Carib Scope

分类： business

  • Rebublic Bank sows $2 million across regional projects with ‘Power to Make a Difference’

    Rebublic Bank sows $2 million across regional projects with ‘Power to Make a Difference’

    Republic Bank (EC) Limited has inaugurated its 2025-2026 Power to Make a Difference (PMAD) cohort, reinforcing its commitment to purpose-driven social investment across six Eastern Caribbean territories. The official launch occurred on December 10, 2025, at the Sandals Grande Ballroom in Saint Lucia, where fourteen new and returning partner organizations were formally introduced under the program’s revitalized theme: ‘Powered by Purpose, Transforming Communities.’

    Now in its fourth year, the PMAD program represents the bank’s strategic approach to corporate social responsibility, aligning with both the United Nations Principles for Responsible Banking and the Sustainable Development Goals. Over the past five years, Republic Bank has channeled over EC$6.3 million into community development initiatives, with nearly EC$2 million dedicated specifically to PMAD projects in the last three years alone.

    The 2025-2026 cohort showcases a diverse portfolio of projects targeting youth empowerment, environmental sustainability, healthcare accessibility, and economic development. Each territory will benefit from tailored interventions designed to address local needs while fostering regional progress.

    In Dominica, the Waitikubuli Artist Association will establish the nation’s first formal Visual Arts Diploma Program, significantly advancing cultural education. Simultaneously, the Rotary Club of Portsmouth will construct a new playground at Morne Jaune Primary School to promote childhood development through safe recreational spaces.

    Anguilla’s programming emphasizes maritime heritage and technological innovation. The Anguilla Sailing Association is revitalizing the sailing scene with new vessels and expanded training, while the newly partnered Anguilla Robotics Association will introduce hands-on education in robotics, coding, and artificial intelligence, with particular focus on engaging girls and underserved youth.

    St. Kitts & Nevis welcomes the St. Kitts & Nevis Robotics Association, which will provide over 150 students with engineering exploration opportunities through STEAM challenges. The Sandy Point Agricultural Co-operative Society continues its mission to enhance food security by expanding rainwater harvesting systems for climate-resilient farming.

    St. Vincent & the Grenadines sees the addition of Esther’s Promise, offering vulnerable young women safe housing, empowerment training, and essential life skills development to facilitate their transition toward independence and sustainable employment.

    St. Maarten’s initiatives address both social inclusion and environmental concerns. The Freegan Food Foundation combats food insecurity through nutritional aid and wellness programs, while new partner EPIC establishes a recycling workspace that unites youth, seniors, and persons with disabilities to combat plastic pollution. The National Institute of Arts continues leveraging orchestral music as a tool for social inclusion among underprivileged children.

    Saint Lucia demonstrates continued momentum in innovation and inclusion through four distinct partnerships. Orbtronics advances STEM education with industry-level robotics training, while the National Council of and for Persons with Disabilities expands its media-based aquaponics project to foster economic independence. The Daren Sammy Foundation supports promising student athletes from low-income backgrounds through comprehensive mentorship programs, and St. Mary’s College Secondary School bridges the digital divide with practical technology education.

    Tracy Bartholomew, Managing Director of Republic Bank (EC) Limited Group, articulated the program’s core philosophy: ‘True power lies in purpose. When purpose drives us, transformation is inevitable. Every action we take—every partnership we forge—has the potential to change lives. Together, we will continue to make a difference—one project, one community, one life at a time.’

    Partner representatives emphasized the transformative impact of Republic Bank’s approach, noting that the investment ‘has assisted partners in learning, growing and expanding past the bounds of initial imagination,’ characterizing the relationship as going ‘beyond the obligation of Corporate Social Responsibility’ toward ‘authentic relationships under the umbrella of a shared passion for positive, lasting change.’

  • Food, Housing, and Fuel Lead 2025 Inflation Rise

    Food, Housing, and Fuel Lead 2025 Inflation Rise

    The Statistical Institute of Belize has released its latest economic report, revealing a discernible uptick in the nation’s inflation rate for the first ten months of 2025. Data indicates a 1.2% overall increase in the Consumer Price Index compared to the corresponding period in 2024, signaling a heightened financial burden on households across the country.

    A granular analysis of the report pinpoints the primary drivers of this inflationary pressure. The most significant surges were recorded in two fundamental categories critical to daily living. Expenditures on food and non-alcoholic beverages escalated by 1.9%, while costs associated with housing, utilities, and fuels witnessed a more pronounced jump of 2.4%. This trend underscores the growing cost of securing basic necessities for the average Belizean family.

