Hello, MoneyMax101 readers! Here’s your news update.
- Lee-Chin seeking US$300m from Dom Rep government for expropriating his investment
Jamaica-gleaner.com / Caribbean – Wed Dec 20, 2017
Businessman Michael Lee-Chin has served notice that he intends to submit to arbitration a claim against the government of the Dominican Republic seeking to recover more than US$300 million in damages for expropriating his investment in that country. Lee-Chin is contending that because of the Dominican Republic’s violations of its treaty obligations, he has suffered, and continues to incur, significant financial and moral damages.
- Online registration of businesses by March 2018
Jamaicaobserver.com / Jamaica – Wed Dec 20, 2017
The Government intends to put the necessary systems in place to facilitate the online registration of businesses by March next year.
- St. Lucia launches food and rum festival in new marketing blitz
Guardian – Business / Trinidad & Tobago – Wed Dec 20, 2017
St. Lucia has launched its food and rum festival with Tourism Minister Dominic Fedee noting that the island had in the past invested heavily in the St. Lucia Jazz festival, which for many years became this island’s main tourism marketing event.
- Massy United Insurance to pay out more than US$250 million
NationNews / Barbados – Wed Dec 20, 2017
Massy United Insurance will pay out in excess of US$250 million to hundreds of customers affected by Hurricanes Harvey, Irma and Maria, which hit the Caribbean earlier this year. To date, the company has received in excess of a thousand claims from clients with damage.