BASSETERRE, St. Kitts – “IT may not be possible to change the past, but it is certainly essential to learn from the past.” This is what Prime Minister, Hon. Dr. Denzil Douglas, during his weekly radio programme “Ask the Prime Minister” on Tuesday (Oct. 18).
He made this statement while addressing the Colonial Life Insurance, and British American Insurance (CLICO/BAICO) issue.
The Prime Minister noted that many persons in the Federation and throughout the region recently found themselves having to deal with the reality of the CLICO/BAICO failure, and that the lessons learned from this experience will be put to constructive use as regional and other policy-makers work to put in place the kind of regulatory changes today’s new and evolving circumstances require.
Presented below is this week’s update on the Businesses in St. Kitts.
ECCB - The Eastern Caribbean Central Bank (ECCB) has announced that the EC$2 coin is readily available for circulation. The coin, which is being issued as part of activities to celebrate 10 years of Financial Information Month (FIM), will be circulated to all the commercial banks which operate in the Eastern Caribbean Currency Union (ECCU) for further distribution to the public.
The coin features the engraving of Queen Elizabeth the Second on the obverse side (head). The reverse side displays the 2011 Financial Information Month logo, which depicts a tree growing from the palm of two hands with coins and the theme: “Grow Your Savings”. The $2 circulation coin is legal tender.
ECCB, in conjunction with American Airlines/American Eagle and the St Kitts Royal Beach Casino, Business Symposium on Tuesday (Oct. 18) for Chief Executive Officers (CEOs) and entrepreneurs throughout the Eastern Caribbean Currency Union (ECCU).
It was held under the theme, “Revitalising and rejuvenating business enterprises: Strategic responses to current economic and business challenges” and exposed the business owners to concepts and techniques for reinforcing their businesses and being ready for action during the current recession.
Honourable Reuben T. Meade, Council Member for Montserrat and Chairman of the ECCB Monetary Council will be presenting the Communiqué of the 71st Meeting of the Council this afternoon at the ECCB Headquarters.
FND CREDIT UNION - As part of the celebration of International Credit Union Day, the Foundation for National Development Credit Union had a number of special initiatives under the theme: “Credit Unions Build a Better World”.
One of their initiatives were the waiver of the three month waiting period for loan applicants, and another was a free gift given to the FND Credit Union members who deposit $100 or more into their saving account.
SOCIAL SECURITY – On Wednesday (Oct. 19), the Social Security Board announced that as at December 31st 2010, total investments of just over one billion dollars (EC$1,078,697,965) with Cash at the Banks being over half a billion dollars (EC$606,881,711) and other securities being just under another half of a billion dollars (EC$ 477,594,741).
COURTS - Shania Edwards of Dominica has been declared the winner of the Courts/OECS Regional Finals Reading Competition which was held yesterday (Oct. 20) at the Sir Cecil Jacobs Auditorium, ECCB.
Recardoe Rodriques of St. Kitts Nevis came in second while Abigail Francis of St. Lucia was third. The six finalists had to read narratives and news items, and were judged on fluency, accuracy, smoothness, pronunciation, interpretation, ability to recover from mistakes, conveyance of feeling or mood and included as well were – their level of confidence and eye contact.
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.
