Caribbean Update back issues from Saturday, June 1:
AEROFLOT RESUMES HAVANA FLIGHTS.
Jun 01, 1996 ... Aeroflot, Russia's state-owned airline, said April 25 it would resume flights to Havana (as its final destination) in July, ...
AIR JAMAICA POSTPONES EXPANSION.
Jun 01, 1996 ... Air Jamaica has postponed its planned expansion to Los Angeles, scheduled for May 3, and San Francisco, set to begin in June. But the carrier says it will add a second daily flight from Ft. Lauderdale to Jamaica starting June 1. Air Jamaica said it was forced to delay the West Coast service ...
AIRLINE RELOCATES TO P.R.
Jun 01, 1996 ... Dolphin Airlines, which flies between the U.S. and British Virgin Islands and Puerto Rico, is moving its headquarters from St. Croix (USVI) to Puerto Rico, taking 40 employees with it. The move is part of a deal with Puerto Rico's Airport Management Group, which ...
AIRPORT EXPANSION.
Jun 01, 1996 ... Expansion work on the terminal building at Robert Bradshaw Airport has begun, following the signing here of an agreement with French building contractor Nofrag, says Ian Liburd, general manager of the St. Christopher Air & Seaports Authority. The project is ...
ALASKA LINE TO CRUISE CARIBBEAN.
Jun 01, 1996 ... World Explorer Cruises, well known to the Alaska market, for the first time in history is planning two 14-day voyages to the Western Caribbean and South and Central America this winter. Cruises will ...
AMERICAN AIRLINES will introduce a third daily flight from Miami to Grand Cayman
Jun 01, 1996 ... AMERICAN AIRLINES will introduce a third daily flight from Miami to Grand Cayman on June 16. American was awarded the route suspended by Northwest Airlines ... Cayman ...
AMERICAN EAGLE ADDS FLIGHTS.
Jun 01, 1996 ... American Eagle, which began service between Dominica and San Juan, P.R. six months ago, has expanded to 10 flights weekly, says Curtis Reimer, vice president of field services ...
AMERICAN'S FOURTH TOP MARKET.
Jun 01, 1996 ... The air corridor between San Juan and New York City is the fourth top market worldwide for American Airlines, with an average of 3,691 passengers daily, according to a 1995 profile of the AMR Corp., ...
AMEX TO LIST OPTIONS ON GOLDEN STAR RESOURCES.
Jun 01, 1996 ... The American Stock Exchange on May 2 said it would trade options on the AMEX-listed stock of Golden Star Resources Ltd. (AMEX: GSR) beginning Wednesday, May 8. Golden Star, based in Denver, Co., is a gold and diamond ...
AMMONIA PLANT SITE CHANGE.
Jun 01, 1996 ... Farmland MissChem Ltd. on April 23 said that it is evaluating alternate sites for its Trinidad anhydrous ammonia facility. The present site for the 1,850-metric-ton-per-day plant is located in the La Brea Industrial Estate. "Farmland has been informed by the constructor of the plant, The ...
APPAREL EXPORTS TO U.S. UP 7.9%.
Jun 01, 1996 ... Exports of apparel from the Caribbean Basin to the U.S. during the first two months of 1996 rose by 7.9% to US$765 million, according to the U.S. Department of Commerce. During the same period, worldwide apparel exports to the U.S. rose by 2.48%. The Dominican Republic is the major exporter ...
ARCADIAN CORP. PROFITS.
Jun 01, 1996 ... Arcadian Corp. (NYSE: ACA; NYSE: ACA.PRA), based in Memphis, Tenn. on April 19, 1996 announced net income of US$41 million, or $0.85 per share, for the first quarter of 1996 compared to pro forma net income of $31 million, or $0.68 per share, and historical net income of $14 million, or ...
ATLANTA-ARUBA AIR ROUTE.
Jun 01, 1996 ... ALM Antillean Airlines, the official airlines of the Netherlands Antilles, said May 9 it has expanded its service from Atlanta to Aruba. Previously, the airline served the islands of Curacao and Bonaire. The new Sunday service is in addition to the current Saturday service from Atlanta. ALM ...
