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Written by
CLAIRE SHEFCHIK

June 20, 2022

VI court issues world-first freeze in crypto case

A Virgin Islands-incorporated company recently convinced the Commercial Court to back a novel approach in trying to track down people involved in an alleged theft of digital currency and seek …

Continue reading “VI court issues world-first freeze in crypto case”

by CLAIRE SHEFCHIK
June 17, 2022

Reform plan a first for OTs

Forty-eight of 49. That’s how many Commission of Inquiry recommendations the new National Unity Government has pledged to complete over the next two years under the proposal recently agreed with …

Continue reading “Reform plan a first for OTs”

by CLAIRE SHEFCHIK
June 17, 2022

SOL to replace Delta as BVIEC supplier

SOL will step in to provide No. 2 Diesel fuel and other services to the BVI Electricity Corporation through 2024, after the utility’s original contract with Delta Petroleum was terminated …

Continue reading “SOL to replace Delta as BVIEC supplier”

by CLAIRE SHEFCHIK
June 13, 2022

US hopes to seize VI-linked jets

A federal court in New York has authorised the United States government to seize two private jets collectively worth $410 million that are allegedly owned by a Russian oligarch and …

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by CLAIRE SHEFCHIK
June 8, 2022

No direct rule for now as UK accepts unity government’s proposal

The wait is over. Governor John Rankin and Premier Dr. Natalio “Sowande” Wheatley announced on Wednesday morning that the United Kingdom will not suspend parts of the Virgin Islands Constitution …

Continue reading “No direct rule for now as UK accepts unity government’s proposal”

by CLAIRE SHEFCHIK
Premier Dr. Natalio "Sowande" Wheatley
June 6, 2022

Fraser pushes for loan forgiveness

Despite government offering a variety of initiatives to help borrowers struggling financially due to the impacts of the Covid-19 pandemic, Premier Dr. Natalio “Sowande” Wheatley told the House of Assembly …

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by CLAIRE SHEFCHIK
June 6, 2022

Pier park grants $1.6m in rent concessions

More than $1.6 million in rent concessions were granted to about 70 tenants at the Cyril B. Romney Tortola Pier Park between April 2020 and February 2021 to offset their …

Continue reading “Pier park grants $1.6m in rent concessions”

by CLAIRE SHEFCHIK
May 27, 2022

Tourism numbers continue to climb

Overnight tourist arrivals in the first two months of 2022 soared in comparison to the same period in 2021, with the 26,225 visitors representing the Virgin Islands’ slow climb to …

Continue reading “Tourism numbers continue to climb”

by CLAIRE SHEFCHIK
May 27, 2022

COI: Policy on gov’t rentals not always followed

Government leaders have not always followed 2018 guidelines for government rental property, and they have improperly excluded the Deputy Governor’s Office from the process in many instances, according to the …

Continue reading “COI: Policy on gov’t rentals not always followed”

by CLAIRE SHEFCHIK
May 20, 2022

Rymer touts Seatrade despite Fahie arrest

Cruise ship passengers’ enthusiasm for visiting the Virgin Islands hasn’t been dampened by the arrest of the territory’s former premier last month in Miami while he was on a trip …

Continue reading “Rymer touts Seatrade despite Fahie arrest”

by CLAIRE SHEFCHIK
May 20, 2022

VI freezes $40m-plus in Russian assets

Since Russia invaded Ukraine in February, the Virgin Islands has frozen more than $40 million in assets, according to the Governor’s Office, which serves as the competent authority for sanctions …

Continue reading “VI freezes $40m-plus in Russian assets”

by CLAIRE SHEFCHIK
May 20, 2022

Delta fires back at BVIEC over fuel

Delta Petroleum CEO Carlos Robles fired back at the BVI Electricity Corporation on Friday, saying the company is “surprised and disappointed” by the BVIEC press release last week claiming that …

