Business News

REPORT: Russian Mafia Operates With Impunity in The Caribbean Making Money-Laundering ‘Easy’
WASHINGTON — Russian organized crime groups, flush with billions of dollars looted from the former Soviet Union and profits from drug trafficking and other criminal activities, are using unregulated and secretive Caribbean banks to launder their illicit gains, according to U.S. and Caribbean law enforcement officials. These authorities said that members

Casino Control Commission Builds Awareness About Problem Gaming
CHRISTIANSTED — The Virgin Islands Casino Control Commission, chaired by Violet Anne Golden, held a public hearing today to take testimony from local and national experts about the problems associated with gambling addictions. Keith Wyte, the executive director of the National Council on Problem Gaming, said if the territory follows

One Person Killed, Six Injured In Sinopec-Run Refinery Explosion In Africa
LIBREVILLE — One person was killed and six wounded in an explosion on March 12 at an oil site in southwest Gabon run by a subsidiary of Chinese energy giant Sinopec. Rescuers found the body of one worker at the site the following morning, while four people were admitted to

Limetree Bay Terminals Names Darius Sweet As Its New CEO
CHRISTIANSTED — ArcLight Capital Partners, LLC (“ArcLight”) and Freepoint Commodities LLC (“Freepoint”) announced today that Limetree Bay Terminals, LLC (“LB Terminals”) has appointed Darius Sweet as Chief Executive Officer. ArcLight, through an affiliate, manages and owns an 80% interest in LB Terminals; Freepoint owns a 20% interest in LB Terminals.

Royal Caribbean’s Woes Continue As Crew Member Threatens Suicide On Board Ship
MIAMI – A crew member on Royal Caribbean International’s Oasis of the Seas attempted to commit suicide Saturday morning at Port Everglades, according to a Royal Caribbean spokeswoman. The man, in his late 30s, threatened to jump overboard at about 10 a.m. Saturday, according to the Broward Sheriff’s Office. BSO

Airbnb Is One Way For Caribbean Travelers To Avoid Hefty Hotel Room Taxes
By ANTON EDMUNDS/SPECIAL TO THE V.I. FREE PRESS HAVANA — Beyond the impact of the Zika virus, the opening of Cuba to U.S. travelers and the warnings of an economic slowdown by the International Monetary Fund and others, the Caribbean faces another phenomenon that poses a challenge to the status

VI Freep Picks The Top Five Casinos In The Caribbean
Despite casual gaming becoming an intrinsic part of our lives, there are still several resorts abroad that are managing to weather this turbulent period, such as the quality establishments found in the Caribbean. To celebrate this persistent tropical gaming scene, here is a list of the top five currently open.

DLCA Releases Survey Detailing Lowest Prices For Gasoline In The Territory
CHRISTIANSTED – The Department of Licensing and Consumer Affairs released its survey for the lowest prices for gasoline on St. Croix and St. Thomas on Friday. On St. Croix, for self service regular, premium and diesel gasolines, Superior Service Station in Estate Mt. Pleasant West had the lowest price on

PREPA Cuts Power To Santa Rosa Hospital After It Fails To Pay Its Bill
SAN JUAN – Puerto Rico’s power company on Thursday cut off electricity to a hospital over nearly $4 million in unpaid bills, part of a stepped-up effort by the heavily indebted agency to collect money amid the island’s economic crisis. The Electric Power Authority said it waited for surgeries to end

Private ‘Beggar-Free’ Ports Continue To Be The Trend For Cruise Lines In The Caribbean
But passengers disembarking from Carnival’s ships at the cruise line’s massive Amber Cove complex on the nation’s northern coast can ride zip lines, shop for locally grown coffee in a replica Victorian village, or chill out in a thatched-roof hut on the water—without leaving the fenced-in property. Rather than exploring