Carib Scope

分类： business

  • Middle East war spurs call for local production boost

    Middle East war spurs call for local production boost

    NEGRIL, Westmoreland — In a strategic move to insulate Jamaica’s vital tourism sector from global supply chain vulnerabilities, Tourism Enhancement Fund (TEF) Executive Director Dr. Carey Wallace has issued a compelling call for accelerated local production of goods. Addressing industry stakeholders, Wallace emphasized the critical timing of this initiative, highlighting the Caribbean’s status as a peaceful haven amidst ongoing conflicts in the Middle East that threaten international shipping routes.

    The urgency was underscored during last Thursday’s TEF Speed Networking event at James Hunter Event Centre Board Walk Village, where Wallace delivered his keynote. He articulated a clear vision for supply chain resilience, stating, ‘Strategic domestic sourcing ensures our tourism experience remains uninterrupted. Should disruptions emerge from critical chokepoints like the Strait of Hormuz, Jamaica will maintain its strength, powered by locally produced products and services for our visitors.’

    The event itself served as a practical implementation of this strategy, facilitating targeted connections between 72 local suppliers and 25 major buyers from the hospitality industry. Through a structured platform, pre-arranged 15-minute meetings linked top executives from supplier firms with decision-makers from hotels, restaurants, and attractions.

    Looking beyond current geopolitical tensions, Wallace outlined a future of expanded opportunity. He projected that a post-conflict global landscape would unlock new potential for ‘experiential tourism’ dispersed across Jamaica’s diverse geography—from mountains and riversides to valleys—ensuring widespread local economic benefit.

    Reaffirming a ‘local-first’ doctrine, Wallace confirmed that this approach is a cornerstone of the Ministry of Tourism’s policy, aimed at creating a more inclusive and expansive tourism model where Jamaican communities reap significantly greater rewards from the industry.

  • Halkitis defends VAT changes, says grocers had ‘ample time’

    Halkitis defends VAT changes, says grocers had ‘ample time’

    The Bahamian government has firmly responded to mounting criticism from food retailers regarding its upcoming Value-Added Tax (VAT) reforms, asserting that businesses have received adequate preparation time for the impending changes. Economic Affairs Minister Michael Halkitis addressed the Senate on Wednesday, providing detailed justification for the administration’s decision to eliminate VAT on unprepared food items effective April 1, 2024.

    Halkitis clarified the fundamental distinction between ‘zero-rated’ and ‘exempt’ VAT classifications, explaining that the government deliberately chose the exemption model to prevent substantial revenue losses. Under the exemption framework, importers avoid paying VAT and consequently cannot claim input tax credits—a mechanism that prevents large-scale refund obligations from burdening government coffers. Conversely, zero-rating would enable retailers to reclaim VAT inputs, creating significant fiscal liabilities for the state.

    The Minister revealed that government officials had initiated dialogue with retail stakeholders as early as last year, providing advance notice of the policy direction before the formal January announcement. Halkitis emphasized that the three-month implementation window represents sufficient adjustment time given contemporary technological capabilities, including artificial intelligence systems that streamline accounting processes.

    Addressing allegations that the tax relief measure constitutes pre-election maneuvering, Halkitis categorically denied any political motivation. He characterized the VAT reduction as part of a broader series of economic relief initiatives implemented since the Davis administration assumed office, designed specifically to alleviate cost-of-living pressures for Bahamian households.

    While acknowledging variations in consumer savings depending on individual spending patterns, the Minister maintained that the policy will deliver tangible financial benefits. Households with higher grocery expenditures will realize more substantial savings compared to those who frequently dine out, but all consumers will experience some degree of economic relief through reduced food prices.

  • Western Air chief warns of air fare increase as 40% fuel spike expected

    Western Air chief warns of air fare increase as 40% fuel spike expected

    A perfect storm of geopolitical conflict and regional policy challenges is converging on The Bahamas’ tourism economy, with airline executives and resort owners warning of significant economic repercussions. Western Air, a major Bahamian carrier, has received formal notification of an immediate 40 percent surge in jet fuel costs directly linked to Middle East tensions, with further increases anticipated. Sherrexcia ‘Rexy’ Rolle, the airline’s president and CEO, confirmed that this development will inevitably force ticket price increases across the industry, potentially affecting travel accessibility to the island nation at a critical moment for tourism recovery.

