City minister John Glen warns against turning away from EU rules post-Brexit

first_imgCity minister John Glen has warned that the UK must think carefully about its regulation options post-Brexit, arguing that EU rules had been the “hallmark of our credibility”. Speaking at a Conservative Home fringe event at the Tory party conference, Glen said: “I think people sometimes characterise the opportunities of Brexit as, well, we can throw up all of those EU regulations and all will be well. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamabonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistatePost Fun25 Worst Movies Ever, According To Rotten TomatoesPost Fun Alexandra Rogers City minister John Glen warns against turning away from EU rules post-Brexit Britain’s regulatory relationship with the EU hangs in the balance while its exit from the bloc – with or without a deal – remains unknown. The economic secretary to the Treasury struck a cautious tone while discussing regulation for financial services sector, saying that while it was important that the UK “maximised” its advantages, it should not deviate from global standards. He said, however, that there were global financial partnerships to be made with similarly mature financial services environments such as Switzerland, Hong Kong, Singapore, Japan and the US. whatsappcenter_img Monday 30 September 2019 9:25 pm If the UK leaves the EU with a deal on the Brexit deadline of 31 October, it would continue to have access to the bloc’s financial services market until the transition period ends in 2020. However, if it left without a deal, the UK is relying on the understanding that its rules are closely enough aligned to the EU’s to avoid any barriers. “There are opportunities, government to government, regulator to regulator, to actually create a better and smoother environment for more economic activity.” “We need, I think, some sort of department that provides regulatory certainty to emerging unknown products and services, rather than leaving them in the twilight zone until we slotted them into a particular feature. I think that would assist innovation greatly.” “Well, the bottom line is that actually, for systematic stability reasons, the EU framework that we will need to relate to in some form, has been a hallmark of our credibility. US investment banks don’t locate in London just for the sake of it. They do it because they can access a massive market in Europe.” Share whatsapp Mark Littlewood, the director general of the Institute for Economic Affairs, suggested that the Department for Exiting the European Union should not be scrapped after Brexit, and should instead be tasked with deregulation or for “regulatory optimisation”.last_img read more

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Petersburg fisherman catches salmon shark while gill netting

first_imgShare this story: Education | Fisheries | Science & Tech | Southeast | WildlifePetersburg fisherman catches salmon shark while gill nettingSeptember 8, 2016 by Abbey Collins, KFSK-Petersburg Share:Joe Willis caught the salmon shark while gill netting (Photo by Abbey Collins/KFSK)A Petersburg fisherman gill netting near Red Bay last week pulled in an “uncommon” haul.The salmon shark was a pretty uncommon catch in the waters near Petersburg, Joe Willis said.Willis donated the salmon shark to grade school science, giving the kids a chance to explore.“Yeah it was second to the last set of the opening,” Willis said. “I thought I had a few salmon by the amount of corks that went down but when we hauled it, he has already perished so we thought instead of just feeding sea life on the bottom we’d let the kids at school enjoy.”“Normally we’re able to release them unharmed back,” Willis said. “They usually swim away, they’re pretty resilient. But this one was pretty tired when it came up and I didn’t think it was going to make it, so we figured we’d let the kids enjoy it. The anatomy is unique compared to other salmon and stuff.”“The kids just love poking and prodding at sea life,” Willis said.last_img read more

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Juneau Assembly approves lease to turn former pocket park into seasonal food court

