Carib Scope

分类： business

  • Small business owners offered free training sessions

    Small business owners offered free training sessions

    The Ministry of Commerce’s Small Business Development Centre (SBDC) has announced an extensive virtual training initiative scheduled for January 12-23, 2026, designed to strengthen local micro, small, and medium-sized enterprises (MSMEs). This comprehensive professional development program, operating under the MSME Loan Grant Facility, will deliver advanced instruction in business planning and operational enhancement through daily Zoom sessions.

    The training curriculum features two identical sessions each day to accommodate varying schedules, with morning classes running from 10:30 a.m. to 12:30 p.m. and repeated evening sessions from 5:00 p.m. to 7:00 p.m. Participants can access all sessions through a consistent Zoom link, eliminating the need for multiple registrations.

    Seven specialized modules remain available for registration, each targeting critical business development areas:

    Advanced Business Planning (January 14)
    Enterprise Development and Innovation (January 15)
    Digital and E-Commerce Readiness (January 16)
    Business Continuity and Risk Management (January 20)
    Standards Implementation (January 21)
    Export Planning (January 22)
    Environmental Sustainability (January 23)

    Upon completing all modules within either the Advanced Business Planning or Operational Enhancement course tracks, participants will receive official certificates of achievement. The SBDC emphasizes that eligibility extends beyond loan grant applicants, welcoming all MSME owners seeking to enhance their business capabilities.

    Prospective attendees can register through dedicated links available on the Ministry of Commerce’s official Facebook platform, where additional program details and technical requirements are provided.

  • Natascha Kalo voorgedragen als gedelegeerd commissaris bij Grassalco

    Natascha Kalo voorgedragen als gedelegeerd commissaris bij Grassalco

    In a significant corporate governance development, Natascha Kalo has been appointed as interim executive commissioner of N.V. Grassalco following her nomination by shareholders. The company’s Board of Commissioners ratified the appointment during an emergency meeting held Thursday morning.

    Kalo’s elevation to this temporary leadership position comes just days after the Board suspended CEO Wesley Rozenhout on Monday, January 12th. This decisive action is directly connected to an ongoing investigation into the disappearance of approximately four kilograms of gold from the state mining enterprise.

    The Board of Commissioners, chaired by Berto Sampi, emphasized the critical need for unimpeded information flow to ensure a thorough and independent investigation. The suspension of Rozenhout was additionally justified by alleged violations of company statutes according to official statements.

    In her new capacity as executive commissioner, Kalo will assume specific temporary duties and authorities to exercise intensified oversight of organizational operations. This interim governance structure will remain effective until the appointment of a new permanent chief executive officer.

    Meanwhile, Grassalco has initiated an internal ‘quickscan’ assessment while maintaining normal daily operational activities. The current Board of Commissioners comprises Chairman Berto Sampi alongside members Steven Jungerman, Joël Anches, and Ivan Brunswijk, who will continue to provide governance during this transitional period.

  • Operators say crime, logistics hinder Sunday NLCB draws

    Operators say crime, logistics hinder Sunday NLCB draws

    Trinidad’s online gaming sector faces potential disruption as the National Lotteries Control Board (NLCB) considers implementing Sunday draws for several popular lottery games, despite no official confirmation from the regulatory body.

    According to Dean Persad, President of the Online Gaming Agents Association of TT (OGAATT), lottery equipment provider Brightstar Lottery (formerly IGT lottery division) has been circulating notices among agents regarding proposed Sunday drawings for Play Whe, Pick 2, Pick 4 and Cash Pot games, effective February 8, 2026. The document, which surfaced on social media January 14, claims the NLCB board resolved to amend draw schedules under the National Lotteries Act.

    Finance Minister Davendranath Tancoo, whose ministry oversees NLCB, acknowledged awareness of the initiative as part of the board’s “business expansion model” but provided no further details. Newsday’s attempts to verify the document’s authenticity with NLCB and Brightstar representatives proved unsuccessful.

    Persad expressed significant concerns about the potential implementation, citing multiple operational challenges. “The disrespect, callousness, exploitation and lack of consideration towards agents continues under this new regime,” he stated, emphasizing that the association should have been consulted on matters directly affecting their members.

    Key concerns include uncertainty about whether Sunday operations would be mandatory or optional, potential labor cost implications requiring double and triple-time payments under Trinidad’s labor laws, increased security risks due to reduced street activity on Sundays, and anticipated low sales volumes as families typically remain home. Additionally, agents questioned how Sunday operations would affect weekly settlement procedures that currently run Monday through Saturday.

    The association president revealed profound disappointment with the newly appointed NLCB board’s lack of engagement since their July 25 installation. Despite repeated attempts to schedule meetings—including one cancellation after date confirmation—and direct intervention from the Prime Minister who emailed ministers instructing them to meet with OGAATT, Persad said the board has consistently ignored communication attempts.

