LARGE LIME PLANT FOR CENTRAL JAMAICA.

Britain's Rugby Group and Jamaica's Clarendon Lime Co. have signed to build a US$24 million, state-of-the-art lime kiln for the bauxite/alumina industry here, reports CANA (December 9, 1998). The plant, the Rugby Jamaica Lime and Minerals Ltd., to be located at Halse Hall in Clarendon, central Jamaica, should be completed by the first quarter of 2000 with the first deliveries, to the JAMALCO bauxite plant, scheduled by mid-2000. Lime supply contracts are also being negotiated with the bauxite/alumina producers ALCAN and Alpart. In its first phase, will have an annual capacity of 125,000 tons. Industry and Investment Minister Dr. Paul Robertson says local demand for lime is now about 250,000 tons.

PETROL DEALERS BATTLE TEXACO. Members of the Jamaica Gasoline Association have vowed to do battle with multinational oil companies operating here if these companies continue to "ride roughshod" over its members, reports CANA (December 8, 1998). The association's tough stance came amidst charges by the association of a Texaco plan to impose a new operating contract with its dealers. The dispute, according to Rupert Murdoch, Texaco's administrative manager, surrounds the decision by Texaco to change from its current lease arrangements to a franchise operation. The dealers complain that the oil company is imposing its dictates on them, and has increased rental fees by 100%, a charge Texaco has denied.

SMALL BUSINESS ASSISTANCE. Small and micro entrepreneurs in Jamaica who need assistance to either set up or develop their businesses may get assistance from a recently established micro and small enterprise information center. Established by the Ministry of Industry and Investment as a pilot project, the center provides information on a range of financial and non-financial services available to the micro and small business sector. In essence it is a one-stop shop and a guide to the institutions and projects that provide support services to small entrepreneurs. \4Details: Micro and Small Enterprise Information Center, 12 1/2 Hope Rd., Kingston 10, Jamaica. Tel: [phone].

VISITOR ARRIVALS UP. As the peak winter season approaches, visitor arrivals to Jamaica have increased by 4.3% in the first 10 months of 1998 over the same period last year, according to the Jamaica Tourist Board (JTB), reports CANA (November 21, 1998). 939,518 foreign visitors came to Jamaica during the period January-October 1998, says the JTB. Foreign visitors were up 6.8% in September, and up 4.6% in October, vs. the previous year. Tourism Director Fay Pickersgill noted that the overall number of visitors from January to October stood at 1,012,720, up 2.9% from 1997. NEW HOTEL FOR NEGRIL. Almond Resorts, the Barbados-based local all-inclusive hotel chain, will spread its wings to Jamaica by the start of the new millennium, reports The Barbados Weekend Nation (November 27, 1998). Chairman and Managing Director Ralph Taylor said the chain would break ground on the five-star Almond Beach Club in Negril next April. The first guests should start checking in by December 2000.

MORE CABLE LICENSES GRANTED. As the Government continues its drive to bring order to subscriber (cable) television services, another 22 operating licenses have been granted, reports CANA (November 17, 1998). Minister Without Portfolio, Senator Maxine Henry-Wilson, said that licenses had been approved for 136 of the 241 cable zones into which Jamaica is divided, and that the island's larger population centers were now covered by licensed cable operators. These include the tourist resort towns of Ocho Rios, Montego Bay and Negril, the Kingston metropolitan area, May Pen, Linstead, Savanna la Mar, Lucea and Montego Bay. The Government has moved to regulate the untidy cable television network in recent years, pointing out that unregulated operators place the country in breach of intellectual property rights agreements.

TRANSPORT COMPENSATION CLAIM DISMISSED. Transport Minister Peter Phillips has dismissed an "outlandish" demand by a leading transport company for J$7 billion (US$200 million) in compensation from the Government, reports CANA (November 16, 1998). Ezroy Millwood, Chairman of the National Transport Co-operative Society (NTCS), told the local press his company's claim was meant to serve as compensation for the handing over to Government of two franchises to provide bus services in the Kingston Metropolitan area. The Government earlier this year announced a total revamp of the troubled and often chaotic urban transport sector operated by franchise holders with a loosely held managerial umbrella over numerous bus owners. Phillips said the Government had every intention of compensating the operators but said Millwood's claim of US$7 billion was "outlandish" and was not a basis for serious discussion.

BUSINESSMAN RESCUED FROM KIDNAPPERS. Harry Shields, a prominent local businessman, was rescued from kidnappers by police and three persons arrested in connection with the incident on November 21, reports CANA. Two men purporting to be employees of the National Water Commission, came to his home, claiming they were investigating the non-payment of water bills. They pulled firearms, robbed their victims, and took Shields way in a car. The men reportedly made contact with the family and demanded US$10,000 and J$60,000 (about US$1700) in return for Shields' safety. The police said "swift action" on their part led to the rescue of Shields and the arrest of the three persons including a juvenile.

BUSLOAD OF GERMAN TOURISTS ROBBED AT GUNPOINT. Sixteen German tourists along with their tour guide and bus driver were robbed at a rest stop, reports CANA (November 26, 1998).Police said the tourists, guests at the Dragon Bay hotel in Portland on the east coast, stopped for refreshments in the town of Port Maria. The bus was boarded by three men (one armed with a semi-automatic pistol and the others with knives) who drove it to a remote road where they robbed the occupants of jewelry, money, cameras and clothes. The robbers then escaped on foot. For the first 10 months of 1998, the number of visitors from Germany rose by 31%, from 26,394 in 1997. NEW AGGREGATES STANDARDS. All suppliers and importers of aggregates will be required to apply for registration with the Jamaica Bureau of Standards, which would investigate to insure that the material to be used meets the minimum requirements of the Standards Act. The tests to be carried out include determinations for alkali silica reactivity, grading, mechanical strength and sugar in sand. Details: (1) Wycliffe Graham, Jamaica Bureau of Standards, 6 Winchester Rd., Kingston 10, Jamaica. Tel: [phone]; (2) Paul Manning, Ministry of Mining and Energy, Mines and Geology Division, Hope Gardens, Kingston 6, Jamaica. Tel: [phone].

