Category: CANA News

Nepal reached 122 all out in 19.5 overs against the West Indies in the third T20I of the Unity Cup here at the Sharjah Cricket Stadium on Tuesday.

NEPAL 122 in 19.5 overs (Khushal Bhurtel 39, Sandeep Jora 14; Ramon Simmonds 4-15, Jediah Blades 2-20).

The World Bank Tuesday said it has approved a new project to reduce flood risk in St. Lucia’s most vulnerable communities.

The Washington-based financial institution said that the US$25 million St. Lucia Urban Resilient Flood Investment Project is expected to benefit an estimated 67,000 St. Lucians.

The bank’s International Development Association (IDA), which provides grants and zero to low-interest loans to help countries finance projects that support economic growth, reduce inequalities and improve living conditions, is funding the project.

The World Bank said St. Lucia faces serious risks from hurricanes, storm surges and heavy rainfall and that the country’s steep terrain and densely populated coastal areas make flooding a major concern, particularly as climate change leads to more intense and frequent storms.

It said flood risk is highest in St. Lucia’s low-lying coastal zones, where nearly 60 per cent of the population live and where key infrastructure like airports, the seaport and major roads are located. Castries, the capital, and Anse La Raye, a fishing village, are especially vulnerable to flooding.

‘This project equips St. Lucia with the tools it needs to better manage and reduce the risks of flooding,’ said Lilia Burunciuc, the World Bank’s Director for the Caribbean.

‘By strengthening disaster preparedness and investing in climate-resilient infrastructure, Saint Lucia is taking important steps to safeguard its people, economy and vital assets from the growing impacts of climate change,’ she added.

The project aims to reduce flood risk in selected areas and strengthen the government’s ability to manage climate-related risks. Importantly, it will focus on Castries, Anse La Raye and their river basins.

‘Infrastructure investments in Castries and Anse La Raye aim to enhance resilience to flooding and climate hazards. Rather than relying solely on traditional engineering solutions like drainage improvements and flood walls, the approach also incorporates nature-based measures such as green corridors and river restoration.

‘Project investments are designed to establish economic opportunities which enable job creation. By the end of the project, 66,400 people are expected to benefit from climate-resilient infrastructure and improved government capacity for managing climate-related risks.’

The World Bank said that the project will also seek to improve the government’s capacity to manage climate impacts, support engineering designs for flood mitigation and enhancing early warning systems and community coordination.

Preparation for this project benefited from financial support from the European Union, the frame of the EU Resilient Caribbean (EUReCa) Programme, which is managed by the Global Facility for Disaster Reduction and Recovery (GFDRR). This reflects a broader international partnership to build resilience across the Caribbean.

The Bank of Jamaica(BOJ) says the outlook for real economic activity for next two fiscal years is likely to be in line with the last forecast and that preliminary indicators suggest that the economy should expand in the September 2025 quarter, resulting from expansions in electricity and water supply, agriculture and tourism and its allied services.

The BOJ’s Monetary Policy Committee (MPC) which earlier this month deliberated on the bank’s monetary policy stance in the context of continued low domestic inflation, global uncertainties and evolving interest rate trajectories in major developed countries, said thereafter, economic activity is anticipated to strengthen throughout financial year 2025/26.

‘In this context, real gross domestic product (GDP) is projected to recover in financial year 2025/26 in the range of one to three per cent, largely due to growth in the agriculture, mining, and tourism sectors,’ said the BOJ, which is also the country’s central bank.

It said in August this year, headline inflation in the United States increased to 2.9 per cent from 2.7 per cent in July 2025 and that it is projected to remain above the US Federal Reserve’s (Fed) target of two per cent for the remainder of the year.

‘BOJ’s July 2025 survey of businesses’ inflation expectations indicated that respondents expected inflation 12 months ahead to be seven per cent, generally stable relative to 7.1 per cent in the previous survey.’

The BOJ said the domestic banking system remains sound with adequate capital and liquidity and that the domestic fiscal policy stance continues to pose no risk to inflation over the near term.

‘The MPC reaffirms its commitment to maintaining low and stable inflation. To this end, the Committee will continue to monitor the incoming data and adjust its policy accordingly. This includes maintaining heightened surveillance of the trajectory of core inflation relative to the lower bound of the inflation target range,’ said the MPC which is chaired by Richard Byles, the BOJ Governor.

The BOJ said that during its meeting it also determined that the current policy stance continues to be appropriate to support inflation converging to the target range and therefore, unanimously agreed to hold the policy rate, which is offered to deposit-taking institutions (DTIs) on their current account balances at the BOJ) at 5.75 per cent per annum.

It also agreed to continue taking measures to preserve relative stability in the foreign exchange market.

The decision to maintain the policy rate is based on several factors including that while headline inflation of 1.2 per cent at August 2025 is below the bank’s target range of four to six per cent, core inflation continues to track within the target range.

‘Moreover, the causes of the low headline inflation rate at August 2025 are temporary,’ the BOJ said, noting that the temporary factors that caused low headline inflation in August were primarily related to improvements in supply conditions.

‘In particular, agricultural prices during the month were lower than a year earlier, when prices rose due to the negative impact of Hurricane Beryl on domestic crop production. Supplies improved subsequent to the adverse weather, leading to prices reverting to more normal levels.

‘In addition, the dissipation of the impact of a previous adjustment in public transport fares, as well as a reduction in the General Consumption Tax (GCT) on electricity consumption announced by the government in March 2025, contributed to lower-than-targeted inflation. ‘

The BOJ said that economic indicators continue to point to a stable macroeconomic environment.

‘Further, with stable domestic interest rates, the decline in interest rates abroad has improved the differential between domestic and external rates, which should better support stability in the foreign exchange market.

‘In addition, the current account of Jamaica’s balance of payments is projected to remain in surplus over the near term, and the international reserves are healthy and are projected to improve further.’

West Indies elected to bowl after winning the toss against Nepal in the third T20I of the Unity Cup here at the Sharjah Cricket Stadium on Tuesday.

WEST INDIES Playing XI:

Kyle Mayers, Karima Gore, Ackeem Auguste, Keacy Carty, Amir Jangoo (wk), Jason Holder, Fabian Allen, Akeal Hosein (Capt), Navin Bidaisee, Jediah Blades, Ramon Simmonds

Simmonds and Gore replace Zishan Motara and Jewel Andrew

Debuts: Karima Gore

NEPAL Playing XI:

Rohit Paudel (Capt), Kushal Bhurtel, Kushal Malla, Sundeep Jora, Aarif Sheikh, Gulsan Jha, Lokesh Bam (wk), Mohammad Aadil Alam, Sompal Kami, Karan KC, Shahab Alam

Umpires: Buddhi Pradhan, Vinay Kumar

TV Umpire: Akbat Ali

Reserve Umpire: Durga Subedi

Match Referee: Narayanan Kutty