More BUSINESS In Brief
Carnival plans to build cruise port in Haiti
KINGSTON, Jamaica (AP):A Florida-based cruise line has signed a letter of intent to develop a new cruise port on a remote barrier island off Haiti's north coast.
Carnival Corporation is the parent company of Carnival Cruise Lines. It says it has signed a memorandum of understanding with Haiti for a cruise port on Ile de la Tortue.
In a statement emailed Monday, Carnival says the development would create a "tremendous economic impact" for Haitian people.
Prime Minister Laurent Lamothe says the initial investment will be US$70 million.
Because of its remoteness, the island has long been a popular spot for smugglers to organise migrant trips to the US and elsewhere in the Caribbean.
Earlier this year, Haiti announced plans to transform a southern outlying island into a high-end resort.
Trinidad central bank tries to ease forex woes
PORT-OF-SPAIN, Trinidad (CMC):
The Central Bank of Trinidad and Tobago (CBTT) says it has injected US$75 million into the financial system to support the foreign exchange market following recent complaints of a shortage of the United States currency here.
The CBTT said that the injections on Monday as with recent interventions "was timed to support the foreign exchange market and to pre-empt any significant tightening in light of anticipated lower volumes of US currency conversions by energy-sector companies in August 2014".
The Central Bank said it would "continue to monitor conditions in the domestic foreign exchange market and act proactively to ensure market order and stability".
The CBTT said that so far this year it has sold US$940 million to authorised dealers, or equivalent to 25 per cent of total supply to the foreign exchange market.
"The bank will continue to provide further support to the domestic foreign exchange market over the next few weeks," the CBTT said in a statement.
It said that as of the end of July this year, Trinidad and Tobago's net official reserves stood at US$10.1 billion, representing in excess of 12 months of import cover.