分类: business

  • Regional development banks launch debt-for-resilience initiative at COP30

    Regional development banks launch debt-for-resilience initiative at COP30

    In a landmark move to enhance disaster resilience and alleviate debt burdens, the Inter-American Development Bank (IDB), CAF – Development Bank of Latin America and the Caribbean, and the Caribbean Development Bank (CDB) have unveiled the Caribbean Multi-Guarantor Debt-for-Resilience Joint Initiative. Announced during COP30, this regional program aims to leverage guarantees from multilateral development banks (MDBs) and private sector partners to create fiscal space for Caribbean nations, enabling investments in resilience measures without escalating debt levels. The initiative focuses on three core objectives: scaling up debt-for-resilience swaps, strengthening coordination among MDBs, governments, and private sector partners, and improving transparency and monitoring standards to attract further investment. A dedicated facility under a Framework Agreement will be established to coordinate guarantors in debt-for-resilience swap transactions, ensuring alignment with national development priorities and sovereign debt management strategies. The initiative also plans to develop common principles for guarantee terms, shared taxonomies, and key performance indicators (KPIs) for resilience investments, aligned with global benchmarks. By simplifying multi-guarantor debt swaps, the program aims to attract new guarantors, reduce costs, and accelerate execution. Each transaction will include a regional public-goods component to bolster collective resilience across the Caribbean. The IDB, CAF, and CDB, with their extensive experience in sustainable development and regional integration, are well-positioned to drive this transformative initiative.

  • Cabinet Meets 14 Contractors in First-of-Its-Kind Session; New Support Unit and Sector Reforms Announced

    Cabinet Meets 14 Contractors in First-of-Its-Kind Session; New Support Unit and Sector Reforms Announced

    In a groundbreaking session, the Antigua and Barbuda government convened a high-level meeting with 14 local contractors, marking a pivotal moment in the nation’s construction sector. The meeting, held on Wednesday, was attended by Prime Minister Gaston Browne, Works Minister Maria Bird Browne, and senior ministry officials. The dialogue focused on addressing long-standing industry challenges and introducing transformative reforms to enhance the sector’s competitiveness and modernization. Contractors lauded the government’s direct engagement, describing it as a critical step toward fostering a robust local industry. They also commended the Works Ministry for its improved communication, organizational efficiency, and consistent payment practices under Minister Browne’s leadership. Prime Minister Browne acknowledged decades of persistent issues, including cash-flow constraints, cost overruns, project delays, and weak management practices. He emphasized the need for modernization to empower local contractors to operate at international standards while meeting national timelines and budget requirements. As part of the reforms, the Ministry of Works will establish a Contractor Support Unit to assist firms with bid preparation, costing, administrative systems, technical support, and training aligned with global benchmarks. The unit will also prepare local companies for major tenders, including projects funded by the Caribbean Development Bank in Barbuda. The ministry will launch its first bid-preparation workshop on Monday at the John E. St. Luce Centre. Additionally, the government reaffirmed its commitment to timely payments and promoted joint contracting arrangements between local firms and established regional or international companies to facilitate knowledge transfer, management capacity, and access to working capital. This meeting is the first in a series, with further sessions planned with contractors, farmers, and supermarket operators. Both the government and contractors agreed that the session marked a significant stride toward building a more competitive, modern, and resilient construction sector in Antigua and Barbuda.

