NOVEMBER 8TH, 2019 – NOVEMBER 15TH, 2019
Website: www.suntci.com
VOLUME 15 - NO. 44
Email: sun@suntci.com
Tel: (649) 348-6838
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CIBC FCIB MAY SELL
by Hayden Boyce Publisher & Editor-in-Chief
A
Colombian billionaire reportedly wants to acquire 70 per cent of CIBC FirstCaribbean International Bank (CIBC FCIB) for US$2.2 billion. Well-placed sources told The SUN that Jaime Gilinski, the second richest man in Colombia, has formally expressed interest in taking over CIBC FirstCaribbean, which is the largest chain of banks in the English- and Dutch-speaking Caribbean, with more than US$1.2 billion in equity and US$11.5 billion in total assets up to July 2019. When contacted, Debra King, CIBC FCIB’s Director or Corporate Communications, from the Barbados-based office, did not confirm Gilinski’s interest. However, she told The SUN: “CIBC FirstCaribbean International Bank Limited is a strong, well-performing business that continues to grow across the region. As a publicly traded company in the Caribbean, there has always been investor interest in our bank. Our focus is on enhancing our long-term growth prospects while creating value for our clients, shareholders, and other stakeholders. If and when decisions are made about our business, we’ll advise our stakeholders as appropriate.” Continued on page 2
Tourism Environmental Awareness Month Commences in Turks & Caicos
T
he Turks & Caicos Islands Tourist Board in collaboration with the Ministry of Tourism, Environment, Heritage, Maritime, Gaming and Disaster Management commemorated the commencement of Tourism Environmental Awareness Month (T.E.A.M.) at a press conference on November 4, 2019 at the Office of the Premier in Providenciales. The Tourist Board will celebrate for the final year under the theme ‘Tourism Is Key, It
Starts With Me’. Senior officials of the Tourist Board including Chairman Adelphine HiggsPitter and Acting Director of Tourism Mary Lightbourne were joined by executives of the Hotel and Tourism Association to officially declare Tourism Environmental Awareness Month open. During the press conference, the Clement Howell High School was announced as the winner of the annual Tourism Song Competition. The
competition, which was issued to public and private high schools throughout the Turks & Caicos Islands, tasked students with composing an original song based on the theme ‘Tourism Is Key, It Starts With Me’. Ministry of Tourism, Tourist Board and Turks and Caicos Hotel and Tourism Association officials at press conference to officially launch Tourism Environmental Awareness Month 2019.
Graceway Supermarkets to introduce Blue Ocean Fee on paper bags December 9th will see the introduction of a Blue Ocean Fee of 5¢-10¢ on paper bags at Graceway Supermarkets in Providenciales and Grand Turk. The Blue Ocean Fee is intended to reduce the environmental impact of single-use bags by encouraging shoppers to re-use their own bags. All
money raised will be used exclusively for charitable projects or donations within the TCI by Graceway’s charitable umbrella, Graceway Communities. Why introduce a fee for paper bags?
Ken Burns of Graceway Supermarkets said: “From the outset of this initiative we asked ourselves what we wanted to achieve and the answer was we wanted to make a difference and do the right thing for the islands and the environment by eliminating single-use bags. We have had a promising result from our Staying
Blue token scheme to increase use of reusable bagsbut it is still only 10-20% of customers who re-use. We can do much better and believe a fee will increase the amount of re-use significantly, reducing the paper bags wasted every day.”
Continued on page 2
ENERGY TRANSFORMATION You Can Depend On
R-NETS: A roadmap for TCI’s energy future
Solar integration to the FortisTCI grid
Electric vehicle pilot project
www.fortistci.com | 649-946-4313
Solar + battery storage pilot project