    The fuel crisis emerges alongside existing challenges in the Family Islands’ hospitality sector. Emanuel Alexiou, president of the Bahama Out Island Promotion Board, reported dramatic occupancy declines of nearly 50 percent in January and 27 percent in February at his Abaco Beach Resort property, with similar trends affecting other members. This downturn stems from two primary factors: the collapse of Silver Airways in June 2025, which drastically reduced air connectivity to Abaco, Exuma and other destinations, and controversial new boating fees that have deterred short-stay visitors.

    While March has shown promising recovery signs with occupancy levels matching previous years, industry leaders express deep concern about the compounding effect of fuel prices on an already fragile market. Alexiou acknowledged that a protracted Middle East conflict would have ‘a big impact’ on both the Bahamian and global economies, particularly if fuel costs remain elevated through the critical summer season.

    The boating industry faces particular vulnerability. Peter Maury, president of the Association of Bahamas Marinas, projected that marine fuel costs could increase 30-40 percent, creating what he termed ‘one more expense that a lot of boaters are probably not going to want to pay.’ This comes amid ongoing uncertainty about the government’s promised new cruising permit categories, which were announced in the mid-year Budget presentation but remain undetailed just weeks before the crucial Palm Beach Boat Show.

    Political responses are emerging as the crisis develops. Senator Darren Henfield, Opposition leader in the Senate, has urged the government to implement emergency measures including a VAT cap on gasoline and an increased VAT-free threshold for electricity bills to mitigate the impact of rising oil prices on Bahamian families. These proposals mirror approaches successfully implemented in Barbados during previous oil price spikes.

    The convergence of these factors—aviation fuel costs, reduced air connectivity, controversial marine fees, and now geopolitical instability affecting energy markets—creates unprecedented challenges for The Bahamas’ tourism-dependent economy just as it seeks to recover from a difficult start to 2026.

  • GK pushes reformulation as better option than sugar tax

    GK pushes reformulation as better option than sugar tax

    Amidst Jamaica’s implementation of a Special Consumption Tax (SCT) on sugary beverages, corporate giant GraceKennedy Limited is championing an alternative strategy for promoting public health. The food and financial conglomerate asserts that incentivizing product reformulation would yield more substantial long-term health benefits than relying predominantly on taxation mechanisms.

    Frank James, Group Chief Executive Officer of GraceKennedy, articulated this position during a recent investor briefing. While clarifying that the company does not oppose the government’s new fiscal measure, James emphasized that policies encouraging manufacturers to systematically reduce sugar content could drive more meaningful behavioral change. “We are mindful of the Government’s drive around health,” James stated, “but we have been doing that already.”

    James proposed restructuring the SCT to incorporate a differential taxation model based on sugar concentration, arguing that the current flat-rate levy fails to adequately incentivize manufacturers to alter product compositions. “What we would certainly encourage is that the SCT is structured in a way that promotes reformulation — pushing manufacturers to lower the sugar content in their products,” he explained. “I think that is something that would drive the behaviour we want.”

    The concept of reformulation represents a strategic process wherein manufacturers modify product recipes, compositions, or production methodologies. Particularly prevalent in food, beverage, and pharmaceutical sectors, this approach enables companies to enhance nutritional profiles by reducing salt, sugar, or fat content while preserving flavor and quality. GraceKennedy, as a manufacturer of sweetened beverages, has reportedly been engaged in such initiatives long before the SCT announcement, exploring methods to reduce sugar across multiple product categories while maintaining consumer appeal.

    The government’s taxation measure, introduced as part of broader budgetary financing efforts, has generated polarized responses. Health advocates have largely welcomed the intervention, while manufacturers have questioned its effectiveness and equity. Critics argue the levy disproportionately targets the beverage sector and may adversely affect lower-income consumers.

    This perspective found reinforcement from Opposition Finance Spokesman Julian Robinson during parliamentary budget debates. Robinson contended that mandated reformulation requirements with implementation timelines would more directly reduce sugar consumption than taxation alone. “If the Government’s concern is about reducing sugar consumption and improving health outcomes, it has a more effective instrument available to it,” Robinson asserted.

    Scheduled to take effect in May 2026, the flat-rate levy of $0.02 per milliliter applies to beverages containing added sugars or sweeteners, encompassing sodas, fruit-flavored drinks, and other non-alcoholic beverages—whether carbonated or non-carbonated, locally produced or imported. Projected to generate approximately $10.1 billion in revenue, the policy fundamentally operates as a public health measure targeting products associated with noncommunicable diseases including obesity, diabetes, and cardiovascular conditions.

