Carib Scope

分类： business

  • Nuanced approach to gaming tax needed

    Nuanced approach to gaming tax needed

    Hospitality associations in Trinidad and Tobago are mounting strong opposition against the government’s planned gaming amusement tax increase, warning of severe consequences for community bars and their employees.

    The Trinidad and Tobago Coalition of Bars and Restaurants (TTCOBAR) alongside the Barkeepers Owners/Operators Association (BOATT) have issued forceful complaints regarding the proposed measure that would raise annual taxes per gambling machine from $6,000 to $25,000—an increase exceeding 400%. Industry representatives argue this dramatic hike would devastate hundreds of neighborhood bars that rely on machine revenues to maintain financial viability.

    This perspective has gained support from the Trinidad and Tobago Coalition of Service Industries, which has called for collaborative dialogue before implementation. Currently, approximately 60% of the nation’s 2,500 bars operate known gambling devices, with many establishments risking substantial fines for undisclosed machines due to the lucrative returns.

    The financial mechanics of these machines reveal why they’re so attractive to bar owners. After covering acquisition costs and annual taxes, the machines generate revenue without additional staffing requirements, sick leave, or drink-mixing services. They efficiently extract cash from patrons while creating no new employment opportunities.

    Unlike social bar games like pool or darts that encourage customer interaction and extended stays, these electronic gambling devices promote solitary, focused use. Despite their colorful interfaces and the softened term “gaming,” they constitute sophisticated gambling technology with lower payout rates than those offered in private members’ clubs.

    Bar owners already anticipate staff reductions to offset the new tax burden. There are also concerns that increased taxation might drive more operators to conceal their machines, potentially undermining tax collection efforts.

    Globally, taxes on gambling devices typically fund specific programs, including rehabilitation services for compulsive gamblers. The current proposal appears to be part of broader government efforts to finance programs through taxes that target harmful behaviors, though stakeholders argue the approach requires more nuanced consideration than a blunt tax increase.

  • JPS named CACU utility provider of the year

    JPS named CACU utility provider of the year

    KINGSTON, Jamaica — The Jamaica Public Service Company Limited (JPS) has received the prestigious Utility Provider of the Year award, marking the first presentation of this honor by the Consumer Advisory Committee on Utilities (CACU) in collaboration with the Office of Utilities Regulation (OUR).

    This distinguished accolade celebrates JPS’s comprehensive dedication to superior customer service, technological advancement, and unwavering national support. The evaluation framework for this new award category assessed utility companies across multiple critical dimensions: customer experience, service reliability, operational fairness, and strategic technological implementation.

    Selection methodology incorporated both public voting participation and empirical data gathered during the OUR’s extensive 10-week mystery shopping investigation conducted earlier this year.

    Pia Baker, Senior Vice President for Customer Experience and Commercial at JPS, emphasized that this recognition validates the company’s systematic modernization initiatives aimed at revolutionizing customer interactions. “This acknowledgment holds profound significance for our organization. We have deliberately pursued transformational changes in customer service delivery — expanding self-service capabilities through the MyJPS App, enhancing accessibility via the MyJPS Care Hub, minimizing customer wait times, and elevating service quality across all communication channels,” Baker stated.

    Baker specifically commended JPS frontline personnel for maintaining exceptional professionalism and empathy during challenging circumstances, particularly following Hurricane Melissa’s devastation. “While many customers experienced understandable distress during the hurricane aftermath, our teams demonstrated remarkable patience and dedication while simultaneously managing their personal recovery situations,” she observed. Baker additionally recognized business process outsourcing partner iTel for providing crucial support in maintaining voice contact operations.

    The utility executive framed the award not as a final achievement but as inspiration for continued customer-centric evolution. “We express gratitude to our customers who consistently provide feedback, voice concerns, and push us toward daily improvement. Customer service represents an ongoing journey of adaptation, listening, and progressive development,” Baker concluded.

    JPS continues to disseminate operational updates through its official website, social media channels, and traditional media outlets. Customers can monitor post-Hurricane Melissa restoration progress via the company’s dedicated restoration portal at https://www.jpsco.com/hurricane-melissa-restoration-updates/.

  • Hah-R-Mony Entertainment joins private-sector recovery push after Hurricane Melissa

    Hah-R-Mony Entertainment joins private-sector recovery push after Hurricane Melissa

    JAMAICA – In a significant demonstration of private sector mobilization, Hah-R-Mony Entertainment Limited has taken a leadership role in Jamaica’s post-hurricane recovery efforts as the island nation races against time to prepare for the imminent winter tourist season following Hurricane Melissa’s devastation.

