Category: Finance/Business

Economic growth achieved; prices to rise generally

Economic growth achieved; prices to rise generally

While stating that the British Virgin Islands experienced an estimated 3.2 percent growth rate in Gross Domestic Product (GDP) last year, Premier and Minister of Finance Dr D Orlando Smith said he expects inflation to increase in the near future. […]

by / on January 18, 2017 at 7:55 AM /
PREMIER: Gov’t paying out more, bringing in less

PREMIER: Gov’t paying out more, bringing in less

The government has been paying out a steadily increasing amount of money on things like salaries, but has been collecting less in revenue. During his budget speech in the House of Assembly on Monday (January 16), Premier and Minister of […]

by / on January 18, 2017 at 7:14 AM /
Fahie wants court to clarify business deals

Fahie wants court to clarify business deals

Opposition lawmaker Andrew Fahie has moved to have the Court of Appeal make certain declarations regarding conditions under which members of the House of Assembly are allowed to conduct private business with central government, as well as statutory boards such […]

by / on January 12, 2017 at 9:17 AM /
Penn: We should embrace the Chinese investors!

Penn: We should embrace the Chinese investors!

Permanent Secretary in the Premier’s Office Brodrick Penn said the government is ‘right’ to be welcoming Chinese investors, especially considering the current financial climate in the British Virgin Islands (BVI). He said a large number of Small Medium Enterprises (SMEs) […]

by / on January 11, 2017 at 12:26 PM /
Social Security signs $11M contract for 43 houses

Social Security signs $11M contract for 43 houses

The state-owned Social Security Board (SSB) said it has signed an agreement to facilitate the design and building of 43 residential units at Joe’s Hill in the Road Town area, adding that the project will cost just over $11 million. […]

by / on January 11, 2017 at 7:50 AM /
No financial impact: Bishop Cline got $1K monthly

No financial impact: Bishop Cline got $1K monthly

Days after being forced to quit as Chairman of the state-owned BVI Health Services Authority (BVIHSA) Bishop John Cline has made it clear that he was doing the job merely out of love for the territory; not because of any […]

by / on January 10, 2017 at 12:18 PM /
Fully fledged body – Gov’t ramping up compliance

Fully fledged body – Gov’t ramping up compliance

The government has outlined how it will fund a fully fledged entity, which will be tasked with comprehensively ensuring the British Virgin Islands (BVI) – among other things – complies with requests by international partners for tax-related information. Legislative action […]

by / on January 3, 2017 at 8:05 AM /
Improved service for holders of many trade licences

Improved service for holders of many trade licences

Holders of multiple trade licenses will soon get a temporary opportunity to have their licenses renewed within two days, according to Karia Christopher, director of the Department of Trade, Investment Promotion and Consumer Affairs. The department further announced that the […]

by / on December 30, 2016 at 6:40 AM /
NBVI launches chequing account service

NBVI launches chequing account service

In an effort to expand the service offerings to its clients, the National Bank of the Virgin Islands (NBVI) has announced the launch of its chequing account service, which provides customers with another payment method under the bank’s portfolio. “The […]

by / on December 29, 2016 at 6:57 AM /
Public registers? BVI thinks May is friendly

Public registers? BVI thinks May is friendly

The British Virgin Islands (BVI) said it is not yet clear about the stance being taken by recently appointed UK Prime Minister Theresa May regarding public beneficial ownership registers, which would give the members of the public access to information […]

by / on December 28, 2016 at 7:41 AM /