BBC Caribbean News in Brief

Receiver seeks Stanford ease The court-appointed receiver in charge of the operations and assets of the Stanford Financial Group has asked a federal judge to release some client brokerage accounts that contain $250,000 or less.

Venezuela sees no further Cargill takeovers

CARACAS (Reuters) – Venezuela said yesterday it has no plans to take over any additional holdings of US food giant Cargill after socialist President Hugo Chavez ordered the seizure of the rice plant, renewing his nationalization drive.

‘T&T economy vulnerable’

(Trinidad Express) – The collapse of a large financial conglomerate and continued exposure to plunging oil and gas prices make Trinidad and Tobago’s economy vulnerable, a new report from the International Monetary Report has shown.

Prime ministers make $20,000 deposits in Bank of Antigua

(Antigua Sun) – Prime Ministers Baldwin Spencer and Dr Ralph Gonsalves of St Vincent and the Grenadines, have attempted to further reassure the public of the soundness of Bank of Antigua Ltd (BOA) by opening, and reactivating personal chequing accounts there.

BBC Caribbean News in Brief

Council set for Haiti The UN Security Council is heading to Haiti next week to assess the country’s progress.

IMF warns crisis has shifted to poor countries

WASHINGTON (Reuters) – The International Monetary Fund on Tuesday warned that the global crisis had shifted to the world’s poorest nations and 22 countries may need as much as $25 billion in additional funding in 2009 to cope with the downturn.

Children in container hoax shuts down port

(Trinidad Guardian) – There was a complete shutdown of the Port-of-Spain Port on Tuesday as rumours spread throughout the country that a container with missing children had been discovered.

Clinton urges Brazil to return son of US man

RIO DE JANEIRO (Reuters) – US Secretary of State Hillary Clinton urged the Brazilian government yesterday to push for the return of an 8-year-old boy to his US father, who says his son was abducted illegally more than four years ago.

BBC Caribbean News in Brief

Governor consults over corruption report The governor of the Turks and Caicos Islands says he needs to consult with British ministers before releasing any findings by a commission which investigated allegations of widespread corruption.

DPP orders 14 cop arrests in file backlog clearing

(Jamaica Gleaner) – Pushing to clear the backlog of files received from the Bureau of Special Investigations (BSI), Director of Public Prosecutions (DPP) Paula Llewellyn has instructed detectives to arrest 14 of their colleagues for criminal offences, ranging from murder to assault.

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

(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

(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

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

(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.