分类: business

  • Gold nears US$5,000, silver shines as stocks slip on turbulent week

    Gold nears US$5,000, silver shines as stocks slip on turbulent week

    Financial markets concluded a week of heightened volatility with a cautious stance as precious metals soared to unprecedented levels. This trend emerged amidst ongoing uncertainty fueled by U.S. President Donald Trump’s unpredictable trade policies and diplomatic maneuvers, including his abandoned proposition to acquire Greenland and renewed tariff threats against European allies.

    Gold, traditionally viewed as a secure investment during economic turbulence, approached the landmark threshold of $5,000 per ounce. Simultaneously, silver surpassed $101 per ounce, reflecting investor apprehension regarding potential market disruptions. Dan Coatsworth, Head of Markets at AJ Bell, noted that investors remained hesitant to relinquish their safety investments, wary that President Trump might introduce additional controversial measures.

    The week’s tensions partially subsided after the White House retracted its threat to impose tariffs on several European nations that opposed the Greenland acquisition concept. Nevertheless, market sentiment remained fragile as analysts questioned the durability of improved U.S.-Europe relations.

    European equity markets struggled for direction, with London’s FTSE 100 and Paris’s CAC 40 closing marginally lower while Frankfurt’s DAX posted minimal gains. Across the Atlantic, Wall Street presented a mixed performance: the Dow Jones Industrial Average declined by 0.6%, whereas the S&P 500 and technology-focused Nasdaq Composite recorded slight advances. Intel Corporation experienced a dramatic 16% plunge following disappointing earnings projections.

    Market participants now turn their attention to next week’s Federal Reserve meeting, where officials are anticipated to maintain current interest rates following three consecutive reductions. This meeting occurs against a backdrop of heightened scrutiny regarding the central bank’s independence, particularly as U.S. prosecutors have targeted Chair Jerome Powell. President Trump is simultaneously evaluating potential candidates to assume leadership when Powell’s term concludes in May.

    The Bank of Japan maintained its key interest rate unchanged ahead of the country’s snap election, which could significantly influence future government expenditure strategies. Following initial volatility, the yen stabilized with modest gains.

    Investors worldwide are preparing for a crucial earnings week featuring reports from industry titans including Apple, Microsoft, Boeing, Tesla, and Meta. These financial disclosures are expected to provide critical insights into corporate resilience amid ongoing trade uncertainties and fluctuating market conditions.

  • All-new Q5 from Audi Jamaica

    All-new Q5 from Audi Jamaica

    KINGSTON, JAMAICA – Audi Jamaica has officially introduced the highly anticipated third-generation Q5 to the local market, marking a significant milestone for the luxury automotive sector. The official launch event, held on Saturday, January 17th at the Jamaica Pegasus Hotel in New Kingston, was met with exceptional consumer enthusiasm, signaling a strong post-hurricane economic rebound.

    Company executives reported an overwhelmingly positive response, with over 200 guests attending the exclusive unveiling. Channa Kay Walker, Sales Manager for Audi Jamaica, confirmed the substantial market interest, while Damien Kerr, General Manager of Oxford Road, revealed that the entire initial shipment of vehicles had already been pre-sold prior to the official launch.

    The new Q5 represents Audi’s engineering evolution, built upon the innovative Premium Platform Combustion architecture. This third iteration of Audi’s global best-seller over the past 15 years incorporates significant advancements across multiple domains including powertrain efficiency, performance metrics, interior spaciousness, and cutting-edge technology integration.

    Exterior styling embraces Audi’s contemporary design philosophy, featuring the distinctive singleframe grille and state-of-the-art lighting systems both front and rear. The vehicle’s expanded dimensions translate to enhanced passenger comfort and cargo capacity, while the interior showcases four fundamental design concepts: human-centric layout, visual clarity, digital stage presentation, and material-driven aesthetics. The cockpit is dominated by a sophisticated triple-screen configuration comprising an 11.9-inch Virtual Cockpit, 14.5-inch MMI interface, and an optional 10.9-inch passenger display.

    Powertrain options demonstrate Audi’s commitment to performance-efficiency balance. The standard variant features a 204bhp 2.0-liter turbocharged four-cylinder engine with front-wheel drive. For consumers seeking enhanced dynamism, the Q5 Sportback offers coupé-like styling, while the high-performance SQ5 variant delivers 367bhp through a 3.0-liter turbocharged V6 engine complemented by Quattro all-wheel drive. Mild-hybrid and Quattro versions are scheduled for later release in 2026.

    Despite challenges posed by Hurricane Melissa in late October 2025, Audi Jamaica maintains optimistic projections for the coming year. The company has announced plans to introduce additional models including the S3 and Q3 in subsequent months, reinforcing their product portfolio in the Jamaican luxury automotive market.