    “We are the most important stakeholders in the whole organization,” Persad emphasized. “We are the point people bringing in the money for the organization. Why not engage us and hear what we have to say?” The association continues seeking respectful dialogue with NLCB leadership to address their operational concerns before any Sunday draw implementation.

  • $250m Six Senses resort yet to break ground

    $250m Six Senses resort yet to break ground

    The ambitious Six Senses luxury resort development in Grand Bahama has encountered significant delays, missing its projected 2026 opening timeline and casting doubt on the project’s future viability. Despite detailed master plans unveiled in September 2024 by development consortium Weller Development Partners and Pegasus Capital Advisors, construction on the $250 million project has yet to commence on the designated 50-acre Barbary Beach site.

    The resort, initially promoted as a transformative investment for Grand Bahama’s tourism sector, was designed to feature 70 luxury villas, 28 branded residences, and premium amenities including a world-class spa, multiple dining establishments, a beach club, and event spaces. Marketed as an eco-conscious development, the project emphasized sustainability and resilience with designs engineered to withstand Category 5 hurricanes while integrating seamlessly with the natural landscape.

    Local stakeholders have expressed growing concern over the development’s stagnation. Peter Turnquest, former president of the Grand Bahama Chamber of Commerce, described the situation as particularly disappointing given the project’s potential to revitalize the island’s luxury tourism infrastructure and generate substantial employment opportunities. ‘What was hailed as a breakthrough investment for Lucaya and Grand Bahama in general has gone cold without any explanations,’ Turnquest noted.

    The development team had previously indicated that construction would begin immediately following environmental approvals, with CEO Marc Weller expressing confidence in summer 2024 about rapid progress once permits were secured. However, despite completing the Environmental Impact Assessment process and public consultations in January 2024, no visible progress has been made.

    The absence of communication from both developers and government officials has fueled speculation about potential obstacles, including whether infrastructure limitations such as airport facilities might be contributing to the delay. Turnquest suggested that while airport upgrades might be necessary, they shouldn’t fundamentally impede investment in the region.

    With the original timeline now obsolete, stakeholders await updated information regarding the project’s revised schedule and the underlying causes for the unexpected delay, as the promised economic benefits remain unrealized.

  • The Agency Bahamas closes record year, eyes $100m in 2026

    The Agency Bahamas closes record year, eyes $100m in 2026

    The Agency Bahamas has announced an extraordinary 68 percent increase in annual sales for 2025 compared to the previous year, heralding what the firm characterizes as an unprecedented period of growth. This performance has established a new benchmark for the brokerage and prompted the setting of aggressive expansion objectives for the coming year.

    According to an official release, this substantial growth is attributed to robust demand emanating from both domestic and international property buyers, coupled with sustained vigor within the premium real estate market. Danny Lowe, the Founder and Managing Partner, emphasized that these results are a direct indicator of escalating confidence in The Bahamas as a premier destination for high-value property investments.

    “These milestones are not merely numerical achievements; they symbolize the trust we have cultivated, the enduring relationships we have forged, and our profound comprehension of the evolving desires of contemporary buyers in The Bahamas,” Mr. Lowe stated.

    In its annual assessment, the company celebrated its highest achievers, bestowing Dexter Avney with the title of Top Producer of the Year. James Galantis was honored as the runner-up, while Condra Driver received recognition as Rookie of the Year.

    With an optimistic outlook for 2026, The Agency Bahamas is targeting sales exceeding $100 million. Its strategic growth plan includes geographical expansion into the islands of Eleuthera and the Abacos. Furthermore, the brokerage intends to establish a specialized development and advisory division. This new arm will be dedicated to providing comprehensive support to investors, developers, and landowners undertaking larger, more intricate projects.

    Market dynamics continue to be propelled by high-net-worth individuals seeking properties that enhance their lifestyle. Notably, demographic shifts are occurring, with Millennials and Generation X exerting a greater influence on the market. Their investment decisions are increasingly driven by an interest in multi-generational living arrangements and long-term legacy planning.

    Mr. Lowe affirmed that The Bahamas maintains a strong position within global luxury real estate trends, bolstered by consistent foreign interest and the nation’s dual appeal as an idyllic lifestyle haven and a sound investment location.

    “Our strategic focus for 2026 is to solidify our role as the essential partner for buyers and investors who seek more than just a transaction—they desire a long-term vision for living, creating a legacy, and achieving growth within this dynamic market,” he concluded.

  • Energy Minister, Perenco executives discuss Greater Angostura assets

    Energy Minister, Perenco executives discuss Greater Angostura assets

    In a significant development for Trinidad and Tobago’s energy sector, multinational oil and gas company Perenco convened high-level talks with Ministry of Energy and Energy Industries (MEEI) officials on January 14. The meeting centered on Perenco’s recent acquisition of Greater Angostura oil and gas assets and associated production facilities, marking a substantial investment in the country’s energy infrastructure.