  • HR professionals awarded and challenged

    HR professionals awarded and challenged

    At the HRMAB 30th Anniversary Awards Gala, held at the Sandals Resort Ballroom under the theme ‘Celebrating Excellence: Advancing People,’ Dr. Allyson Leacock issued a compelling challenge to human resource professionals. She urged them to take bold actions within the next 90 days to create a workforce that is less fearful of the future, more skilled, inclusive, and prepared for upcoming challenges. Dr. Leacock emphasized the global evolution of work, highlighting the growing demand for analytical and creative thinking, AI proficiency, and data literacy. However, she also underscored the enduring importance of human skills such as leadership, empathy, and lifelong learning. She advocated for a shift towards valuing skills and ongoing certifications over traditional degrees, job titles, and tenure, stating, ‘Skills are the new currency.’ Dr. Leacock encouraged HR professionals to develop dynamic skills taxonomies, recognize micro-credentials, and benchmark roles based on competencies rather than titles. She also stressed the need for continuous learning, supported by data from the World Economic Forum, which predicts the reskilling of many workers by 2027. Dr. Leacock called for a cultural shift from compliance to high performance and growth, emphasizing the importance of clear goals, continuous feedback, fair rewards, and visible growth pathways. She warned against the mindset of ‘everything is awesome,’ which fosters mediocrity, and reminded the audience that ‘potential is not perfection.’ Wayne Sobers, Chief Labour Officer, echoed these sentiments, highlighting the transformative impact of globalization, technological advancements, and economic changes on the workforce. He proposed targeted training, leadership development programs, ethical HR practices, and continuous learning as essential initiatives for workforce development. Sobers emphasized that effective human resource management is crucial for sustainable enterprises and national progress, aligning HRMAB’s efforts with the government’s vision for social and economic transformation. HRMAB President Tisha Peters also called for HR professionals to become strategic partners and change agents within their organizations. She urged them to leverage data, align with organizational goals, and lead proactively. Peters emphasized the importance of mentorship for preserving the profession’s legacy and announced the launch of the ‘HRMAB Arni Walters Scholarship for Human Resource Excellence’ in honor of the late HRMAB trustee. The scholarship, sponsored by the Inter-American Development Bank, will be administered by the University of the West Indies Cave Hill Campus starting in 2026.

  • Antigua to Get Modern Private Jet Lounge Under New UAE Deal

    Antigua to Get Modern Private Jet Lounge Under New UAE Deal

    On November 20, 2025, during the prestigious Dubai Airshow, the Embassy of Antigua and Barbuda to the United Arab Emirates (UAE) announced a groundbreaking strategic partnership. A Memorandum of Understanding (MOU) was signed between Jetex, a global leader in executive aviation, and Diplomatic Solutions, a strategic advisory firm. This agreement focuses on the development of a state-of-the-art Fixed Base Operation (FBO) at VC Bird International Airport in Antigua and Barbuda.

    The collaboration signifies a transformative step in bolstering the aviation infrastructure of the twin-island nation. The new FBO will feature premium lounges, concierge services, and efficient handling for private jet clients, positioning Antigua and Barbuda as a premier destination for luxury private aviation. The project aims to harmonize world-class amenities with the natural allure of the Caribbean islands.

    Adel Mardini, Founder and CEO of Jetex, expressed enthusiasm for the venture, stating, ‘We are excited to bring the Jetex experience to Antigua. Drawing inspiration from the island’s rich heritage, our bespoke FBO will enhance its luxury hospitality offerings and attract discerning international travelers.’

    Jetex is renowned for its excellence in executive aviation, offering services such as FBO management, trip planning, ground handling, and aviation fuel. Diplomatic Solutions specializes in fostering private-public partnerships, making this collaboration a strategic alignment of expertise and vision.

    This initiative is expected to significantly boost tourism and economic growth in Antigua and Barbuda, further cementing its status as a luxury travel hub.

  • Over 1 600 new rooms ‘by 2029’ as investors back tourism biz — minister

    Over 1 600 new rooms ‘by 2029’ as investors back tourism biz — minister

    Barbados is witnessing an unprecedented surge in its tourism sector, with over 1,600 new hotel rooms slated for completion by 2029 and earnings already skyrocketing. The island nation is aggressively enhancing its global appeal through strategic investments and innovative marketing approaches. Minister of Tourism and International Transport, Ian Gooding-Edghill, highlighted the multifaceted improvements driving this growth, including enhanced air connectivity, upgraded airport facilities, and better ground services such as taxis and car rentals. Additionally, significant upgrades in hotels and restaurants are contributing to the sector’s robust performance. Gooding-Edghill emphasized the critical role of tourism in generating foreign exchange and creating employment opportunities, stating, ‘If that is not a signal of confidence in the tourism sector, then I ask you what is.’ The financial impact is already evident, with tourism earnings increasing by $418.7 million in 2024 compared to the previous year, totaling $2.7326 billion. Looking ahead, further growth is anticipated in 2025. The minister also stressed the importance of revitalizing existing properties and tourism-related activities to maintain Barbados’ strong international brand. He called for continuous reinvestment in various tourism-led activities, from hotels to local attractions and restaurants, to ensure the island remains a top-tier destination. Andrea Franklin, CEO of the Barbados Tourism Marketing Inc. (BTMI), urged hoteliers and restaurateurs to forge deeper partnerships with local businesses, such as farmers and fisherfolk, to incorporate more local produce into their offerings. Franklin also advocated for enhanced collaboration across all source markets to sustain growth. Furthermore, Gooding-Edghill underscored the need for modernized marketing strategies leveraging artificial intelligence to boost global brand recognition. He acknowledged that while Barbados has a strong brand, there is significant room for improvement in global recognition, which will be a key focus for the BTMI moving forward.