  • Privy Council dismisses contractor’s claim against WASA

    Privy Council dismisses contractor’s claim against WASA

    In a landmark legal reversal, the Judicial Committee of the Privy Council has unanimously allowed an appeal by Trinidad and Tobago’s Water and Sewerage Authority (WASA), nullifying a multimillion-dollar award previously granted to contractor Uniform Building Contractors Ltd (UBC). The January 22 judgment reinstates the High Court’s original dismissal of UBC’s claims, marking a significant victory for the state utility.

    The dispute originated from a 2007 design-build contract valued at $28 million for pipeline installation between Rio Claro and Mayaro. WASA terminated the agreement in 2009, prompting UBC to seek $13.9 million in compensation for alleged variations beyond the lump-sum contract. The contractor claimed additional costs for roadway pipe-laying, material disposal, backfill importation, and night work.

    Delivering the ruling, Sir Peter Coulson declared the Court of Appeal’s 2023 decision “fundamentally flawed” in its legal reasoning. The Privy Council determined that all four contested work items were expressly or implicitly included within the original contract scope and pricing structure. Crucially, the judgment emphasized that contractual interpretation—not an engineer’s on-site opinion—governs variation determinations.

    The Board further rejected appellate arguments regarding waiver and estoppel, noting these issues were never properly pleaded or evidenced during trial proceedings. Most damningly, UBC failed to comply with mandatory contractual procedures requiring variation claims to be submitted within 28 days—a condition precedent that barred any entitlement to additional payment.

    The ruling clarified that contract termination operates prospectively, unable to resurrect time-barred claims. “The eventual termination could not, in law, resurrect claims that had not been made in time,” the judgment stated, underscoring that contractual rights and obligations accrued before termination remain unaffected.

    Legal representation featured Anand Ramlogan, SC, Kate Temple-Mabe, and Ganesh Saroop for WASA, while Irshaad Ali and Adam Razack represented UBC. The decision reinforces strict adherence to contractual notice provisions and affirms that fairness arguments cannot override clear procedural requirements.

  • Caribbean Airlines says no eviction underway at Hope Road office

    Caribbean Airlines says no eviction underway at Hope Road office

    PORT-OF-SPAIN, Trinidad — Caribbean Airlines has formally addressed circulating media reports regarding its Kingston, Jamaica office location, explicitly stating that no eviction process is occurring. The airline characterized recent speculation as inaccurate, clarifying that the upcoming move from its Hope Road office is a strategic decision timed with the natural expiration of its current lease agreement.

    In an official statement released Friday, the airline detailed its transparent and continuous dialogue with the property landlord, emphasizing that such communication is standard corporate practice. The relocation is being executed as a carefully managed transition to guarantee uninterrupted business operations and maintain full service delivery for its clientele.

    The company moved to reassure passengers and stakeholders that all flight operations, customer service, and administrative functions continue without disruption or inconvenience. The relocation strategy is designed to be seamless, ensuring no degradation in service quality or operational efficiency.

    Reaffirming its commitment to customer satisfaction, Caribbean Airlines stated its primary focus remains on delivering a reliable and high-quality travel experience. This proactive approach to addressing the rumors underscores the airline’s dedication to operational transparency and maintaining public trust.

  • Blue Wave Harmony arrives to service seabridge

    Blue Wave Harmony arrives to service seabridge

    PORT OF SPAIN, TRINIDAD AND TOBAGO – The MV Blue Wave Harmony, the newly designated replacement for the Cabo Star on the critical inter-island seabridge, made its inaugural arrival at the Port of Port of Spain on January 22. This strategic introduction marks a significant infrastructure upgrade for the nation’s maritime transport network.

    The state-of-the-art roll-on/roll-off (ro-ro) vessel represents a substantial advancement in both cargo and passenger capabilities. It features significantly increased cargo capacity, state-of-the-art refrigerated storage facilities for perishable goods, and markedly improved passenger accommodations. These include private cabins and enhanced onboard amenities, aiming to transform the travel experience between the islands.

    From an operational perspective, the Blue Wave Harmony incorporates upgraded mechanical systems and built-in redundancies specifically engineered to minimize mechanical failures and reduce downtime. This addresses a persistent challenge that has long plagued freight operators and travelers reliant on the seabridge’s consistency.

    The business community in Tobago has responded with cautious optimism. Curtis Williams, Chairman of the Tobago Division of the TT Chamber of Industry and Commerce, characterized the vessel’s arrival as “a positive and timely development.” He emphasized to Newsday that reliable sea transport is absolutely critical for numerous sectors, including distribution, food and beverage, hardware, construction, and retail, all of which depend on the seabridge to maintain inventory and manage supply chains.