first_imgBusiness | Juneau | Local GovernmentJuneau Assembly approves lease to turn former pocket park into seasonal food courtApril 2, 2019 by Adelyn Baxter, KTOO Share:The vacant lot at the intersection of South Franklin Street and Front Street is actually made up of several lots. A new seasonal food court will operate on the lower lots that previously held the Gastineau Apartments and Gunakadeit Park before both were demolished in 2016. (Photo by Adelyn Baxter/KTOO)A vacant lot in the heart of downtown Juneau will get a new lease on life this summer.The Juneau Assembly agreed Monday to lease the former pocket park on Franklin Street to David McCasland of Deckhand Dave’s, a fish taco stand, for use as a seasonal outdoor food court.The city also repealed a resolution from 1998 outlawing alcohol consumption on the site. Vendors will be allowed to sell beer and wine there as long as the food court operates.McCasland said his goal is to open by May 1 and operate through the cruise ship season.He will provide bathrooms and outdoor seating on the lot and is working on getting the necessary building permits.“(I’m) hoping everything goes smooth there, and once that happens, I’ve got some contractors on line that are ready to go,” McCasland said.McCasland said he also signed a lease with the owners of the former Gastineau Apartments that were demolished on the adjoining lot in 2016. The size of the two combined lots allows him to rent space to other vendors as well.So far, he said the business lined up in addition to his own fish taco stand are Alaskan Crepe Escape, Smiley’s Old Fashion Kettle Corn, Glacier Smoothie silt soaps, Coppa and a new business that sells tortas.“They seemed like a good fit,” McCasland said. “I actually have a spot for one more vendor, potentially.”McCasland first offered to buy the city-owned lot — which was previously known as Gunakadeit Park before it was demolished along with the apartments next door — last year after he and other seasonal vendors operating on the Archipelago Lot learned the owner had plans to develop that property.The city opted to explore leasing the land instead, given the possibility of packaging it together with the Gastineau Apartments lot for sale in the future.According to the terms of the lease, McCasland will pay the city $3,250 per month from May through September and $1,000 per month during the rest of the year.Share this story:last_img read more

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News / Strike threat to port of New York as dockers’ union hits out over jobs

first_imgBy Alexander Whiteman 22/02/2017 International Longshoremen’s Association (ILA) vice president Kenneth Riley has called for a shutdown of US east coast ports in a protest over mounting job losses.The action, including a march of dockworkers on Washington, will start on 27 February.This coincides with the first day of the Transpacific Maritime Conference in Long Beach, and comes as union leaders and terminal employers prepare for the next round of master contract negotiationsMr Riley, who also presides over the ILA Local 1422 Charleston South Carolina, said interference by the South Carolina Port Authority and Waterfront Commission of New York Harbour (WCNY) had resulted in hiring practices that deliberately reduced dockworker numbers.“Today’s longshore workers are skilled craftsmen who operate expensive and dangerous equipment,” said Mr Riley.“The work of these dedicated professionals is responsible for much of America’s economic wealth, and we are protesting at the damage to the nation’s economy that is caused by the kind of interference that President Trump promised to stop.”Mr Riley said the WCNY used a “self-created” system of background checks for workers on the waterfront, which he said resulted in job shortages at the port of New York and New Jersey.He added that the port suffered from two sets of regulations: the WCNY and the Port Authority of New York and New Jersey.“This overregulation is damaging to one of the nation’s busiest ports and, thus, hundreds of local businesses that depend upon the port to survive, by reducing the number of dock workers and therefore the amount of cargo that could be moved,” he said.Mr Riley added that overregulation and governmental interference in South Carolina was killing jobs and reducing the value of economic activity at the port of Charleston.“The South Carolina State Port Authority uses non-ILA members to operate cranes, receive and deliver cargo and perform other terminal work,” he said.“This kind of government interference is causing unemployment, unskilled and unsafe dock labour and injury to the coastal economy.”Mr Riley claimed every port region from Maine to Texas had expressed solidarity with the ILA during meetings held with employer association the US Maritime Alliance (USMX) in Florida last week.“We are asking President Trump to help our members keep working, that more are put to work and to ensure that American jobs are protected,” he said. “We all know that if working conditions decline and jobs are lost in New York, that people like us will be in trouble throughout the country.”He added that collective bargaining agreements in New York set the standard for the nation and had consistently increased wages, benefits and the standard of living for every working longshoreman.“It’s really simple: you hurt New York, you interfere with hiring, you’ll start the destruction of every gain made by every longshoreman in the United States,” he said. “That’s how longshoremen throughout the country feel, and they’re angry about it.”In a separate development, APM Terminals today announced that it would almost treble its investment in Port Elizabeth from $70m to $200m, following talks with Port Authority of New York & New Jersey, shipping companies, importers and exporters, intermodal rail providers, trucking companies and the ILA.The additional funds will go towards four next-generation ship-to-shore cranes to handle ultra-large container vessels (ULCVs) at the US’s second busiest port, with the larger vessels expected to start calling at the port after the heightening of the Bayonne Bridge, which is scheduled to be completed later this year.last_img read more