    During the strategic discussions at the ministry headquarters, Perenco executives delivered comprehensive updates on operational advancements and outlined plans to enhance efficiency across their Trinidadian operations. The dialogue emphasized collaborative initiatives designed to sustain and strengthen investment in the nation’s critical energy sector.

    Energy Minister Dr. Roodal Moonilal expressed the government’s endorsement of Perenco’s initiatives to extend the productive lifespan of mature oil fields while fostering a favorable investment climate. The minister emphasized the administration’s commitment to supporting energy companies in maximizing Trinidad and Tobago’s hydrocarbon resources.

    Perenco detailed performance metrics from their existing operations, including the CAFI gas fields (Cashima, Amherstia, Flamboyant, and Immortelle) and revealed development strategies for the Onyx field situated within the Teak, Samaan, and Poui (TSP) area.

    The energy company’s delegation, led by CEO Armel Simondin, reaffirmed their commitment to maintaining close collaboration with MEEI as current projects progress and new opportunities materialize in the local energy landscape. The meeting participants included key figures from both organizations, underscoring the importance both parties place on this strategic partnership.

  • Jamaica Broilers secures $15-b bailout following US operations crisis

    Jamaica Broilers secures $15-b bailout following US operations crisis

    In a landmark financial intervention, NCB Financial Group has orchestrated a comprehensive $15.1-billion (JMD) stabilization package for the Jamaica Broilers Group (JBG), pulling the iconic agribusiness from the verge of collapse following devastating losses in its American division. The rescue financing, formally announced on Wednesday, combines substantial new credit facilities with a sophisticated multi-tranche bond restructuring designed to grant JBG the necessary liquidity and strategic time to implement a rigorous corporate turnaround.

    The financial architecture of the deal involves two primary components. National Commercial Bank Jamaica Limited (NCBJ) is providing $6.4 billion in direct loans. Concurrently, NCB Capital Markets (NCBCM) has arranged a complex $8.7 billion bond issuance, with tranches extending maturities up to 14 years. Beyond capital injection, the NCB team spearheaded critical negotiations with JBG’s domestic creditors to reset financial covenants and modify existing collateral agreements, creating a more sustainable capital structure.

    This crisis originated from severe accounting irregularities and operational failures within JBG’s US segment, which triggered massive financial hemorrhaging. Paradoxically, the company’s core Jamaican operations consistently remained profitable and viable, a fundamental factor that convinced NCB to back the rescue. The strength of these domestic assets, vital to national food security and employment, formed the cornerstone of the bailout decision.

    Angus P Young, CEO of NCBCM, emphasized the strategic importance of the intervention, stating, ‘Our support is grounded in the strength of the company’s core Jamaican operations and the decisive corrective actions now underway.’ He noted the financing was specifically tailored to align with JBG’s unique recovery needs and capital requirements.

    The entire financial package is contingent upon the execution of a strict corporate overhaul already in motion. Under the conditions of the bailout, Group President and CEO Christopher Levy is implementing a disciplined recovery strategy focused on radical governance enhancement, fortified financial controls, and direct Jamaican oversight of the troubled US operations. The company has also engaged auditors with specialized sector experience to ensure transparency.

    For decades, JBG has been an indispensable pillar of Jamaica’s agricultural economy, supplying poultry, eggs, and animal feed, thereby supporting countless rural livelihoods. This rescue deal not only secures the company’s future but also serves as a powerful demonstration of NCB Financial Group’s capacity to structure and lead large-scale domestic financial stabilizations.

  • Jamaica’s unemployment rate now 3.3 per cent, says STATIN

    Jamaica’s unemployment rate now 3.3 per cent, says STATIN

    Jamaica’s labor market demonstrated resilience with unemployment declining to 3.3% in October 2025, showing improvement from the 3.5% rate recorded during the same period in 2024. The Statistical Institute of Jamaica (STATIN) disclosed these findings in its latest Labour Force Survey released Thursday, providing crucial insights into the nation’s employment landscape.

    The report indicates relative stability in employment levels with 1,413,200 persons employed in October 2025, representing a marginal decrease of 3,800 individuals compared to the previous year. Concurrently, the number of unemployed persons decreased from 51,300 to 48,800, contributing to the improved unemployment rate.

    Notably, Jamaica’s labor force experienced a contraction, falling by 6,300 individuals to reach 1,462,000. This decline manifested differently across genders, with the male labor force decreasing by 11,900 to 777,200, while the female labor force expanded by 5,600 to 684,800. The overall labor force participation rate consequently edged down to 67.8% from 68.1% in October 2024.

    The survey also recorded 693,800 individuals outside the labor force, marking an increase of 6,300 persons year-over-year.