AUSTRALIAN/FRENCH CONSORTIUM ENTERS MARKET.
Jun 01, 1996 ... BHP Petroleum (Australia) and Elf Acquitaine (France) signed a production sharing agreement on April 22 to explore for oil off Trinidad's northeast coast. They predicted yearly profits of US$100 million. The agreement covers ...
BARBECUE FRANCHISE.
Jun 01, 1996 ... Tony Roma's, a U.S. franchise specializing in barbecued beef ribs (it is based in Dallas, Tex.), is scheduled to open three sites in the San Jose area, according to local ...
BASIC EDUCATION PROJECT.
Jun 01, 1996 ... Government has applied for a loan of US$10 million from theCaribbean Development Bank (CDB) to improve basic education in St. Kitts & Nevis. US$5.75 million will be applied for construction of 16 buildings (11 in St. Kitts and 5 in Nevis) and associated civil works. Bids from ...
BEVERAGE AD ACCOUNT.
Jun 01, 1996 ... Cadbury Beverages International on May 8 named Foote, Cone & Belding Chicago agency of record in Latin America and the Caribbean for its Crush, Canada Dry, Schweppes and various regional brands. With billings estimated to be US$10 million annually, the appointment marks FCB's first ...
THE BUSINESSMAN'S GUIDE TO THE OECS
Jun 01, 1996 ... THE BUSINESSMAN'S GUIDE TO THE OECS for 1995-96 is a 400-page "directory of commerce, industry and tourism" which includes economic data, addresses and phone numbers of businesses in the territories of the Organization of Eastern Caribbean ...
BUSINESSMEN STRIKE AGAINST TAX LAW.
Jun 01, 1996 ... Proprietors of some 1,400 companies in the duty-free Zone of Colon, eight kilometers west of the Panamanian capital, held a strike on April 29 to protest against the Government's tax policy:* The 24-hour strike was sponsored by the Association of Concessionnaires (AC)in the ...
BWIA-DOMINICAN ACCORD.
Jun 01, 1996 ... BWIA (based in Trinidad & Tobago) and APA, the privately-owned flag carrier of the Dominican Republic, have signed a three-pronged accord for closer cooperation, says BWIA interim President Mike Stanfield. The first phase, already in effect, allows BWIA to provide reservations, handling and ...
BWIA FREQUENT FLYER CARD.
Jun 01, 1996 ... The Royal Bank of Trinidad & Tobago Ltd. and BWIA have launched the Royal Bank/BWIA Frequent Flyer Mastercard. Each time it is used, the cardholder earns free miles at a rate of one mile for every TT$6 ...
CANOUAN DEVELOPMENT.
Jun 01, 1996 ... Canouan Resorts Development Ltd. (CRD) has announced the construction of 36 townhouses (containing 90 hotel-style bedrooms and suites) and five villas as the start of the second phase of development at its resort property on Canouan Islands in St. Vincent & the Grenadines. Construction has ...
CAP JULUCA RESTORATION COMPLETE.
Jun 01, 1996 ... Cap Juluca, the luxury resort on Anguilla, has completed a US$10 million restoration project to repair damage from Hurricane Luis last September. Maundays Bay, the mile-long white powder sand beach which was swept out to sea ...
CARIB EXPRESS STILL CLOSED.
Jun 01, 1996 ... Efforts to revive Barbados-based Carib Express, the regional airline which suspended operations in mid-April, have yet to bear fruit. The 100-plus workforce was laid off on April 30. CEO Brian Pocock has held out the possibility of an employee buy-out. Losses have been estimated at US$15 ...
CARIBBEAN CRAFT CATALOGUE.
Jun 01, 1996 ... The "first ever authentic Caribbean product catalogue" for handicraft will feature full-color illustrations of 100 craft producers from different countries of the region. Selection of those producers to be included ...
Caribbean UPDATE derives its information from numerous sources
Jun 01, 1996 ... Caribbean UPDATE derives its information from numerous sources, including personal contacts with key government and corporate officials. We receive reports and press releases from international agencies, governments, corporations, and chambers of commerce. We subscribe to the daily service ...