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FDA to hold two-day meeting on off-label drug marketing

first_img Tags FDAfree speechoff-label marketing [email protected] FDA Ed Silverman About the Author Reprints After years of anticipation, the Food and Drug Administration will hold a public, two-day meeting starting on Wednesday to review the extent to which so-called off-label information about medicines may be disseminated to physicians.Nothing will get decided, though. The meeting is designed simply to give the public — drug makers and patient advocates alike — a long-awaited chance to convey their opinions and debate the issue.Off-label information refers to materials that describe unapproved uses of a drug. Doctors are allowed to prescribe a medicine for an unapproved use, but drug makers have long battled restrictions on their ability to distribute this type of information — such as reprints of medical studies — and have lobbied Congress and the FDA to loosen regulations.advertisement The FDA, however, has avoided doing so. The agency has regularly voiced concern that public health could be jeopardized if a drug maker distributes information about an unapproved use that has not been proven safe or effective.As we have reported previously, the industry effort accelerated after a 2012 ruling by a federal appeals court that overturned the criminal conviction of a Jazz Pharmaceutical sales rep, who was prosecuted for encouraging doctors to prescribe a drug for unapproved uses. The court ruled his speech was protected, since the information was truthful and not misleading.advertisementcenter_img By Ed Silverman Nov. 8, 2016 Reprints PharmalotFDA to hold two-day meeting on off-label drug marketing Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. Ever since, drug makers have argued that conveying certain types of information is a free speech issue. But the debate gained steam last year when Amarin filed a lawsuit arguing it had the right to off-label marketing, so long as the information provided to doctors is truthful and not misleading. A federal judge agreed with the company, which reached a settlement with the FDA.“I believe this meeting will clear the way for the FDA to issue thoughtful guidance on a more liberal sharing of truthful, accurate, and non-misleading off-label information,” said Peter Pitts, a former FDA associate commissioner who heads the Center for Medicine in the Public Interest, a think tank that is funded, in part, by industry. “This is particularly important with a new administration coming in January.”A parade of a few dozen people will speak, according to the FDA agenda, and agency officials are expected to incorporate their comments in finding answers to some key questions. Among them: what are the benefits for doctors, researchers and payers if they receive off-label information? And how might off-label information affect prescribing, as well as research into new products?What else does FDA hope to sort out?The agency wants to know how companies evaluate whether off-label information is scientifically appropriate — and not misleading — for communicating to doctors. And the FDA is also interested in assessing which criteria should be considered in determining whether a study used by a company is scientifically appropriate to support conclusions that are distributed.A few more questions: What other information should be disclosed to ensure audiences are not misled? How effective are disclosures in ensuring that limitations concerning data about unapproved uses are adequately conveyed and understood? And what kinds of surveillance and monitoring should be done to measure and assess the public health impacts of unapproved use communications and by whom?Critics say that widely disseminating off-label information would be dangerous to consumers.“What’s the point of having an FDA then?” said Sid Wolfe of Public Citizen, the advocacy group, who will speak at the meeting. “Instead of providing rigorous evidence that a drug is safe and effective, the company could just hand out articles that don’t meet the test of efficacy. If the FDA does what industry wants, it will damage federal law that upholds safety standards.”And Kim Witczak, an independent consumer advocate who will also speak, said “there are real life consequences. Patients need to know they can trust the medicines they’re given and that these are, in fact, approved by the FDA for the particular use. We shouldn’t be guinea pigs.” @Pharmalot last_img read more