  • New initiative AgriConnect Brasil launched at IICA headquarters to strengthen connectivity and digital inclusion for rural family farms

    New initiative AgriConnect Brasil launched at IICA headquarters to strengthen connectivity and digital inclusion for rural family farms

    BRASÍLIA – A major agricultural digitalization initiative, AgriConnect Brasil, has been formally launched at the headquarters of the Inter-American Institute for Cooperation on Agriculture (IICA). With substantial financial and strategic backing from the World Bank Group (WBG), the program targets profound enhancements in rural connectivity and digital inclusion for Brazil’s vast network of family farmers.

    The ambitious program sets its sights on directly supporting over one million family farming operations across Brazil by the year 2030. This support will be channeled through improved access to cutting-edge agricultural technologies, expanded financial services, specialized knowledge platforms, and a suite of digital tools. The primary objectives are a significant increase in farmer incomes, the generation of new employment opportunities throughout the agrifood value chain, and a marked improvement in national food security, all contributing to more sustainable and inclusive rural economic development.

    AgriConnect Brasil is a critical national component of the World Bank Group’s broader global strategy to revolutionize the agri-food sector. This worldwide initiative has an ambitious target: to assist up to 300 million smallholder farmers in transitioning from subsistence-based operations to productive, market-integrated agricultural enterprises within the same timeframe.

    The global effort is underpinned by an estimated annual investment of $9 billion, with the potential to mobilize an additional $5 billion in co-financing. This substantial funding is earmarked to drive innovation, develop tailored financial products, and build robust service ecosystems specifically designed for the agricultural sector.

    In the Latin American context, the program’s implementation is a collaborative endeavor. Key partners include IICA, the Inter-American Development Bank (IDB), the International Fund for Agricultural Development (IFAD), the UN’s Food and Agriculture Organization (FAO), and the Latin American Association for the Development of Agricultural Insurance (ALASA). The coalition also actively incorporates financial institutions, private sector companies, philanthropic foundations, and academic partners.

    The program’s focus on Brazil is strategically crucial. The country is home to approximately 3.9 million family farms, which represent about 75% of all rural properties. These operations employ nearly 10 million people and form the backbone of the nation’s domestic food supply.

    Globally, the agri-food sector is recognized as a cornerstone of economic and social stability. Beyond its fundamental role in ensuring food security, it is a major source of employment, a catalyst for local economic growth, and the primary livelihood for hundreds of millions in rural communities worldwide. In this framework, digitalization and enhanced rural connectivity are now widely viewed as indispensable levers for unlocking economic potential, elevating productivity, and fortifying agricultural systems against the dual threats of climate change and market volatility.

    To achieve its multifaceted goals, AgriConnect will concentrate its efforts on three strategic pillars:
    1. Mitigating agricultural risks through the strengthening of climate adaptation and market risk management frameworks.
    2. Enhancing value chains and logistics infrastructure to seamlessly connect producers with domestic and international commercial opportunities.
    3. Accelerating digital transformation via the widespread deployment of digital tools, knowledge-sharing platforms, and technological solutions for efficient production management.

    IICA emphasized that the program’s vision extends beyond mere technology adoption. A core mission is to create compelling economic opportunities for rural populations, particularly the youth, incentivizing them to remain in rural areas by engaging in innovative, productive activities that are linked to high-value global markets.

    Initiatives of this scale and design are projected to be a powerful accelerant for the digital transformation of agriculture in the Americas. They are expected to drive productive inclusion, enhance the sector’s overall competitiveness, and pave the way for a new era of sustainable rural development.

  • Grenadian businesses at Commonwealth Investment Network Summit

    Grenadian businesses at Commonwealth Investment Network Summit

    Three pioneering enterprises from Grenada have emerged as standout participants in the inaugural Commonwealth Investment Network (CIN) Accelerator Programme, marking a significant milestone for Caribbean innovation on the global stage. Green Feeds, SarGas, and Belmont Estate represented the island nation during the intensive London summit from March 9-13, where they joined just four other selected businesses from Pacific Small Island Developing States (SIDS) in presenting sustainable solutions to international investors.

    The competitive selection process saw 135 applications from across Commonwealth SIDS, with only seven companies chosen for the groundbreaking initiative. The Grenadian contingent demonstrated exceptional innovation in circular economy practices: Green Feeds transforms waste streams into energy and agricultural products; SarGas converts sargassum seaweed into renewable energy; while Belmont Estate operates as both an organic cocoa producer and agritourism destination preserving Grenada’s farming heritage.

