again we are making […]
As we mentioned earlier, the Reporter Editorial was written by newspaper owner Harry Lawrence. He received the letter from C.E.O. in the Ministry of Foreign Affairs Lawrence Sylvester this afternoon, and News Five managed to get a comment from him this evening via phone. On the Phone: Harry Lawrence, Owner, Reporter Newspaper “We will […]
Petrocaribe is celebrating eleven years in Belize, following the signing of an agreement with Venezuela on June twenty-ninth, 2005. The dream of former President Hugo Chavez was to promote regional harmony and relieve financial difficulties in Latin America and the Caribbean in the face of rising oil prices. The agreement allows for the direct sale […]
While the program under APBEL focuses on investing in Belize, there are plans for the company to branch out into the retail sale of fuel. Mencias provides a breakdown of revenues generated by APBEL as well details of its proposed foray into the retail market. John Mencias, Deputy Chair, APBEL “Remember we started September […]
The agreement provides for a portion of each invoice, known as the Financed Portion, to be paid over fifteen years at two percent interest with a two-year grace period. That is if the price of the product being purchased amounts to or is less than forty U.S. dollars per barrel. Mencias provides additional details. […]
Head of Mission Mykel Castillo Pena was also present at this morning’s Petrocaribe presentation. He explains the current hardship in Venezuela in the context of the Petrocaribe program. Mykel Castillo Pena, Chargé d’affairs, Venezuela [Translated] “The media has also made a gross lie against Venezuela. In fact, yesterday in Washington there was a meeting […]
Public and private sector accountants from across the Caribbean have converged on Belize for the thirty-fourth annual Caribbean Conference of Accountants. With over three thousand seven hundred members, today, three hundred accounting professionals gathered at the Ramada Belize City Princess for the three-day summit. The event focuses on the challenges facing the Caribbean in tapping […]
To assist with the implementation of best accounting practices in the region, a consulting firm from Washington DC is establishing presence in the Caribbean with an Enterprise Resource Planning software that companies can use to manage their business. Zalena Khan, Co-Founder, Z-Cloud “The easiest way to say this is comparing it to an accounting […]
But what are the challenges that correspondent banking relations have posed to the accounting professionals? According to Conference Chair Shawn Mahler, clients have been affected drastically, and it has forced businesses to reduce their earnings or close down because of corresponding banking issues. I.C.A.C. President Jasmine Davis says that they are looking at different ways […]
The number of persons that are HIV positive is high for the size of the population. And even though men are the most affected; they are the least to be tested. The National AIDS Commission carried out testing across the country with the support of Scotiabank and PANCAP. The aim is to wipe out the […]
Starting Saturday, twenty Belizean poker players will be competing in the World Series of Poker in Las Vegas, Nevada. The team has doubled since last year and all the players are eager and ready to compete against an estimated six thousand players at the WSOP’s Monster Stack Event. A News Five Team is in Vegas […]
An event took place in Belmopan today that is causing chatter and drawing controversy in some quarters. The Rainbow Flag, which is the recognized symbol of gay pride, was hoisted for the first time at the compound of the U.S. Embassy. There, it will fly until the end of the month to celebrate the ongoing […]
Foreign Minister Wilfred ‘Sedi’ Elrington returned from Washington this morning after leading a delegation of government representatives to meet with Guatemalan Foreign Minister Carlos Raul Morales and his delegation along with the O.A.S. Secretary General Luis Almagro. Since Istanbul, Turkey, it was the first round of talks at the ministerial level towards formulating a mutual […]
So with no protocols established, no formal or informal draft and no concrete establishment of a relationship in the Sarstoon pending the formal protocols, what really came out of that Washington trip? Senator Eamon Courtenay, the Opposition Representative for the Guatemala talks prior to them removing themselves from those talks, had definite ideas about that […]