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Collier County cracks down on noisy modified cars

first_imgAdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Woman shot outside Naples Waffle House June 16, 2021 COLLIER COUNTY, Fla. — Numerous Collier County residents have complained about loud and disruptive cars with modified exhausts.Deputies with the Collier County Sheriff’s Office will be cracking down on illegal modifications and will be stopping cars that are too loud.Drivers who have altered their cars in order to make them louder could be fined up to $113.Florida law mentions that “no person shall modify the exhaust system of a motor vehicle or any other noise-abatement device of a motor vehicle operated or to be operated upon the highways of this state in such a manner that the noise emitted by the motor vehicle is above that emitted by the vehicle as originally manufactured.” Advertisement Advertisement Missing Collier teen seen with man at Fort Myers Publix June 11, 2021 RELATEDTOPICScenter_img Collier school resource officers teach kids how to fish on first day of “Summerfest” June 16, 2021 Deputies investigate overnight shooting in Golden Gate June 10, 2021 Advertisement AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments AdvertisementTags: carCollier County Sheriff’s Officelast_img read more

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The fixtures for Cumann na mBunscol Football finals 2019 have been announced

first_imgHome GAA Cumann na mBunscol The fixtures for Cumann na mBunscol Football finals 2019 have been announced GAACumann na mBunscolSport Here are all of Wednesday’s Laois GAA results The fixtures for Cumann na mBunscol Football finals 2019 have been announced Pinterest RELATED ARTICLESMORE FROM AUTHOR Twitter Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory WhatsApp By Rory Lawlor – 22nd October 2019 Facebook Facebook WhatsApp TAGSCumann na mBunscol 2019 Previous articleDeaths in Laois – Tuesday, October 22, 2019Next articleTimahoe NS hold annual Mini Scientist Exhibition Rory Lawlor On Wednesday 23 and Thursday 24 October, the Cumann na mBunscol football finals will take place in O’Moore Park.There had been fears that the competition would not go ahead due to the state of the playing surface in Laois GAA HQ.However, following an examination after Sunday’s county finals, the pitch has been cleared for action.Check out all of the fixtures below and LaoisToday will bring you all of the action as it happens on our Live Blog over the two days.Wednesday October 23Roinn 4 Girls ShieldCullohill vs Durrow/Trumera 10amRoinn 3 Girls ShieldCastletown vs Killeen 10amRoinn 3 Boys ChampGaelscoil Phortlaoise vs Durrow 11amRoinn 4 Boys ShieldKilleen vs The Swan 11amRoinn 5 Boys ChampShanahoe vs Borris in Ossory 12pmRoinn 5 Boys ShieldClonenagh vs PETNS 12pmRoinn 4 Girls ChampShanahoe vs Knock 1pmRoinn 3 Boys ShieldDerrylamogue vs Paddock 1pmRoinn 2 Girls ShieldThe Heath vs Ballyroan 2pmRoinn 2 Boys ShieldMountmellick vs Ratheniska 2pmRoinn 1 Girls ShieldKilleshin vs Ratheniska 3pmRoinn 1 Boys ChampKilleshin vs Killenard 4pmThursday October 24Roinn 1 Girls ChampHoly Family vs Graiguecullen 10:30amRoinn 6 Boys ChampHoly Family vs Portarlington Boys 11:30amRoinn 5 Girls ChampHoly Family vs Portarlington Girls 11:30amRoinn 1 Boys ShieldPortarlington Boys vs Ballyadams 12:30pmRoinn 3 Girls ChampScoil Bhride Knockmay vs Clonaghadoo 1:30pmRoinn 2 Girls ChampBallyadams vs The Rock 1:30pmRoinn 2 Boys ChampClonaghadoo vs Ballylinan 2:30pmRoinn 4 Boys ChampNewtown vs Mayo 3:30pmSEE ALSO – Local weather forecaster predicts SNOW for Laois this week GAA GAA Pinterest GAA Twitter 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

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GWL names new head of Canadian division

