Investments

Nevis, West Indies Poised To Take Off Economically

Environmental Awareness Programme Participants

Environmental Awareness Program Participants

Charlestown, Nevis
July 14, 2008

“Today we stand on the threshold of a new era in our development.  Many exciting things are about to happen.  Economically, the island is poised to take off.  We the citizens must be prepared for the opportunities and challenges which will present themselves.  What better preparation can there be than that of our youths being afforded the opportunity to be involved in the research, analysis and discussion of the theme for this year’s library programme” Permanent Secretary in the Ministry of Education and Library Services Mr. Joseph Wiltshire said.

This came at the closing ceremony of the first session of the 2008 Summer Environmental Awareness Programme on July 11, 2008 at the St. Georges Branch Library.

The session featured high school students from across the island which was held from July 07 to 11 at the St. George’s Branch Library at Croney’s House in Gingerland under the theme “Our Country our people our future”. The sub theme was “Reminiscing the past, relishing the present, charting the way forward”.

Mr. Wiltshire also spoke of the Library’s dedication to the initiative over the years and commended the staff for their efforts.

“I wish to commend the entire staff of our library services for their continued involvement in the development of our most important resource-our people.  Year after year the library continues to provide meaningful activities for the nation’s youth and this year is no exception.

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TDC Makes EC$15.3 Million In Pre-Tax Profit In 2007

TDC Corporate Offices - Basseterre, Saint Kitts

TDC Corporate Offices – Basseterre, Saint Kitts
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
July 09, 2008 (CUOPM)

The St. Kitts-Nevis-Anguilla Trading and Development Company (TDC) Group of Companies is reporting a pre-tax profit of EC$15.3 million in 2007, compared to EC$12.3 million the previous year.

The pre-tax profit of EC$15,366,989 is the biggest ever in the company’s 35th year of operations.

TDC said that after paying Corporation Tax of EC$4,822,299 and other interests, its profit is EC$10,544,690 compared to EC$7,946,040 in the previous year.

The report documented improved performance in several areas including the Automotive Divisions, Home and Building Depots, the Shipping Agencies, TDC Rentals in St. Kitts and TDC Rentals (Nevis), the St. Kitts and Nevis Finance Company Ltd. (FINCO), the St. Kitts-Nevis Insurance Company (SNIC) , Ocean Terrace Inn (OTI), St. Kitts Masonry Products Limited and MAICO, its associated insurance company in Anguilla.

TDC is attributing its success to a buoyant St. Kitts and Nevis economy as a result of preparations for the ICC Cricket World Cup and several tourism related projects, the construction industry remained very strong throughout the year. TDC noted that under the St. Kitts-Nevis Labour Party Administration of Prime Minister Hon. Dr. Denzil L. Douglas, the tourism sector continued to experience steady expansion.

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Cable and Wirless Investments Pay Off

PM Douglas Speaks To Women

PM Douglas Speaks To Women In Labour Party
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
May 27, 2008 (CUOPM)

Former female sugar workers have been praised for purchasing government shares in Cable and Wireless (St. Kitts and Nevis) Limited and investing in Treasury Bills.

Addressing women attending a Labour Women Conference at the St. Kitts Marriott Resort last Saturday, Prime Minister Hon. Dr. Denzil L. Douglas challenged the women to mould their children into productive citizens in the twin-island Federation.

Dr. Douglas, who is also the National Political Leader of the governing St. Kitts – Nevis Labour Party said scores of women in the Federation were recently challenged by the closure of the centuries-old sugar industry and are now active participants in the creation and expansion of the new economy.

He said former sugar workers have now become small crop, vegetable and livestock farmers and owners of small businesses.

Dr. Douglas praised those women who rejected the advice of the current political leader of the People’s Action Movement (PAM) Mr. Lindsay Grant, who told them not to let the Labour Administration tell them how to spend their redundancy money from the closure of the sugar industry.

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Saint Kitts – Nevis Youth Urged To Seek Help From SKIPA

St. Kitts - Nevis - Prime Minister Douglas

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

Basseterre, Saint Kitts – Nevis
May 26, 2008 (CUOPM)

Young people in St. Kitts and Nevis have been urged to seek the help and assistance that they require from the newly-created St. Kitts Investment Promotion Agency and the new National Entrepreneurial Development Division to establish businesses.

Prime Minister and Minster of Finance, Hon. Dr. Denzil L. Douglas said substantial debt has been incurred with the closure of the sugar industry to create a new national economy based on tourism and hospitality services, information, telecommunications and technology services and financial services.

“They must get adequate access to the ever-expanding financial resources of our financial institutions to finance their mortgages, education, business ventures and other personal projects of interest to them. They must share in the vast amount of foreign exchange earnings that is generated from the unprecedented number of cruise ship and stay-over visitors that now come to our shores,” said Dr. Douglas.

He said that St. Kitts and Nevis must embrace the youths by not only showing them love, but by giving them the guidance they need to reach out and grasp their share of the abundance of opportunities that are being created in the twin-island Federation.

Dr. Douglas said that the Federation could not have made the massive strides in the creation of the new economy without incurring debt.

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St. Kitts – Nevis Consuming More Local Food Items

St. Kitts - Nevis Fish Processing Plant

St. Kitts – Nevis Fish Processing Business
Photo By Erasmus Williams

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

St. Kitts and Nevis says that the long-term solution to food security and increasing food prices in the twin-island federation as a result of global food price crisis, is not price control or even reduced consumption taxes.

“If we are to attain food security and to protect ourselves from escalating food prices in international markets, we must produce and consume more local agricultural products. In fact, I contend that if my Government had not already taken action to increase food production the impact on our Federation of the international food crisis would have been even more severe,” said St. Kitts and Nevis Prime Minister Dr. Denzil L. Douglas.

He said that the global food price crisis that is a major source of worry for policy makers all over the world demonstrates quite clearly that the allocation of resources to the development of the agricultural sector must continue.

“Indeed the Millennium Development Goals established by the International Community for the substantial reduction of poverty in developing countries by 2015 are being placed in jeopardy by the dramatic increases in food prices in recent years,” said Prime Minister Douglas.

He said that the global statistics in respect of food prices are frightening and recalled several measures taken by his Labour Administration to deal with the crisis.

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