~ RFHL closes acquisition of seven Scotiabank operations ~ Port of Spain, Trinidad – Republic Financial Holdings Limited (RFHL) is pleased to announce that it closed its acquisition of seven Scotiabank operations on October 31, 2019. Following receipt of approval from the Central Bank of Trinidad and Tobago, the Eastern Caribbean Central Bank and the Central Bank of Curacao and St. Maarten, and the execution of the Banking Business Vesting Orders in five of the Eastern Caribbean territories, RFHL formally acquired Scotia’s operations in Anguilla, Dominica, Grenada, St. Kitts & Nevis, St. Lucia, St. Maarten, and St. Vincent & the…
Author: The Publisher
PHILIPSBURG — After much thought and consideration, Member of Parliament Franklin Meyers has decided not to participate in the upcoming snap elections slated for January 9th 2020, but instead gearing up for following elections in the more distant future. Meyers, who recently established his own political party, the St Maarten Action Movement (SAM) decided that, instead of participating, he will support a candidate of his choice for the upcoming 2020 elections. Meyers explained: “the preparations that are necessary to organize a political party for an election is no easy feat as there are several moving parts. In the case of…
PHILIPSBURG — The Board of USP stands behind its principles of inclusion and opportunity for all. As a party, we have always embraced creativity and the promotion of young dynamic candidates, giving all an opportunity to serve their country and our record speaks for itself. We were the trend setters from our inception in 2014, with the unveiling of a board headed by a young president, and fifteen (15) young candidates, all with the desire and passion to serve their country; that has not and will not change. We firmly believe that everyone should be given an opportunity to serve…
PHILIPSBURG – The revenue St. Maarten generates could be much higher “if the increase in tax compliance as a result of restructuring the tax administration is achieved,” Raymond Gradus, the chairman of the Board financial supervision (Cft) said at a press conference earlier this week. “There is room for government revenue to grow, once the highly necessary restructuring efforts have been put into place.” Gradus said that the country expects 2019 to end with a budget deficit of 40 million guilders, way below the budgeted 71 million. The Cft-chairman briefly outlined the function and position of his organization because of…
PHILIPSBURG — MP Rolando Brison on Tuesday stressed that he wants to see police officers paid before Christmas 2019. The MP said the funds derived from the sale of St. Maarten’s shares in UTS which he facilitated through the related initiative law, has been reserved for the police officers. “So they should get paid sooner rather than later. The police officers have been waiting over a decade, this must happen now,” MP Bison said. He said although the Minister of Finance confirmed that the sale of UTS has been completed and the funds reserved, “this is still not enough for…
PHILIPSBURG — Joint concerns about the lack of prison cells and the poor quality of prison life on Sint Maarten were discussed between the Progress Committee Sint Maarten, Law Enforcement Council, Point Blanche Prison Supervisory Board and the Public Prosecutor’s Office, during a meeting held today, October 29th, 2019. Sint Maarten is in need of a proper prison with sufficient cells to ensure safety on Sint Maarten. Criminals belong in jail, not on the streets. The group will meet on a regular basis to remain informed and share developments.
~ Saint Martin advocates joint approach ~ Philipsburg – Whereas St. Maarten has done little to secure funding from the European Union, the State and Collectivité of Saint Martin successfully applied for grants, amounting to tens of millions of euros. With the support of the EU, Saint Martin intends to base the revival of its economy on a rationale of sustainable development, and wants St Maarten to join forces. Saint Martin receives grants via Guadeloupe. More than 876 million euros in European funds have been allocated to Guadeloupe over the 2007-2013 time period. In 2014 the Guadeloupe Regional Council became…
PHILIPSBURG –- The European Commission expects the 10th EDF planned for St Maarten from 2008-2013 to be finalized before the end of 2019. According to EU’s Interact, “following the blocking of diplomatic relations as a result of a border dispute and the devastation caused by Hurricane Irma”, it was not possible to administer funding for the Cole Bay Sewage Treatment Plant. The EU programme declared force majeure. The border dispute dates from November 1st, 2016. The then prime minister of St. Maarten William Marlin criticized the Prefect of Saint Martin for having abused his authority during an inspection in Oyster…
PHILIPSBURG — On Monday, October 28th, SMCP Faction Leader and Member of Parliament, Mr. Claude ‘Chacho’ Peterson dispatched two letters to the President of Parliament, Mr. William Marlin, regarding the alarming financial developments surrounding the Princess Juliana International Airport (PJIA) which has been playing out in the media lately. Copied in these letters were the caretaker Ministers Smith, Geerlings and Johnson as well as Mr. Connor of the National Recovery Project Bureau (NRPB) and his Excellency the Governor, Mr. Eugene Holiday. One letter concerned the reconvening of the Urgent Public meeting of PJIA (OV34) which was cancelled at the last…
~ Rouge et Noir investors envisions bringing back life to Philipsburg ~ PHILIPSBURG — The group of local and international investors of Rouge et Noir Casino dispelled rumors circulating in the community blaming the group of having issues with contractors and that the license to move their current location to the Super Plaza building would cause friction due to it being close to so-called sensitive buildings. In a statement issued by the group on Sunday, the investors assured the community that everything dealing with their request to move the old casino to a new location is within the confines of…
