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Business

March 17, 2023

Before review, 18 laws passed in two days

Legislators passed 18 laws on Thursday and Friday with little to no public debate, just two days before international assessors arrived as part of a key anti-money-laundering review. Most of …

Continue reading “Before review, 18 laws passed in two days”

by ZARRIN TASNIM AHMED
March 16, 2023

OECD okays supplementary review

The Organisation for Economic Cooperation and Development’s Global Forum Peer Review Group has accepted the government’s request for a supplementary review that — if successful — could cause the European …

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by ZARRIN TASNIM AHMED
March 9, 2023

16 bills rushed ahead of international review

Eleven days before international assessors are scheduled to arrive as part of a key anti-money-laundering evaluation, Premier Dr. Natalio “Sowande” Wheatley introduced amendments to 16 financial services laws last Thursday …

Continue reading “16 bills rushed ahead of international review”

by ZARRIN TASNIM AHMED
March 9, 2023

Deposit insurance to launch in Q3

A long-promised system of deposit insurance is slated to launch during the third quarter of this year, Premier Dr. Natalio “Sowande” Wheatley said while introducing the Virgin Islands Deposit Insurance …

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by ZARRIN TASNIM AHMED
March 1, 2023

PPP back on table for runway expansion

Public-private partnerships are among the options being considered for the airport expansion the government hopes to build soon, officials said after attending a recent meeting of the Airport Expansion Summit …

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by ZARRIN TASNIM AHMED
February 23, 2023

Officials push back against European Union blacklist

Government hopes the territory will be removed from the European Union’s blacklist of “non-cooperative jurisdictions for tax purposes” by October, three senior officials said Friday. “The BVI is working very …

Continue reading “Officials push back against European Union blacklist”

by ZARRIN TASNIM AHMED
February 19, 2023

21 take part in Branson business training

Twenty-one Virgin Islands entrepreneurs received certificates from the Branson Centre of Entrepreneurship’s accelerator programme in late January. The participants underwent four months of “intense” training, which concluded with a ceremony …

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by ZARRIN TASNIM AHMED
January 17, 2023

Shipping Registry still aims to be statutory body

The Virgin Islands Shipping Registry still plans to transform into a statutory body, but it has not yet done so, VISR Director John Samuel told the House of Assembly in …

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by CLAIRE SHEFCHIK
December 16, 2022

Bankers: Government can’t always step in

Rocky economic times often lead to calls for government to step in and put pressure on banks to provide better customer service, make it easier to take out mortgages and …

Continue reading “Bankers: Government can’t always step in”

by Alva Solomon
December 16, 2022

Virgin Gorda resort offers int’l copter flights

Oil Nut Bay announced recently that it has begun offering its guests direct helicopter service to St. Thomas and San Juan after its heliport became “the first in the British …

Continue reading “Virgin Gorda resort offers int’l copter flights”

by CLAIRE SHEFCHIK
November 25, 2022

Public service touts ‘transformation’

Touting what they described as progress toward an “agile, lean, digital and green” public sector focused on service and innovation, ministry leaders explained their recent achievements during a “midterm review” …

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by ZARRIN TASNIM AHMED
November 24, 2022

BVIF-funded report touts financial industry

As part of ongoing efforts to market the territory’s financial industry, BVI Finance has commissioned a new report that touts the sector’s contributions and explores how it may adapt to …

Continue reading “BVIF-funded report touts financial industry”

by CLAIRE SHEFCHIK
November 24, 2022

VI and USVI reach new deal for boats

A new agreement between this territory and the United States Virgin Islands will allow charter boats to travel more freely between the two archipelagos, according to Premier Dr. Natalio “Sowande” …

Continue reading “VI and USVI reach new deal for boats”

by CLAIRE SHEFCHIK
November 16, 2022

Arbitrators aim for balance amid sanctions

With more than $400 million of assets in the Virgin Islands frozen in the wake of sanctions related to the Russian invasion of Ukraine, even many unsanctioned Russians are finding …

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by CLAIRE SHEFCHIK
November 16, 2022

Investment Club marks 30

Former Bermuda Premier Sir John Swan urged the Virgin Islands to “guard against selling off its dreams in the quest for quick capital” as he addressed the 30th anniversary dinner …

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by CLAIRE SHEFCHIK
November 8, 2022

Rymer promises Market Square next year

When government officials broke ground on the Market Square revitalisation in October 2020, they said the project would be completed in about nine months. That didn’t happen, but completion is …

Continue reading “Rymer promises Market Square next year”

by CLAIRE SHEFCHIK
November 7, 2022

$600k microgrid to be tendered soon

Tender documents are being developed for release to seven companies that pre-qualified to bid on the Paraquita Bay solar microgrid project announced last year, Deputy Premier Kye Rymer said last …

Continue reading “$600k microgrid to be tendered soon”

by CLAIRE SHEFCHIK
October 24, 2022

Bill is another step toward deposit insurance

An amendment before the House of Assembly would bring the territory one step closer to setting up a long-promised system of deposit insurance in the territory. The amendment to the …

Continue reading “Bill is another step toward deposit insurance”

by CLAIRE SHEFCHIK
October 17, 2022

Why celebrities need help with finances

Celebrity finances are frequently in the news, for reasons from bankruptcy to tax trouble to messy divorces to squabbles over estates. Lawyer, businessman and author Martin Litwak, founding partner of …

Continue reading “Why celebrities need help with finances”

by CLAIRE SHEFCHIK
October 17, 2022

Bill includes framework for deposit insurance

An amendment currently before the House of Assembly seeks to give the Financial Services Commission more tools to handle banking crises and would set a long-awaited framework to bring into …

Continue reading “Bill includes framework for deposit insurance”

by CLAIRE SHEFCHIK
October 10, 2022

Incorporations fall hard in Q2

Incorporations toppled in the second quarter, suggesting that 2022 won’t reach the heights of 2021, according to the latest quarterly report from the Financial Services Commission. Q2 2022 saw just …

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by CLAIRE SHEFCHIK
October 6, 2022

BVIEC to get $240k grant from EU

The BVI Electricity Corporation has been awarded €245,481 (about $241,000) from the European Union to improve its ability to keep the power on during pandemics and other “extreme and recurrent” …

Continue reading “BVIEC to get $240k grant from EU”

by CLAIRE SHEFCHIK
October 4, 2022

Financial Services Commission approves digital asset exchange

Global digital asset service provider Huobi announced that it has secured approval from the Financial Services Com￾mission to operate an exchange for cryptocurrencies and other virtual assets under its subsidiary …

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by CLAIRE SHEFCHIK
October 4, 2022

Tourism, tech on agenda at Inter Virgin Islands Council

The first formal meeting since 2020 between the governments of this territory and the United States Virgin Islands resulted into boost the tourism and marine industries and improve wireless technology. …

Continue reading “Tourism, tech on agenda at Inter Virgin Islands Council”

by CLAIRE SHEFCHIK
September 28, 2022

Region warned to cut airfare taxes

Even as travel bounces back post-pandemic, Caribbean destinations risk pricing themselves out of the market if they don’t find a way to lower taxes and fees on airline tickets and …

Continue reading “Region warned to cut airfare taxes”

by CLAIRE SHEFCHIK

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