  • Port fast-tracks repairs, upgrades before peak season

    Port fast-tracks repairs, upgrades before peak season

    Barbados Port Inc., the state-owned operator of Bridgetown Port, is intensifying efforts to complete essential repair and infrastructure projects in preparation for the upcoming cruise season. Key initiatives include breakwater repairs, new fuel pipelines, and enhanced ship-to-shore communication systems, all aimed at ensuring optimal customer satisfaction and operational efficiency. Managing Director and CEO David Jean-Marie revealed that several projects are nearing completion, with high-bandwidth communication systems expected to be operational by next week. The breakwater, damaged by Hurricane Beryl in July 2023, is slated for repair by February, a critical step to accommodate the influx of cruise ships already booked for the year. Additionally, a $24 million joint venture with Sol and the Barbados National Energy Company Limited (BNECL) has successfully replaced aging fuel pipelines, ensuring reliable bunkering services for vessels. The port has also commissioned a modern incinerator to comply with International Maritime Organisation (IMO) and MARPOL standards, alongside piloting a waste recycling project with a major cruise line. Further upgrades include electronic documentation for emissions and sewage records, a priority berthing policy to manage cargo and cruise conflicts, and the development of Berth Six to streamline cargo operations. Jean-Marie emphasized plans to expand port facilities and separate cruise and cargo operations, aiming to accommodate larger vessels and reduce operational bottlenecks. Training programs for taxi operators, customs, and immigration officers are also underway to enhance service quality and support the port’s growth.

  • Carnival Cruise Line will be offering longer trips to the Dominican Republic.

    Carnival Cruise Line will be offering longer trips to the Dominican Republic.

    Carnival Cruise Line has unveiled a strategic redeployment of its fleet for the 2027-28 season, responding to unprecedented consumer demand by introducing extended Caribbean itineraries and optimizing vessel assignments across key homeports. The comprehensive restructuring will position four ships from Galveston, Texas, beginning November 2027, offering voyages ranging from four to ten days throughout the Caribbean basin.

    The revised deployment strategy features distinct itinerary patterns based on duration. Shorter cruises will focus primarily on Mexican destinations including Cozumel and Progreso, while extended voyages will encompass an expansive array of ports across multiple nations. These longer journeys will include calls at Belize, Grand Turk, Amber Cove in the Dominican Republic, Limón in Costa Rica, Colón in Panama, Roatán, Grand Cayman, and Montego Bay, Jamaica, alongside Carnival’s private destinations of Celebration Key and Half Moon Cay.

    Notable itinerary innovations include Carnival Sunshine’s introduction of eight new cruises featuring a specialized 10-day circuit visiting Cozumel, Isla Tropicale, Montego Bay, and Grand Cayman. Simultaneously, Carnival Spirit will operate from Tampa, Florida, offering six to eight-day voyages to Belize, Grand Cayman, Ocho Rios in Jamaica, and Mexican ports. The Spirit will additionally deploy six eight-day Panama Canal itineraries visiting Limón, Grand Cayman, and Colón, culminating in an exceptional 13-day Carnival Journeys cruise on January 30, 2028, with extended port calls in Grand Cayman, Limón, Colón, Aruba, Curaçao, and Ocho Rios.

    A significant vessel reassignment will see Carnival Sunshine, with its 3,000-passenger capacity, repositioned to Galveston instead of Carnival Spirit, which will transition to Tampa operations. This capacity enhancement strategically addresses growing demand from the Texas market while enabling the introduction of novel longer-duration Caribbean voyages from Florida.

    Christine Duffy, President of Carnival Cruise Line, emphasized the consumer-driven nature of these changes: ‘This strategic redeployment allows us to serve increased guest demand in Galveston while simultaneously introducing new, extended Caribbean itineraries for travelers departing from Tampa.’ The comprehensive fleet optimization demonstrates Carnival’s commitment to matching vessel capacity with market demand while expanding destination options for Caribbean-bound travelers.