ROAD CONCESSIONS PROGRAM. US$500,000 is being sought from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) for an Institutional Strengthening Road Concessions Program (TC9807390), who components have not yet been determined. Consultants would help with research and preinvestment studies. Details: Ministry of Public Utilities, Transport and Energy, 36 Trafalgar Rd., Kingston 10, Jamaica. Tel: [phone]. Fax: [phone].

TWO CHASE BANK BRANCHES PURCHASED. Trinidad's Royal Bank has bought out two Chase Manhattan Bank branches in St. Maarten, reports The Trinidad Express (December 2, 1998). This follows the purchase of 100% of the equity of First National Bank of Aruba NV the week before. A member of RBTT Financial Group -- Antilles Banking Corp. (St Maarten) NV -- will acquire the business of the Chase Manhattan St. Maarten branch operations. Chase Manhattan has two branches in St. Maarten; one in Philipsburg and the other in Mullet Bay.

With the latest acquisition in St. Maarten, the Royal Bank financial group now has seven commercial banking subsidiaries with a total of 43 branches dispersed throughout the Caribbean.

US$45 MILLION FROM WORLD BANK. Nicaragua has received a US$45 million credit from the International Development Association (IDA), the soft loan window of the World Bank, to help finance the Third Social Investment Fund, to support the Government's poverty alleviation efforts, as well as its immediate emergency and reconstruction needs in the wake of Hurricane Mitch. Details: Monica Echeverria-Cota. Tel: [phone]. Email: [e-mail] TELECOMMUNICATIONS SECTOR REFORM. US$7 million is being sought from the World Bank's International Development Association (IDA) for Telecommunications Sector Reform, whose objectives are to strengthen the policy and regulatory environment, and improve access to services. Details: Ing. Raul Barrios, Empresa Nicaraguense de Telecomunicaciones (ENITEL), Managua, Nicaragua. Tel: [phone], Ext. 72130. Fax: [phone]. And: Ing. Mario Montenegro, Instituto Nicaraguense de Telecomunicaciones y Correos (TELCOR), Managua, Nicaragua. Tel: [phone]. Fax: [phone]. POWER GENERATION PRIVATIZED. The Government of Panama privatized four power generation companies. Two U.S. firms and a Canadian/U.S. partnership acquired a substantial block of shares of these companies. With the acquisition of the shares these companies will assume management control of the firms:

. Enron International, based in Houston TX, acquired 51% of the shares of the Bahia Las Minas thermoelectric complex. Amount offered was US$91.7 million. AES Corp. of Arlington VA, acquired 49% of Chiriqui and Bayano hydroelectric plants. Price offered was US$97.1 million. Americas Generation Corp., an alliance of Coastal Corp. of Houston, TX, and Hydro Quebec of Quebec, Canada, paid US$118.1 million for 49% of the shares of La Fortuna hydroelectric plant. Total revenues from this sales reached US$301.5 million; . This transaction completes the privatization of the Hydraulic an Electrification Resources Institute (IRHE). Two months ago IRHE sold three power distribution companies, one to Constellation Power of the U.S. and two to Union Fenosa of Spain. The Government of Panama will only retain control of the Transmission Company; . Following is a description of the power generation companies sold:

. Bahia Las Minas. Installed capacity: 295 MW. Net generation: 600 GWH. Location: Province of Colon; . Bayano S.A. and Chiriqui. Installed capacity: 150 MW (Bayano) and 100 MW (Chiriqui). Net generation: 1000 GWH. Location: Province of Panama and Chiriqui; . Fortuna S.A. Installed capacity: 300 MW. Net generation: 1,400 GWH. Location: Province of Chiriqui; . Panama has a generation capacity of 907 MW. Hydroelectric generation accounts for 61% of this total and thermoelectric for the remaining 39%. No other local energy sources exist in Panama. Thermal energy experiments are currently taking place in some rural areas; . The privatization of Panama's utilities is an important component of President Perez Balladares economic program. The telecommunications company was partially sold to Cable & Wireless of England two years ago, and the water company is targeted for privatization in early 1999.

US$61 MILLION FOR PUBLIC POLICY REFORM. The World Bank has approved a US$61 million loan to support Panama's Public Policy Reform Program, which aims to lay the groundwork for rapid growth in a stable macroeconomic environment and to significantly reduce poverty and inequality. Details: Monica Echeverria-Cota. Tel: [phone]. Email: [e-mail] NATURAL RESOURCES MANAGEMENT. US$2.1 million is being sought from the Japan Special Fund of the Inter- American Development Bank (IDB) for an Interoceanic Region Natural Resources Management Program (TC9806438, TC9808124, and TC9806491). Consultants would help in project development, planning and policy formulation, as well as to prepare basic feasibility studies and carry out institutional strengthening activities. Details: Ministerio de Agricultura, Autoridad de la Region Interoceanica, Apartado 5390, Panama 5, Panama. Tel: [phone], 693-122; Fax: [phone]. And: IDB. Tel: [phone]. REGUS OPENS OFFICE. Regus, a European operator of business centers, opens its first Central American offices in Panama in January, at the World Trade Center, Marbella, in Panama City's central business district. Regus offers fully-furnished and equipped offices, and support services on short-term flexible leases. Regus says it plans to open more than 100 new centers in Latin America over the next few years. Details: Joel Perez, The Jeffrey Group, Miami FL. Tel: [phone].

