NEW YORK, United States (AFP) — The creators of the $MELANIA cryptocurrency, launched by US First Lady Melania Trump in January, are now facing serious allegations of orchestrating a scheme to manipulate its market value. Court documents filed on Tuesday reveal that the executives behind the Meteora cryptocurrency exchange platform, where $MELANIA was initially traded, are accused of facilitating a fraudulent operation that led to the coin’s dramatic price collapse.
分类： business
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Transforming Tobago tourism
In a compelling appeal to Tobago’s tourism leaders, a concerned citizen has called for a transformative shift in the island’s tourism strategy. The current focus on luxury tourism, while beneficial in some aspects, risks creating economic exclusion and limiting opportunities for local communities. The author advocates for a more inclusive model termed ‘equal tourism,’ which aims to broaden participation and ensure that the benefits of tourism growth are shared equitably among citizens, small businesses, and communities. The proposal emphasizes the need for a balanced approach that prioritizes affordability, community engagement, and sustainable development. Key recommendations include reframing connectivity strategies, supporting mid-tier accommodations, expanding community-based tourism, and upgrading infrastructure. Additionally, the author stresses the importance of smarter marketing, stronger governance, and local empowerment to ensure Tobago’s tourism sector thrives in a way that benefits all stakeholders. The article highlights the success of similar strategies in other Caribbean nations and urges Tobago to embrace a model that reflects its unique identity and values. By fostering a tourism industry rooted in fairness and accessibility, Tobago can protect its natural beauty, cultural heritage, and community spirit while achieving long-term economic resilience.
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Netflix shares sink as quarterly profit misses mark
Netflix experienced a significant drop in its share price on Tuesday following the release of its quarterly earnings report, which revealed profits falling short of market expectations. The streaming giant reported a profit of $2.5 billion on revenue of $11.5 billion for the recently concluded quarter. However, the company faced a substantial $619 million expense due to an ongoing tax dispute with Brazilian authorities. Netflix CFO Spencer Neumann clarified that this expense was not an income tax but rather a cost associated with operating in Brazil, potentially affecting other companies as well. Neumann attributed the timing of this expense to a recent court ruling involving another company in Brazil. Consequently, Netflix shares plummeted over six percent in after-market trading, settling just below $1,163. Despite this setback, Netflix highlighted strong viewership in the UK and the US, driven by popular content such as ‘KPop Demon Hunters’ and the final season of ‘Stranger Things.’ The company also expressed optimism about its ad-supported membership tier, which saw its best sales quarter to date. Additionally, Netflix hinted at potential acquisitions, including Warner Brothers Discovery, as it continues to focus on organic growth and strategic opportunities.
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L’Oreal says interested in Armani stake
PARIS, France — In a bold move to expand its luxury portfolio, French cosmetics giant L’Oreal has expressed interest in acquiring a stake in the Italian fashion house Armani, even as it finalizes a landmark $4.6 billion deal to purchase Kering’s beauty division. The announcement comes just days after L’Oreal and Kering, the parent company of Gucci, revealed the acquisition, which includes exclusive licences for iconic brands such as Gucci, Bottega Veneta, and Balenciaga starting in 2028.
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Nutrien to shut down Trinidad nitrogen operations
Nutrien Ltd, a leading global crop-input producer based in Canada, has announced a controlled shutdown of its Trinidad Nitrogen operations at the Point Lisas Industrial Estate, effective October 23. The decision stems from ongoing port access restrictions imposed by Trinidad and Tobago’s National Energy Corporation (NEC) and persistent challenges in securing affordable and reliable natural gas supplies. These issues have significantly reduced the free cash flow contribution of the Trinidad operations over an extended period.
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KFTL invests in modernisation to strengthen port operations
KINGSTON, Jamaica — Kingston Freeport Terminal Limited (KFTL) is making significant strides in its modernization and expansion efforts with the acquisition of two cutting-edge ship-to-shore cranes, valued at nearly US$24 million. This strategic move underscores KFTL’s commitment to establishing Jamaica as a premier logistics hub in the Caribbean region.
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IMF Managing Director says global economy performing better than expected, but challenges persist
In a press conference held during the IMF/World Bank Annual Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva provided a cautiously optimistic assessment of the global economy. Despite facing significant geopolitical and economic pressures, the global economy has demonstrated unexpected resilience, performing ‘better than expected, but worse than needed.’ Georgieva highlighted the impact of fluctuating tariffs, political uncertainty, and recession fears over the past six months, which have tested economic stability worldwide. The IMF’s latest World Economic Outlook reveals that global growth remains steady, with projections indicating a slight slowdown from 3.3 percent in the previous year to 3.2 percent this year and 3.1 percent in 2026. Georgieva attributed this resilience to stronger policy fundamentals in emerging markets and the private sector’s swift adaptation through frontloading imports and reinforcing supply chains. However, she cautioned that medium-term growth prospects remain weak, with public debt nearing record highs and global imbalances persisting. Georgieva emphasized the need for countries to focus on unlocking private sector growth, securing strong macroeconomic fundamentals, and addressing global imbalances to strengthen economic resilience. The meetings concluded on Friday at the IMF headquarters in Washington, D.C.
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VIDEO: Most government vehicles with ‘A’ plates to be recalled and given ‘G’ plates
Vehicle Shipped to Dominica an A.i creation
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Farmers, exporters warn of trouble beneath Saint Lucia’s sea moss boom
Saint Lucia’s burgeoning sea moss industry, once celebrated for its premium quality and unique harvesting methods, is now facing a crisis of devaluation due to weak oversight and increasing competition. Local farmers and exporters are urging authorities to expedite efforts to regulate and standardize the sector, warning that the island’s once-lucrative product is losing its market edge.
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CDB, OPEC Fund forge partnership to boost Caribbean development
In a historic move, the Caribbean Development Bank (CDB) and the OPEC Fund for International Development have inked a groundbreaking Memorandum of Understanding (MOU) to bolster cooperation and expedite sustainable development across the Caribbean region. The agreement, signed during the International Monetary Fund-World Bank Annual Meetings in Washington, DC, outlines a comprehensive framework for collaboration in critical sectors including climate resilience, renewable energy, food security, infrastructure development, and youth empowerment. This partnership aims to facilitate joint financing initiatives, technical assistance, and knowledge sharing, enabling Borrowing Member Countries (BMCs) to access innovative resources and solutions. CDB President Daniel Best hailed the MOU as a transformative step toward reshaping the region’s development trajectory. He emphasized that strategic alliances between multilateral development banks are essential for addressing global challenges and advancing the Sustainable Development Goals (SDGs). The collaboration will focus on project preparation, regional dialogues, and capacity building, with priority areas such as climate-smart agriculture, water security, digital connectivity, and private sector expansion. Best highlighted the unique synergy between CDB’s regional expertise and the OPEC Fund’s global reach, which he said would unlock unprecedented opportunities for Caribbean nations. The partnership will also support youth empowerment, technical and vocational training, and innovative financing mechanisms like debt-for-sustainability swaps and blue economy projects, further cementing the Caribbean’s role as a leader in climate resilience and sustainable development.