分类： business

Prime Minister Gaston Browne has revealed that the government is in advanced discussions with a prominent foreign banking group to sell its majority stake in Caribbean Union Bank (CUB). The announcement was made during his weekly radio program, *The Browne and Browne Show*, where he highlighted the nation’s economic progress and ongoing investment strategies. The government currently holds approximately 80% of CUB’s shares, acquired six years ago to rescue the bank from consistent losses under private ownership. Since then, CUB has turned profitable, though it remains a relatively small institution. Browne emphasized the need for a strategic partner capable of recapitalizing and expanding the bank’s operations. The potential buyer, a foreign banking group managing billions in assets, is expected to inject at least $100 million into CUB, significantly scaling its capabilities. The Prime Minister underscored that this move aligns with the government’s broader vision to modernize the financial sector and enhance banking services through technological innovation. He stressed the importance of adopting cutting-edge technology to meet evolving consumer demands, such as seamless mobile transactions. The ultimate goal is to transform CUB into a robust, well-capitalized institution that drives national development and improves access to financial services.

Prime Minister Gaston Browne has announced a significant investment of US $5 million into the National Housing Corporation to initiate upgrades at Jolly Beach Resort. This move underscores the government’s commitment to enhancing tourism infrastructure, supported by the nation’s robust fiscal performance. The funds, already deposited into National Housing’s account, will be allocated to renovate 33 additional rooms, construct a state-of-the-art conference facility, and improve critical infrastructure such as electrical and sewer systems. Browne emphasized that the project is part of a broader strategy to revitalize key tourism assets while ensuring local agencies and contractors directly benefit from government initiatives. He highlighted that National Housing will oversee the execution of these upgrades. The Prime Minister also linked this investment to other recent capital expenditures, including the purchase of fire trucks, garbage trucks, heavy equipment, and even a plane and a crane, made possible by the country’s improved financial health. Browne attributed these developments to steady economic growth and disciplined fiscal management, stressing the importance of safeguarding public funds for their intended purposes.

Prime Minister Gaston Browne of Antigua and Barbuda has announced a significant step in the revival of regional carrier LIAT, with plans to add another aircraft to its fleet in the coming weeks. This move is part of the government’s broader strategy to rebuild the airline and ensure its long-term sustainability. To support this expansion, the administration has allocated an additional US $4 million to cover the costs of parts and other operational requirements for the new aircraft. This latest investment adds to the approximately US $50 million already committed by the government to LIAT’s revival. Browne emphasized that the airline’s progress is a testament to the strength of Antigua and Barbuda’s economy, which has facilitated substantial capital investments across various sectors. He highlighted recent acquisitions, including seven fire trucks, ten garbage trucks, and US $21 million worth of heavy equipment for Public Works, as evidence of the government’s robust financial position. The Prime Minister also underscored the importance of LIAT’s expansion as a symbol of renewed confidence in regional connectivity and Antigua and Barbuda’s pivotal role as a hub for inter-Caribbean travel.