STATEHOOD OPTION REJECTED. Puerto Ricans on ; December 13 rejected Gov. Pedro Rossello's call to petition the U.S. Congress for statehood, with a majority voting for . It was the second time in six years . It was the second time in six years that Puerto Ricans voted down statehood in a plebiscite called by Rossello and his New Progressive Party (NPP). Not only did the pro-statehood forces lose the election, but results suggest that the movement has not gained much ground since the last vote in 1993 . The fifth option, supported by advocates of the current commonwealth status, had 50.2% of the votes, vs. 46.5% for statehood and 2.5% for independence. In the 1993 plebiscite, also sponsored by Rossello's Government, statehood garnered 46.3%, finishing behind commonwealth, which garnered 48.6%. In the only previous status referendum, in 1967, commonwealth won 60% of the vote, vs. 39% for statehood and 1% for independence; . The defeat of statehood was a bitter blow to Gov. Rossello and his incumbent pro-statehood New Progressive Party, which put the full force of the Government's public relations machinery behind the effort. Gov. Rossello had also been criticized for insisting on holding the referendum in the wake of Hurricane Georges, which caused major damage in Puerto Rico, and which has still left its scars; . Commonwealth advocates were euphoric over the result, and said it meant they would press ahead in dialogue with Washington to enhance the current status, which went into effect in 1952, but has been criticized as maintaining remnants of a colonial relationship, dating back to the U.S. military invasion of the island in 1898; . Puerto Ricans have been U.S. citizens since 1917. They pay no federal taxes, and therefore do not vote in U.S. national elections. However, Puerto Ricans may travel freely between the island and the 50 U.S. states. The island Government enjoys local autonomy, while Washington handles foreign affairs, defense, postal service, and currency. Puerto Ricans have also been subject to the U.S. military draft when it was in effect; . The victory of "none of the above" also boosted the standing of San Juan Mayor Sila M. Calderon, a major figure in the pro-commonwealth Popular Democratic Party. She is viewed as a likely candidate for Governor in November 2000. LIFE AFTER 936. After the Section 936 Federal tax incentive is gone, new businesses are unlikely to locate in Puerto Rico, but those that are here already may expand and will likely reorganize to improve their bottom line, according to expert accountants and tax attorneys, reports The San Juan Star (November 24, 1998): . These were among the conclusions a two-day conference, "Puerto Rico: Dealing with the Major 1997 Legislative Changes and Other Issues that Affect 936 Operations." According to James Fuller, co-chairman of the conference panel, and a partner with Fenwick & West in Palo Alto, Calif., "most of those companies that are here want to stay, but probably no one new will come"; . Companies that opt to stay after the Section 936 phaseout is completed in 2006 will most likely choose to become a Controlled Foreign Corp. (CFC), the panel said. Section 936, repealed in 1996, is being phased out over a 10-year period. A CFC can organize as a holding company in more lenient tax environments (the Cayman Islands, for example), which do not penalize companies for moving their revenues around to different countries. In that way, the CFC can do business in Puerto Rico, and move its money around the globe; . Other options include a local Puerto Rico corporation, which is more limiting. But local tax incentives will not do a company much good unless it is going to expand, according to the experts. HURRICANE LEFT BIG CLEAN-UP BILL. The recovery from Hurricane Georges' visit to Puerto Rico on September 21, has become one of the costliest disaster cleanups in U.S. history, says the Federal Emergency Management Agency, reports CANA-Reuters (December 12, 1998). Georges, the worst hurricane to hit Puerto Rico in 70 years, killed three people and damaged 170,000 homes. "FEMA expects to spend around US$1 billion (in Puerto Rico)," says Glenn Garcelon, FEMA's deputy federal coordinating officer in Puerto Rico. By December 9, more than 380,000 individuals in Puerto Rico had applied for assistance and more than $315 million in emergency housing assistance alone had been provided. Garcelon said 65,000 houses had lost their roofs. 100% of customers lost electrical power.

FBI ARRESTS MAYOR FOR EXTORTION, BRIBERY. A prominent member of the governing New Progressive Party has been arrested on federal extortion and bribery charges, say officials of the Federal Bureau of Investigation (FBI), reports CANA (November 26, 1998):

. The FBI said the Mayor of Toa Alta, Angel Rodriguez, allegedly negotiated a US$2.5 million kickback in return for clean-up after Hurricane Georges. Rodriguez allegedly tried to get the Mississippi-based Jesco Construction Corp. to pay him the money in exchange for a contract with his municipality. FBI agents recorded and videotaped an accomplice allegedly receiving a US$20,000 advance from Figueroa, who had secured the money from Jesco officials. Jesco went to the FBI after the alleged attempt to bribe and extort them; . Ironically, Rodriguez had earlier publicly accused Department of the Family Socioeconomic Development Administrator Mario Acevedo of mismanaging US$80 million in emergency funds, charging that families in his city did not receive the help.

PLANT TO PROCESS 33% OF ISLAND'S WASTE. The Municipality of Caguas has signed a contract with Caribe Waste Technologies (CWT) to build a Waste-To-Energy (WTE) facility to help face Puerto Rico's solid waste crisis, reports Caribbean Business (December 3, 1998). The project (reported cost: US$million) will be privately financed. Caguas will receive US$200,000 annually for 30 years for rent, and tonnage fees for processed waste. Mayor Miranda Marin says the plant will be able to process between 438,000 and 1.1 million tons of garbage per year. The energy produced will be sold to the Puerto Rico Electric Power Authority (PREPA).