    Among the specific items, the price of butane gas emerged as a standout, experiencing a dramatic 8.4% year-over-year increase. In practical terms, this inflation translates to an additional expenditure of nearly ten Belize dollars for every 100-pound tank, placing further strain on household budgets.

    The inflationary experience was not uniform across all districts. Geographic disparities were evident, with San Pedro Town registering the highest cumulative price increases nationally. Conversely, Independence Village presented a unique case as the sole municipality to document a net decrease in consumer prices, offering a contrasting economic narrative within the nation.

  • Angostura boss on Caroni Bitters launch: Let’s get all the facts

    Angostura boss on Caroni Bitters launch: Let’s get all the facts

    Amid the quiet launch of Caroni Bitters by former executive Vidia Doodnath, Angostura Holdings chairman Gary Hunt has adopted a measured corporate stance, declining to disclose the renowned rum and bitters manufacturer’s specific response strategy. Hunt addressed journalists during a media briefing at the House of Angostura on Eastern Main Road, Port of Spain, where the company celebrated its inaugural shipment of the Ready to Drink product ‘420’.

    When questioned about the emerging competition, Hunt characterized the situation as ‘delicate’ and requiring thorough examination. ‘I will not make any judgements or pronouncements at this time,’ Hunt stated. ‘The matter is receiving our fullest attention, and we are responding appropriately. We must gather all facts before providing a comprehensive response.’

    Despite his reserved commentary, Hunt explicitly confirmed he was not surprised by Doodnath’s market entry. He also revealed that Angostura had not initiated contact with its former executive since learning of Caroni Bitters’ December 7 launch.

    The new competitor directly challenges Angostura’s global bitters dominance, which has maintained its secret recipe for nearly two centuries. Founded in 1824 by Dr. Johann Siegert as medicinal stomach remedy, Angostura Bitters evolved through his sons’ migration to Trinidad, where Don Carlos Siegert transformed it into a cocktail and culinary essential.

    The company’s market position appears robust despite new competition. Recent financial disclosures show an 8% revenue increase from $698 million in 2024 to $757 million in 2025, with post-tax profits rising 10% to $104 million for the nine-month period ending September 30.

    Angostura’s industry accolades reinforce its market strength. The company’s Orange Bitters variation was recognized as both the top-selling and top-trending bitters globally in 2018 by Drinks International, additionally receiving the platinum medal at the Spirits International Prestige Awards that same year.

    Attempts by Newsday to reach Doodnath through her husband on December 12 were unsuccessful, with sources indicating she was indisposed and would return contact. No response was received by press time.

  • Keston Howell named new BATT executive director

    Keston Howell named new BATT executive director

    The Bankers’ Association of Trinidad and Tobago (BATT) has unveiled Keston Howell as its newly appointed executive director, marking a significant leadership transition for the nation’s premier banking organization. Howell assumes the role following Kelly Bute-Seaton’s decade-long tenure, bringing with him an impressive three-decade career within the financial services industry.

    According to an official association release, Howell’s extensive background includes senior executive positions across major financial institutions. His professional portfolio demonstrates particular strength in industry development, evidenced by his active participation in key sector bodies such as the Securities Dealers Association of TT (SDATT) and the Association of TT Insurance Companies (ATTIC).

    BATT’s statement emphasized that Howell’s cross-sectoral experience has cultivated a comprehensive understanding of the financial services ecosystem, establishing him as a recognized proponent of transparent, consumer-focused banking practices. His advocacy for responsible financial services has positioned him as a respected voice within Trinidad and Tobago’s banking community.

    The association outlined Howell’s mandate to spearhead strategic initiatives aimed at enhancing public engagement and advancing financial literacy nationwide. His leadership will focus on driving economic revitalization efforts, championing business-friendly solutions, and accelerating the digital transformation of Trinidad and Tobago’s financial infrastructure.

    BATT further noted that Howell remains dedicated to ensuring the banking sector’s continued contribution to national development, with emphasis on sustainable economic growth, technological innovation, and long-term financial stability for all citizens. His appointment signals the association’s commitment to modernizing financial services while maintaining consumer protection as a central priority.

