分类: business

  • Mexico Raises Wages, Proposes Shorter Workweeks; Could Belize be Next?

    Mexico Raises Wages, Proposes Shorter Workweeks; Could Belize be Next?

    In a significant overhaul of its labor policies, Mexico has announced a dual-pronged approach to worker compensation and work-life balance. The administration of President Claudia Sheinbaum confirmed a substantial 13% increase to the national minimum wage, set to take effect in January 2026. This adjustment will elevate daily earnings to 315.04 pesos ($17.27 USD), with a higher rate of 440.87 pesos ($24.27 USD) established for the northern border zone to address economic disparities.

    Concurrently, the government has put forward a groundbreaking legislative proposal to reduce the standard workweek. The plan outlines a gradual transition from the current 48-hour benchmark down to 40 hours, with a target completion date of 2030. This initiative represents one of the most progressive shifts in working conditions in the region’s recent history.

    President Sheinbaum defended these economic policies against traditional criticisms, highlighting that minimum wage rates have surged by 154% since 2018 without deterring foreign investment. “Contrary to long-held economic doctrines that warned against wage increases, we are experiencing record levels of foreign investment,” Sheinbaum stated during her weekly press briefing.

    These developments emerge against a backdrop of recent economic contraction, with Mexico’s GDP reporting a 0.3% decline in the last quarter. Meanwhile, neighboring Belize appears to be observing these changes with interest. Prime Minister John Briceño announced in September plans to raise the national minimum wage to $6 BZD per hour ($3 USD) in the coming year, potentially signaling a broader regional trend toward enhanced worker compensation standards.

  • Russia opens two drone production plants in the Middle East

    Russia opens two drone production plants in the Middle East

    Russian technology consortium Futurelab has announced a significant expansion of its strategic operations in the Middle East with the establishment of two comprehensive unmanned aerial systems (UAS) facilities. According to Deputy Director Ilya Shevelev’s statements to Sputnik news agency, these newly inaugurated centers represent a major advancement in the region’s drone technology landscape.

    The facilities, located in two unspecified Middle Eastern nations, will serve dual purposes as both advanced training academies for drone operators and serial production hubs for light and medium-class unmanned aircraft. Shevelev characterized this development as foundational to creating ‘a complete ecosystem for unmanned technologies’ in the region, emphasizing the company’s commitment to fostering long-term technological partnerships.

    Beyond their educational and manufacturing functions, the centers feature exhibition spaces showcasing current drone models, enabling potential clients to evaluate technical specifications and operational capabilities firsthand. Each facility also houses dedicated sales offices responsible for contract negotiations and export coordination, creating an integrated business environment for regional partners.

    Shevelev highlighted that these comprehensive centers represent a strategic milestone in global market penetration for Russian drone technology while simultaneously accelerating the development of the Middle East’s domestic drone industry. This expansion reflects growing international demand for civilian UAS applications and Russia’s increasing role as a technology exporter to emerging markets.

  • Stella Global Realty to host ‘Sip and See’ event this Saturday

    Stella Global Realty to host ‘Sip and See’ event this Saturday

    Stella Global Realty (SGR) is set to bridge the gap between ambition and acquisition for Jamaica’s business community with an exclusive Commercial Investment ‘Sip and See’ event this Saturday. The gathering, tailored for entrepreneurs, investors, and industry professionals, will unfold from 1:00 PM to 4:00 PM at the firm’s Kingston office located at 11-1/2 Connolley Avenue, Kingston 4.

    The event’s innovative format is designed to fuse practical property exploration with essential financial literacy. Attendees will be granted a first-look tour of two premium commercial properties exclusively listed by Stella Global Realty, providing a tangible sense of available opportunities.

    Moving beyond the showcase, the core of the event lies in its specialized educational workshops. These sessions are dedicated to deconstructing the intricate process of commercial financing. Key topics will include actionable strategies for securing loan approval, with direct advice on the necessary documentation and financial prerequisites. A significant focus will be placed on effective Loan-to-Value (LTV) offsetting strategies, offering businesses crucial tips on securing additional funding to make large-scale commercial purchases more accessible.