US$110 MILLION COMPLEX PLANNED. The land adjacent to the Caribe Hilton Hotel in San Juan will be developed into a US$110 million complex with five commercial, residential and tourism projects, say officials from Doral Securities, which is financing the project in conjunction with Popular Securities, reports The San Juan Star (November 10, 1998). Hilton International bought the hotel from the Government's Hotel Development Corp. for US$80 million, and purchased the land as part of the deal. The five projects will include 150,000 square feet of retail and entertainment space, a 40-unit condo, an 80-unit condo hotel, a tower of 175 new rooms, and possibly a second tower with a 100-unit timeshare unit, says Hector del Rio, director of banking for Doral Securities. EC$10.5 MILLION FLOOD DAMAGE. Flash flooding left tons of sand and debris in the capital Basseterre, reports CANA (December 1, 1998). The flooding damaged Government buildings, business houses, private homes, and eroded roads and bridges throughout the island. Cleanup costs were estimated at EC$10.5 (US$3.9) million. At least 100 buildings in the commercial area were affected, and 82 vehicles destroyed or damaged. The sugar industry also suffered from the flooding.

BRITISH AID FOR HOSPITAL REPAIR. Britain is providing 225,000 pounds sterling (US$373,500) to help rehabilitate the main hospital in St. Kitts & Nevis extensively damaged by hurricane Georges in September, reports CANA (November 18, 1998). The Bridgetown-based British High Commission said funding for the Joseph N. France General Hospital is being made available through the Department for International Development Caribbean, which also pledged US$25,000 to the Caribbean Disaster Emergency and Response Agency (CDERA) to organize a Rapid Needs Assessment Mission in the aftermath of the hurricane.

A total of 410,000 pounds sterling (US$680,600) has been earmarked for the hospital project will be managed by the Pan American Health Organization (PAHO). Other donors include the European Commission Humanitarian Office and the Netherlands Embassy in Trinidad.

EC$40 MILLION LOAN FOR BANANA GROWERS DEBT. The St. Lucia House of Assembly has approved the borrowing of EC$40 million (US$14.8 million) from a consortium of commercial banks to service the debt of the St. Lucia Banana Growers Association (SLBGA), reports CANA (November 26, 1998). Prime Minister Dr. Kenny Anthony said the decision to absorb the debt was part of an original plan to change the production and marketing arrangements of the local banana industry, and transfer the ownership and management of the industry to farmers. Dr. Anthony said the debt was created by the former United Workers Party (UWP) Government and included amounts which former Prime Minister Sir John Compton said were stolen from the banana association.

GOVT. TO SELL BANK SHARES. Government in February will begin selling to the public 40% of its shares in the National Commercial Bank (NCB), reports CANA (December 8, 1998). Prime Minister Dr. Kenny Anthony said the bank's share capital, which stands at EC$22 million (US$8.1 million) will be increased to EC$36 million (US$13.3 million) in order to facilitate the issue of the shares. The bank is 100% owned by Government and the minimum offer is EC$100 (US$37.04) for 20 shares and the institution plans to issue gift certificates this Christmas which can later be converted into shares.

TRAVEL WARNING. The Government of St. Vincent & the Grenadines, and the Regional Security System (an organization of the security forces of seven Eastern Caribbean states), supported by U.S. authorities, are conducting a joint regional exercise including marijuana eradication. Rumors of possible retaliatory acts by marijuana producers against those involved in the exercise and against U.S. citizens in general, have circulated throughout St. Vincent & the Grenadines:

. U.S. citizens resident in or traveling to St. Vincent & the Grenadines are advised to exercise caution and avoid any areas in which the eradication efforts take place as well as the nature trails leading to the Soufriere volcano and other nature areas, according to a December 12, 1998 advisory by the U.S. State Department; . U.S. citizens are advised to avoid any crowds that may gather and demonstrations that may take place in opposition to the efforts of the Government to reduce the domestic cultivation of marijuana. Details: Consular Section of the American Embassy in Bridgetown, Barbados. Tel: [phone] during business hours or [phone] after normal business hours.

UNIONS WANT MINIMUM WAGES REVIEWED. Hundreds of workers here who have been paid at the legally-recognized minimum level since 1989 are still receiving those wages today, says Noel Jackson, General Secretary of the National Labor Congress, reports CANA (November 17, 1998). Jackson said the wages council last met in 1989, although legislation provides for a meeting every two years to review the minimum wage for industrial workers, which is set at EC$20 (US$7.40) a day. The council in 1989 also set a minimum monthly wage for live-in domestic workers of EC$125 (US$46.25), while domestic workers who did not stay in at their work place were allowed EC$200 (US$74) a month. Agricultural workers received EC$18 (US$6.66) a day, while shop assistants or clerks in retail and other business outlets were granted a minimum monthly wage of EC$330 (US$76).

