Nevis News

Nevis news – local Nevis news, and regional Caribbean news.

St. Kitts – Nevis PM To Go To Mexico For AIDS Conference

St. Kitts - Nevis' Prime Minister - Denzil Douglas

St. Kitts – Nevis’ Prime Minister – Denzil Douglas
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
July 21, 2008 (CUOPM)

St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas will be among world leaders attending the 17th International AIDS Conference in Mexico early next month.

The conference will draw around 25,000 participants from across the globe, including many world-renowned leaders and experts in their field, according to a message received here on Monday.

AIDS 2008 will be officially opened on the evening of August 3 by Mexican President, His Excellency Felipe Caldern Hinojosa.

International Aids Society (IAS), a Geneva-based charity which convenes the AIDS conference said besides Prime Minister Douglas other world personalities include former United States President Bill Clinton, Mexican Secretary of Health Jos, Angel Cordova Villalobos; Secretary-General of the United Nations Ban Ki-moon, Director- General of the World Health Organisation, Margaret Chan; Executive Director of the Joint United Nations Programme on HIV/AIDS Peter Piot; Asian activist and advocate for the rights of HIV-positive women around the world, Mony Pen; former President of Botswana Festus Gontebanye Mogae, and First Vice-President of Spain Mar-a Teresa Fernandez de la Vega.

Former U.S. President Bill Clinton, founder of the William J. Clinton Foundation, will present a keynote at a session titled ‘HIV/AIDS and Health System Reform: Achieving Universal Coverage’ on August 4.

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Monetary Council Maintains Interest & Discount Rates

Eastern Caribbean Central Bank – St. Kitts Photo By Erasmus Williams Basseterre, Saint Kitts – Nevis July 21, 2008 (CUOPM) The Monetary Council of the Eastern Caribbean Central Bank (ECCB) will maintain the institution’s interest and discount rates. A communiqué …

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Eastern Caribbean Economy Expanded Last Year

Sir K. Dwight Venner - ECCB Governor

Sir K. Dwight Venner – ECCB Governor

Basseterre, Saint Kitts – Nevis
July 21, 2008 (CUOPM)

Economic activity in the member territories of the Eastern Caribbean Currency Union (ECCU) is estimated to have expanded five percent last year, but slower growth is expected this year due to slowing global economy and rising food and commodity prices.

Governor of the Eastern Caribbean Central Bank (ECCB) Sir K. Dwight Venner reported at the institution’s 62nd Monetary Council Meeting in Antigua on Friday, that deposits in the banking system expanded by 9.5 percent for the first the first four months of this year, reflecting the relatively strong economic growth experienced during the period.

“Economic activity is estimated to have expanded by 5.2 percent in 2007, following growth of 6.3 percent in the previous year and has continued to expand in the first quarter of 2008,” said a communiqué issued at the end of the meeting.

The Bank’s Governor reported continued robust growth in credit facilitated by more favourable lending terms and conditions from commercial banks, especially for loans to households. For the period, domestic credit increased by 16.9 percent, the bulk of this credit being extended for personal mortgages.

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World Cup Cricket Benefits St. Kitts – Nevis Hotel

Ocean Terrace Inn - St. Kitts - Nevis

Ocean Terrace Inn – St. Kitts – Nevis Hotel

Basseterre, Saint Kitts – Nevis
July 21, 2008 (CUOPM)

Ocean Terrace Inn (OTI) is reporting higher revenues and improved profits in 2007.

The parent company, TDC, which made pre-tax profit of EC$15.3 million in 2007, said OTI, a 71-room and 8 condominium hotel, benefited tremendously from the ICC Cricket World Cup matches that were staged in St. Kitts during that year.

“This along with management’s success at winning’s back former corporate customers resulted in higher revenues and improved profits compared to last year.  Several initiatives were taken that resulted in solid cost saving in other areas despite high maintenance and utilities costs,” said the TDC Group report.

The company said its TDC Airline Services Ltd in St. Kitts made a loss last year following a small profit in 2006. The loss was incurred despite management’s best effort and increased revenues from the Western Union businesses.

TDC Airline Services Nevis Ltd also had a very challenging year in which it again sustained a Net Loss.

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