    Tiffany Gray, Founder and CEO of Stella Global Realty, emphasized the mission: ‘In today’s market, ownership is the ultimate tool for wealth building. Leveraging our international resources and experience across Jamaica and 13 U.S. states, we are uniquely positioned to teach entrepreneurs how to use real estate to build generational wealth.’

    Adding considerable weight to the financial discourse, CIBC FirstCaribbean International Bank, alongside other major financial institutions, will lead conversations. This provides attendees with direct expert insight into the current lending landscape and a rare opportunity to network with key decision-makers capable of financing their next acquisition.

    The overarching aim is to empower the local business community by providing the knowledge and resources necessary to transition from leasing to powerfully owning commercial real estate. Attendance is limited and requires registration via the official Eventbrite page.

  • WATCH: ‘My Maison’ debuts with handpicked lifestyle and skincare brands

    WATCH: ‘My Maison’ debuts with handpicked lifestyle and skincare brands

    KINGSTON, Jamaica — A new retail establishment has emerged in the Corporate Area, transforming the local shopping scene for home décor, fashion, and specialty gifts. My Maison, a lifestyle boutique founded by the entrepreneurial in-law duo Alexa Bicknell and Krista Bicknell, represents the culmination of a shared vision between the two partners.

    Strategically positioned at Shop #8 within McMaster Plaza, the boutique presents an extensive array of meticulously selected merchandise. The inventory spans children’s items and toys to contemporary clothing lines, beauty essentials, and an assortment of distinctive gifts. The founders have placed significant emphasis on curating products that meet specific quality and aesthetic standards, distinguishing their offering in the local market.

    In a detailed commentary on their product philosophy, the founders highlighted their commitment to creating a retail environment that harmonizes style with substance. Krista Bicknell provided specific insight into their beauty selections, noting, ‘These formulations are ideal for individuals with highly sensitive skin, as they prevent irritation. Specifically engineered for Jamaica’s tropical climate, the products deliver a soft, gentle sensation without any residual heaviness.’

    Early market reception has been markedly positive. An eager customer shared, ‘The arrival of such a store has been long anticipated. Its charm is undeniable, and the product range is comprehensively appealing.’

    The founding partners conveyed profound enthusiasm regarding their launch and issued a warm invitation to the community: ‘We are thrilled to open our doors and invite everyone to experience My Maison firsthand.’

  • Flow issues rebates to over 230,000 customers affected by Hurricane Melissa

    Flow issues rebates to over 230,000 customers affected by Hurricane Melissa

    KINGSTON, Jamaica — In response to widespread service disruptions caused by Hurricane Melissa’s devastating impact on telecommunications infrastructure, provider Flow Jamaica has unveiled comprehensive relief measures including automatic rebates for over 230,000 fixed-line customers affected by extended outages.

    The hurricane particularly devastated western Jamaica regions, where communication infrastructure suffered severe damage resulting in prolonged service interruptions. The company’s rebate program forms part of a multi-tiered customer support strategy implemented throughout the hurricane crisis.

    Preemptive measures taken before Melissa’s arrival included providing all mobile customers with complimentary 1GB data packages and guaranteeing no service disconnections regardless of outstanding balances, ensuring Jamaicans could maintain vital communications during the emergency.

    Following the hurricane’s passage, Flow deployed emergency response teams to severely affected communities, distributing free SIM cards, mobile devices, and data plans to facilitate reconnection during recovery operations.

    Nyree Coke, Flow’s Customer Experience Director, emphasized the company’s customer-centric approach: “Our communities have endured tremendous hardship, and we recognize communication’s critical role in crisis situations. These rebates demonstrate our steadfast commitment to supporting customers through recovery. We maintain our focus on compassionate service, transparent communication, and sustained support during island-wide restoration.”

    The automated rebate system will credit affected fixed-line customers from October 29th until their service restoration date, with continuing monthly credits until full service resumes. Customers will receive electronic notifications via email and SMS for each credit application.

    Billing implementation will see November credits reflected on December statements, with subsequent rebates for November 21-December 8 and December 9-23 periods appearing on January 2026 bills. Flow advises customers with active services to maintain regular payment schedules to ensure seamless credit applications and avoid disconnections related to pre-November arrears.

    The company confirmed technical teams are collaborating with national emergency services and utility partners to accelerate restoration, deploying technicians immediately as commercial power returns to affected areas.