    However, the transition has not been without its critics. Martin George, Head of the Tobago Business Chamber, expressed significant concerns regarding a lack of transparency. He highlighted that essential operational details—such as the vessel’s exact capacity, scheduled sailing times, number of weekly sailings, and associated costs—have not been adequately communicated to the public or the business community. George pointed to the prior efficiency of the Cabo Star and stressed the necessity for clarity on the leasing costs and operational framework of its replacement to ensure the new service meets the islands’ economic needs.

  • High Court appoints liquidator, Newsday’s 32-year run nears end

    High Court appoints liquidator, Newsday’s 32-year run nears end

    In a landmark ruling that marks the end of an era for Trinidad and Tobago’s media landscape, the High Court has officially ordered the liquidation of Daily News Ltd, parent company of the Newsday newspaper, after 32 years of operation. Justice Marissa Robertson granted the winding-up petition on January 23, effectively terminating the publication’s print operations that began in September 1993.

    The court appointed Maria Daniel, a chartered financial analyst and partner at Ernst & Young Services Ltd, as liquidator tasked with assuming control of the company’s assets and managing debt repayment to outstanding creditors. The application faced no objections following its official publication in the Gazette on January 15.

    Legal representatives for Daily News Ltd, including attorneys Gregory Pantin and Miguel Vasquez of Hamel-Smith and Company, presented arguments highlighting the company’s insolvency and inability to meet financial obligations. Pantin specifically advocated against provisional liquidation, emphasizing the need for immediate commencement of the winding-up process to minimize additional risks.

    The petition cited Section 355(a) of the Companies Act as legal grounds for dissolution, stating shareholders deemed court-supervised liquidation “desirable and in the best interests of the company” given its unsustainable financial position.

    While Newsday published its final print edition on January 9, its digital operations continue pending the liquidator’s assessment of their viability during the proceedings. The hearing also addressed concerns regarding archival preservation, with interested party Brent Mark Bristol requesting formal safeguards for the newspaper’s historical records.

    Managing Director Grant Taylor previously characterized the closure as resulting from “a perfect storm of challenges” affecting print media globally. He cited multiple contributing factors including a 75% decline in print advertising revenue over the past decade, soaring production costs, changing reader preferences, and financial impacts from lengthy legal battles that left the company over $3 million out of pocket despite successful litigation outcomes.

    Taylor noted that even a minimal price increase from $2 to $3 prompted 40% of readership to abandon the publication, reflecting broader industry challenges in monetizing content. Despite the closure, Taylor expressed pride in Newsday’s legacy of “unwavering independence” and emphasized the critical role of media in maintaining democratic integrity.

  • NGC board needs lesson in economics

    NGC board needs lesson in economics

    A prominent voice from Princes Town has issued a stern warning regarding the National Gas Company of Trinidad and Tobago’s (NGC) recent decision to impose substantial increases in natural gas prices for local manufacturers. This strategic move, intended to boost NGC’s revenue streams, has raised significant concerns about its broader economic repercussions.

    The correspondence draws a direct parallel to a similar policy enacted by the previous PNM administration in 2016, which resulted in the permanent closure of the ArcelorMittal steel plant. That decision led to substantial job losses and a decline in foreign exchange earnings—consequences that now threaten to repeat themselves.

    This pricing shift directly contradicts the stated objectives of the Ministry of Trade Investment and Tourism, which has been actively promoting export growth, investment strengthening, and employment expansion. Instead of fostering these goals, the increased production costs will undermine local manufacturers’ competitiveness against subsidized imports in both domestic and international markets.

    The author points to global economic strategies for contrast: China has implemented export taxes on raw materials to stimulate domestic downstream production, while the United States employs tariffs to protect its manufacturing sector. Trinidad and Tobago appears to be moving in the opposite direction, inadvertently making foreign goods more competitive than locally produced items.

    Manufacturers are already grappling with rising electricity costs and National Insurance Scheme contributions. The natural gas price increase represents an additional burden that could diminish productivity, reduce employment opportunities, and decrease foreign exchange earnings—ultimately harming the nation’s economic stability and growth potential.

  • Ports under pressure as industry urges cargo owners to clear goods

    Ports under pressure as industry urges cargo owners to clear goods

    Jamaica’s maritime infrastructure continues to operate under severe pressure as unprecedented volumes of unclaimed shipments overwhelm port facilities and storage warehouses nationwide. The Shipping Association of Jamaica has issued urgent appeals to importers and cargo owners to expedite the collection of goods that have already been processed for release.

