Caribbean Business Report for 13th Feb 2012


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Caribbean Business Report for 13th Feb 2012

  1. 1. Issue 164 Call us at Caribbean Business Report (453-2418, 485-3363) February 13, 2012 Benefits START paving their Minimum Opening Balance $100 Minimum Term 3 years Maximum path to lifelong Term 15 years Interest Rate Guaranteed; 1.00% above the regular savings rate Low risk as returns are fully success with Contributor: Anyone 18 years or over guaranteed by Bank of Saint Lucia A SUBSIDIARY OFTask Force to look into “Ease of Doing Business” ➤ Task Force to look into “Ease of Doing Business” in St. Luciain St. Lucia ➤ Grenada Gets Top Rank for Investment Promotion Government and the Chamber of Commerce have appointed a Task Force to study the “Ease of Doing Business” in St. Lucia. The Task ➤ First Citizens holds Global Market Force is headed by retired Justice of Appeal, Hon. Justice Michael Outlook seminar Thursday Gordon and comprises Mr. Gerard Bergasse, the President of the Chamber of Commerce and Mr. Richard Peterkin, Tax and Corporate ➤ Safety at work to become priority of participants Services Partner at Price Waterhouse and Coopers. ➤ Details of Quality Awards to be The three member task force will first review the World Bank Report provided on Tuesday on the “Ease of Doing Business in Saint Lucia” and consequently identify laws, policies and procedures which currently encumber the ➤ Civil Service Credit Union holdsbusiness process. St. Lucia slipped from 27 to 52 over the past five years, but remains number one in the visioning exercise FridayCaribbean in the World Bank’s ranking. ➤ Floral Society holds first-everThe Task force is expected to present a preliminary report by March 15, 2012, for review and consideration Valentine’s Day Marketby both parties. ➤ Caribbean Airlines has begun its St. Lucia serviceGrenada Gets Top Rank for Investment Promotion ➤ Former Labour Commissioner to be honored on Thursday Grenada’s Industrial Development Corporation has been ➤ Fuel increases in effect from today. ranked first among 77 investment promotion institutions in No increase on LPG. Africa, Caribbean and the Pacific. This is according to the Global Investment Promotion Benchmarking 2012 report, a ➤ OGM Communications wins joint effort by the World Bank Group. Independence logo competition The country’s GDIC was ranked ahead of Trinidad and ➤ Fraud detection seminar to be held Tobago and Jamaica, which finished second and third, here end of February respectively; the country’s overall rank was 26th worldwide. The report said that, despite having a team of only fivepeople, the GIDC focused on “speed and teamwork.” ➤ 1st National management training to improve performanceIt pointed to Grenada’s high-speed approach, which focuses on quick responses to inquiries. In 2009, forexample, a St Lucian manufacturer was looking to get a facility up and running by the end of the year. ➤ No protection for businesses over influx of Chinese“In eight months, GDIC took the company from initial inquiry to operations, getting factory space built, licensesissues and workers hired,” the report said. ➤ Lucian Aid and LIME cleanup PraslinThe investment brought $5 million in capital investment to the economy, or about 0.5 percent of Grenada’s beachGDP that year. » Headlines Source – Caribbean Journal CTV News nightly at 8:00 with Kirby Allain LIME ch 44 ; Karib Cable ch 54
  2. 2. Safety at work to become priority of participants Participants of a just concluded First Citizens holds weeklong course on Occupational Health and Safety say they are Global Market Outlook committed to ensuring that closer attention is paid to the issue of safety at seminar Thursday the workplace. The five day workshop First Citizens Investment Services will host its organised by the St. Lucia Employers Federation with funding from the sixth annual Global Market Outlook 2012 Ministry of Labour in Canada focused seminar on Thursday 16th February, 2012 from strongly on the need for greater 9am to 11am at the Bay Gardens Beach Resort, inspection of workplaces. Rodney Bay. Participants and course facilitators This seminar will provide an economic overview Participants of Occupational Safety and Health course agreed that many accidents can be for the local, regional and international prevented if causes of accidents and economies, as well as, explore expectationspotential hazards can be spotted early and corrected. The lack of inspectors in St. Lucia and some and projections for 2012 with valuable insightsOECS states was a major cause for concern and there was sentiment expressed that this be addressedwith some urgency. into key performance indicators. Key issues to be addressed include the GlobalAlso identified was the need to pay closer attention to proposed legislation and the International Labour and Regional Economic Overview, InternationalOrganisation [ILO] Conventions relating to Occupational Health and Safety. The ILO Conventions have Market, Fixed income Market, Regional stocknot been ratified in some jurisdictions in the Caribbean but in the case of St. Lucia most of the provisions Markets, ECSE stock market, Brief review ofare included in the St. Lucia Labour Code, still a source of contention in some quarters. 