    Customers requiring additional support can contact Flow’s customer experience team through email at customerfirst@cwc.com or WhatsApp 876-620-2200.

  • Government receives interim report on possible restart of oil refinery

    Government receives interim report on possible restart of oil refinery

    The Trinidad and Tobago government is advancing plans to resurrect the idled Pointe-a-Pierre oil refinery, with Cabinet expected to review a comprehensive final assessment in early 2026. An interim evaluation submitted to Prime Minister Kamla Persad-Bissessar and Energy Minister Dr. Roodal Moonilal has concluded that reactivating the facility remains technically feasible and commercially promising despite its six-year dormancy.

    The special committee, chaired by former energy minister Kevin Ramnarine, delivered its preliminary findings following an intensive four-month review process involving eleven sessions. The team conducted physical inspections of infrastructure, consulted technical experts, analyzed historical operational data, and developed sophisticated economic models to evaluate viability.

    While noting significant deterioration across multiple processing units due to prolonged inactivity, investigators identified the uncommissioned Ultra Low Sulphur Diesel plant as a particularly valuable asset. The report emphasizes that timing is critical, warning that further delays could accelerate degradation and undermine economic feasibility.

    The proposed restart strategy outlines a four-phase approach prioritizing economic returns, repair complexity, resource availability, and capital expenditure requirements. Prime Minister Persad-Bissessar has mandated that any operational resumption must comply with rigorous health, safety, and environmental protocols.

    Proponents highlight substantial potential benefits including employment generation, foreign exchange earnings, and enhanced regional energy security positioning. The analysis notes that prior to its 2018 closure, the refinery had achieved operational profitability before revenues were diverted to service outstanding debts.

    However, former Energy Minister Stuart Young has characterized the initiative as “smoke and mirrors,” raising critical questions about the projected $1 billion restart costs, crude sourcing challenges, and funding mechanisms. Opposition figures have specifically warned against potential privatization of state-owned Paria Fuel Trading Company, emphasizing the need to maintain national control over fuel distribution infrastructure.

    Trade union representatives have announced plans to hold a press conference addressing the report’s implications for workers and national energy policy.

  • Pioneers, industry leaders honoured at Tunapuna business chamber awards

    Pioneers, industry leaders honoured at Tunapuna business chamber awards

    TUNAPUNA – The National Racquet Centre in Tacarigua served as the prestigious venue on December 4 for the Greater Tunapuna Chamber of Industry and Commerce (GTCIC) to host its annual awards ceremony, casting a well-deserved spotlight on the visionary leaders who have fundamentally shaped the economic landscape of the East-West Corridor.

  • Agostini denies monopoly, Aventa’s government tenders highest in 2014

    Agostini denies monopoly, Aventa’s government tenders highest in 2014

    The Agostini Group has issued a comprehensive rebuttal against persistent allegations that it dominates Trinidad and Tobago’s pharmaceutical sector through monopolistic practices. In a statement released on December 5, the century-old conglomerate presented detailed market data to counter claims of controlling medication pricing, distribution, and market access.

    According to the Group’s analysis, its pharmaceutical distribution arm Aventa has consistently held less than half the value of government tenders while distributing under 30% of the country’s medicinal products. The company emphasized that Trinidad’s pharmaceutical distribution landscape is both well-regulated and competitive, with over 70 registered distributors supplying medicines nationwide.

    Regarding retail operations, Agostini clarified that while Superpharm and Mpharmacy operate under its corporate umbrella, they function separately from Aventa. With 20 outlets collectively, these retailers represent approximately 18% market share—second position in a market comprising more than 500 pharmacies across the nation.

    The Group provided historical tender data spanning 2011-2025 to demonstrate market dynamics. During the People’s Partnership administration (2011-2015), Aventa received 40-50% of government tender value while supplying just over 20% of required products. More recently (2023-2025), the company secured 34.3% of tender value while fulfilling 16% of product requirements.

    This marks the second time in 2025 that Agostini has addressed monopoly allegations. Previous accusations emerged in January from then-opposition senator Wade Mark, followed by June comments from Health Minister Dr. Rishad Seecharan regarding pharmaceutical pricing under the former administration. The Group also faced scrutiny in September regarding foreign exchange allocations through the EXIMBANK facility.

