DALLAS, Texas, CMC – The receiver for jailed Texas financier Allen Stanford’s assets has sought approval from a US federal judge for interim payment to swindled investors. In a filing in a federal district court, Ralph Janvey, the court-appointed receiver, asked Judge David Godbey for his permission to pay more than 17,000 investors an initial distribution of US$55 million. If approved, Janvey said investors swindled by Stanford may receive an interim distribution payment worth a penny on the dollar of their losses.
PORT OF SPAIN, Trinidad, CMC – The Congress of the People (COP) party, the second biggest partner in the four-party coalition People’s Partnership government says it is backing Foreign Affairs Minister Winston Dookeran for the post of President of Trinidad and Tobago. Parliament will meet on February 15 to elect a successor to President George Maxwell Richards, who leaves after two five-year terms, and COP leader Prakash Ramadhar said while Dookeran, a former Central Bank governor, has not yet been approached, he would be the party’s nominee if he accepted their nomination.
PORT OF SPAIN, Trinidad - A poll ahead of next Monday’s Tobago House of Assembly (THA) election is predicting a landslide victory for the incumbent People’s National Movement (PNM). The poll, by Nigel Henry and Tarik Parris of the firm Solution by Simulation, was carried out by telephone from January 7-9. It showed the Orville London-led PNM team winning 11 of the 12 seats being contested. And Ashworth Jack, leader of the Tobago Organisation of the People (TOP), has an uphill struggle to retain his seat, figures suggested.
PORT OF SPAIN, Trinidad - Last Tuesday, Trinidad Cement Limited (TCL) announced a rise in price on a standard 42.5 kilogramme bag of cement by 9.5 per cent. The company had warned last July that it would have to review its prices after a 90-day strike by the OWTU meant to shift the company’s position from a wage offer of 6.5 per cent. TCL has been managing weighty losses over the last three years with a loss in 2010 of just over $80 million, a loss in 2011 of more than $130 million.
BRIDGETOWN, Barbados - Things are beginning to look very interesting in the alternative energy sector in Barbados. In recent months we have witnessed an intensification of practical involvement and investment, from both the public and private sectors. There is now better appreciation that we can generate more of our power needs using solar and wind energy. Last week Government took another positive step when it launched the wind energy project at Chance Hall, St Lucy, under the aegis of the Ministry of Transport and Works.
BRIDGETOWN, Barbados - Evidence of Errol Barrow’s influence continues to permeate Barbados and the Caribbean, Prime Minister Freundel Stuart told a thanksgiving service in memory of the Father of Independence yesterday. Speaking at St Christopher’s Anglican Church, Stuart said he and the members of the Democratic Labour Party (DLP), which Barrow co-founded, were “pleased to be his distinguished successors”. Stuart said Barrow lives because the things he stood for were deeply engraved in the hearts of people; and that the things Barrow did were engraved in immortality.
BRIDGETOWN, Barbados - WITH the heightened political activity currently on in Barbados, it seems only a matter of time before Barbadians get to know just when they will be going to the polls to elect a Government of their choice. Both political parties – the ruling Democratic Labour Party and the Opposition Barbados Labour Party – are in a state of readiness for the elections which will be called by the Prime Minister, the Honourable Freundel Stuart. Some political pundits are suggesting that the poll will be called this month with polling day some time in February.
BRIDGETOWN, Barbados - Prime Minister Freundel Stuart has been outmanoeuvred by the opposition Barbados Labour Party (BLP) and is being forced to call a general election, three political scientists say. And they contend that the longer Stuart waits to act, the worse it could be for his Democratic Labour Party (DLP) administration.
KINGSTON, Jamaica, CMC – The Jamaica government is expected to update the nation later on Monday “on matters related to aspects of the negotiations with the International Monetary Fund (IMF), according to an official statement issued here. Prime Minister Portia Simpson Miller and members of her Cabinet are expected to address the media on the outcome of a three-day special Cabinet meeting that ended over the weekend and according to a statement issued later “good and steady progress” had been made “on important measures to be adopted in shaping the 2013/2014 budget”.
KINGSTON, Jamaica - Prime Minister Dr. Denzil Douglas says he will look towards his Caribbean Community (CARICOM) colleagues to help St. Kitts-Nevis deal with the new high income country status placed on it by the United States. Dr. Douglas said that his administration would pursue talks with the Obama administration so as to ensure that despite the new status the trading privileges afforded to other CARICOM countries are preserved.