In a significant development aimed at de-escalating trade tensions, China and the United States have agreed to hold another round of negotiations in the coming week. This decision comes as the two global economic powerhouses strive to avert another round of retaliatory tariffs that could further strain their already fraught relationship. The announcement follows a recent phone call between Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent, described by both sides as “candid, in-depth, and constructive.” The talks are expected to take place in person, with both parties emphasizing the urgency of resolving their ongoing trade dispute. The backdrop to these negotiations includes Beijing’s recent imposition of stringent controls on its rare earths industry, a move that prompted US President Donald Trump to threaten 100% tariffs on Chinese imports. Trump had also previously hinted at canceling his planned meeting with Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation (APEC) summit in South Korea. However, in a recent interview with Fox News, Trump confirmed that the meeting with Xi would proceed, acknowledging that the proposed tariffs were unsustainable. The rare earths issue remains a critical point of contention, as these materials are essential for a wide range of technologies, from smartphones to military equipment. US Trade Representative Jamieson Greer also participated in the call, underscoring the high stakes of the negotiations. Both nations appear to be cautiously optimistic about finding a resolution, though the path forward remains uncertain.
分类： business
-
Romain: Insurance premiums to increase over levy
Malabar/Mausica MP Dominic Romain has issued a stark warning that insurance companies are preparing to hike premium prices in response to the government’s proposed 0.25% levy on their assets. Speaking during the budget debate in Parliament on October 17, Romain, who also serves as the president of the TT Association of Insurance and Financial Advisors, revealed that he had met with leaders of major insurance firms to discuss the levy. He stated, ‘Based on what was said, preliminary numbers have been crunched, and increases are coming. It’s just a matter of how much and when.’
Romain’s comments came in response to Finance Minister Davendranath Tancoo’s call for companies to share the burden of the new measures and for citizens to resist cost pass-throughs. Romain argued that companies are unlikely to absorb the levy, as they have obligations to their shareholders, customers, and clients. ‘When the government intends to pick the pockets of these entities, you are in fact robbing the citizens as well,’ he emphasized.
The levy, announced by Tancoo on October 13, targets commercial banks and insurance companies due to their profitability, high liquidity ratios, and strong asset growth. Tancoo highlighted that despite these institutions’ financial health, average citizens face exorbitant fees and minimal returns on savings and investments. However, institutions operating under the Special Economic Zones Act will be exempt from the levy, which takes effect on January 1, 2026, and is projected to generate $575 million annually.
Romain also criticized the Finance Minister for portraying financial institutions as predatory, noting that many engage in corporate social responsibility and contribute to the community. He warned that applying the levy to institutions like Republic Bank, which is part of the National Investment Fund, would harm shareholders, including senior citizens relying on investment income for retirement expenses.
-
VIDEO: PM Browne defends and clarifies his statement on hosting foreign military assets in Antigua and Barbuda
PM Browne defends and clarifies his statement on hosting foreign military assets in Antigua and Barbuda
-
Two Dominican DAIFA members receive Master Financial Advisor credential in T&T ceremony
The Dominica Association of Insurance and Financial Advisors (DAIFA) has extended heartfelt congratulations to two of its esteemed members, Mrs. Cheryl Rolle and Mr. Brenton Hilaire, for earning the Master Financial Advisor (MFA) credential from the Life Insurance Marketing and Research Association (LIMRA). This prestigious achievement marks the culmination of a rigorous journey that began in 2018 and was officially recognized on October 4, 2025, during the Trinidad and Tobago Association of Insurance and Financial Advisors (TTAIFA) graduation ceremony held at the Hilton Hotel in Trinidad. The event was graced by Ms. Michelle Havelock from LIMRA, who represented TTAIFA and underscored the significance of this milestone in the financial advisory profession. Mrs. Cheryl Rolle, Principal Representative of Sagicor Life EC in Dominica, brings 37 years of unparalleled expertise in the insurance sector, characterized by her leadership, mentorship, and exemplary service. Mr. Brenton Hilaire, Agency Manager at Sagicor Life EC in Dominica, boasts 16 years of experience in administration and sales, standing as a strong advocate for continuous professional development in financial services. The MFA designation, globally acknowledged as the gold standard in financial advising, signifies mastery in client service, business management, and strategic financial planning—skills essential for the sustainable growth of the Caribbean’s insurance and financial services industry. In a commendation letter, David N. Levenson, President and CEO of LIMRA, LOMA, and LL Global, lauded both advisors for their discipline and dedication, emphasizing that the MFA credential embodies true professionalism. Both Mrs. Rolle and Mr. Hilaire expressed pride in their accomplishment, highlighting their commitment to raising industry standards and promoting financial literacy in Dominica. DAIFA celebrated this achievement as a testament to the excellence of its members and reaffirmed its dedication to fostering professional development and aligning with international best practices to elevate industry standards.
