PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) wants to finalize the restructuring of troubled insurance company ENNIA by December 1 of this year but it is unable to do so without approval of the so-called Outline Agreement by the Parliament of St. Maarten. Without St. Maarten’s approval, the CBCS has no other choice but to file for the bankruptcy of ENNIA, President Richard Doornbosch and Executive Director Jose Jardim write in a letter to outgoing Finance Minister Marinka Gumbs. Minister Gumbs criticized the proposed solution during a meeting of parliament that took place on June 29.…
Author: The Publisher
By Cdr. Bud Slabbaert What would happen if an entire tourism destination was dedicated to expressing tourism legacy in a new way? Wanting to explore the potential for developing a bolder, and more distinctive concept for tourism destination services and products. Conceived as model to explore future directions with innovative features and enhanced by promotion language that reflect the destination’s unique products and professional services. The new concept may be a radical demonstration of the power of an avant-garde brand that will appear as the tourism destination of tomorrow. Does it sound like a politician’s biddle-boo diddley squat? It doesn’t…
Philipsburg, St. Maarten – In a proactive response to the ongoing energy crisis that has significantly impacted the business community, particularly micro, small, and medium-sized enterprises (MSMEs), Member of Parliament Ardwell Irion and National Alliance candidate Edsel Gumbs recently engaged in a fruitful discussion with the management of Qredits. The meeting focused on the severe repercussions businesses have faced, including revenue loss due to food spoilage, waste, inability to service clients, and disruptions in operational preparations. Recognizing the urgent need for support, MP Irion and Mr. Gumbs, a former loan officer and communications manager of Qredits, championed the introduction of…
By Andre Huie PHILIPSBURG — National Alliance candidate number 17 Carlita Guy has a passion to see the St. Maarten economy thrive and return to the pinnacle it once was. An entrepreneur herself, Guy, in an interview with StMaartenNews.com, spoke passionately about the taxation inequality between small and medium enterprises and larger businesses on the island. “I don’t believe in small businesses paying TOT (turnover tax) while a business that is profiting in the 5 digits and higher can be exempted for 10 years. That is a something that has piqued my interest to bring understanding to me because as…
PHILIPSBURG — The administrative court gave the Ministry of Tourism, Economic Affairs, Transport and Telecommunication (TEATT) four weeks to take a decision about a request from EZ Air for a FACOP (Foreign Air Operator Certificate). EZ Air, doing business under the name Z Air, applied on August 2, 2023, for a FACOP but so far the ministry has not taken a decision. The Curacao-based airline, established in 2000 by Captain René Winkel, initiated two lawsuits to settle the matter; one against country St. Maarten and one against the minister of TEATT. A FACOP would enable the airline to fly to…
PHILIPSBURG — National Alliance kandidaat voor de verkiezingen op 19 augustus Terrance Rey kan bogen op ervaring aan beide kanten van de oceaan. Hij verbleef voor studies en werk 19 jaar in Nederland en keerde in 2007 terug naar Sint Maarten met academische diploma’s op zak voor studies in economie en bedrijfsmanagement. Zijn zakelijke activiteiten omvatten onder meer de publicatie van StMaartenNews.com, een vliegtuig charter bedrijf onder de naam AirStMaarten en gerelateerde ondernemingen op het gebied van e-commerce, reizen en toerisme. De politiek is Rey niet vreemd, want hij werkte van 2010 tot 2012 als Beleidsadviseur voor het Parlement van…
THE HAGUE — The Dutch desire to regulate everything becomes once more apparent from rules that apply to the amount of money citizens are allowed to have at home. The situation in St. Maarten is a lot more relaxed. There is some good news though: currently there is no limit to the amount of money Dutch citizens can keep at home. And here is the bad news: above a certain level, this money must be reported to the tax inspectorate. The value of gift certificates also counts. According to the Dutch government money kept at home falls under the household…
Willemstad, Curaçao, July 15, 2024 – As CIBC Caribbean, trading as FirstCaribbean in the Dutch Caribbean, completed the transfer of its assets to Orco Bank N.V last month, the bank made a parting gift of USD$25000 to support key marine projects in Curaçao. The bank made the donation to Seacology which is involved in two projects in Curaçao, coral restoration and sea turtle protection, through its charitable arm, The FirstCaribbean ComTrust Foundation. Chair of the foundation and Chief Executive Officer of the bank Mark St. Hill said the bank wanted to “make a tangible and lasting demonstration of our gratitude to our…
By Hilbert Haar Something stuck in my mind about the address of attorney David Comissiong at the Governor’s Symposium about the Trans-Atlantic slave trade. Related article: Comissiong makes strong case for slave trade reparations One of the elements of a reparation package, Comissiong said, was a demand for sovereignty, independence. Why? Because that was St. Maarten’s situation before Dutch slave traders took hold of the territory and made it a colony. In other words: the Dutch have to give St. Maarten back the status it had before the slave trade. On the surface, this argument makes a lot of sense.…
PHILIPSBURG — State Secretary Alexandra van Huffelen has made more than $23 million in subsidies available to St. Maarten for projects that strengthen the country’s sustainable ability to generate income. The objective of the subsidy-regulation is to contribute sustainably to the economic development of the country with a system of guarantee-regulations from the National Service Entrepreneurial Netherlands (RVO), the National Growth Fund and regulations for sustainable energy production (SDE+++). Eligible request for subsidies can come from legal entities that are governed by private law and from natural persons that run a business. The RVO executes the regulation based on a…