CASTRO CALLS FOR BOOSTING TOURISM.
Jun 01, 1996 ... President Fidel Castro said April 29 that Cuba will continue to develop the tourism industry because it is an important source of income for the Caribbean nation. Speaking at the 17th Congress of the Cuban Workers' Union, Castro said that the tourism industry is a resource which the island ...
CASTRO UPBEAT ON ECONOMY.
Jun 01, 1996 ... Amid a new mood of optimism, Cuban President Fidel Castro on May 1 led a Labor Day march of several hundred thousand people through downtown Havana's Revolution Square. Despite continued rains, smaller marches were held in 14 other provincial cities, according to reports by the official ...
CENTRAL AMERICA POWER GRID.
Jun 01, 1996 ... The Inter-American Development Bank seeks consultants for "complementary feasibility studies to determine the best interconnection alternative" for the Central American Power Grid (a future IDB project tentatively valued at US$156 million). Studies will include technical, economic, ...
CHINA-CUBA TEXTILE ACCORD.
Jun 01, 1996 ... The president of the National Textile Council of China, Wu Wenying, and Jesus Perez, Light Industry minister of Cuba, on April 29 signed an agreement on cooperation and exchange of textile know-how. The document states that, among the areas of bilateral cooperation, there will be the ...
COMPUTERS FOR PRIMARY EDUCATION.
Jun 01, 1996 ... Government has obtained a loan (No. 708/OC-BA) from the Inter-American Development Bank (IDB) to improve the quality of primary education. Part of the proceeds will be used for the procurement of computer hardware and software. Bids are due July 10, 1996. Details: Project ...
CONTAINER PORT CONSTRUCTION.
Jun 01, 1996 ... Evergreen, the Taiwanese corporation, has begun construction of a US$100 million container port on a 20-hectare site at Coco Solo, Colon. Some 120 families living on the site are being relocated by the Interoceanic Region ...
DEREGULATION OF ELECTRICITY SUBSECTOR.
Jun 01, 1996 ... The Congressional Energy Committee has presented a bill to the full Congress which would deregulate the electric subsector. The Committee combined two proposals which were submitted during the previous Congress while the current Minister of Energy was Committee chairman. The proposal would ...
DISCOUNT BROKER EXPANDS.
Jun 01, 1996 ... Charles Schwab & Co., the large U.S. discount broker, which opened its San Juan office in May 1994, has opened a second office, in Mayaguez, to serve clients in the western region. Schwab now serves ...
DISEASE-RESISTANT BANANA.
Jun 01, 1996 ... A new variety of banana, which is thought to be resistant to the Sigatoka disease that has been affecting the Caribbean industry, has been developed by Jamaican agriculturalist Ren Gonzalves, working at the research station at Bodles, Old Harbour. The new ...
DOMINICAN ELECTIONS.
Jun 01, 1996 ... The Dominican Republic held presidential elections on May 16, as this issue went to press. Various polls prior to the balloting offered contradictory results. All the polls showed Jacinto Peynado of the governing Partido Reformista Social Cristiano (PRSC) a distant third. The two leading ...
DORADO DEL MAR SOLD.
Jun 01, 1996 ... The Dorado del Mar Hotel, owned by Venezuelan businessman-senator Rafael Tudela, is being sold for US$12 million to the local development firm Empreseas Sadurni, headed by Domingo Sadurni. Tudela says he has tried for the past eight years to develop the property, which includes 150 acres of ...
DRY SEASON THREATENS HOTELS.
Jun 01, 1996 ... Two of Grenada's largest hotels (the 212-room Rex Grenadian and the 186-room Grenada Renaissance) in late April threatened to close down because of water scarcity caused by very low rainfall in March. The National Water and Sewerage Authority (NAWASA) was sending truck loads of the water to ...
DUTCH WARNING ON FINANCES.
Jun 01, 1996 ... The Netherlands Antilles and Aruba "must restore their financial situation as soon as possible," Minister Voorhoeve of Antillean and Aruban Affairs stated on April 17, according to the Rotterdam daily Algemeen Dagblad. The said the Netherlands Antilles have a debt of 3.5 billion guilders; ...
