IFC takes 20% stake in First Global

(Jamaica Gleaner) First Global Bank has signed a US$20 million agreement with the International Finance Corporation (IFC), a member of the World Bank group, to expand its capital base and to provide funding for on-lending to Jamaican businesses.

British American sued for US$38M 1

(Trinidad Guardian) The US company which sold 6,000 acres of land in Florida to British American has sued the insurance company, a subsidiary of the beleaguered CL Financial group, to recover US$38.2 million in a move which could end with the lender owning British American Trinidad.

Duprey sank billion$ into Florida properties 3

(Trinidad Guardian) – CL Financial chairman Lawrence Duprey went on a shopping spree in south Florida in the last five years, buying or developing up to a dozen properties and spending an estimated US$1.5 billion—some of which would have come from local pensioners who were lured by promises of high returns from his insurance companies.

Transfer of funds glitch-free in CIB takeover

(Trinidad Express) – Despite some initial panic about the state of their investments, both big and small depositors of the failed CLICO Investment Bank had their claims processed by state owned bank, First Citizens, at the Queen’s Park Oval, Port of Spain, on Thursday.

Fidel Castro walks in Havana — Venezuela’s Chavez 13

CARACAS (Reuters) – Cuba’s ailing former leader Fidel Castro, not seen in public for almost three years, appeared on the streets of Havana and people cried when they recognized him, Venezuelan President Hugo Chavez said yesterday.

One killed, two shot and injured at boat party 2

(Jamaica Gleaner) – It was billed as a late-night party at Kingston Harbour, but the boat never left the dock, as a barrage of bullets brought the session to its premature end.

BBC Caribbean News in Brief

Call for regional banking regulation The Governor of the Barbados Central Bank has urged that a regional regulatory system for the financial sector be put in place.

Fay-Ann wins Road March by wide margin

(Trinidad Express) – It was the season for multiple wins as the National Carnival Commission (NCC) announced the winners of Carnival 2009 at the new VIP lounge at the Queen’s Park Savannah, Port of Spain, yesterday.

Scandal nixes Dominican Republic military parade 1

SANTO DOMINGO, (Reuters) – The Dominican Republic  canceled an Independence Day military parade amid public outrage  over scandals linking soldiers and police to crime and drug  trafficking.

Businessman arrested for allegedly molesting daughters 9

(Jamaica Observer) – A businessman in his 60s could be slapped with more than 20 counts of incest and indecent assault following his arrest on Tuesday on allegations that he had been molesting his three young daughters.

Colombia arrests sons of Cali cartel druglord

BOGOTA (Reuters) – Three sons of a former boss of Colombia’s Cali drug cartel have been arrested along with more than 20 other people on charges of money laundering, authorities said yesterday.

Airline crews to face scrutiny

– pilot accused of $5m customs breach (Jamaica Gleaner) – Airline crew should now expect to go through regular searches at the island’s two international airports as the Customs Department implements more stringent measures placing them under the microscope.

Rain fails to dampen Carnival spirit

(Trinidad Guardian) – Not even dark skies and intermittent showers could damper the spirits and waistlines of thousands of masqueraders who went out on Tuesday to celebrate Carnival.

World’s largest wetland threatened in Brazil

CORUMBA, Brazil, (Reuters) – Jaguars still roam the  world’s largest wetland and endangered Hyacinth Macaws nest in  its trees but advancing farms and industries are destroying  Brazil’s Pantanal region at an alarming rate.

Some mutual fund assets released in Stanford case

HOUSTON, (Reuters) – Mutual funds that are not held  in custodial Stanford Finan-cial Group accounts should be  released from a court-ordered asset freeze, an attorney  overseeing the company’s affairs and assets said in a  statement on Monday.

Colombian ‘coffins’ run cocaine beneath the waves 8

KEY WEST, Florida (Reuters) – Packed with cocaine and grimly christened “coffins,” sleek jungle-built submarines are steaming their way north from Colombia through Pacific waters to deliver tons of illegal drugs headed for the US market.

Trini-American shot dead in city 15

(Trinidad Guardian) – A Trinidadian national, a naturalised American citizen, was shot dead in Port-of-Spain on Sunday morning, all because he wined on another man’s girlfriend.

Rev Garnett Roper heads new Herald investor group

(Jamaica Observer) – The weekly Sunday Herald newspaper has been taken over by a group of investors headed by the Rev Garnett Roper, who hope to salvage the latest journal headed for Jamaica’s fearsome newspaper graveyard.