    Industry leaders report that operational challenges have persisted well beyond the typical holiday season congestion period. Corah Ann Robertson-Sylvester, President of the Shipping Association of Jamaica, emphasized the escalating nature of the crisis: “The accumulation of uncollected cargo creates compounding logistical complications. All maritime institutions, including government agencies, are implementing coordinated measures to address this situation, with some facilities extending operating hours to facilitate clearance.”

    The current gridlock stems from a perfect storm of operational disruptions. Hurricane Melissa’s impact on western Jamaica in October significantly hampered port operations just as seasonal import volumes began rising. This convergence was further exacerbated by substantial inflows of international relief supplies and diaspora contributions following the hurricane.

    As an emergency response, authorities diverted some cargo traffic from Montego Bay to Kingston terminals. However, these alternative facilities are now operating substantially beyond their designed capacity. Additional complications have emerged from expired Unaccompanied Baggage Allowance documentation, commonly known as “yellow forms,” which has delayed clearance for both personal and relief shipments.

    Industry stakeholders emphasize that resolving the backlog is critical for maintaining Jamaica’s economic stability. Prompt cargo clearance would reduce substantial demurrage and storage fees for businesses, protect supply chains essential to the tourism and retail sectors, and prevent inflationary pressure on consumer prices.

    Authorities are urging all parties with outstanding shipments—including importers, family members, brokers, and registered charitable organizations—to immediately regularize documentation and collect their goods. The maritime association recommends contacting shipping agents or warehouse authorities directly to arrange expedited clearance.

  • Antigua Cruise Port to unveil new terminal this weekend

    Antigua Cruise Port to unveil new terminal this weekend

    Antigua and Barbuda is poised to enter a transformative phase in its cruise tourism sector with the official unveiling of its state-of-the-art cruise terminal scheduled for January 24, 2026. Antigua Cruise Port has announced preparations for the landmark reveal, which will showcase the culmination of a significant infrastructure project.

    The development represents a cornerstone of the broader Upland Development Project, a strategic collaboration between the Government of Antigua and Barbuda and Global Ports Holding, the world’s largest independent cruise port operator. This partnership underscores a mutual dedication to revolutionizing the island nation’s maritime facilities.

    Officials emphasize that the project was driven by a tripartite mission: to comprehensively modernize cruise infrastructure, elevate the overall passenger experience to world-class standards, and create lasting, sustainable economic advantages for local communities. The terminal’s design progressed through meticulous phases, evolving from initial conceptual frameworks into detailed architectural plans and final construction blueprints, all aimed at materializing a forward-looking vision for Antigua’s tourism economy.

    In the days preceding the grand opening ceremony, Antigua Cruise Port has committed to releasing a series of comprehensive updates. These communications are designed to chronicle the project’s extensive journey from its original conception through to its final completion, highlighting the milestones achieved and the anticipated impact on the nation’s tourism landscape.

  • Antigua And Barbuda Tourism Authority Hosts U.S. Travel Advisory Board

    Antigua And Barbuda Tourism Authority Hosts U.S. Travel Advisory Board

    The Antigua and Barbuda Tourism Authority (ABTA) recently concluded a strategic on-island retreat for its U.S. Travel Advisory Board, bringing together prominent travel advisors from key American markets. The immersive program combined destination experiences with high-level strategic discussions aimed at strengthening trade relationships and enhancing the islands’ tourism appeal.

    Led by Dean Fenton, U.S. Director for ABTA, the retreat served as the final on-island meeting for the current Advisory Board before new appointments in March. The carefully orchestrated agenda featured comprehensive site inspections at premier resorts including Blue Waters Resort & Spa and Hodges Bay Resort & Spa, where board members evaluated accommodation standards and held strategic planning sessions with ABTA leadership.

    The experiential component showcased Antigua and Barbuda’s diverse tourism offerings through curated culinary experiences at renowned establishments including The Palm, The Cove, and White Sands Restaurant. Participants enjoyed a sailing excursion aboard the Excellence Catamaran, explored St. John’s shopping district, visited Prickly Pear Island, and experienced beachfront dining at The Hut. The program concluded with a dinner at Mamma Mia, highlighting the islands’ vibrant culinary scene.

    Beyond commercial activities, the retreat incorporated community engagement initiatives including a beach clean-up at Jabberwock Beach and a donation of supplies to the Denis Bowers Rehabilitation Centre. Minister of Tourism, Civil Aviation, Transportation and Investment, The Honourable Charles Fernandez, personally met with the group, expressing appreciation for their support and participation in these responsible tourism efforts.

    The current Advisory Board comprises senior travel specialists representing luxury travel, destination weddings, honeymoons, and experiential travel, including representatives from Travel Smart with Paula, Bayside Travel, Romantics Travel, and several other prominent agencies. This initiative forms part of ABTA’s ongoing strategy to deepen industry partnerships and drive increased visitor bookings to the dual-island nation.