ECOTOURISM PROJECT.
Jun 01, 1996 ... Governments invites prequalification data (by June 28, 1996) from contractors and/or joint ventures interested in bidding on the proposed Ecotourism Project- Dominica, to be partly funded by a loan from the Caribbean Development Bank (CDB). The project, to be implemented over a ...
ELECTRIC DEVELOPMENT PROGRAM.
Jun 01, 1996 ... The Costa Rican Power Institute (ICE) is inviting consulting firms to prequalify (by July 12, 1996) to assist its staff in the fields of maintenance of power generating plants and maintenance of transmission systems ....
ELECTRICITY RATE INCREASE?
Jun 01, 1996 ... Losses for the electrical distribution company (EEGSA) in 1995 are reported to exceed Q50 million, and losses in 1996 are projected to be Q203 million. While acknowledging that a rate increase could be a financial burden for consumers, the electrical workers' union stated that, given the ...
EMERY EXPANDS TO AGUADILLA.
Jun 01, 1996 ... Emery Worldwide later this year will open an Aguadilla service center that will cater to the shipping needs of businesses in Aguadilla and Mayaguez, says general manager George Nixon ....
EU GOES AFTER US-CUBA EMBARGO.
Jun 01, 1996 ... The European Union said April 30 it has decided to file a complaint in the World Trade Organization over new U.S. legislation strengthening the 34-year-old Cuban embargo. The Helms-Burton Act strengthened the Cuban embargo by allowing Americans to sue foreign firms profiting from property ...
EXPLORING COSTA RICA: 1996
Jun 01, 1996 ... 1996 is a 270-page tourism guidebook which also includes information on nearby Nicaragua and Panama. Offers data on getting there, lodgings, night life, national parks, shopping, water sports, fishing, ...
FIBER OPTIC CONTRACT.
Jun 01, 1996 ... AT&T has been awarded a US$20 million contract to design, engineer and install a 470-kilometer undersea fiber optic telecommunications system between Florida and the Bahamas. The system, Bahamas II, will link New Providence in the Bahamas to Vero Beach, ...
FINANCE MODERNIZATION CONTINUES.
Jun 01, 1996 ... Finance Minister Brian Kuei Tung, speaking recently at the opening of the Caribbean Centre for Monetary Studies at the University of the West Indies, promised that by year-end the Mutual Funds Act, Companies Act, Venture Capital Regime, Securities and Exchange Commission, and Investment ...
FIRM SHUTS DOWN.
Jun 01, 1996 ... Property Management Caribbean, a U.S. Virgin Islands management company, has ceased operations due to a loss of nearly half of its 250-unit inventory following Hurricane Marilyn.* Aruba(florin)-- 1.79 b* Barbados(dollar)--2.0113 b* Bahamas(dollar)--1.00 b ...
FISHERIES GRANT.
Jun 01, 1996 ... FISHERIES GRANT. The Government of Japan has extended a grant of 570 million yen (about EC$15 million) for Phase III of a coastal fisheries construction project in the capital, Roseau, to ...
FOOD PROCESSING EQUIPMENT PURCHASE.
Jun 01, 1996 ... Hi-tech Buildings Ltd., the builder/dealer for Astron Building Systems of Luxembourg, a subsidiary of the U.S. firm Commercial Intertech Corp., is looking for manufacturers/suppliers of food processing, packaging and related equipment and machinery. High-tech Buildings is in the ...
FRANCE'S CHIRAC TO CO-CHAIR PANAMA CANAL CONFERENCE.
Jun 01, 1996 ... French President Jacques Chirac on April 15 accepted an invitation from his Panamanian counterpart, Ernesto Perez Balladares, to serve as co-chairman of a 1997 conference on the future of the Panama Canal. Balladares met Chirac for lunch at the Elysee Palace on the second day of a four-day ...
FREE ZONE STAGNATION.
Jun 01, 1996 ... Investment in local industrial free zones has stagnated due to a lack of parity with Mexico (under the North American Free Trade Agreement) and the electricity shortage, says Carlos Manuel Alvarez, president of the Dominican ...
