Mosquito Island
Construction of the first road as part of the $75 million plans to build an “eco-resort” on Mosquito Island will begin in about six weeks, Sir Richard Branson said last week. Sir Richard said that the main roads, electrical infrastructure and central areas for the resort will be built in the next 12 months. Plans announced in 2007 after Sir Richard’s $20 million purchase of the island call for the construction of up to 20 villas, and the creation of “the most eco-friendly island in the world.” The resort will be run similarly to the one on the 74-acre Necker Island, which Sir Richard also owns, though with one key difference. “I think we’ll specialise in the lemur protection there,“ the billionaire said, referring to his controversial plan to continue importing the threatened species to the Virgin Islands.
FSC warning
The Financial Services Commission is advising the public to “exercise extreme caution” when dealing with four firms, which it says are no longer or have never been authorised to do business in the territory. The FSC issued advisory notices regarding the four firms: SMG Assurance Limited, Sharp Courage Global Limited, Advantage Finance European Futures Fund Ltd., and Guardian International Limited.
Name change
FirstCaribbean International Bank will be co-branded with its Canadian parent company to form CIBC FirstCaribbean International Bank, the firm announced last week. The rebranding aims to align the bank closer to the CIBC brand while maintaining its local ties, according to a company press release.