The government of Trinidad and Tobago has unveiled an ambitious Revitalization Blueprint, aiming to transform the nation into a first-world country within a decade. The plan, announced on November 7, includes over 129 construction projects focused on key areas such as the Port of Spain and San Fernando waterfronts, Invaders Bay, Queen’s Park Savannah, and major expansions to the Port of Spain Port. The initiative promises to create more than 50,000 jobs and establish TT as a regional leader in excellence. However, the feasibility, investment, and timeline of these projects remain critical challenges. Business leaders have expressed cautious optimism, emphasizing the need for private sector engagement and foreign direct investment. Vivek Charran, President of the Confederation of Regional Business Owners, highlighted potential low-hanging fruit projects like the decommissioning of Carrera Island and road construction from San Fernando to Mayaro. He also noted the potential for high-rise residential buildings in Port of Spain and San Fernando, which could boost tourism and local economies. MovieTowne CEO Derek Chin emphasized the importance of sustainable tourism and the need for projects to make financial sense, warning against ‘white elephants’ like the National Academy for Performing Arts. While the plan has garnered significant endorsements, its success will depend on the government’s ability to attract investment and address past shortcomings.
分类： business
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Climate technology – invest now to achieve sustainability goals
Climate technology, or climate tech, has transitioned from a futuristic concept to a present-day necessity, according to a recent report by ACCA. As global organizations strive to achieve net-zero and sustainability goals, climate tech is increasingly recognized as a critical driver of innovation and investment. However, the readiness to adopt these technologies varies significantly across sectors. With COP30 underway in Brazil, the report highlights both the momentum and challenges in integrating climate tech into organizational strategies, emphasizing the pivotal role of accountants in bridging the gap between ambition and action. Climate tech is reshaping industries, creating opportunities, and attracting investment. While only 15% of organizations currently invest with clear financial or strategic rationale, there is growing interest in cautious investment (42%) and non-financial returns such as ESG and brand value (21%). Key areas of adoption include energy efficiency, carbon compliance, and sustainable supply chains, with green finance, carbon offsetting, and climate risk planning emerging as strategic priorities. Accountants are instrumental in guiding investments, embedding climate considerations into strategy, and ensuring transparent reporting. The report identifies challenges such as data readiness, long-term ROI, and internal capabilities but underscores the potential of AI and robust frameworks to unlock measurable value. Emmeline Skelton, ACCA’s Head of Sustainability, noted that while climate tech investments often involve high upfront costs and long payback periods, their true value lies in enhancing resilience, reducing long-term risks, and fostering sustainable value in a low-carbon economy. She emphasized the role of finance teams in shifting focus from quick returns to long-term benefits. The research also reveals a significant readiness gap, with 72% of organizations struggling with fragmented data, weak governance, or insufficient knowledge. Government support through policy, tax incentives, and skills development is deemed essential by 77% of organizations. By combining strong data, strategic oversight, and supportive public policy, accountants can help scale climate tech and rethink ROI. Additionally, ACCA’s research highlights the importance of interconnected sustainability and financial information for organizational resilience. Many respondents struggle to understand vital resources (25%) and stakeholder information needs (33%). The report offers ten recommendations, including moving beyond compliance, championing sustainability, and building agile systems to address these challenges.
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Embracing the gateway to Africa
The Pan-African Leadership Institute (PALI) recently launched its Gateway to Africa Leadership Course, a transformative program designed to strengthen ties between Africa and its diaspora. Hosted via Zoom on November 10, the event featured remarks from Vashti G Guyadeen, CEO of the TT Chamber of Industry and Commerce and PALI ambassador. The course welcomed 25 senior leaders from 13 countries, including Ghana, Rwanda, Jamaica, Canada, the UK, the USA, and Italy, reflecting the program’s global reach and commitment to diversity. Guyadeen emphasized the importance of this initiative in fostering unity and collaboration across continents. The four-week course offers participants a comprehensive exploration of Africa’s history, culture, economics, and emerging markets, alongside practical insights into doing business and traveling on the continent. It also addresses the legacy of colonization and ongoing efforts to heal and unite Africa with its diaspora. Guyadeen highlighted the program’s interactive nature, encouraging participants to engage in discussions, share perspectives, and build lasting professional and personal connections. She also extended an invitation to PALI’s 2025 Graduation and Leadership Immersion ceremony in Trinidad and Tobago, where participants can experience the country’s rich culture and forge deeper bonds with global leaders. The course underscores PALI’s mission to create a connected Pan-African world, empowering leaders to drive impactful change in their communities.