GOVT. TO START REPAYING MILLIONS. The Government of St. Vincent & the Grenadines will begin repaying a controversial multi-million dollar shipyard/marina project loan early in 1999, says Finance Minister Arnhim Eustace, reports CANA (November 17, 1998):

. The money is owed to a consortium of European financial institutions -- including the German Bank West LB -- to which the Government provided a guarantee to facilitate the construction of a shipyard and marina project at Ottley Hall, outside the capital, Kingstown; . The project, billed to attract some of the world's most expensive yachts, failed when the key figure involved in it, an Italian businessman, left the state and his company was declared bankrupt. The Government found itself forced to honor the guarantee on the original US$50 million loan when the Italian investors defaulted on the loan. Eustace said the decision to start payments followed conclusion of negotiations between the lending institutions and the Governments of Italy and St Vincent & Grenadines on settlement of the debt, which stood at US$67 million at mid-1998; . The agreement provides for: forgiveness of US$30 million of the debt; sale of the shipyard (valued at US$5 million), with the takings being offset against the remainder of the debt, an extension of the period of repayment from 10 years to 20 years and a reduction of the interest payments from nearly 7% to 5.5%. Once the agreement is signed, the Government's guarantee will be removed and a US$30 million judgment obtained against the Government by the creditors at the British Privy Council will be set aside; . The Ottley Hall shipyard and marina was touted by Government as its flagship project for economic diversification of the country. The Government, which held a 49% stake in the project, provided a guarantee on the original loan for US$50 million obtained from a consortium of European financial institutions. Dr. Aldo Rolla, the Italian who was spearheading the construction on contract, left the state before completing the project. His company was later declared bankrupt. When the investors failed to honor the loan, West LB took the Government to court in England and won a judgment against it.

MARIJUANA GROWERS STAGE PROTEST. A group of resolute marijuana farmers and supporters have staged a picket outside the financial complex which houses the offices of Prime Minister Sir James Mitchell, reports CANA (November 27, 1998). They were protesting the planned eradication of their crops in the country's mountainous interior by a U.S.-backed force. "Give us jobs or leave us alone", "Stop the advantage on small nations, Mr. America", "Yankees stay home, clean up your front-yard" and "America plants more ganja than the entire Caribbean combined" were among the messages carried on placards, some of which were stuck along the wire fencing surrounding the complex. Demonstrators circulated a flyer giving six reasons "why we should stop the Americans from destroying our ganja plantation and hurting our farmers". IDB APPROVES LARGEST LOAN FOR SURINAME. The Inter-American Development Bank (IDB) has approved a US$30 million loan, its first policy-based sector loan to Suriname and the largest loan ever for the country, reports Xinhua News Agency (November 25, 1998). The resources will be used to support a reform program that will stimulate growth and reduce excessive governmental costs. The major objective of the program is to "promote sustainable economic development and market-driven resource allocation by improving the country's economic policy and institutional framework," says the IDB.

TELECOM SECTOR CONSULTANTS. The Government has received financing from the Inter-American Development Bank (IDB) to assist in positioning the state-owned telecom company, Telesur, in a market that has opened to private firms. Consultants are invited to prequalify to analyze Telesur's operations. Details: Chief, Finance & Basic Infrastructure Division 3, Stop E-0805, IDB, 1300 New York Ave. NW, Washington DC 20577. Tel: [phone]. Fax: [phone]. Email: [e-mail] PETROTRIN SEEKS PARTNERS. Following the completion of a US$355 million refinery upgrade and the appointment of a new president, Petrotrin, the state-owned oil company, has announced plans to expand its foreign market share and diversify its business. In order to do so, it is seeking venture partners, according to a November 19 report from the American Embassy here, details of which follow:.

. On November 1, 1998, Rodney Jagai, formerly vice president in charge of operations services at Amoco Energy Co. of Trinidad & Tobago, was appointed president of Petrotrin. At his welcoming ceremony, Mr. Jagai said his vision for the company's future which includes expanding into new markets and enterprises; . To achieve these objectives, Mr. Jagai cited the need for venture partners stating, "in order to become a dominant player we must make ourselves competitive at all levels as an energy company. Mr. Jagai also said that Petrotrin will eventually become a public company with shares sold on the stock exchange; . Petrotrin chairman Donald Baldeosingh recently elaborated on the company's plans. To increase crude output, he said the company would seek upstream opportunities in India, Gabon, South Africa, barbados, and Suriname. He also disclosed that the company expects to extend its export market to include Venezuela, Suriname, Barbados, Cuba, Haiti, the Dominican Republic and Brazil; . He also expressed interest in developing a co-generation plant to supply electricity to its refinery and to a proposed industrial site on their Point-a-Pierre property where their refinery is located. "While we need partners and allies willing to share risks or technology with us, we also want partners who are willing to share their markets"; . Petrotrin's product line includes liquefied petroleum gas, aviation gasoline, motor gasoline, kerosene/avjet, gas oil/No. 2 fuel oil, lube oils, fuel oils, sulphur, and bitumen. The company operates the only refinery in Trinidad & Tobago and enjoys a significant market share in the Caribbean. Year to date total sales are 117.4 mbpd with refinery throughput at 123.2 mbpcd and total crude oil production at 53.8 nbopd. Interested parties may contact: Anthony Deyal, Corporate Communication Manager, Tel: [phone], Fax: [phone].

ENERGY SECTOR OPENING UP TO PUBLIC. Energy Minister Finbar Gangar said in parliament that the Trinidad & Tobago Government was making available to citizens a 10% stake in any new foreign investment in the energy sector, reports CANA (November 25, 1998). Gangar said that the shareholding issue was "one mechanism for public participation in the industrial sector of Trinidad & Tobago":

. Such a provision, he added, was contained in the recently-signed US$1.6 billion dollar smelter plant accord between Norsk Hydro and the Government. Gangar said that there was currently in the sector a "dysfunctional arrangement" where the major players in the mega projects were foreign with the exception of CL Financial, a local conglomerate here; . The Energy Minister said that where the financial fortunes of the National Gas Co. allow it, that company would hold the 10% share holding in trust for the public "in all these mega gas-based projects to be divested at the appropriate time". He said shares in National Quarries and National Petroleum would be put on the stock exchange during the first half of 1999; The Government will explore, he added, the possibility of divesting in the same manner Petroleum Co. of Trinidad & Tobago (Petrotrin), a much bigger local company, but with loans from various multi-lending agencies.

