Miami Beach, FL (Vocus) September 22, 2010
The Paradise Is Mine Company announced Tuesday that it will continue to review institutional financing offers from Wall Street financiers for additional infrastructure on the island of Rum Cay in The Bahamas. Fresh investment capital from private and institutional investors signifies the viability of The Bahamas as a burgeoning destination for the construction of second homes, travel and tourism. The Company announced that it is finishing its quarterly fundraising efforts on September 23rd to conclude the third quarter.
The funding provided is expected to dramatically enhance the existing infrastructure of Rum Cay, a postcard perfect Caribbean island in the southern Bahamas. Rum Cay currently has all needed infrastructure for its current population. The island is the switching station for all fiber optic networks between Florida and the southern Bahamas and provides cellular services to the region as well. Investor funds will support The Company’s continued pre-development efforts in The Bahamas and in other Caribbean and South American locales.
The financing is from a syndicate of Wall Street and international investment firms attempting to cash in on the increased marketability of Rum Cay and The Bahamas. William Myers, Paradise Is Mine’s Chief Financial Strategist, echoed his previous public statement that “the details will be made public in the very near future when all the i’s are dotted and the t’s are crossed. We have had no shortage of interested financial partners. The market seems to have definitely corrected. The core of our investment focus has significantly shifted towards institutional investment.â€
Recently, The Peoples Republic of China announced a $2.6 billion dollar investment in Nassau creating 11,000 Bahamian jobs and is expected to add $1 billion in new spending to the economy in the first year after completion. A financial commitment of this magnitude is a clear signal that The Bahamas continues to lead the Caribbean real estate market.
Rum Cay has recently become the focus of international hipsters, financiers and celebrities desiring to build vacation homes. “Rum Cay is becoming a chic locale for the in-crowd looking for the perfect place to get away. Quite a few recognizable buyers have shown interest in building their own private getaways on Rum Cay.†said company spokesman Daniel R DuPont III.
Paradise Is Mine, an “international real estate Marketmaker†had previously announced plans to unveil projects in the Dominican Republic and intends on announcing a project near Medellin Colombia some time in late 2010.
By Anna Ramdass
The People’s Partnership Government is one that listens to the people and this is why no aluminium smelter will be constructed in Trinidad and Tobago, Prime Minister Kamla Persad-Bissessar told world leaders in New York yesterday.
Persad-Bissessar was speaking at the Blouin Foundation’s fifth annual Global Leadership Summit as part of the leaders panel on emerging economies. She was one of the three leaders from Latin America and the Caribbean to speak at a session.
According to its website, the Louise Blouin Foundation is one of the largest non-government funded, not-for-profit cultural spaces in London. The summit is held in partnership with the United Nation’s Office of Partnerships and gives heads of states, business leaders and scholars a forum to discuss and develop ideas on challenges and opportunities provided by globalism.
Since her arrival to New York for the United Nations General Assembly meeting, Persad-Bissesar has been marketing this country and speaking of Government’s new initiatives, including its commitment to child development and poverty eradication and a move to diversify the economy. Persad-Bissessar pointed out that 60 per cent of the natural gas going to the United States comes from Trinidad and Tobago and the energy sector will continue to be relied upon to play a significant role in the country’s ongoing development. She also stressed her Government is committed to poverty eradication and continued to invite support for the Children’s Life Fund.
Last night Persad-Bissessar attended a reception for heads of Government hosted by former US President Bill Clinton. Today, she will be in the company of US President Barack Obama and other world leaders, as well as UN general secretary Ban Ki-Moon for the opening session of the United Nations General Assembly. Obama is scheduled to deliver the opening address today. Persad-Bissessar will take centre stage on Monday when she will deliver her main address to the general assembly.