    The entertainment conglomerate, which operates across approximately 21 hotels primarily along Jamaica’s tourism-dependent northern coastline, has deployed specialized crews, utility trucks, and heavy-duty equipment throughout Montego Bay. Their mission: clearing obstructed roadways, removing fallen trees, and eliminating hazardous debris that threatens the region’s accessibility.

    This strategic intervention aims to accelerate the restoration of vital transportation corridors while providing crucial support to Jamaica Public Service teams working to rebuild electrical infrastructure including downed light poles and other essential utilities.

    Garth Ramsay, Senior Director at Hah-R-Mony Entertainment, emphasized the company’s recognition of its fundamental role within Jamaica’s tourism ecosystem. “We transcend traditional entertainment services,” Ramsay stated. “As integral components of Jamaica’s economic infrastructure, we understand that tourism disruptions immediately affect local families. By deploying our resources to clear access routes and assist utility restoration, we’re facilitating a safer, accelerated return to normalcy for both visitors and residents alike.”

    CEO Ho-Chi-Min Castillo Rollfort characterized the initiative as embodying a broader vision of public-private collaboration and national resilience. “This represents the private sector functioning as a strategic force multiplier,” Rollfort explained. “Economic delays directly impact employment and livelihoods. Our field operations operate with urgency because temporal efficiency is critical. We maintain close coordination with public authorities to ensure safety compliance and honor our service commitments to guests. Today’s recovery pace directly translates into tomorrow’s stability for Jamaican families.”

    These efforts coincide with intensified clean-up operations across St James and adjacent parishes, where private stakeholders are converting high-level recovery pledges into concrete actions aimed at restoring infrastructure, operational readiness, and market confidence along Jamaica’s crucial tourism corridors.

    With the peak tourism season rapidly approaching, industry executives report that this coordinated public-private response is establishing the foundation for a robust and rapid post-hurricane economic recovery.

  • PLH Barbuda to Pump US$100M Into Economy in 2026, Employing 800 People, PM Says

    PLH Barbuda to Pump US$100M Into Economy in 2026, Employing 800 People, PM Says

    Prime Minister Gaston Browne has unveiled significant economic projections for Barbuda’s development during Parliament’s 2026 Budget presentation, highlighting the PLH project as a transformative economic catalyst. The luxury development initiative is forecast to generate approximately US$100 million in economic value for Antigua and Barbuda next year while creating employment opportunities for 800 workers.

    The Prime Minister emphasized that PLH represents one of the nation’s most substantial private-sector investments, serving as a primary engine for income generation and job creation on the island. Notably, local employment has reached exceptional levels with 80% of the project’s workforce comprising Barbudan residents—demonstrating how large-scale development directly benefits indigenous communities.

    Beyond immediate employment, the construction activities are projected to generate tens of millions in wages, contractual agreements, and procurement opportunities for local suppliers throughout 2026. This substantial economic injection underscores the project’s massive scale and its pivotal role in Barbuda’s broader economic expansion.

    Additionally, PLH is providing robust fiscal support to the Barbuda Council through tax revenues and fees exceeding $5 million annually. This steady revenue stream enables the Council to enhance public services and strengthen its financial sustainability.

    Positioned as a cornerstone of Barbuda’s tourism and real estate sector growth, the PLH development progresses alongside other major initiatives including Nikki Beach Barbuda’s residential phase, which anticipates commencing sales in early 2026. Further details regarding Barbuda’s development trajectory are expected during the upcoming budget debate sessions.

  • Marriott at Yeptons Beach on Track for Winter 2027 Opening, PM Says

    Marriott at Yeptons Beach on Track for Winter 2027 Opening, PM Says

    Prime Minister Gaston Browne has officially confirmed that construction of the new Marriott resort at Yeptons Beach is advancing according to schedule, with a targeted opening in winter 2027. The announcement was made during the presentation of the nation’s 2026 budget, where the Prime Minister highlighted this development as a cornerstone of a broader national strategy to revitalize the tourism sector.

    Browne positioned the Marriott project within a portfolio of high-value tourism investments currently transforming the nation’s hospitality landscape. This strategic push aims to significantly increase room capacity, attract premium international visitors, and solidify the country’s competitive standing within the Caribbean tourism market. The initiative is being driven by robust economic indicators, including elevated visitor expenditure, a strong rebound in cruise ship arrivals, and growing demand for high-profile international conferences and events.

