Category: Finance/Business

Nine statutory bodies owe nearly $11M for electricity

Nine statutory bodies owe nearly $11M for electricity

Weeks after he disclosed that central government owes the BVI Electricity Corporation (BVIEC) just over $13.3 million, Premier Dr D Orlando Smith is now stating that Government’s statutory bodies also owe the Corporation a total of almost $11 million. Of […]

by / on May 23, 2017 at 2:03 PM /
Sharman appointed next Auditor General

Sharman appointed next Auditor General

Former Chief Auditor of Turks and Caicos Islands, Phil Sharman, has been appointed the next Auditor General of the British Virgin Islands (BVI). The appointment will take effect in August 2017, said the Government Information Service in a media release […]

by / on May 18, 2017 at 1:31 PM /
New financial services law will ‘cost us’

New financial services law will ‘cost us’

Minister of Health and Social Development Ronnie Skelton has told the territory to brace for possible fallout in the financial services industry, adding that the intensified clamp down on the industry  will directly affect especially businesses operating in the British […]

by / on May 15, 2017 at 3:07 PM /
Bank of Asia will be online-only

Bank of Asia will be online-only

BLOOMBERG NEWS – The global campaign against money laundering combined with the Panama Papers made the Caribbean islands of sun, sand and offshore banking a near no-go zone for the world’s biggest banks. So the British Virgin Islands has a […]

by / on May 15, 2017 at 7:12 AM /
Social Security wants to invest in National Bank

Social Security wants to invest in National Bank

Ronnie Skelton has declared that the Social Security Board for which he has ministerial responsibility is willing to invest in the government-owned National Bank of the Virgin Islands. He made the declaration last evening (May 11) while lawmakers debated and […]

by / on May 12, 2017 at 8:59 AM /
PREMIER: Not many other airlines were interested

PREMIER: Not many other airlines were interested

Premier Dr D Orlando Smith yesterday indicated in the House of Assembly that not many airlines were interested in the ‘opportunity’ to fly direct between the British Virgin Islands (BVI) and Miami in the United States. But he was rebuffed […]

by / on May 12, 2017 at 7:00 AM /
Lawmakers pass bill giving bank new lease on life

Lawmakers pass bill giving bank new lease on life

By Horace Mills, BVI News Online Staff In what has been presented as a rescue effort for the National Bank of the Virgin Islands, lawmakers yesterday approved a bill that will enable statutory bodies and other companies incorporated locally to […]

by / on May 12, 2017 at 6:57 AM /
Four leave Digicel – including Hull

Four leave Digicel – including Hull

By Horace Mills, BVI News Online Staff Kareem-Nelson Hull is among four people who left Digicel BVI at the end of last month, and a number of other employees are said to be expecting approval of their requests under the […]

by / on May 10, 2017 at 11:35 AM /
More than 99% of Tortola, VG now covered – DIGICEL

More than 99% of Tortola, VG now covered – DIGICEL

Digicel today announced the completion of its 4G LTE network upgrade, adding that the development has increased its coverage to more than 99 percent of the population in Tortola and Virgin Gorda – the most populated islands in the British […]

by / on May 10, 2017 at 8:12 AM /
Fraser renews effort to ‘liberate’ local companies

Fraser renews effort to ‘liberate’ local companies

Member of the parliamentary opposition Julian Fraser wants Government to declare when proposed legislation “will be brought” to the House of Assembly to “liberate” local companies from “onerous” regulations that are best applicable only to offshore firms in the financial […]

by / on May 9, 2017 at 7:58 AM /