FOUR COMPANIES ENTER GAS ACCORD. Four companies have signed an agreement aimed at tapping the commercial potential of three gas fields located some 40 kilometers off Trinidad's northern coast, reports CANA (December 10, 1998):

. The companies signing the agreement are the state-owned Petroleum Co. of Trinidad & Tobago (Petrotrin), British Gas Trinidad & Tobago Ltd. (BGTTL), Agip Trinidad & Tobago Ltd., a subsidiary of ENI, the Italian Oil & Gas Co. and Deminex Trinidad Petroleum; . The gas fields named Hibiscus, Chaconia and Poinsettia extend over Petrotrin's Block 9 acreage and the North Coast Marine Acreage One (NCMA/1) held jointly by BGTTL, Agip and Deminex. Petrotrin Chairman Donald Baldeosingh said the signing "represents the start of commercialization of natural gas from the North Coast area of Trinidad. Until now, this was restricted to the onshore, Gulf of Paria and East Coast areas of Trinidad." It is estimated that some three trillion cubic feet of natural gas exists within the three fields.

HEALTH SECTOR REFORM. Government has received funds from the Inter-American Development Bank (IDB) to partly finance its Health Sector Reform Program (Loan No. 937/OC-TT). Part of the proceeds will be applied to the provision of design and construction supervision services for the rebuilding/renovating/extending/adapting of several health and outreach centers throughout the Central and Southwest regions. Prequalification deadline is January 18, 1998. Details: Mr. Ronald Tsoi-a-Fatt/Dr. Harry Singh, Central Regional Health Authority, Bldg. 39, Eric Williams Medical Science Complex, Uriah Butler Highway, Champ Fleurs, Trinidad & Tobago. Tel: [phone]. Fax: [phone]. Email: [e-mail]. And: Mr. Anthony Cummings/Mr. Trevor Hewitt, Southwest Regional Health Authority, Administrative Center "On the Hill", Paradise Pastures, Independence Ave., San Fernando, Trinidad & Tobago. Tel: [phone]. Fax: [phone]. Email: [e-mail] BARBADOS-TRINIDAD ALLIANCE. Neal & Massy (the Trinidad-based regional conglomerate) and Barbados Shipping & Trading (BS&T) have struck a strategic alliance in which both will acquire a 20% stake in each other, reports The Express (November 26, 1998). WATER PLANT REFURBISHMENT. More than TT$100 million will be spent on the refurbishment of the Caroni/Arena Water Plant as part of the Mission 2000 South Water Project, which is intended to increase the water capacity of the plant by 70 milliliters per day, according to project director Kevin Wotherspoon, reports The Trinidad Guardian (November 23, 1998). PARROT CAY OPENS. The 56-room Parrot Cay resort, the only property located on a 1,000-acre island, opened here on December 15, reports Travel Weekly (December 7, 1998). A "holistic" spa is currently being designed, and is expected to be built by spring. Details: 800-628-8929. CASINO LICENSE ISSUED. The Virgin Island Casino Control Commission has voted to grant the first casino hotel license in the U.S. Virgin Islands to the 200-room Divi Carina Bay Resort, opening next spring on St. Croix, reports Travel Weekly (December 7, 1998).

. Aruba(florin)-- 1.79 . Barbados(dollar)--2.0113 . Bahamas(dollar)--1.00 . Belize(dollar)--2.00 . Bermuda(dollar)--1.00 . Cayman Islands(dollar)--0.82 . Costa Rica(colon)--232 . Cuba(peso)--21 . Dominican Republic(peso)--14.00 . Eastern Caribbean(dollar)--2.70 . El Salvador(colon)--8.755 . Guatemala(quetzal)--6.03 . Guyana(dollar)--140 . Haiti(gourde)--16 . Honduras(lempira)--13.2 . Jamaica(dollar)--34.00 . Netherlands Antilles(N.A. Guilder)--1.79 . Nicaragua(gold cordoba)--10 . Panama (balboa)--1.00 . Suriname(guilder)--410 . Trinidad/Tobago(dollar)--6.28 Note: These currency exchange figures, versus the U.S. dollar, should be used as a rough guide only, since in some cases they fluctuate daily. More than one rate means, in the following: (1) official; (2) parallel/financial, an alternative authorized rate for certain specified transactions; (3) free/black market, which is a rough approximation, since in some countries they are clandestine.

Caribbean UPDATE derives its information from numerous sources, including personal contacts with key government and corporate officials. We receive reports and press releases from international agencies, governments, corporations, and chambers of commerce. We subscribe to the daily service of Caribbean News Agency (CANA), based in Bridgetown, Barbados, which provides coverage of significant news in the region. We scan various major trade publications in fields that include tourism, manufacturing, agribusiness, and shipping. We also receive numerous publications from, or about, the region. These include: The San Juan Star and Caribbean Business (Puerto Rico); The Tico Times (Costa Rica); Central America Report (Guatemala); Caribbean Report (London); U.S.-Cuba Trade & Economic Council (New York, N.Y.); Washington Report on the Hemisphere (Washington, D.C.), Multinational Monitor (Washington, DC); Island Properties Report (Woodstock, VT); Lagniappe Letter (New York, N.Y.); Aviation-Latin America & Caribbean (Miami FL); Latin American Telecom Report (Washington DC); Travel Weekly (Secaucus NJ). (Readers are invited to submit information on relevant activities, at least 45 days prior to date of your activity. Mail to: Caribbean UPDATE, 52 Maple Ave., Maplewood, N.J. 07040. U.S.A. Fax: [phone]. Some dates are tentative, all are subject to change; readers are urged to reconfirm prior to making travel plans. If you would like Caribbean UPDATE distributed at your meeting or conference, please contact us at least 10 days in advance of the event: Tel. [phone], or 973-762-1565. Fax: [phone].

