Barbados
A Barbados government minister said he believes the country’s financial services sector will see improved performance in 2011. George Hutson, Barbados’ minister of international business, said “a number” of the international business companies across the island have recorded increased sales and profits for the first quarter of 2011, according to a press release from Barbados Information Services. Last year, the country passed the International Corporate and Trust Service Providers Act, which regulates the sector. Mr. Hutson said the Barbados government is undertaking initiatives to guarantee high regulatory standards, according to the release.
Region
JetBlue Airways plans to introduce nonstop service from San Juan, Puerto Rico to St. Maarten in November, the discount airline announced last week. The new route, the introduction of which is subject to government approval, will be the airline’s eighth destination from San Juan, according to a press release.
St. Maarten
St. Maarten’s Council of Ministers passed a $234 million budget last week, though it still needs further approval to become law. Parliament approved a $248 million budget in December, but cuts in rent, personnel, consultants, travel costs and other expenses were made to balance the budget, according to the Daily Herald newspaper. The budget still needs the approval of the Advisory Council and Parliament to become law. The government’s finance minister, Hiro Shigemoto, said the country’s reserves “remain intact,” according to the newspaper.