    Implemented through a collaboration between the Commonwealth Secretariat, UK Government, and Cambridge Centre for Alternative Finance, the CIN programme provided three months of rigorous preparation including workshops, advisory sessions, and business model refinement. The London showcase culminated in presentations to international investors, policymakers, and development partners, with participants notably engaging with His Majesty King Charles III during Sustainable Markets Initiative discussions.

    Grenada’s participation was facilitated through the Grenada Investment Development Corporation (GIDC) and Commonwealth Resident Representative Victor Clarke, who helped connect local entrepreneurs with global opportunities. Earlier reconnaissance visits by CIN representatives to Grenada ensured the programme was tailored to the specific needs of island-based businesses facing unique environmental and economic challenges.

    Company representatives emphasized the programme’s transformative impact. Frank Cawkwell of Green Feeds noted how it ‘places small island solutions on an international platform,’ while Benjamin Nestorovic of SarGas highlighted the value of cross-island collaboration. Shadel Nyack Compton of Belmont Estate observed that the experience demonstrated how ‘sustainable agriculture and rural enterprises can be both impactful and commercially viable.’

    The cohort has committed to maintaining connections beyond the programme, recognizing that collective progress will enhance individual success. Ongoing support through the CIN network will continue to advance these sustainable ventures, showcasing Grenada’s growing leadership in climate-focused business innovation within the Commonwealth community.

  • Centrale banken heroverwegen renteverlagingen vrees voor nieuwe inflatie

    Centrale banken heroverwegen renteverlagingen vrees voor nieuwe inflatie

    Central banks worldwide are reassessing their monetary easing strategies as mounting geopolitical tensions and surging energy prices threaten to reignite inflationary pressures. The recent spike in oil costs, driven primarily by Middle Eastern instability, has created new challenges for policymakers who had anticipated gradual interest rate reductions this year.

    Energy price increases typically trigger immediate effects on transportation expenses, manufacturing outputs, and ultimately consumer pricing structures. This development potentially undermines the recent moderate disinflation progress achieved across numerous economies. Financial analysts indicate that monetary authorities are now compelled to reevaluate their approach, potentially maintaining elevated interest rates for extended periods to contain price growth.

    Investors are closely monitoring upcoming policy meetings at major central banks, including the Federal Reserve and European Central Bank, whose decisions may significantly influence global economic trajectories in coming months. Extended higher borrowing costs could dampen corporate investments and consumer spending while authorities attempt to prevent inflation from becoming entrenched within economic systems.

    Economists emphasize the situation remains highly contingent on geopolitical developments and energy market dynamics. Persistent turbulence in energy markets could amplify worldwide inflationary pressures, prompting more cautious monetary approaches. Current indications suggest central banks may delay rapid rate cuts until greater certainty emerges regarding inflation patterns, prioritizing price stability over economic stimulation.

  • LVV traint beginners in pluimveehouderij om productie in Suriname te verhogen

    LVV traint beginners in pluimveehouderij om productie in Suriname te verhogen

    The Ministry of Agriculture, Livestock, and Fisheries (LVV) in Suriname has successfully concluded its inaugural training program for novice poultry farmers, marking a significant step toward enhancing domestic poultry production and decreasing the nation’s dependence on imported goods. This comprehensive initiative received overwhelmingly positive feedback from participants who gained both theoretical knowledge and practical experience in various aspects of poultry farming.

    The training curriculum covered essential components including housing construction, nutritional requirements, animal care practices, poultry anatomy, common disease management, and fundamental administrative skills. Beyond classroom instruction, the program incorporated hands-on activities and field visits, enabling participants to immediately apply their newly acquired knowledge in real-world settings.

    Acting Director of Livestock Gerald Tjon A San emphasized the critical role of knowledge transfer in sectoral development, stating that the primary objective is to expand Suriname’s poultry industry to reduce reliance on imported products. Participants confirmed the practical value of the training, with attendee Orlando Cairo specifically noting enhanced understanding of coop construction and disease prevention through proper hygiene practices. Cairo expressed intentions to pursue poultry farming collaboratively with fellow graduates.