January 6-9:

January 6-9: Bahamas Wahoo Fishing Championship, at Abaco Beach Resort & Boat Harbor, Abaco, Bahamas. Details: Bahama Out Islands Promotion Board. Tel: [phone].

January 11-12:

January 11-12: Latin America & Caribbean Hotel & Tourism Investment Forum, Los Angeles CA. (see Jan. 12-14 listing for source of details.)

January 12-14:

January 12-14: 14th annual Hotel Industry Investment Conference, Century Plaza Hotel & Tower, 2025 Ave. of the Star, Los Angeles, Calif. Details: UCLA Extension Dept. of Business & Management, 10995 Le Conte Ave., Suite 517, Los Angeles CA 90024-2883. Tel: [phone]. Fax: [phone]. January 13-15:

January 13-15: Caribbean Hotel Association annual "Marketplace '99," Roberto Clemente Coliseum, San Juan, Puerto Rico. 2,000 delegates (representing airlines, hotels, travel wholesalers, journalism, hotel & restaurant suppliers) are expected to attend. CHA groups 35 Caribbean countries, 1,100 hotels and 700 companies related to the tourism industry. Details: 787-725-1839. Fax: [phone]. Email: [e-mail] January 13-21:

January 13-21: Caribbean International Martial Arts Games, Renaissance Jamaica Grande Hotel, Ocho Rios, Jamaica. Details: Peter Martin Associates, 1200 High Ridge Rd., Stamford CT 06905. Tel: [phone]. Fax: [phone].

January 18-22:

January 18-22: International Conference of Economists on Globalization and Development Problems. Havana, Cuba. Some 600 advocates and critics of neo-liberalism, delegates from the World Trade Organization, the World Bank and the International Monetary Fund have been invited to this meeting. The President of the Cuban Economists Association (ANEC), Roberto Verrier, said noted that representatives from some 150 important specialized publications from Europe and the Americas are expected to attend.

January 20-21:

January 20-21: Internet Telephony. Latin America 99 World Congress. Hotel Intercontinental, Miami FL. Details: 800-882-8684. Website: www.iqpc.com. Email: [e-mail] January 20-23:

January 20-23: Bahamas Wahoo Fishing Championship, at Treasure Cay, Abaco, Bahamas. Details: Bahama Out Islands Promotion Board. Tel: [phone].

February 3-7:

February 3-7: Reggae Sunsplash '99, Ocho Rios, Jamaica. One of Jamaica's top musical festivals. Details: Jamaica Tourist Board. Tel: [phone]. Email: [e-mail] February 4-10:

February 4-10: Pineapple Cup Yacht Race, Montego Bay, Jamaica. Now in its 37th year, the race begins in Ft. Lauderdale, Fla. and ends in Montego Bay. Details: Montego Bay Yacht Club. Tel: [phone].

February 9-14:

February 9-14: 9th annual Group of Fifteen (G-15) Summit, in Montego Bay, Jamaica. A trade show, organized by Jampro (Jamaica's economic development agency), the Jamaica Manufacturers' Association and the Jamaica Exporters' Association is being planned to coincide with the event. Member countries of the G-15 are: Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Jamaica, Kenya, Malaysia, Mexico, Nigeria, Peru, Senegal, Venezuela and Zimbabwe. Details: Claudette Chin, Jampro, 35 Trafalgar Rd., Kingston 10, Jamaica. Tel: [phone].

February 18-21:

February 18-21: Banking and Financing Services Exposition on and Seminar, Santo Domingo, Dominican Republic. A yearly event started in 1997. Contact: Dr. Jose Serulle Ramia, President, Fundacion Ciencia y Arte, Inc., Benigno Filomeno Rojas No. 353, Santo Domingo, Dominican Republic. Tel: [phone] and 535-5890. Fax: [phone].

February 22-23:

February 22-23: Latin American Health Care Reform: Pursuing Opportunities in the New Era of Market Openings. Conference in Miami, FL. Attendees will receive a hands-on analysis of the key issues affecting health care participants in the region. There will be analyses of financing and investment strategies companies are adopting, and studies of how the major players are dealing with the new market conditions, including how they are forming alliances and partnerships to maximize the opportunities. Details: Latin American Information Services, Inc. 159 West 53rd St, 28th fl, New York, NY 10019. Tel: [phone]. Fax: [phone]. Email: [e-mail] February 22-24:

February 22-24: "Latin America in Crisis." 5th annual conference on Latin America. Dealing with plummeting capital markets, street protests, pricing structure, joint ventures, deteriorating credit markets. Embassy Suites Hotel, Miami FL. Details: 610-408-9575. Email: [e-mail] March:

March: Expo Ayala (dairy cattle show), San Jose, Costa Rica. Details: Mr. Erick Montero, President. Tel: [phone]. Fax: [phone].

March:

March: Annual agricultural trade show, Midcenter Shopping Mall, Chaguaramas, Trinidad. Details: U.S. Embassy, Port of Spain. Tel: [phone]. Or Email: [e-mail] April:

April: Expo-Hotel '99. Hotel equipment, supplies and services trade show, San Jose, Costa Rica. Details: Ms. Ana Gabriela Alfaro, Executive Director, Camara Costarricense de Hoteles (CCH), Apdo. 8422-1000, San Jose, Costa Rica. Tel: [phone]. Fax: [phone]. Email: [e-mail] April:

April: Exposicion y Feria Lechera de San Carlos (dairy cattle show), Costa Rica. Details: Mr. Jose Alberto Arroyo, Executive Director, Comite Expo San Carlos, PO Box 7-4400, Ciudad Quesada, Alajuela, Costa Rica. Tel: [phone]. Fax: [phone].