Source: TT Express
MIAMI, Sept. 22 /PRNewswire/ — Calling all families! Royal Caribbean International and USA TODAY announced today a search for America’s best and brightest family to cover the unveiling of Allure of the Seas, which will share the title of the world’s largest and most revolutionary cruise ship along with sister ship, Oasis of the Seas. Today through October 29, 2010, families are invited to enter to win the coveted role of field correspondents alongside USA TODAY’S own cruise editor, Gene Sloan. Once onboard the ship, the lucky winning family of up to six will receive behind-the-scenes access to file reports that will appear at USA TODAY’s Cruise Log about one of the most buzzed-about hospitality and entertainment stories of the year.
While embarking on a four-night preview sailing, the winning family will enjoy a behind-the-scenes look at The DreamWorks Experience featuring the “How To Train Your Dragon On Ice” show, an aqua show featuring “Madagascar”, character breakfasts, activities for the kids in Adventure Ocean, character meet-and-greets, parades, sail-away parties, 3D films in the ship’s 3D theater, as well as backstage access to Chicago: The Musical. In addition to the United States, the “Reporters at Sea: Family Style” contest is searching for family journalists in Canada, Germany, Italy, the United Kingdom, Spain, South Korea, China and Venezuela.
Reporters-to-be can audition for the assignment of a lifetime by submitting a creative video of 45 seconds or less in length and no more than 100 MB in size at www.allureoftheseas.usatoday.com. The video should showcase the family’s best reporting skills and tout why Royal Caribbean should select them to be USA TODAY’s correspondents onboard Allure of the Seas. Videos will be judged on the entrants’ ability to entertain, as well as effectively bring to life and clearly explain innovative and imaginative travel or cruising concepts.
Once the entry period ends, judges will select three finalists per country, and Americans will vote for their favorite U.S. video between October 15 and October 29, 2010. Multiple generations are encouraged to enter. The individual who enters the contest on behalf of his or her family must be 18 years of age. Winning families of up to six members from each country will be simultaneously announced on November 15, 2010, and will be flown to Fort Lauderdale, Florida, to cover two exclusive preview cruises onboard Allure of the Seas from November 19 to November 23, 2010.
Allure of the Seas shares the title of the world’s largest and most revolutionary cruise ship with its sister ship, Oasis of the Seas. An architectural marvel at sea, she will span 16 decks, encompass 225,282 gross registered tons, carry 5,400 guests at double occupancy, and feature 2,700 staterooms. Allure of the Seas will tout Royal Caribbean’s exclusive neighborhood concept of seven distinct themed areas, which will include Central Park, Boardwalk, the Royal Promenade, the Pool and Sports Zone, Vitality at Sea Spa and Fitness Center, Entertainment Place and Youth Zone. The ship will alternate a Western Caribbean with an Eastern Caribbean seven-night itinerary from her home port of Port Everglades in Fort Lauderdale, Fla. Additional information is available at www.AllureoftheSeas.com.
The Reporters at Sea: Family Style contest builds on the success of last year’s Reporter at Sea contest, in which winners from five countries reported individually about the launch of the groundbreaking Oasis of the Seas. For more information about the Reporters at Sea: Family Style contest, how to enter and vote, the official rules and details on the prize, please visit www.allureoftheseas.usatoday.com.
Royal Caribbean International is a global cruise brand with 20 ships currently in service and two
under construction. The line also offers unique cruise tour land packages in Alaska, Canada, Dubai, Europe, and Australia and New Zealand. For additional information or to make reservations, call your travel agent, visit www.royalcaribbean.com or call (800) ROYAL-CARIBBEAN. Travel professionals should go to www.cruisingpower.com or call (800) 327-2056.
USA TODAY is a multi-platform news and information media company. Founded in 1982, USA TODAY’s mission is to serve as a forum for better understanding and unity to help make the USA truly one nation. Today, through its newspaper, website and mobile platforms, USA TODAY connects readers and engages the national conversation. USA TODAY, the nation’s number one newspaper in print circulation with an average of more than 1.8 million daily, and USATODAY.com, an award-winning newspaper website launched in 1995, reach a combined 5.9 million readers daily. USA TODAY is a leader in mobile applications with more than five million downloads on mobile devices. The USA TODAY brand also includes USA TODAY Education and USA TODAY Sports Weekly. USA TODAY is owned by Gannett Co., Inc. (NYSE: GCI).
NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. LEGAL RESIDENTS OF THE 50 UNITED STATES (D.C.), CANADA, GERMANY, THE REPUBLIC OF KOREA, ITALY, THE UNITED KINGDOM, AND VENEZUELA, 18 YEARS AND OLDER WHO DID NOT PURCHASE ANY EQUIPMENT FOR PURPOSES OF ENTERING THE CONTEST. VOID WHERE PROHIBITED. Enter Contest by: 10 October 2010 at 11:59:59 ET. For Official Rules and prize descriptions, visit www.allureoftheseas.usatoday.com. One (1) Grand Prize per country available to be won (approximate retail value $8,780 USD). Sponsor: Royal Caribbean International, 1050 Caribbean Way, Miami, FL 33132, U.S.A.
SOURCE Royal Caribbean International
The JSE Market Index decreased 177.39 or 0.21% to 84,074.15 and the JSE Select Index fell 2.34 or 0.11% to close at 2,138.74.
Trinidad Composite Index increased 0.33 to 817.60 and Bahamas Stock Exchange index rose 0.01 to 1500.52.
Of the 19 stocks traded on Jamaica Stock Exchange, 8 increased, 8 decreased and 3 were unchanged.
In today’s trading in Kingston, 3,505,481 shares changed hands worth J$16.25 million. Kingston Properties Limited led the most active list with a trading of 2,500,000 shares followed by Radio Jamaica Ltd. with 501,860.
Kingston Properties Limited increased 10 cent to J$3.90 and traded 2,500,000 and Radio Jamaica Ltd. added 12 cent to J$2.54 and traded 501,860. Cable and Wireless Jamaica Ltd. gained 1 cent to J$0.34 and traded 161,713.
Supreme Ventures Limited declined 14 cent to J$2.26 and traded 70,700 and Jamaica Money Market Brokers Ltd. declined 1 cent to J$3.99 and traded 49,624. Desnoes and Geddes Ltd. fell 1 cent to J$4.02 and traded 29,848.
Trinidad Market Overview
Trinidad Composite Index increased 0.33 to 817.60 and of the 8 stocks traded 1 advanced, none declined and 7 closed unchanged.
National Commercial Bank Jamaica Limited led the most active list with 19,525 shares.
World Market Review
U.S. stocks generally traded higher and trimmed gains in the late afternoon after the Fed in a statement indicated it may be prepared to provide additional stimulus to the economy. Gold increased to record high and the yields on U.S. Treasuries dropped to record low.
U.S. stocks gained after housing starts surged more than expected 10.5% in August. McMoRan agreed to buy Plains Exploration”s shallow water Gulf of Mexico assets for $818 million. Clorox is negotiating to sell its auto-care brands to Avista Capital for $800 million.
AutoZone, Inc declined after the retail said fourth quarter sales increased 9.5%. Carnival Corp increased 2% after third quarter revenues increased 8% to $4.4 billion. FactSet Research Systems Inc. increased revenues and earnings increased 8%.
The European indexes rose after the French economic index accelerated in July. The EU extended Irish bank guarantee scheme. Fitch affirmed Germany”s sovereign ratings. Spanish export growth slowed in July.
The UK indexes climbed after Ireland successfully completed bond sales. The Confederation of British Industry urged prioritization of spending on investment for economic growth. The UK public sector net borrowing soared in August. Irish PPI slackened in August.
BASSETERRE, St. Kitts – Australia and the United States have joined world leaders in congratulating St. Kitts and Nevis on the 27th Anniversary of Independence.
Australia said Wednesday it looks forward to further develop its bi-lateral ties with the Federation of St. Kitts and Nevis.
Australia Prime Minister, the Hon. Julia Gillard in her congratulatory message to St. Kits and Nevis Prime Minister Hon. Dr. Denzil L. Douglas noted the two countries have enjoyed friendly ties for many years.
“The Australia-CARICOM Memorandum of Understanding signed in November 2009, lays the foundation for Australia’s long-term engagement and closer cooperation with the Caribbean region,†said Prime Minister Gillard.