    Another participant, Ingrid Jandini, highlighted how the program established a solid foundation for aspiring sector entrants, noting that LVV provided valuable tools for entrepreneurial development and contribution to local food production. The ministry plans to expand these training initiatives across all districts and regions, with Minister Mike Noersalim particularly encouraging youth and interested individuals to leverage these educational opportunities.

    Minister Noersalim emphasized the significant opportunities poultry farming presents for agricultural entrepreneurs, stating that increased participation in production will contribute to a strengthened agricultural sector and more sustainable food security for Suriname.

  • Sky High Dominicana launches direct flights to Suriname

    Sky High Dominicana launches direct flights to Suriname

    SANTO DOMINGO – In a significant expansion of Caribbean aviation networks, Sky High Dominicana has unveiled plans to establish a new direct air corridor connecting Santo Domingo with Paramaribo, Suriname. Scheduled to commence operations on April 16, 2026, this pioneering route will link Las Américas International Airport (SDQ) with Johan Adolf Pengel International Airport (PBM), marking the first direct connection between these two nations.

    The strategic initiative represents a calculated expansion of the airline’s regional footprint, designed to enhance mobility throughout the Caribbean and South American regions. Suriname, renowned for its pristine rainforests and multicultural heritage, stands to gain substantial economic benefits through accelerated tourism inflows and strengthened commercial partnerships with the Dominican Republic.

    Beyond this commercial aviation development, Sky High Dominicana continues to diversify its aviation portfolio. The carrier reported robust growth across multiple business segments, including a 33% year-over-year increase in cargo operations through its subsidiary Sky High Aviation Services Corp., which transported over 8,000 tons of freight in 2025. Simultaneously, the airline is expanding its premium private charter services utilizing the long-range Gulfstream GV aircraft, capable of accommodating up to 17 passengers on intercontinental executive flights.

    With fifteen years of operational experience and certifications from both the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA), the airline maintains an extensive network throughout the Americas. Company executives emphasized that the Suriname route alignment supports broader objectives of fostering economic development, tourism expansion, and enhanced regional integration for the Dominican Republic.

  • ABHTA Hosts Kitchen Management Essentials Training to Strengthen Operational Excellence in Professional Kitchens

    ABHTA Hosts Kitchen Management Essentials Training to Strengthen Operational Excellence in Professional Kitchens

    The Antigua & Barbuda Hotels and Tourism Association (ABHTA) has successfully concluded an intensive professional development program focused on elevating kitchen management standards within the nation’s hospitality sector. The two-day workshop, ‘Kitchen Management Essentials: People, Systems & Service,’ took place March 11-12, 2026, at the Muriel O’Mard Campus, bringing together culinary professionals from across the industry.

    Under the expert guidance of Chef Olvanah Richardson, Executive Sous Chef at Blue Waters Resort and Spa with over 25 years of industry expertise, participants engaged in comprehensive training designed to bridge culinary artistry with operational leadership. The curriculum addressed critical components of kitchen management including workflow optimization, structured employee onboarding protocols, inventory control systems, and effective team leadership strategies.

    The program incorporated established operational frameworks such as the 5S methodology for kitchen organization and Hazard Analysis Critical Control Point (HACCP) management systems. These approaches provide structured methods for reducing waste, enhancing safety protocols, and improving overall service efficiency in professional kitchen environments.

    Interactive sessions featured collaborative problem-solving exercises and discussions emphasizing the crucial role of communication, standardized procedures, and teamwork in achieving operational excellence. Chef Richardson highlighted the importance of aligning departmental objectives while maintaining clear operational guidelines to address challenges effectively.

    ‘Congratulations to all our industry professionals. I am truly encouraged by each participant’s dedication,’ stated Chef Richardson, who further emphasized the value of ongoing training initiatives and mentorship programs within Antigua and Barbuda’s hospitality landscape.

    Shantel Francis, Chef de Partie at Barbuda Ocean Club, shared her transformative learning experience: ‘The sessions provided invaluable insights into kitchen organization and staff development. My key takeaway was the significance of cultivating continuous improvement cultures through targeted training and constructive feedback mechanisms.’

    The program concluded with certificate presentations to participants who successfully completed the training, recognizing their commitment to professional advancement and operational excellence. ABHTA reaffirmed its dedication to workforce development through ongoing workshops, certification programs, and educational resources that support best practices across the tourism industry.

    As the collective voice of Antigua and Barbuda’s hospitality sector, ABHTA continues to advocate for industry growth through education, promotion, and strategic development initiatives that enhance both visitor experiences and economic benefits for the nation.