Grenada
Grenadian officials are investigating whether Taiwan’s $28.1 million loans to the country, dating back from before 2000, were granted legally under a former administration. According to the Grenada Broadcasting Network, the current finance minister, Nazim Burke, wants to know whether the loans, which were granted by a Taiwanese export bank, had received parliamentary approval. The Taiwanese government is attempting to seize Grenadian properties in the US and recover the outstanding balance of the loan from cruise ships and airlines servicing the country, according to GBN.
Royal Caribbean
Cruise operator Royal Caribbean increased its third quarter profits by 13.9 percent over last year’s profits due to increased demand for its Alaskan and Caribbean cruises. The company’s earnings estimates for the entire year remain “stable,” the company stated in a press release, though the estimates may be changed due to fluctuations in currency exchange rates. The cruise line experienced a 15 percent rise in ticket yields for the Caribbean region compared to the third quarter last year, according to the company.
OECS
The United States government has appointed its first envoy to the Organisation of Eastern Caribbean States, a move aimed at strengthening ties between the two jurisdictions. The new envoy, Christopher Sandrolini, said in an Oct. 25 speech in St. Lucia that the US will continue to work with the six-country group to increase HIV/AIDS prevention, respond to the effects of climate change, strengthen juvenile justice systems, combat drug trafficking and increase trade.