She reaffirmed Australia’s strong commitment to working with St. Kitts and Nevis in the years ahead through the United Nations and the broader multilateral system to address significant global challenges such as climate change, international development and disarmament.
“As host of the next Commonwealth Heads of Government Meeting in Perth in October 2011, we look forward to working with you as we develop an active agenda to strengthen the Commonwealth’s ability to address the particular interests of commonwealth members,†said the Australia Prime Minister in her message to her St. Kitts and Nevis colleague.
United States Secretary of State, the Honourable Hilary Rodham Clinton in a congratulatory message on behalf of President the Hon. Barak Obama said the United States and St. Kitts and Nevis “share an enduring friendship based on our strong commitment to advancing democracy and protecting human rights.â€
“Our partnership through the Caribbean Basin Security Initiative is enhancing the security and prosperity of the region, and the leadership St. Kitts and Nevis has shown in our common efforts to combat crime and integrate youth throughout the Caribbean is helping build a brighter future for all our people,†said Mrs. Clinton.
The U.S. Secretary of State said she looks forward to “expanding our cooperation as we continue working to improve access to health services and education, expand trade, and protect the environment.â€
“I wish the people of St. Kitts and Nevis a happy independence day and a prosperous year ahead,†said Mrs. Clinton.
St. Kitts and Nevis became an independent nation on September 19th 1983.
By BILL POWER Business Reporter
The advent of bigger and slower container ships will eventually boost cargo traffic through the Port of Halifax, a transportation expert said Tuesday.
“Economies in the Far East are improving and Halifax is well placed to take advantage of increased exports from that region,” said Steven C. Rothberg, a partner with Mercator International LLC. The U.S. group provides logistics expertise to shipping and rail systems throughout North America.
Rothberg told members of the American Association of Port Authorities attending their annual convention in Halifax that larger container ships will begin visiting new ports in China in coming years as authorities there direct more economic growth to smaller cities.
He said most North American ports will beef up cargo handling capabilities and rail connections as shipping companies turn to bigger ships to save on fuel and meet new environmental standards.
If there is a problem with many east coast ports, and some in the Caribbean and the Gulf Coast, it is that they are forced to work with basic cargo handling arrangements devised 50 and sometimes 100 years ago, Rothberg said.
“Most of these ports would like to redesign on a clear slip of paper, but this is impractical.”
Rothberg said in an interview that Halifax is an example of a port that has to work with the realities of its location and history. He said he’d like to see more cranes with the capacity to handle the coming generation of ultra-large container ships, as well as progress on a route for trucks along an existing rail cut that extends across the peninsula to the city’s waterfront cargo terminal.
Rothberg questioned the logic of investing in other container terminals in Nova Scotia when the Port of Halifax was operating at about half of capacity.
Port authority officials from across Canada, the Caribbean, Latin America and the United States are participating in the five-day conference, which started Monday.
Source: CH
Trinidad and Tobago is the destination for investments, Prime Minister Kamla Persad-Bissessar told world leaders yesterday.
Speaking at a roundtable lunch hosted in her honour by the Council of the Americas in New York, Persad-Bissessar took the opportunity to market this country as she highlighted a number of advantages to doing business here.
Championing Government’s thrust to diversify the economy, Persad-Bissessar spoke of Government’s initiatives and support to other sectors.
She said Government is aware that oil and gas will not last forever and the decision to reconstruct the economy away from the hydrocarbon sector within the next ten to 20 years was a wise one.
Persad-Bissessar drew attention to the Tamana Intech Park, saying it offers significant investment potential in the information and communication technology (ICT) sector.
“The park is poised to be a world-class, state-of-the-art science and technology park and a central location for established and emerging companies in sectors such as information and communication technology (ICT), software development, high-tech manufacturing and agro-processing.
“The Tamana Intech Park will offer investors flexibility in accommodation, including a build-to-suit option. Plans are on stream for Phase 1 of the Tamana Intech Park to be opened later on this year,” Persad-Bissessar said.
