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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Island Time Villa – Nevis Villa Rentals

Island Time Villa – Nevis Island, West Indies The spectacular Island Time in Nevis is a private villa designed in the traditional West Indian style, now available as an exclusive rental villa. Island Time has a terrace level pool, beautiful …

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Nevis Premier Hosts Cocktail Party For Culturama 2008

Ms. Culturama Contestants 2008

Ms. Culturama Contestants 2008

Charlestown, Nevis
July 18, 2008

Premier of Nevis Hon. Joseph Parry and his wife Mrs. Myrtle Parry, hosted a cocktail party at the Old Manor Hotel on July 17, in honour of the 2008 Culturama participants.

The cocktail featured speeches by Premier Parry, this year’s Chairman of Culturama Mr. Halstead Byron as well as representatives from the various sub committees.

Premier Parry in his presentation offered words of support to the participants but focussed heavily on the issue of deviant behaviour.  He encouraged the public to collaborate with the police and assist them in any way possible.

“Every precaution is being taken to make sure we have good shows.  Every effort is being made by the Police Force on St. Kitts and on Nevis to make sure you are protected.

“The Police is aware of what is taking place.  They have done their homework, they have organised themselves and they are ready for any eventualities,” Minister Parry said.

He appealed to parents to enroll their sons in positive activities in order to avoid them becoming delinquent.

“I am always surprised and I have been surprised for the past two years that we speak of the Juniour Calypso Show, then you see all the girls coming up and hardly any boys and it is a bad message in our community, that more and more the boys are not getting involved in anything positive and constructive.

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