Reducing red tape improves the business climate
PHILIPSBURG — More than half of the respondents in a Central Bank-survey into the effect of red tape on business performance and economic development said that the costs of regulatory compliance have increased More...
Central Bank projects strong economic growth
PHILIPSBURG — St. Maarten’s economy could grow by as much as 14.3 percent this year, but the Central Bank warns that the length and the intensity of the war in the Ukraine could have a mitigating effect. More...
Accountants punished for sloppy work at ENNIA
PHILIPSBURG -- The Accountants Chamber in Zwolle has kicked two accountants who approved several annual accounts of insurance company ENNIA on dubious grounds for 6 and 4 month respectively out of the registry. More...
Ansary and Co sentenced to repay more than one billion guilders to ENNIA
PHILIPBURG -- Majority shareholder Hushang Ansary has to repay insurance company ENNIA more than one billion guilders (close to $563 million) to compensate for a string of financial irregularities that negatively More...
Ansary’s attorneys: No evidence of solvency deficit at ENNIA
WILLEMSTAD — “The plaintiffs present circumstances that are incorrect, in violation of the law or otherwise simply made up,” attorneys Karan Doekhi and Mirto Murray said on the second day of the lawsuit More...
Central Bank shoots down Parman’s objections against the sale of Banco di Caribe
WILLEMSTAD — Ennia Caribe Holding (ECH) is not authorized to sell Banco di Caribe (BdC), its shareholder Parman International said in a press release, but this claim was quickly neutralized by the Central More...
United Group buys Banco di Caribe
PHILIPSBURG — Banco di Caribe has been sold to the Curacao-based United Group Holdings for an undisclosed amount of cash, the Central Bank of Curacao and St. Maarten (CBCS) announced in a press release. The More...
Central Bank-report details pandemic’s economic damage
PHILIPSBURG — Stay-over arrivals dropped by 66.7 percent in 2020 and cruise arrivals fell 77.3 percent last year, the Central Bank of Curacao and St. Maarten (CBCS) states in its annual report. “Cruise More...
Central Bank annual report: Economy (maybe) back to pre-pandemic levels in 2024
PHILIPSBURG — St. Maarten’s real Gross Domestic Product declined by 22.4 percent in 2020. Curacao saw a drop of 19.3 percent it appears from the 2020 annual report of the Central Bank of Curacao and St. More...
Central Bank considers selling Banco di Caribe
WILLEMSTAD — The Central Bank of Curacao and St. Maarten considers putting the shares of Banco di Caribe up for sale in an effort to generate revenue for the restructuring of insurance company Ennia. The More...