-
Government to Buy Fortis Assets; Opposition Demands Transparency
The Government of Belize has unveiled a strategic initiative to acquire Fortis Inc.’s electricity assets within the country, marking a significant shift in the ownership of key energy infrastructure. The acquisition encompasses Fortis’s 33.3% stake in Belize Electricity Limited (BEL) and its three hydropower facilities on the Macal River—Mollejon, Chalillo, and Vaca. The proposal is set to be presented to the House of Representatives for parliamentary approval on Friday, with the transaction expected to conclude by November 15, 2025. Funding for the purchase will be sourced through a special budgetary allocation, supplemented by a domestic equity and debt offering to offset initial expenditures. The government emphasized that this move aims to secure local control over critical energy resources and reduce electricity costs for consumers. A newly established entity, Hydro Belize Limited, will oversee the acquired assets. Based in San Ignacio, Cayo District, the company will be led by CEO Kay Menzies and governed by an interim board chaired by Ambassador Lynn Young, a seasoned professional with extensive experience in both BEL and Fortis Belize. The government’s advisory team included prominent firms such as NERA Consulting UK, Hallmark Advisory, Marsh LLP, and Sukhnandan Consulting LLC, which played a pivotal role in structuring the deal. However, the announcement has sparked criticism from the United Democratic Party (UDP) Opposition, led by Hon. Tracy Taegar Panton. In a press statement dated October 17, 2025, the UDP labeled the transaction as hasty and lacking transparency, citing the absence of independent valuation, regulatory scrutiny, and public disclosure. The Opposition also warned that the financing mechanism, particularly the use of a special budgetary appropriation, could exacerbate Belize’s national debt, placing an additional burden on taxpayers.
-
Message from Kemar Cumberbatch, president of the Barbados Co-operative & Credit Union League Limited, on the occasion of International Credit Union Day 2025
International Credit Union (ICU) Day serves as a powerful testament to the transformative impact of collective effort, particularly among communities often overlooked in traditional financial systems. In Barbados, the credit union movement has forged a deeply rooted and mutually beneficial relationship with the working-class and middle-income populations for generations. Today, 24 financial cooperatives operate under the Barbados Co-operative & Credit Union League Limited, showcasing the strength of shared resources and unified goals. What began as a grassroots initiative to address financial exclusion has evolved into a multibillion-dollar sector that continues to uplift individuals and communities alike. This year’s ICU Day theme, ‘Cooperation for a Prosperous World,’ resonates profoundly with Barbados’ credit union movement, highlighting its resilience and success. Since its inception in 1948, ICU Day has been a time to reflect on the movement’s history, celebrate its achievements, and honor the individuals who have driven its growth. It also serves as a platform to raise awareness about the critical role credit unions play globally in empowering members and improving lives. In Barbados, credit unions have remained steadfast through the island’s social and economic challenges, now holding nearly $3 billion in savings and $3.4 billion in total assets. Members increasingly rely on these institutions for business development, housing, education, transportation, and personal financial empowerment. The Barbados Co-operative & Credit Union League, headquartered in St. Michael, acts as the sector’s strategic hub, providing leadership training, governance support, and financial literacy programs. The league also champions initiatives to enhance technological capabilities and cybersecurity while advocating for the sector’s inclusion in the national deposit insurance program. As Barbados celebrates International Credit Union Day 2025, the movement reaffirms its commitment to cooperation, honoring its shared history and embracing future opportunities to build a prosperous and inclusive future for all.
