Category: Economy
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 [...]
High police presence in the Corozal Free Zone
There are reports of an increase in police presence in the Corozal Free Zone. Our Orange Walk Bureau Chief Manuela Ayuso Cantun explains.
Toledo & Houston businessmen sign trade agreement
A memorandum of bilateral partnership was signed this morning between businesses in the Toledo district and their counterparts from Texas City of Houston in the United States. Our Toledo Bureau Chief Paul Mahung has the details in the following report.
Sugar industry faces financial crunch … again
There have been many questions surrounding the way forward for the sugar industry in Belize. In June a proposal from Banco Atlantida of Honduras to purchase majority shares in the Belize Sugar Industry was received. While, the reality on the ground is that the Industry currently owes as much as seventy million US dollars to [...]
Trouble at Libertad
The old Libertad Sugar Factory was the scene of some labor unrest this morning. Our Orange Walk Bureau Chief Manuela Ayuso Cantun traveled to Corozal today to bring you the following report.
Insurance company launches new program
Many times the news is flooded with appeals from people who need financial assistance to deal with some critical illness. Well now there is an insurance policy, an entirely new product that Guardian Life has provided called the Critical Illness Plan. This new product, according to the experts, offers consolation to people who are healthy [...]
Market vendors given ultimatum … again
In early July the vendors who occupy Hicattee Street adjacent to the Michael Finnegan Market lost a lot of their produce when continuous rains flooded out the street that they use to conduct their business. One month later the Public Health Department is requiring everyone who sells at the market to have a food handler’s [...]
Cane farmers union discuss proposed Banco Atlantida investment
The discussions among stakeholders in the sugar industry on the interest of Banco Atlantida in buying equity into the Belize Sugar Industries continue. The Honduran Bank’s interest is acquiring controlling shares in the company. While government believes this is the best option in saving the company which owes millions of dollars to ING and First [...]
BAHA fights citrus greening
The Belize Agricultural Health Authority is undertaking a new campaign targeting the Citrus Greening disease. Love TV’s Maria Novelo reports.
S&P downgrades Belize
The ratings agency, Standard and Poor’s, has downgraded Belize’s Credit Rating from a “B” to a “B-.” The cut in the country’s rating was announced today. According to the Reuters News Agency, the rating cut is as a result of government’s takeover of Belize Electricity Limited. According to S&P, the country’s foreign-currency credit rating which [...]
Rice farmers await delayed payments
Rice farmers of the Toledo District are awaiting their last payment of over fifty thousand dollars from the Belize Marketing and Development Corporation for rice that they have sold to the corporation for local consumption. Managing Director of the Corporation, Roque Mai, told Love News that there has been a delay in payments for the [...]
Cane farmers get second payment
There is sweet news tonight for thousands of cane farmers in the north. Our Orange Walk Burea Chief Manuela Ayuso Cantun has the details in the following report.
GOB appoints committe to look into sugar shortage
The Ministry of Agriculture today announced the appointment of a Marketing Committee charged with ensuring the availability of sugar on the local market. According to a government press release, the new committee will work with the Belize Bureau of Standards and other relevant authorities to ensure that there is a year round supply of sugar [...]
PM upbeat about investment talks with Banco Atlantida
Prime Minister Dean Barrow has held talks with officials of Banco Atlantida, the Honduras-based group that is interested in investing in BSI’s sugar factory at Tower Hill in the Orange Walk district. The meeting, which also included representatives of the Cane Farmers Association, was held on Friday in Belmopan. In a telephone interview this afternoon, [...]
PUP Northern Caucus discusses impending Banco Atlantida deal
The Northern Caucus of the People’s United Party held a Special Meeting on Saturday in Trial Farm village in the Orange Walk to discuss the impending sale of the shares of Belize Employee Holdings in Belize Sugar Industries Limited to Banco Atlántida of Honduras. According to a release from the PUP, critical issues facing the [...]
New CEO for Belize Electricity Limited
The new Chief Executive Officer of the Belize Electricity Limited has been named. Jeffrey Locke, who has been acting in that capacity since the former CEO, Lynn Young, left is the newly appointed replacement. Locke comes with his own background of experience, including twenty years experience in the energy industry and related areas, his academic [...]
PUP Leader says BSI should remain in local ownership
The issue of the proposed investment in Belize Sugar Industries Limited by the Honduras-based Banco Atlantida was brought up at the adjournment of the House of Representatives meeting this afternoon in Belmopan. Leader of the Opposition John Briceño questioned the sincerity of the Prime Minister on the issue of the nationalism saying that while he [...]
Government introduces 9th Constitution Amendment Bill
The government of Belize today brought legislation before parliament that will make it mandatory for the state to have controlling shares in all public utilities. The Belize Constitution Ninth Amendment Bill, 2011 was introduced by Prime Minister Dean Barrow during today’s sitting of the House of Representatives in Belmopan. In explaining the reasons for entrenching [...]
House approves Loan Motion
Also during today’s sitting the House of Representatives gave approval to a loan motion authorizing the government to borrow an additional eight million US dollars from the OPEC Fund for International Development. The money will be used for road rehabilitation purposes, namely the paving of the road from Golden Stream along the Southern Highway all [...]
Central Bank governor speaks
So we’ve heard of the Central Bank investment of twenty million dollars to buy four million shares in Belize Telemedia. Those shares were purchased in May at five dollars per share. But until lately, not much attention has been given to that fact. Today, Love News sat down with the Governor of the Central Bank, [...]
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