2011, and Projections for 2012.Thirty-three participants representing Employers Federations in the OECS, the relevant Government Registration is FREE. To obtain more informationMinistries and private sector organisations are now expected to train other trainers and embark onpublic awareness activities on Occupational Health and Safety. The two facilitators were Occupational and register for this seminar contact FirstHealth and Safety Experts out of Canada both with over 30 years experience. Citizens Investment Services at 450 2662 or email seminars@firstcitizensslu.comCivil Service Credit Union holds visioning exercise Friday The St. Lucia Civil Service Cooperative Credit Union will hold a visioning symposium on Friday to chart its future direction. The objective is to better position the financial institution to respond to the needs of its members and to become a major player in the financial services sector. Credit Union members are being invited to submit comments, Ralph Wharton - GM Caribbean observations and suggestions prior to the symposium for Federation of Credit Unions consideration by a panel of specially invited experts andrepresentatives of business organisations. Submissions can be emailed at symposium@cscreditunion.orgPrime Minister Dr. Kenny Anthony is expected to address the symposium.Among the presenters are Mr. Francis Fontenelle who will speak on the “Current MacroeconomicEnvironment with focus on the financial sector and possible opportunities for Credit Unions” and Mr.Melvin Edwards will speak on “The Harmonised Cooperative Societies Act and New Ways of DoingBusiness”. Mr. Ralph Wharton the General Manager of the Caribbean Confederation of Credit Unionswill make a presentation on “Growth and Sustainability for Credit Unions in the Current EconomicEnvironment”.There will be an open discussion forum at the end of the presentations and submissions.
  3. 3. Details of Quality Awards to be provided on Tuesday The St. Lucia Manufacturers Association (SMA) will be holding a Caribbean Airlines has Press Conference on Tuesday, February 14th, 2012 at 9.00 am at the Office of the St. Lucia Bureau of Standards, Bisee, Castries, begun its St. Lucia to officially announce details of its Quality Awards Ceremony, the service Sponsors for this event, and the Selection Committee established for determining Awardees. The SMA Quality Awards Programme is the first of its kind to beheld in St. Lucia, as it is based on a rigorous third party assessment of companies against internationallyrecognized standards developed in conjunction with the Saint Lucia Bureau of Standards. TheProgramme has been designed to drive excellence and quality improvement in the ManufacturingSector. Caribbean Airlines at George F. L. Charles AirportThe Selection Committee comprises of reputable persons both locally and regionally, in the field Caribbean Airlines has officially commencedof business and quality standards. The criteria for judging is linked to categories of Leadership, service to St. Lucia providing travelers with aImplementation of Standards and Best practices, Product and Customer Service Quality, Marketing choice of carriers on the Trinidad Route. ThisStrategies, Human Resource Development and Social Responsibility. is a non-stop daily service from Port-of-Spain Trinidad to the George F. L. Charles airport. AThe Quality Awards Programme will culminate in the Awards Ceremony to be held on Saturday, March short welcoming ceremony was held just after3rd at 7.00 pm at Sandals Halcyon Hotel. touchdown.Calabash TV will on Thursday air excerpts of the launch of the SMA Quality Awards and the PressConference on Thursday after the CTV News which airs at 8:00pm on Channel 44 on LIME Digital and Caribbean Airlines says there are plans to offer aChannel 54 on Karib Cable. service out of Hewanorra International Airport to destinations further north and North America. The George FL Charles service provides connections to Caracas, Suriname, Guyana and Tobago. A service to London is expected in the second quarter of the year.Floral Society holds first-ever Valentine’s Day Market The welcoming ceremony also included the The St. Lucia Floral Cooperative Society has begun a series presentation of a special gift to the Director of of initiatives aimed at promoting greater use of local flowers Tourism Louis Lewis. Mr. Lewis says the non-stop especially during high profile events. On Saturday members flight from Port-of-Spain will help boost arrivals of the Society held a Valentine’s Day Market outside