April:

April: Suri Flora, trade show specializing in horticultural/agricultural products & supplies, in Suriname. Details: Mr. Robert Ameerali, President, Surinamese Chamber of Commerce. Tel: [phone]. Fax: [phone].

April 4-11:

April 4-11: Carnival in Jamaica. Now in its 8th year. A week-long musical and cultural festival. Details: Jamaica Tourist Board. Tel: [phone]. Email: [e-mail] April 21-23:

April 21-23: Caribbean Hotel & Tourism Investment Conference, Santo Domingo, Dominican Republic. Tel: [phone].

April 21-24:

April 21-24: 4th Congress of the Caribbean Medical Association (CMA) in Havana, Cuba. Hosting the event is Cuba's Center of Medical-Surgical Investigations (CIMEQ). May:

May: Aruba Travel Exposition (APEX), Oranjestad, Aruba. Tel: 800 TO ARUBA.

May:

May: Exposicion Ganadera Monteverde (dairy cattle show), Puntarenas, Costa Rica. Details: Juan Jose Monge, Coordinator, Planta de Productores de Monteverde, PO Box 10165-1000, San Jose, Costa Rica. Fax: [phone].

May 24-28:

May 24-28: Expotur, Tourism Industry trade show, San Jose, Costa Rica. Details: Ms. Xiomara Murillo, SJO 3445, PO Box 025216, Miami FL 33102-5216. And: Mr. Pablo Solano, Event Director, Tel: [phone]. Fax: [phone]. Email: [e-mail] June 14-18:

June 14-18: 2nd International Convention on Environment & Development, Havana International Conference Center, Cuba. Aimed at politicians, managers, educators, scientists, professors, technicians, community leaders, farmers, entrepreneurs and all those who consider that sustainable development constitute the main objective on the next century. The convention will feature the: 2nd Congress on Economy and the Environment; 2nd Congress on Environmental Policy and Law; 1st Congress on Environmental Management for Sustainable Development; Symposium on Integrated Coastal Management; Congress on "Environment and Health Risks at the threshold of the 21st Century; 1st Congress on Conservation and Management of Soils and the Environment in Watersheds; 1st Congress on Planning and Management of Protected Areas; 2nd Congress on Integrated and Environmental Management and the Protection of Waters in Watersheds; 2nd Congress on Biodiversity Conservation and Management; 2nd Congress on Environmental Education for Sustainable Development; Conference on "Sustainable Development and Energy". Details: Direccion de Analisis Macroeconomico, Ministerio de Economia y Planificacion, La Habana, Cuba. Tel: [phone]. Fax: [phone]. E-Mail: [e-mail] June 17-19:

June 17-19: Expo USA '99 in Santo Domingo. An exhibition of U.S.-made products and services. This three-day event will allow U.S. exporters to: (1) Participate in briefings on the Dominican Republic marketplace, business practices, and trade procedures; (2) Test or expand their market through exposure to a selected audience of qualified sales representatives and buyers. In past years, Expo USA has attracted more than 30,000 local and regional visitors. In 1997, the value of U.S. exports to the Dominican Republic was US$3.18 billion. The exhibitor's fee is US$1,600. Details: Ms. Sheila de Andujar. Tel: [phone] ext. 408. Fax: [phone]. E-Mail: [e-mail].

June 28-29:

June 28-29: Heads of state and government of the European Union and the countries of Latin America and the Caribbean meet in Rio de Janeiro, Brazil, on the fringes of the U.N. General Assembly. The agenda for the meeting will cover political dialogue, economic and trade issues, and cultural, educational and human affairs.

July:

July: Feria Ganadera de Liberia, Guanacaste (beef cattle livestock show), Guanacaste, Costa Rica. Details: Mr. Adolfo Rivas, Coordinator, Camara de Ganaderos de Liberia. Fax: [phone]. September:

September: Feria Ganadera de Guapiles (livestock show, beef cattle & horses), Limon, Costa Rica. Details: Mr. Dionisio Mora, Coordinator, Jersey Association. Tel: [phone]. Fax: [phone].

September 23-25:

September 23-25: Caribbean Tourism Organization Conference, CTC-23, Santo Domingo, Dominican Republic. Tel: [phone].

October:

October: ITIFAS, a showcase for Surinamese producers, in October. Details: Mr. Robert Ameerali, President, Surinamese Chamber of Commerce. Tel: [phone]. Fax: [phone].

October 7-9:

October 7-9: Regional Conference: Environmental Technologies for the Food Processing Industry. San Jose, Costa Rica. Details: CEGESTI, Apdo. 1082-2050 San Pedro, San Jose, Costa Rica. Ms. Cristina Bermudez, Ms. Hildegarde Van de Voorde. Tel: [phone]. Fax: [phone]. Email: [e-mail] October 26-28:

October 26-28: Florida Caribbean Cruise Association Conference, San Juan, Puerto Rico. Tel: [phone].

2000 February:

February: FERCORI Trade Show. Consumer products, including some food. San Jose, Costa Rica. Details: Lcda. Flor Carreras, President and/or Arch. Francisco D'Arsie, Gerente General, PO Box 1843-1000, San Jose, Costa Rica. Tel: [phone]-6331. Fax: [phone].

February:

February: Exposicion y Feria Ganadera de Perez Zeledon (livestock show), Costa Rica. Details: Mr. Roberto Carranza, Coordinator, Mercadeo y Agroindustria, PO Box 598, San Isidro General, Costa Rica. Fax: [phone]. Tel: [phone], Ext. 218.