Island Financial

Island Financial (1535)

WILLEMSTAD/PHILIPSBURG – According to preliminary data of the Centrale Bank van Curaçao en Sint Maarten, the current account surplus of the balance of payments dropped slightly during the first quarter of 2016.

WILLEMSTAD/PHILIPSBURG – According to the Quarterly Bulletin of the Centrale Bank van Curaçao en Sint Maarten, economic developments in the monetary union were uneven in the first quarter of 2016. Curaçao recorded a real GDP contraction, while Sint Maarten’s economy expanded in real terms.

HOLLAND - Civil service pension fund ABP is increasing its investment in start-ups by €300m, the fund said on Wednesday.

Hong Kong/St. Maarten - Peak Reinsurance Company Limited (“Peak Re”), the Hong Kong based global reinsurer, and NAGICO Holdings Limited (“NAGICO”), the leading Caribbean insurance group, are pleased to announce today that Peak Re has completed its strategic investment of a 50% stake in NAGICO.

PORT OF SPAIN, Trinidad – The High Court in Trinidad and Tobago has granted orders that categorize 78 entities and individuals as terrorists, preventing them from accessing any of their money. And more could be added to that list.

KINGSTON, Jamaica – Leader of the main opposition People’s National Party (PNP), Portia Simpson Miller, has called for a probe to be conducted into allegations of misuse of funds that were donated to the party in the run-up to the February 25 general election.

BES Islands - On two of the three islands of the Caribbean Netherlands, the value of the gross domestic product (GDP) increased in 2014.

PHILIPSBURG, St. Maarten - On August 29th 2016, Member of Parliament Leona Marlin-Romeo sent an extensive letter to the Chair of Parliament for the Minister of Finance questioning the financial situation of the country and the state of affairs at the Central Bank of Curacao and Sint Maarten. 

PHILIPSBURG, St. Maarten - The government of St. Maarten is currently studying the implementation of a new tax system.

This was announced this week by the Finance Minister the Honorable Richard Gibson.

The Ministers comments came in reaction to the various tax proposals being made by some of the islands politicians.

More now via PodCast.

PHILIPSBURG, St. Maarten - The United St. Maarten (US) party will seek to enact a five-year profit tax break for young local entrepreneurs who seek to invest in up and coming fields of business.

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