first_imgGreat-West CEO mulls bringing firm’s three units under one brand PenderFund names new SVP for investments Megan Harman Winnipeg-based life insurance giant Great-West Lifeco Inc. (GWL) announced on Thursday that Stefan Kristjanson will take over as president and chief operating officer (COO) of the Canadian division effective Aug. 6. Kristjanson is currently executive vice president, strategy and transformation at GWL, which operates Winnipeg-based Great-West Life Assurance Co., Toronto-based Canada Life Assurance Co. and London, Ont.-based London Life Insurance Co., as well as various international entities. Keywords AppointmentsCompanies Great-West Lifeco Inc. Facebook LinkedIn Twitter CETFA elects new board leader TD getting new head of private wealth, financial planning Kristjanson succeeds Dave Johnston, who will retire in the third quarter following a 38-year career with GWL. Johnston has held various different roles with the organization since joining in 1978. He has been president and COO of the Canadian division for the past three years. “As president and COO of the Canadian division, Dave launched the strategy to invest in the capabilities required to ensure that our Canadian operations remain competitive, responsive and relevant in a dynamic and changing environment,” said Paul Mahon, president and CEO of GWL, in a statement. “Dave championed significant change initiatives relating to innovation, digital services and employee engagement. These and his many other achievements position us well for continued success in the future.” Kristjanson has been associated with GWL for 26 years. He has held a wide variety of roles, including leading the group insurance business in Canada, and integrating Irish Life Group, which GWL acquired in 2013. “Stefan’s deep understanding of our Canadian operations and his recent focus on strategy and transformation position him well to lead our growth in Canada,” said Mahon. Photo copyright: ltphoto/123RF Share this article and your comments with peers on social media Related newslast_img read more

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Mary Seacole Honoured with Blue Plaque in London

first_imgRelatedMary Seacole Honoured with Blue Plaque in London RelatedMary Seacole Honoured with Blue Plaque in London Advertisements Mary Seacole Honoured with Blue Plaque in London UncategorizedDecember 3, 2007center_img FacebookTwitterWhatsAppEmail The London home of pioneering Jamaican healer, Mary Seacole, has been marked with one of English Heritage’s prestigious blue plaques.The plaque, which was unveiled on Thursday (Nov. 29) at a ceremony at the house at Soho Square in Westminster, describes Mrs. Seacole as a “heroine of the Crimean War”.The house is in fact one of several places in London where Mary Seacole lived during her time there and is the only one that has survived until today. The very plaque mounted at Soho Square previously adorned Mrs. Seacole’s earlier address at George Street in Marylebone before its demolition.The Soho Square address was where Mrs. Seacole lived after her return from the Crimean War and at the time of the publication of ‘The Wonderful Adventures of Mrs. Seacole in Many Lands’, the first autobiography written by a black woman in Britain.The ceremony was attended by Jamaican High Commissioner to the United Kingdom, Burchell Whiteman and Mrs. Whiteman; Britain’s Minister for Culture, Margaret Hodge; Councillor Frances Blois representing the Office of The Lord Mayor of Westminster; Vice-Chair of the Mary Seacole Memorial Statue Appeal, Professor Elizabeth Anionwu; Co-editor of the re-release of Seacole’s autobiography, Ziggi Alexander; Chair of the Mary Seacole Memorial Statue Appeal’s Artist Selection Panel, Baroness Valerie Amos, as well as representatives of the Mary Seacole Memorial Association, and many others.To coincide with the unveiling of the plaque, the Florence Nightingale Museum has opened a display devoted to Mary Seacole’s life and contribution to the nursing care of British soldiers during the Crimean War.English Heritage has managed the blue plaque scheme since 1986. Plaques have since been issued to commemorate the achievements of a vast range of figures from different countries, cultures and backgrounds including late former Prime Minister and historian, Sir Winston Churchill; American musician, Jimi Hendrix; crime fiction writer, Agatha Christie, and Austrian neurologist and psychiatrist, Sigmund Freud.The residence of another legendary Jamaican, Bob Marley, was commemorated with a plaque last year.Mary Seacole was recently voted greatest ever black Briton in an online poll. RelatedMary Seacole Honoured with Blue Plaque in Londonlast_img read more