    CEO Barry Davis attributed the company’s century-long success to ‘longstanding relationships with global suppliers, consistent and affordable service, and strict compliance with regulatory standards.’ He explained that pharmaceutical pricing reflects international sourcing costs affected by global inflation, manufacturing constraints, and increased demand for branded drugs.

    Regarding forex access, Davis clarified that EXIMBANK payments go directly to international suppliers, with no US funds received by Agostini subsidiaries. The Group maintains standard loan facilities with EXIMBANK while providing essential pharmaceutical products and basic food items to Trinidadian communities.

  • KFC Jamaica rolls out self-service kiosks

    KFC Jamaica rolls out self-service kiosks

    KINGSTON, Jamaica — In a significant modernization initiative, KFC Jamaica has introduced self-service ordering kiosks across its restaurant network, marking a transformative shift in customer dining experiences. The quick-service giant unveiled this technological advancement at its Springs Plaza location in Half-Way-Tree on Wednesday, with plans to implement the system throughout all 43 Jamaican outlets in phased rollouts over subsequent weeks.

    The touchscreen terminals represent a strategic investment in operational efficiency, enabling patrons to comprehensively browse menu options, customize meals according to personal preferences, and complete transactions without engaging with traditional counter service. This innovation, initially announced during KFC’s 50th-anniversary celebrations in early 2025, aims to accelerate service delivery while providing consumers greater autonomy in their brand interactions.

    Payment flexibility remains central to the new system—customers may opt for direct card transactions at the kiosk interface or proceed to designated cashiers for traditional payment processing after order placement. This dual-path approach maintains accessibility for all payment preferences while streamlining the overall ordering workflow.

    To facilitate customer adaptation, KFC Jamaica has deployed specialized brand ambassadors who provide hands-on guidance for first-time users and address technical inquiries during the transition period. This support mechanism ensures seamless integration of the new technology into existing service frameworks.

    The self-service kiosks complement rather than replace the established remote ordering channels, including WhatsApp communications (876-333-2KFC), the official kfcjamaica.com digital platform, and the proprietary mobile application. This multi-channel strategy reinforces KFC’s commitment to technological inclusivity and customer convenience across all touchpoints.

    Industry analysts view this development as part of a broader trend toward restaurant automation, where major chains leverage digital solutions to enhance service quality, reduce operational bottlenecks, and create more engaging consumer experiences through technological empowerment.

  • Fee cuts for recovery

    Fee cuts for recovery

    In a significant move to accelerate economic recovery, the Jamaican government has unveiled a comprehensive package of business fee reductions for seven parishes severely impacted by Hurricane Melissa. Industry Minister Aubyn Hill announced the measures in the Senate on Friday, targeting both immediate relief and longer-term business revitalization.

    The centerpiece of the initiative involves a 50% reduction in incorporation fees for charities specifically established to support hurricane recovery efforts. This special rate will be available during a four-month window from December 1, 2025, through March 31, 2026, recognizing the crucial role community organizations play in disaster response.

    Additionally, the Companies Office of Jamaica will extend its late fee waiver program for existing businesses in affected areas, now covering the period from October 27, 2025, to October 31, 2026. The agency will also reduce costs for essential documentation services, including letters of good standing and certified copies, which many businesses need to verify their operational status after losing critical paperwork in the storm.

    To improve accessibility, the office will deploy mobile pop-up services across affected parishes between December 2025 and March 2026, bringing essential business services directly to communities still grappling with transportation challenges.

    The announcement came as part of a broader update on post-hurricane recovery efforts that have already involved assessments of 1,293 businesses despite significant infrastructure obstacles. Minister Hill acknowledged the difficulties faced by assessment teams, including blocked roads and communication breakdowns in the immediate aftermath of the disaster.

    While opposition spokesperson Kisha Anderson welcomed the measures, she called for more extensive support, particularly for micro-enterprises that form the backbone of local economies. Anderson argued that many small operators—from hairdressers to craft vendors—typically maintain less than two weeks of cash reserves and may require complete fee waivers rather than reductions to survive. She advocated for establishing a national task force incorporating government, opposition, private sector, and civil society representatives to develop a more structured recovery plan.