In a strategic move to ensure smooth port operations, the Customs and Excise Division, alongside the Port Authority of Trinidad and Tobago (TT), the Port of Port of Spain (PPOS), and the Point Lisas Industrial Port Development Corporation Ltd (PLIPDECO), has introduced coordinated measures to manage vessel traffic at the Port of Port of Spain from October 22 to 30. This initiative was necessitated by the docking of the USS Gravely at the port from October 26 to 30. The Finance Ministry, in a statement on October 26, highlighted the collaborative efforts of these entities to temporarily redirect and process vessels and cargo to the Port of Point Lisas. This redirection ensures that shipping lines, agents, and shippers opting for this alternative can receive their cargo as expected. The ports’ management teams have been diligently working to guarantee seamless berthing, cargo handling, and documentation processes. The PPOS has forwarded all pertinent information to the Port of Point Lisas, and interested agents have provided their vessel details, which are now included in the vessel schedule at the Port of Point Lisas. Shipping agents have been advised to contact their vessel agents to confirm the availability of services at the Port of Point Lisas. Additionally, Customs and Excise Officers have been deployed to support enhanced inspection and clearance operations at both ports. Accommodations have been made for full export and transshipment containers in inventory at the Port of Port of Spain to be transferred to the Port of Point Lisas. Measures have been implemented to minimize disruptions to normal customs port operations, ensuring a seamless and timely transfer of containers. The Port of Point Lisas has extended its gate hours to accommodate all service requests. This arrangement will remain effective until October 30, ensuring that export containers are transferred efficiently and without delay. This collaboration underscores the shared commitment to national trade resilience and operational flexibility within TT’s port network. The teams have worked closely to efficiently accommodate all vessels and maintain the integrity of cargo flows across both ports. The agencies expressed their gratitude to all stakeholders for their cooperation and promised continuous updates as normal operations resume at the Port of Port of Spain.
分类： business
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Angostura reports over $100m in profit
Angostura Holdings Ltd has unveiled impressive financial results for the nine-month period ending September 30, 2025, showcasing robust growth across key metrics. The company reported $757 million in revenue and a $145 million profit before tax, with profit after tax climbing 10 per cent to $104 million. Total assets expanded by six per cent year-over-year to $1.9 billion, supported by a low debt ratio of 0.16. Earnings per share also rose from $0.46 to $0.51, reflecting the company’s strong performance. The international segment experienced significant growth, with Branded Rum sales surging 182 per cent and Angostura Chill sales increasing by eight per cent. Exports now account for 45 per cent of total group revenue, while domestic growth rose by three per cent, driven by the launch of new ready-to-drink products. Operating activities generated $124 million, up from $113 million, and finance income grew by 42 per cent due to strong returns from US dollar investments. Recently appointed chairman Gary Hunt expressed optimism about sustaining long-term growth and maximizing shareholder value through innovation and operational excellence. The company’s board underwent significant changes in 2025, with six former directors resigning in June and five new members appointed in August. These changes delayed the approval of a final dividend of $0.28 per share, originally scheduled for July 31, 2025. Angostura’s financial momentum continues, having achieved $33 million in profit before tax in the first quarter of 2025 and surpassing $1 billion in revenue for the financial year ended December 31, 2024.
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Guyana Stock Exchange launches AI chatbot
The Guyana Stock Exchange (GSE) has introduced a groundbreaking AI Chatbot, marking a significant leap in financial market accessibility and education. Launched on October 13, this innovative tool is the result of a collaborative effort between the GSE and WizdomCRM Guyana Inc, supported by the Caricom Private Sector Organization (CPSO). The AI Chatbot is designed to provide real-time insights from company annual reports, market statistics, and historical data, making complex financial information more accessible to the public. GSE General Manager Sarojinie Rajaram emphasized that this initiative is not just a technological advancement but a step toward empowering Guyanese citizens to confidently engage with the financial market. Dr. Patrick Antoine, CEO and technical director of the CPSO secretariat, highlighted the chatbot’s role in fostering regional collaboration and investor confidence. WizdomCRM, which has already onboarded over 1,700 students on its AI Tutor Platform, aims to extend its reach by integrating the corporate enterprise AI Chatbot directly on the GSE website. TT Country Manager Charielle Plowden noted that the chatbot, powered by an advanced AI model trained on four years of public annual reports and historical data, offers real-time, data-backed insights in simple, relatable language.