  • Angostura launches 420 rum drink in Suriname

    Angostura launches 420 rum drink in Suriname

    Trinidad-based spirits manufacturer Angostura Holdings Ltd has achieved a significant milestone in its regional expansion strategy with the inaugural shipment of its premium ready-to-drink rum beverage, 420, to Suriname. The December 12 shipment marks the latest market entry for the product that has been rapidly gaining traction across the Caribbean basin.

    During a media conference at the House of Angostura warehouse in Laventille, Group Chairman Gary Hunt characterized the Suriname launch as a strategic evolution in the company’s product portfolio. “While our iconic bitters and award-winning rums remain the foundation of our global reputation, 420 signals Angostura’s deliberate entry into the ready-to-drink segment,” Hunt stated, emphasizing the company’s adaptation to consumer preferences for convenience, quality, and flavor integration.

    The 420 beverage has demonstrated remarkable market performance since its April launch, exceeding commercial expectations and expanding to multiple territories including Antigua, Barbados, British Virgin Islands, Dominica, St. Lucia, Grenada, St. Kitts, and St. Vincent. Hunt attributed this success to the product’s resonance with contemporary Caribbean consumers, particularly millennials and Generation Z demographics who increasingly favor ready-to-drink formats.

    Angostura is leveraging its centuries-old blending expertise to capitalize on emerging market trends. “We are utilizing our master blenders’ capabilities, knowledge, and know-how to develop superior products that deliver better vibes and better taste,” Hunt explained, highlighting the company’s commitment to innovation-driven commercial strategy.

    Feature speaker Sean Sobers, Minister of Foreign and Caricom Affairs, endorsed Angostura’s approach as exemplary for regional manufacturers seeking to maintain industry relevance. “By leveraging new demands and markets, Angostura continues to place local goods on foreign shelves while exploring investment attraction and global business connection strengthening,” Minister Sobers remarked.

    The government official further emphasized the importance of commercial diplomacy, noting ongoing efforts to recalibrate overseas missions to complement strategic ministerial plans. This recalibration occurs in collaboration with the local business sector to address Trinidad and Tobago’s specific trade and investment requirements through enhanced public-private partnerships.

    The company’s expansion initiative has already demonstrated tangible financial impacts, with Angostura’s nine-month consolidated financial report for the period ending September 30 attributing three percent domestic growth to the successful introduction of its ready-to-drink product line.

  • Jamaican digital services firms get a boost from UK-funded London trade mission

    Jamaican digital services firms get a boost from UK-funded London trade mission

    KINGSTON, Jamaica — Jamaican technology enterprises are witnessing unprecedented commercial breakthroughs shortly after concluding a strategically orchestrated trade delegation to London. This initiative, financed by the United Kingdom and executed through the United Kingdom Trade Partnerships Programme (UKTP), marks a significant advancement in fortifying export capabilities within Jamaica’s burgeoning technology and business process outsourcing (BPO) industries.

    The International Trade Centre (ITC), with collaborative support from JAMPRO and the Jamaica Technology & Digital Alliance, provided comprehensive preparatory training, export readiness enhancement, and direct corporate matchmaking sessions with prospective UK clients. This multifaceted approach yielded extraordinary results, defying the typical protracted timeline associated with international trade missions.

    British High Commissioner to Jamaica Alicia Herbert OBE commended the delegation upon their return, highlighting the nation’s evolving global reputation. “Jamaica’s legendary excellence in athletic, cultural, and musical domains is now manifesting powerfully within the technological arena. Collaborative ventures between UK and Jamaican entities in this sector present immensely fertile ground,” Herbert stated.

    The mission’s immediate commercial impact proved remarkable, with 142 structured business meetings generating substantial outcomes:

    – Identification of 36 high-value commercial prospects
    – Execution of four Non-Disclosure Agreements initiating formal contract negotiations
    – Nine UK corporations expressing definitive partnership or procurement intent
    – Two new contractual agreements scheduled for January activation involving AI legal solutions and BPO sales support
    – Establishment of one strategic European technology partnership
    – Significant investor engagement prompting advanced follow-up discussions

    This achievement builds upon previous mission success, notably Jamaican firm Shift Left securing multi-million pound UK contracts following last year’s delegation.

    The programme enables Jamaican businesses to effectively utilize provisions within the UK-CARIFORUM Economic Partnership Agreement (EPA), creating streamlined market access pathways into the United Kingdom. Delegation participants engaged in high-profile networking events, visited leading British technology hubs, and showcased Jamaica’s digital innovation capabilities to potential partners.