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Mexican car industry fears higher tariffs on China will drive its demise
Mexico’s automotive sector, a global powerhouse, is grappling with potential disruptions due to escalating trade tensions between the United States and China. A critical concern is the reliance on Chinese-sourced components for digital dashboard touchscreens, essential for modern vehicles. As the US intensifies its tariff war with China, Mexico faces pressure to align with its northern neighbor, with Congress considering increased tariffs on Chinese imports. President Claudia Sheinbaum advocates for these measures to bolster domestic manufacturing, but the reality is stark: Mexico lacks the capacity to produce most electronic parts, particularly for advanced dashboard systems. China remains the primary supplier, and finding alternative sources would be time-consuming and costly, threatening Mexico’s export-driven economy. Industry leaders, including Germany-based Aumovio, have voiced concerns about the dependency on Chinese parts, emphasizing the significant investment and years required to establish alternative supply chains. The Mexico-China Chamber of Commerce warns that such tariffs could harm the auto industry, which has flourished under the USMCA trade agreement. Meanwhile, some domestic manufacturers, like Kold Roll, view the situation as an opportunity to expand their market share. Despite these challenges, Mexico solidified its position as the US’s largest trading partner in 2023, exporting over 80% of its goods northward, including nearly 3 million vehicles annually.
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Top 5 online scams in the Caribbean
The Caribbean has witnessed an alarming surge in digital fraud between 2020 and 2025, as criminals exploit the rapid shift to online services and weak cybersecurity measures. What began as simple scams, such as requests for mobile top-ups, has evolved into sophisticated multi-million-dollar operations involving cloned websites, deepfakes, and cryptocurrency. Financial institutions have struggled to keep pace, leaving individuals and businesses vulnerable to increasingly complex cybercrimes.
According to the Bank of Jamaica, internet banking fraud skyrocketed by 890% since 2020, with losses surpassing JMD$800 million (US$5 million) by the end of 2023. Similarly, the TT Police Service reported TT$3 million (US$440,000) in online fraud losses in the last fiscal year, while Guyana’s Financial Intelligence Unit identified G$100 billion (US$478 million) in suspected fraudulent proceeds. Experts caution that these figures likely underestimate the true scale of the problem, as only 15% of fraud victims globally report such incidents.
The Caribbean’s digital transformation has outpaced its cybersecurity infrastructure, creating a fertile ground for fraudsters. Criminals exploit weak cyber-defenses, slow investigations, and limited public awareness to execute their schemes. Below are the top five online scams currently plaguing the region, along with tips to identify and avoid them:
1. **Investment and Forex Scams**: Fraudsters lure victims with promises of guaranteed profits through forex trading, crypto arbitrage, or private investment clubs. They create fake dashboards and testimonials to appear legitimate, only to disappear once funds are deposited.
2. **Banking and Card Fraud**: With the rise of digital banking, card and account fraud have surged. Scammers send fake texts or emails impersonating banks to steal login credentials or redirect funds.
3. **Social Media Impersonation Scams**: Hackers take over social media accounts to impersonate friends or family, requesting urgent financial assistance for fabricated emergencies.
4. **Fake News and Media-Brand Scams**: Fraudsters create fake news articles featuring local journalists or businesspeople to promote bogus investment platforms, tricking victims into sharing personal and financial information.
5. **Business Email and Corporate Scams**: Small and medium-sized enterprises are targeted through Business Email Compromise (BEC) schemes, where criminals impersonate suppliers or executives to reroute payments.
The situation is exacerbated by massive data breaches across the region, with telecoms, retailers, and government portals hacked, exposing sensitive customer information. These breaches provide scammers with the tools to craft highly personalized and convincing attacks.