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Furness Anchorage appoints two new directors
Furness Anchorage General Insurance Ltd has bolstered its leadership team with the appointment of Jo-Anne Julien and Roger Packer as non-executive directors. Executive Chairman William Ferreira emphasized that these additions are poised to enhance the company’s governance, strategic planning, and long-term growth. Julien, a founding partner at MG Daly and Associates and former chair of the Unit Trust Corporation, brings extensive experience in corporate governance and investment management. Packer, a former CEO of Tucker Energy, adds significant expertise from his roles on boards such as RBC Royal Bank TT and Yara Trinidad. Ferreira highlighted that these appointments align with the company’s commitment to prudent management and its 180-year legacy in the insurance industry. Established in 1979 as part of the government’s initiative to localize the sector, Furness Anchorage has grown into one of Trinidad and Tobago’s largest non-life insurers, with group assets nearing $500 million. Supported by global reinsurers through AON Reinsurance, the company remains focused on stability, customer trust, and growth in a competitive market.
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South Point Hotel opens after $15 million investment
Barbados has welcomed its latest luxury addition, the South Point Hotel, with Tourism Minister Ian Gooding-Edghill hailing it as a significant enhancement to the island’s accommodation sector. The hotel’s grand opening ceremony, held on Friday evening, underscored growing investor confidence in Barbados’ hospitality industry. Minister Gooding-Edghill emphasized that the development aligns with the government’s strategic initiatives to modernize and expand tourism through innovative policies and incentives designed to stimulate economic growth.
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ASFA waarschuwt voor ‘resource curse’ door versnipperd local content-beleid
The Association of Surinamese Manufacturers (ASFA) has expressed deep concerns over the government’s approach to implementing its local content policy in preparation for the upcoming oil and gas production. Wilgo Bilkerdijk, ASFA’s director and former chairman, warns that Suriname risks repeating the economic mistakes of countries like Ghana and Nigeria, where oil revenues generated billions but failed to contribute meaningfully to sustainable development. Bilkerdijk emphasizes that local content initiatives must not be tackled in isolation. ‘We lack a clear economic compass as a nation,’ he states. ‘Without a cohesive national vision and identified growth sectors, we’re merely mopping up with the tap still running.’
ASFA criticizes the fragmented execution of local content strategies, noting that while organizations like the Suriname Energy Chamber show commitment, the government lags in developing an overarching strategy. ‘The government seems reactive to oil and gas developments rather than proactively crafting policies that strengthen the entire economy,’ Bilkerdijk remarks. He underscores that local content should be part of a broader national transformation, addressing education, labor markets, investment laws, certification, and institutional strengthening simultaneously. ‘Without massive upscaling of vocational education and certification of workers and businesses, Suriname won’t be able to capitalize on the oil industry’s opportunities. Foreign labor will fill the gaps, marking the start of the resource curse.’
ASFA highlights that large-scale oil production is expected to begin within two years, yet the labor market remains unprepared. Studies reveal that Suriname’s workforce lacks the necessary skills to meet the oil sector’s demands. ‘If we don’t act swiftly, we’ll follow the path of Ghana and Nigeria, where multinationals reaped the benefits while local economies weakened and populations grew poorer,’ Bilkerdijk cautions. He also warns of the ‘Dutch disease,’ where the lucrative oil industry drains skilled workers from other sectors, undermining agriculture, industry, transport, and ICT—the foundations of sustainable growth.