    A significant strategic development emerged through advanced discussions regarding forming a consolidated consortium of Jamaican technology and BPO enterprises. This collective approach aims to better address UK market demands while achieving operational economies of scale.

    JAMPRO President Shullette Cox emphasized the transformative nature of Jamaica’s services economy: “While technology may not represent Jamaica’s conventional association, our services-driven economy has fostered sustained technological sector growth. JAMPRO takes pride in collaborating with initiatives like UKTP to position Jamaican enterprises within UK markets, and we are particularly encouraged by the receptive attitude of British businesses toward our technological solutions.”

    Participating organization Advantum, a Kingston-based software development company, described the mission as fundamentally transformative. Tshai Morgan of Advantum remarked, “The UK trade mission constituted an extraordinary professional experience. Having driven port digitalization throughout the Caribbean for four decades, we now possess concrete opportunities for UK market expansion. The combination of specialized training and substantive business prospects has proven exceptional.”

    This digital services focus aligns with broader UK commitments to facilitate Jamaican economic diversification and enhance climate resilience. Unlike traditional sectors such as tourism and agriculture, the digital economy generates income streams capable of rapid recovery, remote operation, and sustained revenue generation despite physical infrastructure disruptions, as demonstrated during events like Hurricane Melissa.

  • Jamaica welcomes just under 300,000 visitors since Melissa

    Jamaica welcomes just under 300,000 visitors since Melissa

    Jamaica’s tourism industry is demonstrating extraordinary recovery capabilities as approximately 300,000 international travelers have visited the island nation in the five weeks following the devastating impact of Hurricane Melissa. Tourism Minister Edmund Bartlett announced these impressive figures during a staff appreciation event at Sangster International Airport, highlighting the sector’s rapid rebound despite widespread damage across the country’s primary tourism regions.

    The statistical breakdown reveals 180,000 stopover visitors alongside 114,000 cruise passengers, signaling strong consumer confidence in Jamaica’s recovery efforts. Minister Bartlett emphasized the complete operational readiness of all three international airports, ensuring seamless entry for incoming travelers. This infrastructure resilience forms the cornerstone of Jamaica’s recovery narrative, with Montego Bay’s MBJ facility serving as a flagship example of the nation’s preparedness.

    Minister Bartlett contextualized the achievement by noting Jamaica’s extraordinary challenge: surviving what meteorologists are calling potentially the most intense weather event in Northern Hemisphere history. The hurricane brought sustained winds of 185 mph with gusts reaching 252 mph—forces so powerful that climatologists continue debating whether to classify Melissa as Category 5 or create a new Category X classification.

    The minister’s remarks underscored the paradox of a nation geographically comparable to Texas’s King’s Ranch overcoming such catastrophic conditions while maintaining tourism operations. This performance demonstrates not only operational recovery but also the effectiveness of Jamaica’s disaster response protocols and the enduring appeal of its tourism product despite natural challenges.

  • Ministry of Agriculture provides free white potato seeds to farmers for upcoming season

    Ministry of Agriculture provides free white potato seeds to farmers for upcoming season

    The Dominican Ministry of Agriculture, Fisheries, Blue and Green Economy has officially initiated the 2025/26 white potato cultivation period ahead of schedule, marking a significant advancement in the nation’s agricultural calendar. This strategic move follows the recent arrival of a specialized seed shipment containing 1,160 bags of premium potato varieties—Desiree and Spunta—recognized for their proven success in local growing conditions.

    Prior to distribution to agricultural stakeholders, the imported seeds will undergo rigorous quality assessment and disease screening by the Plant Quarantine Unit of the Division of Agriculture. These protective measures ensure that only certified disease-free planting materials reach Dominican farmers. The ministry anticipates releasing these validated seeds for commercial acquisition by mid-November 2025.

    Comprehensive pricing structures and support packages—encompassing seed provisions, agro-chemicals, essential inputs, tilling services, and transportation logistics—will be formally announced in the coming days. The established planting window spans December 2025 through January 2026, with harvest operations projected to commence approximately 90-110 days post-planting, targeting March-April 2026.

    Agricultural authorities emphasize the economic viability of white potato cultivation, highlighting its rapid growth cycle and sustained market demand. Director of Agriculture Keian Stephenson has publicly encouraged farming communities and cooperative members to pre-register with Extension Officers or local Farmer Service Centers to secure access to essential resources and technical support throughout the production cycle.