Continue reading “Delta fires back at BVIEC over fuel”

by CLAIRE SHEFCHIK
May 19, 2022

BVIEC: Delta can’t honour fuel contract

Delta Petroleum has notified the BVI Electricity Corporation that it cannot continue to source and supply the fuel required under the contract it signed with the utility in October, BVIEC …

Continue reading “BVIEC: Delta can’t honour fuel contract”

by CLAIRE SHEFCHIK
May 19, 2022

Despite turmoil, House passes ITA bill

Even amid the turmoil caused by the forced resignation of then-Speaker of the House Julian Willock on May 3, the House of Assembly still had time to pass a financial …

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by CLAIRE SHEFCHIK
May 18, 2022

Looking back on UK rule in TCI

When former Turks and Caicos Islands Premier Sharlene Cartwright-Robinson read the Commission of Inquiry report on the Virgin Islands, she was stunned. At 937 pages, the document is much more …

Continue reading “Looking back on UK rule in TCI”

by CLAIRE SHEFCHIK
May 6, 2022

Virgin Islands governance is ‘very poor,’ COI report finds

The results of the Commission of Inquiry are in, and governance in the Virgin Islands has been found to be “at best, very poor,” wrote Commissioner Sir Gary Hickinbottom. Concluding …

Continue reading “Virgin Islands governance is ‘very poor,’ COI report finds”

by CLAIRE SHEFCHIK
May 6, 2022

Financial services copes with Fahie fallout

The Virgin Islands financial services industry rushed to distance itself from the Miami arrests last Thursday of Premier Andrew Fahie and BVI Ports Authority Managing Director Oleanvine Maynard — as …

Continue reading “Financial services copes with Fahie fallout”

by CLAIRE SHEFCHIK
April 28, 2022

Girls learn about ‘STEAM’ fields

On Friday, Virgin Islands students helped clean up the oceans — virtually. Onscreen, an entity powered by artificial intelligence combed through an ocean of colourful fish and other objects. However, …

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by CLAIRE SHEFCHIK
April 28, 2022

Bank pushes procurement progress

As the latest step in the Caribbean Development Bank’s efforts to help Caribbean governments get better value for money, the bank has launched a new phase of its public procurement …

Continue reading “Bank pushes procurement progress”

by CLAIRE SHEFCHIK
April 28, 2022

Marinas get work as Investment Club marks 30

In 1992, 26 ambitious Virgin Islanders and belongers each dug into their pockets and took out $1,000. Facing a fragile Virgin Islands economy and limited opportunities for investment, they decided …

Continue reading “Marinas get work as Investment Club marks 30”

by CLAIRE SHEFCHIK
April 28, 2022

Sue over blacklist, says economist

Caribbean countries that live in fear of being blacklisted by the European Union should band together and take legal action, according to Barbados-based economist and Caribbean policy expert Marla Dukharan. …

Continue reading “Sue over blacklist, says economist”

by CLAIRE SHEFCHIK
April 27, 2022

Top cop reflects on first year

On the day of his swearing-in ceremony on April 19, 2021, Police Commissioner Mark Collins was unequivocal about his goals over his three-year term: maintaining the security of the Virgin …

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by CLAIRE SHEFCHIK
April 19, 2022

27 finish skills training

Twenty-seven residents received certificates on April 5 after completing eight modules of the Employability Skills Training Programme. Dr. June Soomer, chair of the University of the West Indies Open Campus …

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by CLAIRE SHEFCHIK
April 19, 2022

Incorporations see best year since 2018

In 2021, new incorporations in the Virgin Islands saw their best year since 2018, recovering somewhat from a disappointing downward trend for the territory’s core financial product, according to fourth …

Continue reading “Incorporations see best year since 2018”

by CLAIRE SHEFCHIK
April 15, 2022

Sandbox aims to educate

An early participant in the Financial Services Commission’s regulatory sandbox regime for financial technology recently spoke out about her experiences operating in a small but growing industry in the Virgin …

Continue reading “Sandbox aims to educate”

by CLAIRE SHEFCHIK

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