To combat this growing threat, experts urge individuals and businesses to remain vigilant, verify requests before sending money, and report suspicious activity promptly. Reporting fraud to local authorities, financial regulators, and online platforms can help prevent repeat scams and protect others from falling victim.
As the Caribbean’s digital economy continues to expand, so too do the risks. Staying informed and proactive is essential to safeguarding financial security in an increasingly digital world.
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Gas prices up $1, diesel up $1
KINGSTON, Jamaica — Motorists across Jamaica are bracing for a significant increase in fuel prices starting Thursday, November 13, as announced by Petrojam, the nation’s sole oil refinery. The latest ex-refinery costs indicate a $1.00 rise in both grades of gasoline. Specifically, 90-octane gasoline will now cost $106.38 per litre, while 87-octane will be priced at $100.74 per litre. Additionally, automotive diesel fuel will be sold at $111.83 per litre, and ultra-low sulphur diesel will see a price of $117.95 per litre. Kerosene, a crucial fuel for many households, will be available at $119.14 per litre. Propane liquid petroleum and butane liquid petroleum will also experience price adjustments, with propane at $67.78 per litre and butane at $76.00 per litre. It is important to note that these prices are exclusive of mark-ups by marketing companies and retailers, which will further increase the final cost to consumers. This price hike is expected to have a ripple effect on various sectors, including transportation and manufacturing, potentially leading to increased costs of goods and services across the island.
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Imbert: 26% drop in First Citizens shares frightening
Former Finance Minister Colm Imbert has expressed deep concern over the significant 26% drop in the share price of First Citizens Group Financial Holdings (FCGFH) since April 28. In a post on X on November 11, Imbert described the situation as ‘sinister,’ suggesting potential market manipulation. He emphasized that despite FCB’s consistent earnings growth, the share price plummeted from $42 to $31 within six months, a decline he deems inexplicable without external interference. Speaking at the PNM’s weekly media conference on November 13, Imbert highlighted the impact on small investors, particularly pensioners, who have seen substantial losses in their investments. He urged authorities to investigate the matter, pointing out unusual trading patterns involving small volumes of shares that have caused significant price drops. According to the TT Stock Exchange, FCGFH shares closed at $33.75 on November 13, down from $41.90 on April 28. Finance Minister Davendranath Tancoo dismissed Imbert’s concerns, stating there was ‘nothing worthy of comment.’ Meanwhile, FCGFH Chairman Shankar Bidaisee and Acting CEO Jason Julien have yet to provide detailed responses, with Julien assuring stakeholders of the Group’s commitment to creating sustainable value.
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Grenada MSMEs benefit from UBEC Business Development Workshops
The Organisation of Eastern Caribbean States (OECS) Commission is actively bolstering the capabilities of Micro, Small, and Medium Enterprises (MSMEs) in key sectors such as fisheries, marine tourism, and waste management. This initiative is part of the Unleashing the Blue Economy of the Caribbean (UBEC) Project, which aims to enhance the operational efficiency and grant application success of MSMEs through a series of practical, skills-based training workshops. The first two sessions, focusing on Grant Proposal Writing and Effective Record-Keeping, have already been completed, providing participants with essential tools for business management and growth. The training series continues throughout November and December, offering both in-person and hybrid sessions on topics such as financial management, continuity planning, marketing, and more. These workshops are designed to strengthen the resilience and competitiveness of MSMEs within the Blue Economy, enabling them to apply for grant funding ranging from US$5,000 to $25,000 under the UBEC Regional MSME Matching Grants Programme. The application deadline for grant funding is Friday, 21 November 2025, at 11:59 pm. MSMEs are encouraged to take advantage of these training opportunities to enhance their business skills and secure funding for expansion, innovation, and sustainability efforts.
