BASSETERRE St. Kitts – The Eastern Caribbean Central Bank recently reported that economic activity in the Organisation of Eastern Caribbean States (OECS) declined by 1.8 percent last year, a slower rate compared with 5.4 percent in 2009.
Governor of the St. Kitts-based Eastern Caribbean Central Bank (ECCB), Sir K. Dwight Venner, said that weak external demand and a reduction in domestic investment contributed to the decline which resulted in the continued contraction of activity in the construction and transport and communications sectors.
He said that the international financial downturn has impacted the Bank's performance for the 2010/2011 financial year, resulting in a net income of EC$22.6 million (US$8.3 million) a decrease of EC$14.5 million (US$5.3 million) over the previous year's income of EC$37.1 million (US$13.7).
On that note, presented below is the weekly update on what is happening in the business world on St. Kitts.
LIME, in noticing that Father’s Day is not one of high recognition, decided to create its own excitement for the fathers of St. Kitts & Nevis and on June 29, recognised a lucky father with a $1000 gift voucher. The lucky father, Mr. Armony, was the winner of one of LIME’s Father Day text to win promotion.
The telecommunications company is currently offering a free modem and free installation when you sign up for internet service on or before July 31 and pay just $75 plus VAT monthly for one year.
Jeanne Phipps of the Connector Line Department at Kajola Kristada was recently awarded for her hard work and dedication by being named ‘Employee of the Month’ of May.
Local businessman and owner of Gumbs and Gumbs Auto Parts in Lower Cayon, Glenford ‘Pilly’ Gumbs Jr. made a presentation of books and writing supplies totalling in excess of EC$1 000 to the Cayon Primary School on June 30.
Rituals Coffee House will be opening its doors in downtown Basseterre next Tuesday (July12) on Fort Street. Apart from drinks and dishes, Rituals will also have V.I.P. lounge facilities, corporate catering packages, as well as office delivery service. Opening hours will be from 7:00 a.m. to 7:00 p.m.
The Ministry of Sustainable Development recently held a national workshop on business process re-engineering entitled 'Business Process Re-engineering (BPR) and Change Management: the Leadership Imperative', which the St Kitts/Nevis National ICT Centre hailed “an absolute success”.
Facilitated by Trinidad-based TSG Consulting Ltd., the workshop was specially tailored to help national leaders translate reform policies and programs into concrete action plans. TSG Consulting is the Caribbean arm of UK-based consulting firm Congress Global Consulting (CGC), international specialists in leadership transformation and national development training and strategy.
TDC’s summer sizzler continues where you get 15 percent off any purchase of two tyres and 20 percent off any purchase of 3 or more tyres. The Furniture and Appliances Department of S.L Horford & Company Ltd., continues its cash back promotion where consumers will receive cash back coupons for free groceries with every Higher Purchase made.
Consumers will also be given a chance to win a free living room set, dining room set, bedroom set or a kitchen appliances package with every EC $100 spent. This promotion runs from June to December 2011.
There you have it for this week’s Business Update. If you are interested in having your information featured in our weekly articles, be sure it is emailed to editor@sknvibes.com
