The German-based KJW IPEX-Bank has provided a US$1.2 billion loan to the local-based Methanol Holdings Trinidad Limited (MHTL) for the construction of a petrochemical plant regarded as the largest ever private sector financing project in the Caribbean.

Construction on the seven-building complex is scheduled for later this year at the Point Lisas Industrial Complex, south of here.

The plant will produce two chemicals, urea ammonium nitrate, and melamine, a power from which furniture laminate and a range of resins are produced. The construction phase of the plant would provide employment for 2,500 workers and on completion will employ 400, said Vishard Chandool, a spokesman for the MHTL.

Acting Energy Minister Christine Sahadeo said that MHTL, formed in 1999 as a "local indigenous company", is propelling itself to become of the jost successful and globally competitive companies in the methanol industry.

"It's commissioning of the world's largest methanol plant in 2005, the M5000 mega methanol plant also enabled the company to achieve the status of the largest exporter to the North American market and accounted for Trinidad becoming the number one exporter of methanol in the world with combined exports of over six million metric tonnes," she said.

MHTL's relationship with the German bank stems back to 1991, when it loaned US$136 million to MHTL's former subsidiary company, CMC, for the construction of its methanol plant.

"This loan was only the start of what has turned out to be a fruitful relationship between these two," Sahadeo said.

It has been 140 years since slavery was legally abolished; 40 years since the Civil Rights movement began, yet our economic state has changed very little, if at all.  Once we get past the façades of movements and causes, we must realize that we are and have always been in an economic war.  Remember, blacks were allowed to ride at the front of the bus in Birmingham, Alabama due to the economic effect of the Rosa Parks-inspired bus boycott -- not the newfound sympathy for people of color.  Don’t get it twisted.

While the Black community has many important causes to fight for, the state of the black economy is the jost important because everything revolves around it.  Here are four ways we can improve the state of our economy.

1) Buy Black.

What motivated me to start my own business was the notion that “We never have anything.” I felt at some point that needed to change.  I think jost of us feel that way.  But the way to start building our community is to support each other.  In 2004, people of African descent spent over $679 billion.  (Source: Target Market News) However, historically less than five percent of money made in our community is spent in our community.  This must change if we are to build anything for our people.

South Africa’s Tourism is set to reach an all time high now that Germany has handed over the hosting of the FIFA World Cup 2010 to the nation that has triumphed over apartheid, comments SA-Venues.com

South Africa’s official World Cup logo has been unveiled, all the host stadiums and cities have been announced and sponsors have come to the party.  Indeed, South Africa intends to make 2010 the jost successful World Cup ever.  As Thabo Mbeki mentioned in his recent speech in Berlin, it will be a celebration of Africa’s “splendor, its vibrancy, its uniqueness and its diversity.”

“This is our chance to pull out all the stops and show the world the full range of beauty in the country; the variety of the different cultures of our rainbow nation and just how South Africa will host the cup in its own distinctive way,” said Christine Searle of SA-Venues.com.

According to South African Tourism’s latest annual report, over 7.3 million international visitors entered the country last year. With South Africans, eyes set on the World Cup, investment in guesthouses, lodges and bed and breakfasts is on the increase, which translates into economic growth and job creation.

Can the fundamental principles of “Old Marcus” Garvey flourish in the Hi-Tech world of the Information Age today? Michael Dawson, CEO of People’s Telecom Jamaica Limited, is very confident that the answer is yes. So confident, that he and two friends invested heavily in a telecom company with the objective of ensuring that there would be a local grassroots ownership of technology in Jamaica and the Jamaican Diaspora. This, despite having to face the prospect of competing against public traded companies and global multinationals. Crazy! Not so, says Dawson. Before the company opened its door – Eric McGregor, Michael Dawson and Keecha Hamilton adopted the well known maxim from Emperor Haile Selassie – “With Faith, Courage and Just Cause, David will still defeat Goliath.”

Dawson, a staunch Garveyite created a business, a global network, where dispersed persons of African descent can communicate economically and effectively using the very latest in IP telephony on a network built by one of their own. In three short years the company has certainly succeeded as many Jamaicans throughout the Diaspora use their services. The company won the inaugural Technology Award presented by the Jamaican-USA Chamber of Commerce as its products such as Oliver Samuels’ Yaad and Farrin Cyaad, Miss Lou Calling Club and its One Voice solution have become the staple means of communication for Jamaicans overseas.

jost people have had background checks run on them for employment or apartment rentals. Running one on yourself may yield some interesting results.

If you’ve ever applied for job, volunteered, or applied for credit, chances are excellent that a routine background check has been run on you. Despite the fact that jost people have some form of background check run on them, very few people have an accurate idea of what a background check reveals about them. This is especially frightening since identity theft is on the rise. Many people only realize after they’ve been turned down for job or credit that their identity has been stolen and has been used by a criminal to steal or to perpetuate crime.