    STATIN emphasized that these statistics capture Jamaica’s labor market conditions immediately preceding Hurricane Melissa’s landfall on October 28, 2025. The catastrophic weather event significantly disrupted data collection operations, particularly in western parishes including St Elizabeth, Westmoreland, St James, Hanover, and Trelawny.

    In response to these challenges, STATIN implemented modified methodologies, deploying an abbreviated version of its standard questionnaire to maintain data continuity while capturing essential labor market indicators. The institution extended both data collection and processing timelines by two weeks beyond the typical six-week period due to the hurricane’s extensive impact on field operations.

  • Economist warns businesses of ‘black swan events’

    Economist warns businesses of ‘black swan events’

    Economist and Independent Senator Marlene Attzs has issued a stark warning to Trinidad and Tobago’s business community about the looming threat of catastrophic “black swan” events that could devastate even well-established enterprises. Speaking at a conference hosted by the TT Extractive Industries Transparency Initiative and the TT Chamber of Industry and Commerce on January 13, Attzs described these events as a dangerous convergence of unpredictable shocks that could derail the most carefully laid business plans.

    The urgency of this warning is underscored by recent developments in the local business landscape, including Newsday’s announcement of its winding-up process after more than three decades of operation. Managing director Grant Taylor attributed this decision to a “perfect storm” of challenges, mirroring similar struggles across multiple industries from energy to retail and entertainment.

    Attzs emphasized that these black swan events may already be unfolding, citing recent airspace compromises that forced flight cancellations as a potential precursor to more significant disruptions. She pointed to escalating geopolitical tensions, including the US-China rivalry and renewed Russian activity, as factors that could create concentric circles of impact affecting even peripheral economies like Trinidad and Tobago.

    The conference panel, which included TTEITI co-ordinator Sherwin Long, senior fellow Preeya Mohan, and chairman Gregory McGuire, identified multiple systemic risks to the national economy. Chief among these is the country’s persistent dependence on the volatile oil and gas sector, which continues to drive GDP fluctuations and government revenue instability.

    Long revealed that between 2011 and 2024, the upstream energy sector contributed US$17.3 billion in foreign exchange, with companies like bpTT and NGC providing over US$7 billion. However, he noted that this volatility is largely driven by external factors beyond local control, including global energy prices, demand-supply imbalances, and geopolitical tensions.

    Attzs highlighted additional concerns regarding the nation’s economic dependence on government support and rising debt challenges. Latest data indicates Trinidad and Tobago’s debt-to-GDP ratio has reached 85 percent and continues to climb, creating fiscal constraints that could limit the government’s ability to respond to economic crises.

    Mohan addressed emerging trade-related risks, particularly the Carbon Border Adjustment Mechanism (CBAM) and adjustments to tariff regimes. She warned that 90 percent of TT’s exports to the EU—accounting for 14 percent of total exports—could be affected by CBAM, while half of exports to the US (30 percent of total) face similar exposure. These mechanisms could increase taxes on the ammonia sector by 22 percent, though implementation of emission reduction technologies like carbon capture could mitigate these impacts.

    The consensus among experts is that data-driven preparedness represents the most effective defense against these converging challenges. Attzs urged businesses to professionalize, modernize, and leverage available data to build resilience, conduct thorough risk analyses, and develop strategic plans for survival in an increasingly uncertain global economic landscape.

  • Cruise line suspends visits to Haiti

    Cruise line suspends visits to Haiti

    MIAMI – Royal Caribbean International, the sole cruise operator with scheduled service to Haiti, has announced a significant extension of its suspension of voyages to its private destination in the Caribbean nation. The company confirmed it will halt all port calls to Labadee through the end of 2026, citing ongoing security concerns and escalating gang violence that has destabilized the country.

    The decision represents a substantial extension of previous operational pauses, which had been set through April 2026. A corporate spokesperson characterized the move as “an abundance of caution” given the deteriorating security environment in Haiti, where criminal organizations continue to challenge the provisional government’s authority.

    This security assessment aligns with the United States State Department’s Level 4 travel advisory – its most severe classification – which explicitly warns against all travel to Haiti. The advisory highlights prevalent armed criminal activities including kidnapping for ransom, carjackings, sexual assault, and robbery.

    Labadee, Royal Caribbean’s privately leased peninsula on Haiti’s northern coast, typically offers passengers exclusive access to five secluded beaches, an 800-meter zipline course, aquatic attractions, and premium amenities. The resort maintains its own dedicated security force, though this has proven insufficient to mitigate broader regional risks that affect cruise operations.

    The extended suspension through December 2026 reflects the cruise industry’s mounting concerns about passenger safety in destinations experiencing political instability and widespread violence. This operational decision will necessitate itinerary redesigns affecting numerous scheduled voyages and represents a significant economic impact to both the cruise line and local vendors who depend on tourism revenue.