its offices from Trinidad, St. Lucia’s 3rd largest market in the along the Vibe Bouteille Highway. The office is located in the region. He notes that this new service will help “Skeete” building next to Renwick and Company. strengthen and deepen regional integration. The society is hoping to position its members for greater Ms. Margaret Anne Xavier, the Head of Product advantage of special events such as Valentine’s Day, Mother’s Development in the Ministry of Tourism says this Day, weddings, corporate events and the cruise-ship season. new service will not only strengthen business links between the two islands but also assist St. Lucian A valentine’s gift store [Mind, Body and Soul] managed by students at universities in Trinidad. Cheryl Skeete and members of the Creative Development Ms. Xavier who deputized for the Minister of Network also participated in the Valentine’s Day Market. Tourism says the partnership with Caribbean Airlines was a strategic one that will benefit in Florists and cut-flower growers are looking for a spike in sales many ways. Happy customers at the Valentine’s Caribbean Airlines leaves Trinidad at 1:45pm and Day Market for Valentine’s Day. arrives at 2:50pm and departs for Trinidad at 3:25 daily.Calabash TV will soon commence a series of television reports and discussion programmes taking acloser look at the cut-flower industry. On Tuesday night in our Inside Edition series following CTV Newsat 8:00, Calabash TV Bernard Fanis will speak with the President of the Floral Society and the PeaceCorps Volunteer who initiated the Valentine’s Day Market.
  4. 4. SERVICES * Sale and Services of: * Sale of: SERVICES J.E.B Bldg, Vide Bouteille, P.O. Box 102, Castries, Saint Lucia Tel: (758) 456-6500, Fax: (758) 456-6508 Email: * Website: * Technical Service and MaintenanceOGM Communications wins Independence logocompetition Fuel increases in effect OGM Communications Ltd. (St. Lucia) are celebrating yet another logo design award, from today. No increase this time it’s for the 33rd Anniversary of on LPG. Independence logo, an award they previously won to celebrate 30 years of independence back in 2009. This year, OGM’s design theme of was titled ‘Evolution’ which OGM knows much about in their four years of operation in Saint Lucia. “We’re over the moon to win an award which celebrates such a milestone in Saint Lucia’s history,” said OGM’s General Manager Anicia Fowell. “This is our second logo design award this year as we were also responsible for the The Government has put out a release noting winning design for the 2011 Saint Lucia Business that as a result of the increases in international Trust logo.” oil prices in recent times, the prices of fuel in Saint Lucia will be adjusted effective, Monday, OGM’s interpretation of the ‘Evolution’ theme February 13, 2012 as follows: is that the logo suggests motivation to move • Gasoline: from $3.22 to $3.30 per litre; forward and upward. Encouraging movement • Diesel: from $3.31 to $3.37 per liter. and personal advancement through small beginnings is seen in a fully formed abstract • The price of kerosene will remain hand. The outstretched hand reaching for the unchanged at $6.00 a gallon. star illustrates a drive for greatness whilst the theme of ‘One People, One Nation, Limitless The increases will only affect fuel. The Possibilities’ unites the abstract with the Government of Saint Lucia has decided to achieveable. maintain the existing prices on the 100 and 20 pound cylinders of LPG. However, rather than pass on the full impact of the price increases to consumers, Government has decided to absorb half ofFraud detection seminar to be held here end of the increase in fuel prices and to pass the other half on to consumers. The implicationFebruary of this decision is a further reduction in the level of excise tax on gasoline and diesel andThe Caribbean Business Report understands that Certified Information Security has confirmed an increase in the subsidy on the 20-poundthe facilitation of a Fraud Detection and Investigation Seminar at the Bay Gardens Beach Resort from cylinder LPG. It should be noted that theFebruary 27 to March 02, 2012. subsidy on the 20-pound LPG is now $17.06 a cylinder which is higher than the cap ofThis seminar has not been held in Saint Lucia since 2005 and may not be held for the next two years. $15.00 which was established in the 2011/12This provides an opportunity to be part of a seminar that is vital to helping companies guard against fraud perpetrated by employees. A full statement on the future of the “passFraud has serious financial implications for businesses and its early detection can save time and through” mechanism will be made in themoney. Budget Statement of 2012/2013.Interested persons are asked to take advantage of this opportunity here as other courses involvetraveling to Trinidad, Jamaica or New York.Registration closes on February 23rd, 2012.
