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Caribbean Business Journal - Business and Travel News

Caribbean Business Journal, a business magazine serving the Caribbean Community Around the World, Small Business Success, Travel, Economic News, Management, Finance, Diversity News, Events
 
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Valero Seeks to End Aruba Tax Dispute
Valero Energy has agreed to a settlement that would end a tax dispute over its idle refinery in Aruba.

The company has agreed to pay roughly $111 million once the the deal is approved by the Aruban parliament. The settlement also calls for Valero refinery workers to remain on the payroll until at least June 1. The company would also make a minimum tax payment of $10 million per year as long as it owns the plant to resolve the dispute.

Valero shut its Aruba refinery last June as falling prices for its refined products made the plant less profitable. The refinery had a capacity of about 275,000 barrels a day. Valero bought the Aruba plant in 2004 but has been looking to sell it. No date has been set for a sale and the company has declined to provide further details.
OTHER NEWS  
Tourism Ministers and UK officials to discuss implications of increased air passenger tax
President Confirms Support For Tabasco In Wake Of Floods
Government borrows EC$10 million to pay civil servants
Record cruise arrivals boost second-quarter figures
USTDA Supports Aviation Development in Haiti
It is Time to Reflect on Our Future: FCH
United States Hispanic Chamber of Commerce Announces Next Generation of Leadership
Trinidad FM To Speak at Barbados’s Democratic Labour Party Convention
Japan and CARICOM Set to Talk Climate Change
LIAT Officials Are Positive About Night Landing Facilities
New Additions Are Sworn Into Antigua’s Electoral Commission
Presidential Hopeful Wyclef Jean Wants to Change Haitian Constitution
Credit Union Delegates To Meet in St. Lucia
Caribbean Civil Society Organizations Scheduled to Discuss EU Funding
Cayman Islands and American Banking Regulators Reach An Accord
HIGHLIGHTS  
Around the Region

Caribbean Community (CARICOM) Chairman, Honourable Roosevelt Skerrit, Prime Minister of Dominica is confident that the forging of “a new ...

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Caribbean Spotlight

In the mind of Monique Hamaty-Simmonds, there is a strong bond between her business,...

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Management

Before you begin looking for financing, you should be prepared with a business plan that builds a strong case as to why someone should finance your business.

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Global Outsourcing

Outsourcing of manufacturing processes provides many US-based women and minority companies with highly competitive operational ...

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SPECIALS FEATURES  
U.S. Coast Guard Sends Back Over 300 Haitians

The U.S. Coast Guard announced on Aug. 2 that it had sent back 323 Haitians after their overcrowded boats were stopped in Bahamian waters.

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World Bank to Disburse US$55 Million to Help Haiti Meet Urgent Financing for Reconstruction

The World Bank announced today that it will disburse US$55 million to Haiti which will help the Caribbean nation address some of its most urgent financing needs...

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Cayman Shines in Singapore

Cayman’s Youth Olympic team got off to a good start in Singapore on Sunday (15 August) with swimmer Lara Butler managing a personal best in the woman’s 100m backstroke.

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Unity and Action, Demands in the Fight Against Crime : FCH

President Felipe Calderón declared that now is the time to implement agreements between the three orders and branches of government and society in general regarding crimefighting.

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