ASFA urges the government to establish an inter-ministerial council involving the Ministries of Oil and Gas, Economic Affairs, Foreign Affairs, and Natural Resources. This council, Bilkerdijk suggests, should pave the way for a centrally coordinated national local content institute. ‘We need coherence between policy, legislation, and execution,’ he insists. ‘Local content must be part of a broader transformation strategy, supported by new investment laws, fiscal incentives, and certification. Otherwise, Suriname will be left with empty promises.’
Bilkerdijk calls for government-funded development financing to certify workers and businesses, enabling them to meet international oil and gas sector standards. ‘Oil presents a unique opportunity to scale our economy, but only if we invest in the people and businesses driving this transformation,’ he asserts. ASFA stresses that the time for action is now, reminding Suriname of its long-standing but unfulfilled rhetoric on economic diversification. ‘Every government talks about diversification, but no one makes decisions,’ Bilkerdijk concludes. ‘We must define our growth sectors and build policies around them. Otherwise, we’ll lose another historic chance. Without a national vision, profits will flow to multinationals, leaving the population in poverty. We must prevent this at all costs.’
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Ondernemers krijgen ruimere financieringskansen via NOB–VSB partnerschap
The National Development Bank (NOB) and the Association of Surinamese Businesses (VSB) recently hosted a joint information session to educate entrepreneurs about financing and guarantee facilities. The session targeted VSB members seeking credit solutions outside the traditional banking system. NOB offers investment loans of up to USD 100,000 and working capital loans of up to USD 50,000, featuring lower interest rates, extended repayment periods, and flexible grace periods. NOB emphasized its role as a development partner for entrepreneurs struggling to access commercial credit. In collaboration with the Inter-American Development Bank (IDB), loan limits can reach up to USD 500,000, though with shorter repayment terms (3–5 years for investment loans and 1–3 years for working capital). NOB has allocated a USD 10 million IDB facility for this purpose. Project feasibility is prioritized over full collateral coverage. In cases of shortfall, the Suriname Guarantee Fund, managed by NOB, can provide up to 80% guarantee on the loan amount. Entrepreneurs in rural areas without hard collateral may also qualify if they submit an official approval letter from local authorities. A minimum 10% equity contribution is mandatory, which can include liquid assets, previously acquired equipment, or demonstrable business investments. Projects focused on trade (buying/selling), land sales, subdivision, and primary logging are excluded from financing. VSB views this collaboration as crucial for strengthening local entrepreneurship and making development financing accessible to a broader range of businesses.
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BHTA continues strategic push at major international tradeshows and events
The Barbados Hotel and Tourism Association (BHTA) is intensifying its efforts to elevate Barbados’ global tourism profile by actively participating in international tradeshows and events. In a recent strategic move, BHTA members, alongside the Barbados Tourism Marketing Inc. and key public and private sector collaborators, showcased the island’s diverse offerings at two prominent industry gatherings: TEAMS USA and IMEX America.
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#EyeOnMelissa: Scotia Group offices to remain closed on Monday and Tuesday
KINGSTON, Jamaica — In response to the imminent threat posed by Hurricane Melissa, Scotia Group has announced the temporary closure of all its facilities, including Scotiabank branches, Scotia Insurance offices, Scotia Investments, and Scotia Protect. The shutdown will be in effect on Monday, October 27, and Tuesday, October 28, to ensure the safety of both staff and customers. The financial conglomerate has assured the public that it will provide updates on reopening plans once the storm has subsided and a thorough assessment of operational readiness has been completed. Additionally, customers are being cautioned to anticipate potential delays in online transfers during this period. Scotia Group has urged its clients to take precautionary measures, such as safeguarding critical financial documents, identification cards, and bank cards, to mitigate the impact of the hurricane.
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‘Welcome Stamp’ remote work visa brings millions in foreign exchange revenue
Barbados’ innovative Welcome Stamp visa program, launched in 2020 during the COVID-19 pandemic, has proven to be a significant economic boon, generating approximately $6 million in foreign exchange revenue over its first three years. Introduced by Prime Minister Mia Mottley, the initiative aimed to offset the decline in tourist arrivals by attracting high-income professionals to work remotely from the island.