TRINIDAD

Trinidad sugar shortage halts production at Pepsi

PORT OF SPAIN, (AP) - A shortage of refined sugar in Trinidad has forced Pepsi-Cola and several other companies to halt production, officials said Tuesday.

The shortage comes as the island's Sugar Manufacturing Company Limited, a state-owned refinery, has been unable to meet demands because of a shortage of raw sugar from Belize and Guyana, according to a statement released by the island's Ministry of Trade and Industry.

Pepsi Trinidad said it would halt production at the end of the day Tuesday, said Noel Rose, operations director.
The Pepsi plant is not slated to receive sugar delivery until Sept 12.

Competitor Coca-Cola Caribbean Bottlers said it was still producing, but noted that the shortage could impact the production of sugar-based products such as Coke and Sprite.

"We currently have enough stock to supply our customers. Should that run out before the next receipt of sugar, our production will be channelled toward products that do not utilise sugar in the manufacturing process," said Jillian Stephens-Thomas, spokesman for Coca-Cola Caribbean Bottlers.

CUBA

India to join search for petroleum off Cuba's coast

HAVANA, (AP) - India's oil company will join efforts to search and drill for petroleum in the largely unexplored Gulf of Mexico waters off Cuba's coast, a senior government official said Tuesday.

The Cuban government chose bids by India for two new blocks offered for exploration, Foreign Minister Rao Inderjit Singh told reporters as he wrapped up a two-day official visit.

"We are also negotiating an agreement with Repsol," he said, referring to the Spanish petrochemicals firm Repsol YPF, which is already exploring and drilling for oil in the waters off the communist-run island. He did not provide details.

Canadian company Sherritt also is exploring off the island's coast.

In July 2004, Repsol reported that it found petroleum reservoirs off Cuba's coast, but said the first well was not considered commercially viable. It has said it will continue to drill.

Oil specialists believe Cuba's waters in the Gulf of Mexico could contain large quantities of crude, just as those of Mexico and the United States do. Earlier explorations, however, turned up only modest discoveries.

DOMINICAN Republic

Congress passes free-trade agreement with US

SANTO DOMINGO, (AP) - Dominican legislators overwhelmingly approved a free-trade agreement Tuesday with the United States and five Central American countries - rejecting arguments that the pact would devastate the domestic sugar industry.

Following the 118-4 vote in the Lower House of Deputies, the agreement now goes to President Leonel Fernandez, who has said he'll sign it. The Senate passed it 27-2 in late August.

"Failing to pass this would isolate the Dominican Republic from the free-trade tendencies in Latin America and put us at the margin of economic development," said Deputy Cristian Paredes from the Dominican Revolutionary Party, the majority in Congress.

Lawmakers said they would find ways to compensate sectors such as the sugar industry, expected to face strong American competition when the agreement takes effect next year.

Congress will now seek ways to compensate sectors that will face stiff American competition, said Alfredo Pacheco, president of the Lower House.

US President George W Bush signed the Central American Free Trade Agreement on Aug 2 after a tough battle to win approval in the US Congress.

GUYANA

Deep-sea fishermen suspend operations amid high fuel costs

GEORGETOWN, (AP) - Deep-sea fishermen in Guyana are suspending operations for at least six weeks because of high fuel costs, an official said yesterday, bringing to a halt the South American country's US$60 million (euro48 million) a year seafood export industry.

About 90 fishing and shrimp boats have returned to port while industry leaders explore ways to offset the impact of high local diesel prices, which are topping US$3 (euro2.4) per gallon, said Bruce Vieira, president of the Guyana Association of Trawler Owners and Seafood Processors.

"We will review the situation in a few weeks," said Vieira, whose organisation represents Guyana's largest deep-sea fishing and shrimp companies. "We are tying up the boats to see what happens next."

Fuel costs now account for up to 70 percent of the deep-sea fishing industry's operational costs, Vieira said. Small catch sizes have also hurt the industry, he said.

This is the second time this year the deep-sea fishing industry has called in its boats because of high fuel costs.

DOMINICAN Republic

Government cancels fuel reduction plan after signing oil accord with Venezuela

SANTO DOMINGO, (AP) - The Dominican government has cancelled a major plan to reduce fuel consumption after signing an oil agreement with Venezuela, an official said Wednesday.

President Leonel Fernandez, along with leaders from eight other Caribbean countries, signed accords with Venezuelan President Hugo Chavez on Tuesday that will allow them to buy oil at favourable financing terms.

"President Fernandez now wants to re-evaluate the fuel situation," said Fernandez spokesman Roberto Rodriguez. "The energy-saving plan has been called off until further notice."

The fuel reduction plan would have kept private vehicles off roads one day a week, reduced speed limits on highways and increased gasoline prices by 25 per cent.

The government last week raised gas prices by 10 per cent as part of the plan, bringing the price of regular to 115 Dominican pesos (US$3.97, euro3.18) a gallon (3.8 liters) and premium to 125 pesos (US$4.31, euro3.45). The new gas prices will not be lowered, Rodriguez said.

ST LUCIA

Digicel wins approval to acquire Cingular Wireless operations

CASTRIES, (AP) - Digicel said Wednesday it has won government approval to acquire the operations of Cingular Wireless in St Lucia.

The Irish mobile provider announced plans in June to expand its nine-country Caribbean network by acquiring Cingular's operations in St Lucia and four other countries. The terms of the acquisition weren't disclosed.

With the deal approved, Digicel will be able "to grow our subscriber base and offer more value to all our customers" on the Caribbean island, said company CEO for the Eastern Caribbean Kevin White.

Digicel's investment in the Caribbean totals more than US$600 million (euro500 million), and the mobile provider has said it expects to expand its staff by 30 percent by the end of 2006.

St Lucia's Telecommunications Minister Felix Finisterre said Digicel's acquisition would "support their continued growth on the island and the benefits it brings to consumers and businesses."

Digicel operates in Aruba, Barbados, Curacao, The Cayman Islands, Grenada, Haiti, Jamaica, St Lucia, and St Vincent.
The Cingular purchase will expand Digicel's operations to Bermuda, Anguilla, St Kitts and Nevis, Antigua, and Dominica.

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