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Gov’t. First Year Review: Prime Minister Attends PetroCaribe Summit in Venezuela

first_imgRelatedGov’t. First Year Review: Prime Minister Attends PetroCaribe Summit in Venezuela Gov’t. First Year Review: Prime Minister Attends PetroCaribe Summit in Venezuela UncategorizedSeptember 26, 2008 FacebookTwitterWhatsAppEmail Jamaica continues to benefit from the PetroCaribe Agreement, under which the country finds it a little less burdensome to cope with the payment for spiralling oil prices.Following his participation in the 5th Extraordinary PetroCaribe Summit in Venezuela earlier this year, Prime Minister, Bruce Golding, informed the House of Representatives, that the Summit had considered the unprecedented increases in oil prices, which have more than doubled within the last 10 months, and the impact this has had on member countries.“Under the existing arrangements for the financing of oil imports, once the price per barrel of oil exceeds US$100, 50 per cent of the cost of these imports is deferred for a period of 20 years, at a concessionary rate of two per cent. Based on discussions at the Summit, the Government of Venezuela, has agreed to increase the deferred financing portion to 60 per cent, once the price exceeds US$100 per barrel. Further, should the price exceed US$200 per barrel, the deferred portion will be increased to 70 per cent,” he informed.“As the price of oil has long passed the US$100 level, this will ease the demand for foreign exchange to meet the country’s oil import bill, which has risen from US$1.5 billion in 2005 to the level, based on projections, of $3 billion in 2008. It will also increase the inflows into the PetroCaribe Fund,” he informed.Mr. Golding noted that these inflows into the Fund represent a loan from the Venezuelan Government, albeit on very concessionary terms, which become part of the national debt and will have to be repaid.“It is therefore of critical importance that the management and use of the Fund be handled in such a way that it generates the income necessary to ensure that the repayments are made when they become due without resorting to the Consolidated Fund. The Government is committed to this approach,” he said.Based on the submissions made at the Summit, Mr. Golding said the Government of Venezuela, had agreed to make available to PetroCaribe member states, 100,000 tons of urea per annum, at a discount of 40 per cent, of prevailing market price.“This discount will provide a significant reduction in the cost of inputs to the local manufacturer. Jamaica currently imports 10,000 tons of urea annually. President Hugo Chavez has insisted – an insistence which we fully endorsed – that the benefit of this significant cost reduction must be fully reflected in a reduction in the price of fertiliser to the farmers. The Minister of Finance has decided to remove all customs user fees on the importation of raw materials for blending fertilisers. This should result in a further reduction of five per cent in the cost of these inputs,” he outlined.The Prime Minister said he had therefore instructed the Ministers of Agriculture and Industry, Investment and Commerce, to conduct a further thorough analysis of the current pricing structure of locally blended fertilisers. “This is necessary because of the unfavourable comparison between the price of local fertilisers and that of identical blends imported by other CARICOM countries from the Dominican Republic,” he said.Meanwhile, in December at the working session of the fourth PetroCaribe Summit in Cienfuegos, Cuba, Mr. Golding called for the establishment of a team, to explore trading opportunities among PetroCaribe members. He proposed that this team further explores transportation arrangements that would be necessary to support the level of trading opportunities being considered.The Prime Minister said he was pleased to see the emphasis on expanding the opportunities for trade among member countries of PetroCaribe. He said this was another important area where “we can build co-operation and create areas of mutual benefit.”However, he said there is an area of challenge, which is the question of the transportation of goods among member countries, as we do not have cost effective means of transportation.Mr. Golding told the working session that while it may be important for member countries of PetroCaribe to expand their co-operation beyond the question of energy, there is also the need to look at what is happening now, not just in terms of the movement in oil prices, but what is happening with the movement in commodity prices.He told the delegates that it went beyond just the question of oil prices, because it impacts significantly on the economies of the region. He noted that just recently, CARICOM Heads of Government, had to get together to look at the implications of price increases and the threat that these increases could impose in destabilising the economies of the region.The PetroCaribe Agreement, represents the strengthening of relations between Venezuela and the countries of the Caribbean, by providing significant support to the petroleum industry in the face of rising oil prices.Under the agreement, participating countries enjoy short-term financing from 30 to 90 days on oil purchases from Venezuela. Where the cost of a barrel of oil exceeds US$40, the payment period can be extended for up to 25 years, including a grace period of two years, at an interest rate of one per cent. RelatedGov’t. First Year Review: Prime Minister Attends PetroCaribe Summit in Venezuelacenter_img RelatedGov’t. First Year Review: Prime Minister Attends PetroCaribe Summit in Venezuela Advertisementslast_img read more

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