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China International Import Expo breekt records en sluit succesvol af
The 8th China International Import Expo (CIIE), held in Shanghai, concluded on November 10 with a record-breaking $83.5 billion in intended trade deals, marking a 4.4% increase from the previous year. This announcement was made by Wu Zhengping, Deputy Director of the CIIE Bureau, during a press conference following the six-day event. The expo, which featured 4,108 participating companies and a total exhibition area of 367,000 square meters, set new benchmarks in both scale and participation. Among the exhibitors were 290 Fortune 500 companies and 180 multinational corporations that have participated in all eight editions of the CIIE. This year, 461 new products, technologies, and services were introduced, slightly surpassing the 450 innovations showcased in 2024. Participating companies have already secured contracts for approximately 80,000 square meters of exhibition space for the 9th CIIE, scheduled for November next year. The CIIE serves as a vital platform for multinational companies to showcase advanced technologies and exchange ideas to better adapt to the rapidly evolving Chinese market. Wu Zhengping emphasized that China is not only a vast consumer market but also a partner that values collaboration and innovation. Senior representatives from participating companies, such as Jorg Buchheim of the German Webasto Group and Andreas Renulf of Hexagon AB, highlighted the importance of the CIIE in gaining insights for future innovations and praised China’s market dynamics and openness to new technologies. The expo also reflects China’s efforts to further open its economy, as noted by Jacky Zou of KPMG China, who referenced the recent 15th Five-Year Plan (2026–2030) promoting institutional openness and international trade rules. The event demonstrated growing confidence among international investors in China, with Bill Winters, CEO of Standard Chartered, emphasizing the positive impact of China’s ongoing openness and economic growth on global cooperation. China’s vast domestic market continues to be a powerful driver for international trade and consumption, with opportunities for American companies in sectors ranging from technology and agriculture to specialized products like ginseng, pet food, and wine. The expansion of China’s visa-free policy has facilitated an influx of foreign tourists, further stimulating consumption. During the CIIE, China Daily launched the International Communication Initiative to promote exports to China and shopping in China, aiming to enhance the visibility of the Chinese market globally and foster collaboration. According to data from Chinese customs, imports in October rose by 1.4% year-on-year, marking the fifth consecutive month of growth. Improved tax refund and consumption policies in China are stimulating both domestic consumers and foreign visitors, as noted by researcher Chen Jianwei of the University of International Business and Economics in Beijing. International companies like Pernod Ricard and Tapestry Inc. are investing heavily in expanding their presence in China, driven by increasing demand for premium products and the dynamism of the Chinese market. These optimistic sentiments align with China’s policy goals to strengthen the national market and sustainably stimulate economic growth, as outlined in the recent communique of the Central Committee of the Communist Party of China. For many foreign visitors, shopping in China is more than just consumption; it is a cultural experience where tradition and innovation converge, as reported by China Daily’s Rochelle Beiersdorfer.
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Major Caribbean insurance merger announced as General Accident and Beacon join forces
In a landmark corporate maneuver, General Accident Insurance Company (Jamaica) Limited (JSE: GENAC) and Beacon Insurance Company Limited have announced their merger, aiming to create a dominant insurance entity across the Caribbean. The strategic acquisition, finalized on October 31, 2025, by Musson (Jamaica) Limited, General Accident’s parent company, will see Beacon Insurance operate as a subsidiary under General Accident, pending regulatory approvals. This merger is poised to significantly bolster General Accident’s market reach, particularly in Trinidad and Barbados, while expanding its footprint into new territories such as Dominica, Grenada, St. Kitts, St. Lucia, and St. Vincent. With annual gross written premiums surpassing J$32 billion, General Accident’s influence continues to grow. Despite the merger, Beacon will maintain its operational independence under its established brands in Trinidad and Barbados, with its current leadership, including CEO Christopher Woodhams, remaining intact. Woodhams will report directly to Sharon Donaldson, Group CEO of General Accident, and will oversee operations for both brands in Trinidad. Additionally, Christian Hadeed, a director of Beacon, alongside Woodhams, will join the board of General Accident, with the Hadeed family becoming minority shareholders in the newly formed entity. Gerald Hadeed, founder of Beacon, expressed confidence in the merger, highlighting shared insurance principles and a commitment to client service. P.B. Scott, Chairman of General Accident, lauded the partnership, emphasizing the potential to create a robust platform across the Caribbean and enhance service delivery for clients of both companies.