Category: Economy
PM says credit ratings downgrade is of no practical consequence
In other news from the economic front … last week we reported on the decision taken by the ratings agency Standard and Poor’s to downgrade Belize’s credit ratings. With respect to the downgrade Prime Minister Barrow says that because Belize does not borrow on the commercial market so the Standard and Poors’ downgrade is … [...]
SATIIM concerned about US Energy’s dealings in Conejo village
The Sarstoon Temash Institute for Indigenous Management is taking issue with US Capital Energy and what it says is the company’s attempt to force villagers of Conejo to sign away their rights. According to a release from SATIIM, US Capital Energy fired a group of men from the village last Thursday, after the village leadership [...]
Belize’s credit ratings goes into junk territory
The credit ratings service Standard and Poor’s today downgrade Belize’s credit worthiness, taking the long-term foreign- and local-currency sovereign credit ratings on Belize to ‘CCC-plus’ which is a notch down from ‘B-minus’. The same report, published today on the internet noted that the country’s ‘C’ short-term credit ratings are unchanged and the outlook is stable. [...]
International company says it found oil in Stann Creek
The international energy company Treaty Energy Corporation, today announced that it has struck oil in southern Belize. In a statement issued today, the Corporation said that its drilling team struck oil around 3:30 on Friday afternoon on its first well on the Princess Concession in the Stann Creek district near Independence village. Treaty, in a [...]
Silver lining for Holy Angels School
Earlier this month, Love News reported on a theft that occurred at Holy Angels Primary School in the Pomona Valley with no one detained into the matter up to this day. Today however, we received a call from the very excited principal of Holy Angel’s, Frances Gongora, who said it was a day of joy [...]
Prime Minister applauds lower electricity rates
Prime Minister Dean Barrow today applauded the initial decision handed down by the Public Utilities Commission on Thursday, approving a six point one percent reduction in electricity rates. The Prime Minister was speaking during today’s meeting of the House of Representatives in Belmopan. That other gift, the Prime Minister would further explained, is the [...]
Revenue fair held in Belize City
The first of its kind revenue tax fair was held today in various parts of the country. In Belize City, the Charles Bartlett Hyde Compound on Mahogany Street was the venue for the event in the commercial capital. It featured presentations and displays by different government departments and the private sector. Commissioner of income Tax, [...]
Prime Minister dialogues with the private sector
A business conference was held today in Belize City. Love TV’s Marion Ali and cameraman Myles Gillett attending the half day event and bring you the following report.
New brand of fuel hits the local consumer market
Sol Belize Limited, with head office on the Northern Highway in Belize City today held a pre-launch of its Shell V-Power product. The official launch is scheduled for Thursday at Shell Service stations across the country. Officials of Sol Belize Limited say this type of fuel will keep car engines in top shape for many [...]
Cane farmers get bonus
Cane farmers today received their third payment. Here again with a report is our Orange Walk Bureau Chief Manuela Ayuso Cantun.
Citrus processing season starts
Citrus farmers in the south are getting better prices for this year’s grapefruit crop. That is according to the Belize Citrus Growers Association which today announced the commencement of delivery of fruit to the factory. Love News spoke by telephone with Chief Executive Officer of the CGA Henry Anderson about the opening of the processing [...]
IMF Article 4 Consultation report released
The International Monetary Fund says that Belize has weathered the global financial crisis better than the rest of the Caribbean Community. That is according to the just released Article Four consultation summary. According to the summary released today, Belize’s output expanded by 2.7 percent in 2010 owing largely to activity in the electricity and wholesale [...]
Young entreprenuer launches out
Opening up your own business is not an easy feat in these trying economic times. But interested youths who have a business idea can get the assistance they need from the Belize Youth Business Trust. The nonprofit organization provides assistance to youth between eighteen to thirty-five years old through four and a half weeks trainings. [...]
MOU signed between GOB and Cane Farmers
There was a brief re-signing ceremony this afternoon of a Memorandum of Understanding among the Belize Sugar Cane Farmers’ Association, the Belize Sugar Industries Limited, the Belize Sugar Control Board and the Government of Belize. Earlier this year, in August, the Belize Sugar Cane Farmers Association made a proposal to purchase majority interests in the [...]
Time for Expo again
The Belize Chamber of Commerce and industry is gearing up for the annual business expo scheduled for this coming weekend. The event will feature small entrepreneurs and large enterprises, all displaying their products and services. Love news spoke with Vanessa Peyrefitte, the Chamber’s Marketing and Public Relations Officer. The expo will take place on Saturday [...]
Financial assistance for affected banana farmers
The Banana Industry will be receiving funds from the Development Finance Cooperation to help propel it back into full production. Chief Agriculture Officer Eugene Waight says they received the news on Tuesday. The destruction sustained at the banana plantations in South Stann Creek last week is estimated to have destroyed at least forty percent of [...]
Butane companies strike drags on
Four days after a nationwide shutdown by three of the country’s largest butane suppliers, tonight the strike continues. But a resolution appears to be near as government has agreed to a meeting with representatives of Belize Western Energy Limited, Gas Tomza and Zeta Belize. Spokesman for the striking companies Jose Mai told Love News today [...]
Third night of thunderstorm causes more damage in the banana belt
The Banana industry took a major hit on Tuesday night when a thunderstorm blew through southern Belize. It was a multi-million dollar blow that will surely take a toll on this crucial industry. Today, Love News was made to understand that a third storm blew through last night causing additional damages to more banana farms [...]
Major blow to the banana industry from thunderstorm
Over the past few days there have been a number of severe thunderstorms that have been affecting the country. Most of the time thunderstorms pass over rather harmlessly, but since Monday night, the Banana industry has taken a significant blow. Love TV’s Dalila Ical reports from the banana belt.
GOB says there are now five expressions of interest in BSI
At its weekly meeting Cabinet was briefed on the latest developments in the sugar industry. Cabinet was informed that there are now five expressions of interest in BSI, including the farmers. Cabinet says it wants to see the investment that is necessary to guarantee the viability of the industry happen. Cabinet points out that only [...]
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