  5. 5. 1st National management training to improve Former Labour Commissionerperformance to be honored on Thursday 1st National Bank is getting their management team reacquainted with ways of improving their modes The National Workers Union (NWU) at its Industrial of operation at a seminar hosted by a strategic Forum on Thursday, February 16, 2012 at the management consultant. Conference Room of the Royal Saint Lucian Hotel will be paying tribute to a major contributor to Last week managers were hard at work learning new skills in working more effectively from a management industrial relations practice in Saint Lucia. consultant company. This is not the first time that Strategic Alignment Limited has conducted training Mr. DON PATRICK HEDWEIGE ROSEMOND, a seminars for the staff of 1st National Bank. Simply put, former top civil servant, currently on retirement, SAL helps companies, organisations and agencies like will be recognized and honoured by the National 1st National, improve their management performance. Workers Union (NWU). This will take place at a Hotel and Tourism Workers Forum to be held byThe training is hands-on and allows the bank’s employees a real-time opportunity to document and the National Workers Union where twenty-eightmeasure how they are adding and creating value based on more efficient performance. As an indigenous (28) participants will be in attendance.organisation, the benefits to 1st National Bank’s stakeholders are tremendous.Robert Winter Managing Director of SAL says they return regularly to 1st National Bank to reinforceand update the principles of more effective operations to the employees who in turn will pass them on Mr. Rosemond, while in the Civil Service, servedto line staff to streamline functions. in the capacity of Labour Commissioner from 1970 to 1987. It could be said that during his employment at the Ministry of Labour, he stood as the custodian of industrial relations, with hisNo protection for businesses over influx of Chinese guidance being effectively utilized at the domestic, conciliatory, mediation and tribunal stages.The Gleaner newspaper in Jamaica is reporting that External Affairs Minister Alva Baptiste has saidthat his government would help local entrepreneurs become more competitive rather than give them The hallmark of his contribution was his six (6)protection against Chinese investors. months stint with Professor John Cronin, a labour lawyer attached to the International LabourThe minister also dismissed a recommendation from the small businesses that Castries should factor Organisation (ILO), then on assignment to Saintin competition from Chinese businesses as it reaches a decision on whether to re-establish ties with Lucia. Mr. Rosemond was also at the centre ofBeijing. Saint Lucia’s industrial unrest with strikes and demonstrations by farm labourers out of Mabouya,Mr. Baptiste contends that St Lucia and the OECS should always forge relations with other countries Cul de Sac and Roseau Valleys.on the basis of fuelling a development agenda.The head of the St Lucia manufacturers’ group, Paula Calderon claims that in recent years there hasbeen a sharp increase in the number of Chinese nationals setting up shop in St Lucia and the OECS.Calderon added: “We know, for instance, that in Dominica passports can be purchased by the Chineseto allow them to come in and invest but once that has been done, they automatically have access tothe other OECS markets.” Source – Jamaica GleanerLucian Aid and LIME cleanup Praslin beach If you have missed the nightly CTV News The Praslin Beach has been brought back to which airs at 8:00, then visit the Calabash TV a pristine condition thanks to the Lucian Aid YouTube page Foundation who worked together with LIME and residents from the Praslin community to clean for reports and special features. The Calabash up the beach on Sunday, 5 February. TV website is under construction but this copy The Lucian Aid Foundation is a non-profit of the Caribbean Business Report can be organization based in Praslin. It’s comprised of accessed at volunteers from around the island who undertakea variety of community projects aimed at poverty alleviation, crime reduction through youth interactionand adult education, and fostering development through community service.On Sunday, dozens of LIME staff led by General Manager, Lawrence McNaughton turned out to supportthe beach cleanup. They included members of the LIME Sports Club, colleagues from Telesales, theLIME Blue Coral retail store, LIME Vieux Fort and the company’s management team, all of whom weremore than happy to lend a helping hand.