  • It all depends on the color… Subtracting from the positive signs of the Dominican Republic’s economy

    It all depends on the color… Subtracting from the positive signs of the Dominican Republic’s economy

    The Dominican Republic faces a complex economic landscape as the International Monetary Fund (IMF) emphasizes the urgent need for fiscal and structural reforms. While the country has demonstrated resilience in navigating a turbulent global environment, concerns persist over stagnant incomes, chronic budgetary deficits, and rising public debt. The IMF has called for immediate action to address these issues, particularly in the electricity sector, where subsidies are escalating while revenue from energy supply declines. Economist Rosa Cañete Alonso echoed these concerns, warning that the nation is trapped in a cycle of stagnant revenues and rigid spending, prioritizing debt repayment over future investments. Despite these challenges, the Central Bank of the Dominican Republic highlighted positive developments, noting sustained economic growth and a 3% increase in Foreign Direct Investment (FDI) in 2024, contrasting with an 11% global decline. The Central Bank emphasized the country’s ability to cover its current account deficit and strengthen its regional economic position. However, the opposition has criticized the government, accusing it of economic mismanagement and deteriorating public services. Columnist José Luis Taveras urged the opposition to move beyond unconstructive criticism and propose viable solutions. As the Dominican Republic balances optimism with pressing reforms, the path to sustained economic stability remains a critical focus.

  • ‘Big push’: tourism eyes European, emerging Eastern markets

    ‘Big push’: tourism eyes European, emerging Eastern markets

    Barbados is intensifying its efforts to expand its tourism sector by targeting key markets in Europe and Eastern regions, according to Tourism Minister Ian Gooding-Edghill. The strategy, unveiled during a recent Tourism Industry update at the Lloyd Erskine Sandiford Centre, emphasizes strengthening air connectivity from Manchester, England, and deepening engagement in Eastern Europe. Gooding-Edghill highlighted Eastern Europe as a priority, citing its wealth potential and the need to drive additional European business. He stressed the importance of securing airlift from Manchester, particularly for summer tourism, while acknowledging the challenge of maintaining competitive pricing. The minister also underscored the role of artificial intelligence (AI) in enhancing marketing strategies, stating, ‘We will have a heavy AI influence as part of our approach to marketing Barbados.’ Andrea Franklin, CEO of the Barbados Tourism Marketing Inc. (BTMI), emphasized the benefits of diversifying into Latin America, niche European markets, and regions like the UAE, Qatar, and East Asia. She called for improved visitor experiences, including multilingual menus, extended kitchen hours, and professional transport services. Franklin also urged a national commitment to service excellence, noting that BTMI is collaborating with the Barbados Chamber of Commerce to implement a National Service Excellence initiative. She stressed that the visitor experience is a collective responsibility, stating, ‘The visitor experience is built by all of us.’

  • High demand from Argentinians to Puerto Plata “surprises” Wyndham

    High demand from Argentinians to Puerto Plata “surprises” Wyndham

    Viva Resorts by Wyndham is experiencing unprecedented demand from Argentine travelers, driven by new air connectivity and a strategic shift in tourist preferences. Viviana Cuomo, Regional Sales Manager for South America, revealed these developments during the Tourism Marketing Meeting (ECTU) at the Marriott Hotel in Buenos Aires.

    Cuomo reported exceptional performance across the group’s Dominican properties, particularly highlighting the Viva Tangerine and Viva Heavens resorts in Puerto Plata. These northern region hotels have become standout choices for the upcoming season, benefiting significantly from Copa Airlines’ expanded flight routes from Córdoba, Rosario, and Mendoza.

    The executive identified three key factors driving Argentine interest: competitive pricing, sargassum-free beaches, and diverse cultural experiences beyond traditional resort offerings. Puerto Plata’s comprehensive package—including Tobacco and Rum Circuit tours, Cocoa excursions, key island visits, dolphin water parks, and rich historical attractions—resonates strongly with modern travelers seeking authentic experiences.

    Financially, Puerto Plata presents a compelling value proposition with packages starting at $1,700-1,800 during peak season, positioning it favorably against both Punta Cana and Brazilian alternatives. Meanwhile, Viva Miches has completed its first year of operation with remarkably positive market reception, further strengthening the brand’s regional footprint.

    This surge in Argentine visitors represents a significant market transformation, with travelers increasingly prioritizing new destinations, seaweed-free beaches, and differentiated experiences that combine recreational and cultural elements.