Connect with us

News

Banana Production To Be Increased

Published

on

MONTEGO BAY, Feb. 19 (JIS): Agriculture, Labour and Social Security Minister, Hon. Derrick Kellier, says major developments are to take place shortly in the Jamaica banana industry, with an emphasis on production for the export market.

Addressing the opening of the Hague Agricultural and Livestock Show in Falmouth, Trelawny, on February 18, Mr. Kellier said the developments would include putting more lands into banana cultivation, in order to take advantage of a thriving market in the United Kingdom.

Mr. Kellier said while on a recent visit to the United Kingdom, discussions were held with major stakeholders with a view of getting more Jamaican produce, mainly ripe and green bananas, into that market.

“I can report very good news. Coming out of our trip to England, there are expressions of interest from three major importers of bananas, ripe and green, to which we have started to respond,” the Minister said.

He added that emphasis will be placed on getting more idle lands into banana production, with over 381 hectares of land being targeted.

“We will provide input assistance through the All Island Banana Growers Association (AIBGA) from a special credit scheme. The Banana Board will be intensifying its programme geared towards training farmers to increase their traceability and certification standards in the 2015/16 fiscal year,” the Minister said.

He noted that St. Mary is currently Jamaica’s leading banana-producing parish, and that efforts will be made to bring sections of western Jamaica back into banana production.
“We urge farmers to be a part of this development and to work with us to ensure that we have the productive capacity and the output to serve these markets that are emerging,” he told the gathering.

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

Continue Reading

News

UK Prime Minister Liz Truss forced to break tax cut promise

Published

on

By Dana Malcolm

Staff Writer

 

#UnitedKingdom, October 6, 2022 – A month into her tenure as Liz Truss, UK Prime Minister is going back on one of her biggest campaign promises to cut taxes for certain British citizens.

The tax cut in question had been part of the PMs signature campaign to ease the economic burden in the UK and one that she and former Finance Minister and candidate for Prime Minister Rishi Sunak had repeatedly clashed about. It would have seen the top earners, meaning anyone bringing in over £150 thousand a year, pay less money to the government.

Unfortunately the plan rocked Britain’s economy pushing the pound on par with the US dollar for the first time in years.

It is an economic blow, and at a time when families are already struggling with incredibly high energy bills and inflation. The money to find these tax cuts would have been borrowed an idea that her own party signaled it would vote against.  In addition to the economic impacts British citizens had also been strongly opposed to that facet of the economic plans.

In letting go of the tax cut, Truss said, “We get it and we have listened” the admission coming days after she defended it to the public.

Still there are parts of the larger package that will still go on which will afford tax cuts to lower income families and put a cap on energy costs.

Continue Reading

Bahamas News

Regressive recession looming, forces UN to issue Cease and Desist message to ‘big’ countries

Published

on

By Dana Malcolm

Staff Writer

 

October 6, 2022 – Central Banks in advanced nations must stop pushing up interest rates now or risk sending the globe into recession where developing nations suffer most according to the UN.

In the last several months, The U.S. Federal Reserve, the Bank of England and Bank of Canada have all spiked interest rates in an effort to control borrowing power, buying power and possibly push down inflation

A new report from the United Nations Conference on Trade and Development is warning them to cease and desist.

“The world is headed towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies.”  It said, mincing no words, the agency described the potential global recession as ‘policy induced’ by developed countries.   And this recession could be worse than the 2008 crisis.  This is especially true for developing countries like those in the Caribbean.

“While all regions will be affected, alarm bells are ringing most for developing countries, many of which are edging closer to debt default.” The agency said.

And if it happens the recession could set developing nations back years in the struggle to increase their standards of living.

“As climate stress intensifies, so do losses and damage inside vulnerable economies that lack the fiscal space to deal with disasters let alone invest in their own long-term development— The global slowdown will further expose developing countries to a cascade of debt, health, and climate crises.”

If the globe proceeds as is the world will lose 20 percent of its income by and push developing economies growth rate below 3 percent which the UN says  is ‘insufficient for sustainable development’

Continue Reading

Caribbean News

Inaugural FinTech Conference on now in Barbados

Published

on

By Sherrica Thompson

Staff Writer

 

#Barbados, October 6, 2022 – Barbados is now hosting the first-ever global fintech conference in the Caribbean.

Over 300 delegates from across the globe and varying sectors within the industry will be attending the event. It began on Wednesday October 5, concluding October  7 and is being staged at the Hilton Barbados.

The Fintech Islands conference will feature renowned fintech leaders delivering key addresses and over 20 hours of curated content. The mandate of the event is to create a world-class event that will be a catalyst for the growth of the fintech ecosystem in the Caribbean.

One major highlight of the conference will be the welcome address by the Prime Minister of Barbados, Mia Mottley, who will also host an exclusive VIP meet and greet.

Some of the major themes of the event that are relevant to the context of the Caribbean venue are Financial Inclusion, Climate Fintech, Cryptocurrencies and Decentralised Finance and Embedded and Open Finance.

The event will have a range of speakers from founders, CEOs and fintech leaders from North America, Latin America (LATAM), Europe and Africa.

Continue Reading

FIND US ON FACEBOOK

TRENDING