Archive for 2011

An earthquake registering 3.5 on the Richter Scale occurred in north Trinidad yesterday.

The quake with a magnitude of 3.5 occurred along the Northern Range of Trinidad just before 1 p.m. It was reported to have been felt in Port of Spain, San Juan, Diego Martin and Curepe.

The event was located at 10.72°N and 61.61°W at a depth of 57 kilometres, the Seismic Research Unit of the University of the West Indies, St Augustine said on its website yesterday. No damage or ...

ST GEORGE’S, Grenada – The International Monetary Fund (IMF) said yesterday that Grenada should experience economic growth of nearly 1.5 per cent this year, noting that Gross Domestic Product (GDP) had declined for a second year last year.

An IMF delegation, headed by Nita Thacker ended a one week visit on Tuesday to conduct discussions on the second review of the government’s economic programme supported by the IMF’s Extended Credit Facility (ECF) that was approved on April 2, last year.

The mission ...

Fighting between rebels and forces loyal to Libyan leader Col Muammar Gaddafi has been continuing in key cities after a fifth consecutive night of air strikes by international forces.

Overnight, several loud explosions were heard in the capital, Tripoli. In the rebel-held city of Misrata, east of Tripoli, government tanks have been shelling the area near the hospital.

There have also been reports of fierce fighting between rebels and pro-Gaddafi forces in strategic Ajdabiya.

Residents fleeing the town described shelling, gunfire and ...

A statement from the Ministry of Foreign Affairs said that while Suriname is no longer a partner country in Holland’s development policy, the special relationship with the former colony would continue.

But it said that the new relationship is dependent upon a memorandum that will be submitted to the House of Representatives later this year.

Suriname was among a number of countries that the Dutch government removed from its development programme last weekend.

“Reducing the number of partner countries does not mean that ...

Former Caroni (1975) Ltd sugar workers will be given a chance to combine the two-acre lots they received as part of their VSEP packages to create larger farms.

Food Production Minister Vasant Bharath believes this opportunity will help former sugar workers who are unable or unwilling to begin food production utilise their land.

He said: “Because of the length of time that it has taken for the allocation of these plots, what has happened is that a number of people who have ...

FOLLOWING the devastating tsunami that struck Japan, 33 countries are preparing to participate in the first full-scale simulated tsunami alert exercise in the Caribbean on Wednesday.
The goal is to test the Tsunami and other Coastal Hazards Warning System for the Caribbean and Adjacent Regions, which was established in 2005 in collaboration between regional countries and the UNESCO Intergovernmental Oceanographic Commission (IOC).
“The earthquake and tsunami that have devastated Japan have shown how essential alert systems are,” said UNESCO Director-General ...

As we address the price of grains and their impact on food prices in 2011, it is important to look at what transpired from 2010 to date.

From January to July 2010, the price of wheat traded relatively flat on the world wheat market. However, prices began an upward climb from August 2010 as a direct result of drought conditions in Russia (see FOB Gulf price chart). With a reduction in their wheat crop by 34%, all exports out of Russia ...

Jamaican consumers may have to absorb what could be a massive 50 per cent jump in the price of flour. A cut in the supply of wheat on the world market, and rising oil prices, have started to influence the cost of the basic consumer item in Jamaica.

“It really depends on the mark-ups along the way, a price from us (Jamaica Flour Mills) will increase by about 50 per cent by the time the consumer sees it. If we sell ...