She also marketed her Government’s initiative to establish an International Business Centre (IBC) together with the Evolving TecKnologies, Enterprise Development Company (E-teck) and the Tourism Development Company, and also the Ministries of Trade and Industry and Finance.
Persad-Bissessar said Government will also examine the feasibility of establishing a recycling industry.
She said as part of Caricom, this country is currently negotiating a Trade and Development Agreement with Canada, which is expected to be completed in 2011.
“To this can be added the Caribbean Basin Trade Partnership Act (CBTPA) which has been extended until 2020.
“In the meantime we continue to work, as part of Caricom to negotiate a Trade and Investment Framework Agreement (TIFA) with the United States of America to incorporate the area of services. This is expected to be completed by the end of 2010. Trinidad and Tobago has also been capitalising on its economic ties with the BRIC countries of Brazil, Russia, India and China, as well as with South Africa,” said Persad-Bissessar.
“Trinidad and Tobago remains a sound and profitable destination for foreign investment, in view of our strong and stable democracy; skilled workforce; a vibrant financial system; duty exemption; tax-free holidays; a one-stop approval office; and our strategic location as a central transhipment hub in the Western Hemisphere all of which allowed us to enjoy a real Gross Domestic Product growth of eight per cent over the last decade,” she said.
Hip hop singer Wyclef Jean has officially withdrawn his candidacy for president of Haiti.
The 40-year-old Grammy Award-winning artist said in a statement on Tuesday that he is leaving Haitian politics to promote a new album.
“This was not an easy conclusion to reach,” the former Fugees singer said, “but it is one that was thoughtfully made, taking into account many, many competing factors.”
In early August, Jean announced his intent to run for president of the impoverished Caribbean island nation in its Nov. 28 election, but he was disqualified by Haiti’s Provincial Electoral Council.
No official reasons were given, but Haitian law requires that candidates reside in the country for five consecutive years prior to running.
Although Jean was born in Haiti, he lived in New Jersey with his wife and daughter during that time.
He filed an appeal, saying he would exhaust all legal avenues to get on the ballot.
But he has now decided to focus on his music.
His new album, If I Were President, the Haitian Experience, will be released in February, followed by a worldwide tour.
When he first announced he would run for president, Jean told the Guardian: “Singing is not enough. Every year I probably do 200 shows and I have a very comfortable life. But people are saying to me, ‘Clef, if you don’t put yourself on the ground, in 10 years’ time, you will look at it and say you could have.’”
September 20, 2010 9:24 AM EDT
Spirit Airlines, Inc. filed a registration statement with the U.S. Securities and Exchange Commission today for an Initial Public Offering of its common stock. The proposed maximum aggregate offering price is $300 million.
The offering is being made through Citi, Morgan Stanley, Barclays Capital, Raymond James, and Dahlman Rose & Co.
Spirit Airlines is an ultra low-cost, low-fare airline based in Fort Lauderdale, Florida that provides affordable travel opportunities principally to and from South Florida, the Caribbean and Latin America.
September 21, 2010: IMG Fashion in association with the Tourism Authority, along with the Aruba Fashion Group has gone ahead and announced a three year long partnership for the IMG so as to discuss both the creation as well as execution of the Aruba in Style event.
Aruba in Style is annual fashion, entertainment and lifestyle events that offer something for everyone.
This is to commence in the island of Aruba and would start in the fall of next year.
Mr. Otmar Oduber, who is the Minister of Tourism, Transportation and Labor Affairs in Aruba, said that the place already offers some of the most fascinating designer as well as retail offerings in the entire Caribbean.
He also says that the new partnership with IMG and the delightful launching of the event Aruba in Style will also assist to lift up the island’s status as a one stop fashion and style destination.
The event, Aruba in Style will be a fine blend of parties, fashion shows, presentations and even shopping at one of the most exhilarating destinations in the whole of the Caribbean. This is one event that will bring together everyone from designers to celebrities, from models to the media all under one roof.
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SHABBA, SHAGGY TO PERFORM AT POST ADIDAS GRAND PRIX CONCERT IN NY
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