Nevis News

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

St. Kitts – Nevis Economy Helps S.L. Horsfords’ Growth

Basseterre, Saint Kitts – Nevis
March 13, 2008 (CUOPM)

Another local company is reporting significant improvement in both sales and profitability ““ a sign that the St. Kitts and Nevis economy is moving in the right direction.

Less than a month after the National Bank Group of Companies reported a net profit of EC$81 million in 2007, S.L. Horsford and Company Limited and its Subsidiary Companies disclosed group sales increased nearly EC$13 million and group profit before tax by EC$2.6 million.

Company Chairman, Mr. Anthony Kelsick in his report said Group Sales increased by EC$12,938,803 or 10.90 percent to EC$131,633,983 and Group Profit before taxation by EC$2,697,540 or 35.63 percent to EC$10,269,324.

He added that on an after tax basis, profit increased by EC$1,884,436 or 42.7 percent and earning per share was 21 cents in 2007 as against 15 cents in 2006.

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Nevis Premier To Speak In Miami, Florida

Join the Honourable Premier of Nevis, Hon. Joseph Parry, as he update’s Nationals and Friends of Nevis in Miami, Florida on the Nevis Reformations Party (NRP) led Nevis Island Administration’s progress in office. A PowerPoint Presentation will also be shown …

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Outside Interest In Nevis’ Geothermal Plans

Charlestown, Nevis
March 12, 2008

The buzz about the interest that has been shown in Nevis by other islands, strengthens the hand of the Nevis Island Administration (NIA) and reaffirms the faith that the people of Nevis placed in the NRP Administration to look after the affairs of Nevis.   That was the view of the Junior Minister responsible for Communications, Works and Public Utilities on Nevis Hon. Carlisle Powell during a recent interview with the Department of Information.

Mr. Powell indicated that the United States Virgin Islands (USVI) Saba and Anguilla had showed interest in securing a deal with West Indies Power Nevis Limited (WIP) to purchase power from Nevis when it’s found and harnessed.

He indicated that in light of the mounting interest in the island’s natural resources and the many accolades registered by government officials from neighbouring islands was evidence of the trust placed in the Administration’ vision.

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Nevis Electricity Company Asks For Customers Patience

Charlestown, Nevis
March 11, 2008
General Manager of the Nevis Electricity Company Ltd. (NEVLEC) Mr. Cartwright Farrell said the company’s pursuits of renewable energy in collaboration with the Nevis Island Administration were in keeping with international lending agencies’ directives and urged consumers to be patient with the existing fuel surcharge.
 
Mr. Farrell told the Department of Information on March 11. 2008, that the company had little choice but to continue with the existing fuel surcharge once it continued to use diesel generation. He said once renewable energy came on line in 2009, as expected, the fuel surcharge would be eliminated.
 
“At this moment if we subsidise diesel generation by reducing or capping or eliminating the fuel surcharge while using diesel generation, it is a subsidy that is not against the standards of the world. As it is, the world is asking for us to remove them to allow geothermal, wind, solar and hydro energy all these renewable energies, to be able to compete directly against the established coal fossil fuel and nuclear generation in the world. So that is just the way to go and NEVLEC is just following that path. It is one of the stipulations of the lending agencies [including the World Bank and the] Caribbean Development Bank (CDB) that we follow that path. It is a standard that is being set around the world and we just have to follow.

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CARICOM To Give Special Attention To Tourism And Crime

Basseterre, St. Kitts – Nevis
March 11, 2008 (CUOPM)

Two important issues ““ tourism and crime and security ““ are to get special attention by Caribbean leaders over the next few months.

CARICOM will devote a full day during its regular meeting of Heads of Government in July to focus on Tourism, and has agreed for the first time to make Tourism a standard item on all CARICOM agendas in view of its importance to the economies of the region.

A Special Session of Heads of Government will be held in Trinidad in April of this year to discuss issues of crime and security.

CARICOM Secretary General His Excellency Dr Edwin Carrington, St. Kitts and Nevis Prime Minister Hon. Dr Denzil Douglas, Jamaica Prime Minister, the Most Honourable Bruce Golding, Trinidad and Tobago Prime Minister, Hon. Patrick Manning and Bahamas’ Prime Minister the Right Hon. Hubert Ingraham also took part in the press conference at the end of the 19th Inter-Sessional of the Conference of Caribbean Heads of Government.

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