    The ministry’s initiative aims to capitalize on optimal growing conditions while stimulating domestic production capacity. Officials urge interested agricultural producers to leverage this strategic opportunity to enhance both crop yields and farm revenue through participation in the accelerated planting program.

  • Multi-Million Dollar CMC Redevelopment to Create Hundreds of Jobs, Minister Says

    Multi-Million Dollar CMC Redevelopment to Create Hundreds of Jobs, Minister Says

    The government has announced a major strategic investment to transform the recently acquired former Kent’s Club property into a national agricultural headquarters. Minister Smith revealed to Parliament that over $9 million has been allocated to secure the five-acre site, which will be developed into a comprehensive agricultural hub serving farmers, processors, and consumers nationwide.

    The redevelopment plan includes construction of state-of-the-art cold-storage and dry-storage facilities, enabling the Central Marketing Corporation (CMC) to purchase bulk produce directly from local farmers and distribute to the public from the new location. Existing structures on the compound will undergo significant upgrades while additional facilities will be constructed to support expanded operations.

    A cornerstone of the new complex will be a purpose-built agro-processing facility designed to support local producers in developing and marketing value-added goods. The minister highlighted artisanal products including wines, jams, specialty breads, and processed foods typically created by small businesses as primary beneficiaries of this initiative. The broader agro-industrial support center will be situated within Kasada Gardens.

    Minister Smith emphasized that the revitalized CMC aims to strengthen domestic food systems rather than compete with private retailers. Addressing opposition criticism, he cited a Cabinet-commissioned customs study revealing CMC’s import volumes are ‘minuscule’ compared to major supermarkets, representing merely ‘a drop in the bucket’ of total imports.

    The corporation’s dual mandate focuses on supporting local agricultural producers through guaranteed purchases while simultaneously working to reduce living costs for vulnerable households. Smith underscored CMC’s critical role in ensuring low-income families maintain access to quality proteins and fresh produce, characterizing the organization as an essential social tool for improving nutritional outcomes and affordability.

    This redevelopment initiative follows a remarkable financial turnaround for CMC. When the current administration took office in 2014, the corporation was reportedly insolvent, burdened by debt, and struggling to meet payroll obligations. Today, CMC maintains millions in reserves—a transformation attributed to strategic Cabinet decisions and effective leadership from management and the board.

  • Hotel Projects to Create 500 Full-Time Jobs as New Resorts Rise Across Antigua, Minister Says

    Hotel Projects to Create 500 Full-Time Jobs as New Resorts Rise Across Antigua, Minister Says

    Antigua and Barbuda’s tourism sector is experiencing a significant expansion with multiple luxury hotel projects underway, poised to create substantial employment opportunities and enhance the nation’s hospitality infrastructure. According to Tourism Minister Charles ‘Max’ Fernandez, these developments reflect robust investor confidence in the dual-island nation’s tourism appeal.

    Minister Fernandez, addressing parliament during the Budget Debate, revealed that the ongoing construction of several high-end resorts will generate over 500 permanent positions in the hospitality sector alongside approximately 300 temporary construction jobs. This employment surge comes as the country responds to increasing visitor numbers that necessitate expanded accommodation options.

    Three major projects are leading this development wave. The Nikki Beach resort is currently under construction, adding to the island’s premium luxury offerings. Simultaneously, the Moon Gate property is scheduled to open in 2026, introducing new capacity in the boutique luxury market segment. Perhaps most significantly, the Marriott Hotel project at Yepton’s has already commenced construction, with Minister Fernandez extending an invitation to opposition parliamentarians to witness the progress firsthand.

    ‘The Marriott Hotel development will substantially increase our room inventory to match growing visitor demand,’ Fernandez stated, emphasizing how these projects collectively represent critical infrastructure investments.

    The minister further noted that these developments coincide with increased air connectivity from key markets including the United States, United Kingdom, Germany, and Italy. This synergistic growth in both accommodation capacity and transportation access positions Antigua and Barbuda to sustainably expand its stayover visitor numbers.

    Fernandez characterized these investments as strengthening both the tourism product and the broader economy, describing the hotel pipeline as a fundamental pillar for the sector’s long-term development strategy. The combination of private sector confidence and strategic infrastructure development signals a transformative period for the nation’s tourism industry.