    The Yeptons Beach Marriott is one of several multi-million dollar developments slated for completion within the next three years. It joins an impressive roster of projects such as the ultra-luxury One&Only Half Moon Bay, Murby Resorts, the expansive Buccaneer Beach development, and the exclusive Nikki Beach Barbuda residences. This construction boom is further amplified by the government’s preparations to host the 2026 Commonwealth Heads of Government Meeting, which is expected to draw significant global attention and visitor traffic.

    While specific architectural details and amenities for the new Marriott property were not disclosed in the budget address, the Prime Minister assured that all construction milestones are being met on time. Additional insights and detailed updates on the nation’s hospitality sector expansion are anticipated when the parliamentary budget debate reconvenes next week.

  • CIP Projected to Generate $120M in 2026, PM Says

    CIP Projected to Generate $120M in 2026, PM Says

    Antigua and Barbuda’s economic strategy continues to lean heavily on its Citizenship by Investment Programme (CIP), with Prime Minister Gaston Browne projecting $120 million in revenue from the initiative for the 2026 fiscal year. The announcement came during Thursday’s parliamentary session where Browne detailed the non-tax revenue streams underpinning the national budget.

    The CIP stands as a cornerstone of the nation’s fiscal architecture, consistently delivering substantial funding for critical national initiatives. According to the Prime Minister’s address, these funds directly support capital development projects, debt reduction strategies, and essential social programs that benefit the citizenry.

    This projected CIP revenue constitutes a significant portion of the overall $427.7 million in anticipated non-tax revenues for the upcoming fiscal period. The program’s financial inflows are strategically allocated to infrastructure modernization, climate resilience enhancements, and the government’s comprehensive housing agenda. Furthermore, these funds contribute to strengthening national reserves and ensuring broader fiscal stability.

    Browne emphasized the program’s instrumental role in maintaining budget surpluses and reducing the country’s debt-to-GDP ratio. While presenting the broader $1.49 billion budget framework, the Prime Minister identified the Antigua and Barbuda Sales Tax (ABST) as the top revenue source at $506.9 million, followed by import duties, corporate taxes, and travel-related levies.

    No immediate policy changes to the CIP were announced during the budget presentation. However, Browne highlighted the program’s consistent performance as a generator of foreign direct investment and government income. He noted that maintaining rigorous oversight and enhancing the program’s competitiveness remain government priorities, especially as international due-diligence standards continue to evolve.

    Additional specifics regarding the revenue framework are anticipated to emerge during the detailed budget debate scheduled for next week.

  • A vision for a prosperous Barbados

    A vision for a prosperous Barbados

    Despite facing significant headwinds including global pandemic disruptions, volcanic ash fallout from neighboring eruptions, and geopolitical tensions affecting oil prices and currency stability, Barbados has demonstrated extraordinary economic resilience since 2018. The Central Bank of Barbados has documented 17 consecutive quarters of sustained expansion through the third quarter of 2025, marking a period of remarkable economic performance.

    Nevertheless, escalating living expenses continue to pressure many citizens, particularly those relying on fixed or limited incomes. This economic pressure raises critical questions about how to distribute the benefits of growth more equitably across Barbadian society.

    Economic analysts propose a multifaceted solution combining effective governance, balanced economic expansion, productivity enhancements, and strategic cost management. True governance excellence extends beyond daily administration to encompass visionary leadership that harmonizes efforts across public institutions, private enterprises, and labor organizations.

    The nation must intensify its strategic foresight capabilities—establishing clear, evolving long-term objectives while synchronizing policy frameworks, resource allocation, investment strategies, and innovation initiatives. Observers note an interesting paradox: while some Barbadians exhibit relaxed attitudes toward work and education domestically, they frequently demonstrate exceptional drive and ambition when working abroad, often juggling multiple jobs while pursuing educational advancement.

    This suggests untapped potential for systematically harnessing innate creativity and adaptability to cultivate a culture characterized by discipline, innovation, and entrepreneurial spirit. Envisioning a transformed Barbados reveals a nation where leadership makes courageous decisions focused on long-term national interests rather than short-term political gains.

    In this envisioned future, the private sector would drive advancement in tourism, construction, cutting-edge technology, renewable energy, and a dynamic export-focused entrepreneurial environment supported by micro, small, and medium enterprises. Simultaneously, the public sector would streamline regulatory functions and enhance service delivery, while trade unions would advocate for improved labor productivity tied to fair compensation structures.

