Business

The children of the late John Wallace Proctor opened a massively-expanded supermarket on Tuesday, December 13, which not only carries on the proud legacy of their father, but has introduced a top-of-the-line shopping facility in Anguilla, now the talk of everybody on the island. It is a big stride into the 21st century of business.

Caribbean Cable Communications (CCN) in Anguilla is now providing a long distance telephone service to the people of the island, thus roundly complementing its recent internet service and its long-established cable television service.

Chief Executive of Cable and Wireless, Sutcliffe Hodge, told a press briefing on Wednesday, December 7, that one of the matters he was pleased about over the past week was the degree of loyalty the company was receiving from its customers in the face of competition from other telecommunications providers.

Comp. Nation Anguilla Office Products, a joint-ownership business with partners in Anguilla and the United States, held a grand opening ceremony at its new building on the Farrington main road on Tuesday, November 22.

An Anguillian business establishment is expanding its services to meet the growing needs of the island.

The National Bank of Anguilla is to host the Second Biennial National Development Conference as part of its ongoing 20th Anniversary celebrations.

First Caribbean Bank announced on Wednesday October 12 that this year’s Unsung Hero in Anguilla is teacher Colin Johnson. In making the announcement Country Manager of the Bank, Anthony Browne congratulated Johnson and wished him luck in the regional competition.

The two second place winners in the competition held last year by the Eastern Caribbean Central Bank as part of activities for Financial Literacy Month 2004, have been presented with their cash prizes of two hundred EC dollars each.

Anguilla Properties Sotheby’s International Realty is pleased to announce to its clients and the local marketplace that the firm’s property listings will soon be part of the new sothebysrealty.com, a collection of fine homes, estates and properties from throughout the world.

OECS Market
Activity in the Regional Government Securities Market will pick up pace over the weeks ahead as the Government of St Vincent auctions a 90 day T-Bill and the Government of St Lucia comes to the market for EC$100 Million in a series of bonds issues.

OECS Market
Eastern Caribbean Gas Pipeline Company Ltd received an equity injection from the Trinidad & Tobago Unit Trust which has undertaken a multi-billion dollar project to supply gas via a pipeline from T&T to several eastern Caribbean islands. The gas pipeline represents an investment of US$550 million and promises to deliver natural gas from Trinidad and Tobago to Barbados, St Lucia, Dominica, Martinique and Guadeloupe, primarily for electric power generation.

OECS Market
The recent IMF Article IV consultation with the Eastern Caribbean noted that there has some general improvement in growth rates and fiscal balances, but added that the ECCU authorities should strengthen and maintain economic policies to place debt levels on a downward trajectory and to achieve growth that is more sustainable.

Anguilla businesses are being invited to participate in the Caribbean Exhibition and Conference in Barbados in November.

OECS Market
As expected the rise in cost of fuel at the pumps has been met by demands by taxi drivers across the region to increase prices. Strikes have already erupted in Guyana and strikes have been threatened in St Lucia.

Caribbean Cable Communications in Anguilla announced on Wednesday, September 7, that all their customers are now routed on their microwave system that makes use of the SMITCOM fibre link to Puerto Rico. Additionally, the Company has retained its satellite link to ensure redundancy should there be any problems with the microwave.

OECS Market
The well publicized soaring oil prices are now hitting home at the pumps for users across the Caribbean with prices rising in Antigua, St Lucia and set to rise in Grenada and St Kitts. Fuel taxes are an important source of revenue for OECS governments and up until recently many governments have been holding off on passing on increases, effectively reducing revenue into the government coffers and subsidizing distributors and consumers.

A press release issued by Digicel on August 24th, states that the Government of Anguilla has approved that Company’s acquisition of Cingular Wireless’ Anguilla. The Company Looks forward to offering competition and international roaming services.

Anguilla’s pioneer businessman, Albert A.R. Lake, OBE, has taken another big step forward in the development of his business and is keeping well abreast with the times and modern technology.

3. The Role of the Broker Dealer.

In a previous column we explained that all investors wishing to trade on the Eastern Caribbean Securities Exchange must do so through licensed market intermediaries, called brokers dealers and broker. This week we will look at the role of the broker dealer.

Joan Richardson who, for many years operated Anguilla Stationers and other related business ventures, has taken a big leap forward in enterprise development. On Tuesday this week, the hard-working entrepreneur opened her newly-built store on the Water Swamp main road to the cheers of family members, friends and well-wishers.