Business

Business August 31, 2004

Speednet Gets Revved up

Speednet held a soft launch, discussing its plans to introduce competition in the telecom sector with a focus on affordable services and better technology.

Business August 31, 2004

Former CITCO Workers Create Fuss at City Hall

Former City Council workers protested at City Hall over unpaid severance pay after being terminated due to privatization of city maintenance.

Business August 30, 2004

US$225 Million Bond Sinks!

the government will not proceed with the proposed US$225 million bond due to downgrades in the country's bond ratings and an expired contract with Morgan Stanley.

Business August 26, 2004

Will Social Security Hike Contributions?

The Social Security board is considering a recommendation to increase contributions following a report by actuary Hernando Montas.

Business August 25, 2004

Godfrey & Co.’s Payday from Novelo’s Bankruptcy

Glenn Godfrey's law firm is set to receive a significant payday from the bankruptcy of Novelo's Bus Line, totaling nearly $3 million in legal fees.

Business August 23, 2004

Will SSB Spend $5 million on a Swamp?

Social Security's General Manager Narda Garcia will present on the board's investments, including a controversial land acquisition in Northern Ambergris Caye.

Business August 23, 2004

Novelo's Responds to Disgruntled Bus Drivers

Novelo's Bus Line responds to complaints from Benque Viejo bus drivers regarding employment discrepancies and potential layoffs.

Business August 20, 2004

S&P Will Downgrade Belize...Again

Standard and Poor's is set to downgrade Belize's credit rating again, citing large financing needs and issues with transparency in public finances.

Business August 20, 2004

Loan to BEC Interest Rate 8% not 24%

The government clarifies that the interest rate on a loan to Belize Estate and Company Limited is 8%, not the previously reported 24%.

Business August 20, 2004

Novelo Bus Drivers Revolt

Novelo's bus drivers in Benque Viejo threaten to strike after their buses were taken away amid concerns over job security and compensation.

Business August 19, 2004

EXCLUSIVE: Belize’s Foreign Debt Revealed

Belize's government reveals significant debts and plans to float a US$225 million bond to retire them amid concerns from international investors.

Business August 18, 2004

The Trail of The SSB Millions

A document reveals the Social Security Board's investments, highlighting significant losses and mismanagement of funds, particularly involving the DFC and student loans.