FURNITURE IMPORT REGS.
Jun 01, 1996 ... The Jamaica Bureau of Standards (JBS) is stepping up its monitoring of various items traded in the Jamaican market. Recently, it was announced that the furniture industry would be targeted to ensure that certain standards are met. In order to provide information on the new requirements, ...
GERMANY-CUBA INVESTMENT ACCORD.
Jun 01, 1996 ... German Vice Minister of Economy Heinrich Kolb and Cuban Minister for Foreign Economic Cooperation recently signed an investment protection and promotion agreement; Cuba has signed 16 such agreements to date, ...
GOLD MINING INVESTMENT.
Jun 01, 1996 ... Canada's KWG Resources says that it will invest US$7.5 million in gold exploration. KWG follows other Canadian mining firms (Joutel, MacDonalds Mines, Caribgold ...
GROWTH IN TOURISM ARRIVALS.
Jun 01, 1996 ... By the end of March, the Cayman Islands had welcomed 107,535 stayover visitors, up 7% from the first quarter of 1995, says Thomas Jefferson, Minister for Tourism, Aviation & Commerce. The data ...
GUYANA AIRWAYS PACKAGES TO CURACAO.
Jun 01, 1996 ... Guyana Airways and Friendly Holidays have teamed up to offer vacation packages to a range of hotels on Curacao. Packages begin at US$523 for three nights/four days and include roundtrip airfare from JFK to Curacao, double-occupancy at one of seven ...
HOLLAND-CUBA TRADE UP 40%.
Jun 01, 1996 ... Holland's Ambassador to Cuba, Eldred G. Maduro, says that trade between the two countries increased by 40% in 1995 to US$246 million. Cuba exported citrus, nickel, tobacco and other products, and ...
HOTEL CONSTRUCTION BOOM.
Jun 01, 1996 ... Fifteen new hotels are under construction in Guatemala, and other first class hotels are being remodeled in anticipation of a boom in tourism following the signing of the peace accords. In 1995, over 563,000 tourists visited Guatemala. The Government expects the number to continue to ...
HOTEL PROJECT SUSPENDED.
Jun 01, 1996 ... A major hotel project, backed mostly by Taiwanese investors through an escrow account under Dominica's Economic Citizenship Program, has been suspended because the promoters, Hotel Development and Management Ltd., said it is receiving bad publicity in Taiwan. But Prime Minister Edison James, ...
IDB LOAN PIPELINE.
Jun 01, 1996 ... The American Embassy in Panama City has issued the following report on current and pending projects to be financed with loans from the Inter-American Development Bank (IDB), which offer opportunities for trade and investment:1. Agricultural modernization program. The objective of ...
An importer seeks breakfast cereals
Jun 01, 1996 ... An importer seeks breakfast cereals (80 cases monthly). And: chocolate, unsweetened, blocks (60 cases monthly). And: corn, sweet, canned (25 cases monthly). And: fruit, dried (1 container monthly). And: fruit, tropical, canned (pear halves, peach halves). And: health food, prepared (60 cases ...
An importer seeks dried red kidney beans
Jun 01, 1996 ... An importer seeks dried red kidney beans, broad beans, in 100 lb bags (containerload monthly). And: canned pineapple slices (20 oz tins, containerload, delivery in September/October). Bank ref: Bank of Novascotia, Scotia Centre, Duke St & Pt. Royal Streets, Kingston, ...
IMPROVEMENT OF EDUCATION.
Jun 01, 1996 ... Government has received a loan (No. 848/OC-BH) from the Inter-American Development Bank (IDB) for a Program for the Improvement of Primary and Secondary Education. Part of the proceeds will be used to hire consultants in various specialties, including reading, general curriculum, modern ...
INFLATION AT 3.6% FOR JANUARY-APRIL.
Jun 01, 1996 ... Accumulated inflation for the first four months of 1996 was 3.65%, well below the 7.21% rate for the same period in 1995, says Vice Minister of Economy Geovanny Castillo. The inflation figure does not take into effect an 8% ...