    By embracing a disciplined social partnership model with leadership committed to the common good, Barbados could emerge as a regional beacon of innovation and progress while establishing itself as a Caribbean pillar of prosperity. The nation now seeks a benevolent catalyst to initiate paradigm transformation and accelerate equitable development processes suitable for small island states, embodying the principle that knowledge should drive continuous improvement.

  • IDB ondersteunt diepgaande hervorming pensioenstelsel

    IDB ondersteunt diepgaande hervorming pensioenstelsel

    Suriname’s Vice President Gregory Rusland has convened with an Inter-American Development Bank (IDB) delegation to review progress on the nation’s comprehensive pension system reform. The high-level meeting focused on ongoing evaluations of the General Pension Fund and multiple retirement schemes, targeting August 2026 for finalized recommendations toward a more equitable and sustainable pension framework across both public and private sectors.

    Suriname’s current retirement landscape is characterized by fragmentation and complexity, with multiple administrators operating different pension arrangements. A specialized team comprising actuarial experts, policy planners, legislative attorneys, and labor specialists is leading the technical assessment process. The IDB provides both financial backing and technical assistance for this ambitious reform initiative.

    The collaboration, formally established through an August 2025 agreement, emphasizes stakeholder inclusion with active participation from employer associations and worker representatives. This approach aims to develop consensus-driven reform proposals that address systemic challenges while ensuring broad-based support.

    IDB representatives Juan Villa and Derek Osborne conducted the progress assessment during meetings with Vice President Rusland, who chairs the Security Systems Subcommittee within Suriname’s Council of Ministers. Rusland received comprehensive briefings on current developments and stressed the government’s commitment to establishing a robust, future-proof pension system that guarantees retirement security for all citizens.

  • Economic issues dominated the weekly agenda in Ethiopia

    Economic issues dominated the weekly agenda in Ethiopia

    Ethiopian Finance Minister Ahmed Shide has articulated a comprehensive vision for the nation’s financial future, positioning the newly established stock market as a cornerstone for global economic integration. In his address, Minister Shide emphasized that a well-regulated and transparent capital market ecosystem is fundamental to aligning Ethiopia with international financial standards and attracting foreign investment.

    The Minister detailed how the market framework would provide international investors with “clarity, consistency, and confidence” through diverse investment vehicles including government securities, corporate bonds, equities, and specialized infrastructure instruments. This structured access to Ethiopia’s productive economic sectors represents a significant shift in the country’s approach to global finance.

    Shide stressed the critical importance of inter-institutional coordination in building what he described as a “credible, resilient, and transparent financial ecosystem.” He outlined the government’s responsibility to establish fiscal and financial architecture that efficiently directs capital toward its highest value applications while enabling citizen participation in national economic growth.

    Beyond immediate financial infrastructure, the Minister framed this initiative as financing Ethiopia’s future—envisioning a “stable, dynamic, inclusive, and sustainable” economic trajectory. He specifically highlighted infrastructure development as a priority area where capital markets could have transformative impact, signaling a strategic alignment between market mechanisms and national development goals.

  • Belize Secures CARICOM Approval for Trade Deal with El Salvador

    Belize Secures CARICOM Approval for Trade Deal with El Salvador

    Belize has achieved a significant milestone in its international trade relations after securing formal approval from the Caribbean Community (CARICOM) for its proposed Partial Scope Agreement with El Salvador. The diplomatic breakthrough occurred during the 61st Council for Trade and Economic Development (COTED) meeting in Guyana, marking a critical step toward finalizing the bilateral trade arrangement.

    The negotiations, which commenced in 2023 with the first formal round conducted in December 2024, have progressed through three substantive rounds of discussions. The approval process reflects CARICOM’s established protocol requiring member states to obtain collective endorsement for external trade agreements. This mechanism ensures external partners cannot secure more favorable terms than those enjoyed by CARICOM members, thereby preserving the integrity of the regional common market and preventing discriminatory trade practices.

    Foreign Affairs and Foreign Trade Minister Francis Fonseca emphasized the agreement’s strategic importance, noting that it creates substantial opportunities for Belizean producers to access new markets and reduce trade barriers. Simultaneously, COTED approved an extension and expansion of Belize’s existing Partial Scope Agreement with Guatemala, further enhancing the nation’s regional trade network.

    These developments represent a deliberate strategy to stimulate economic growth through diversified trade relationships. The government identifies market expansion as fundamental to Belize’s economic future, with these agreements providing frameworks for increased exports and strengthened commercial ties throughout Central America and the Caribbean region.