-
Canadian travel agents explore Bim in ‘mega’ familiarisation tour
Barbados has initiated a strategic effort to enhance tourism from Canada, one of its key markets, through the Barbados Tourism Marketing Inc’s (BTMI) Spirit of Barbados Mega Fam week-long familiarization tour. This initiative aims to provide leading Canadian travel agents with an immersive experience of the island’s accommodations, attractions, and cuisine, while highlighting its expanding infrastructure and improved air connectivity from Canada. The program is part of a broader push to capitalize on the anticipated record-breaking winter tourism season. Speaking at the launch event at the Hilton Barbados Resort, Minister of Tourism and International Transport Ian Gooding-Edghill emphasized the importance of strategic partnerships with airlines, particularly Air Canada, as a cornerstone of Barbados’ tourism success. He also revealed plans to expand connectivity with secondary Canadian markets, including Atlantic Canada, Ontario, and Western Canada. To support this growth, major infrastructure projects are underway, including the modernization of Grantley Adams International Airport and upgrades to the Bridgetown Port, which will enhance passenger and cruise experiences. BTMI Director for Canada, Eusi Skeete, highlighted the importance of the Mega Fam tour in offering agents firsthand insights into Barbados, beyond traditional training and promotional materials. He noted that participants were selected based on their strong sales performance for Barbados this year, with the goal of further boosting winter and summer bookings. Skeete emphasized that the initiative is not just about increasing bookings but also about strengthening relationships with travel partners and creating new opportunities for Barbadian tourism stakeholders. By showcasing the island’s unique offerings, Barbados aims to solidify its position as a top destination for Canadian travelers.
-
Air Canada expands Barbados flights ahead of winter season
Barbados is set to experience a significant increase in air travel this winter as Air Canada enhances its services to the island, deploying its cutting-edge Boeing 787-9 Dreamliner aircraft and expanding flight schedules from Toronto and Montreal. This strategic move underscores growing confidence in Barbados as a premier tourist destination.
Ian Gooding-Edghill, Barbados’ Minister of Tourism and International Transport, highlighted these developments during the launch of the Spirit of Barbados Mega Fam familiarisation tour at the Hilton Barbados Resort. He emphasized that the expanded airlift reflects strong confidence in the island’s tourism offerings and signals the beginning of what is expected to be a record-breaking winter season.
Air Canada will introduce the Boeing 787-9 Dreamliner on the Barbados route starting next Wednesday, well ahead of the traditional winter season. Known for its fuel efficiency, advanced cabin comfort, and extended range, the Dreamliner is one of the most modern aircraft in operation. The deployment of this aircraft will continue through April 30, 2025, significantly boosting airlift capacity and strengthening the partnership between Barbados and Air Canada.
In addition to the Dreamliner service, Air Canada will commence flights from Montreal on November 2, six weeks earlier than originally planned. The airline will also increase its Toronto-Barbados flights to nine weekly, including double frequencies on Fridays and Sundays during the peak winter travel period. These enhancements are expected to increase seat capacity by 16% for the upcoming season.
Gooding-Edghill noted that these commitments reflect Air Canada’s confidence in Barbados’ consistent year-on-year performance as a sought-after destination and the robust demand projected for the island this winter. He also revealed that Barbados is exploring opportunities to expand its reach across Canada, including new gateways in Atlantic Canada and Ontario, as well as the reintroduction of services from Western Canada.
The minister expressed Barbados’ ambition to establish year-round services from Montreal and introduce new routes from Ottawa and Halifax, ensuring direct connectivity to these regions. These efforts are part of a broader strategy to position Barbados as the most accessible destination in the southern Caribbean, offering visitors a seamless travel experience from takeoff to touchdown.
-
Offshore-capaciteit versterkt in aanloop naar GranMorgu-project
Suriname’s offshore industry is gearing up for a transformative phase as the GranMorgu project, set to commence production in 2028, takes center stage. This ambitious initiative aims to bolster local expertise, enhance logistical capabilities, and align with international offshore standards. Recently, TotalEnergies, in collaboration with the Maritime Authority of Suriname, hosted the Supply Vessel Services Technical Workshop at the Marriott Hotel. The two-day event attracted over seventy participants, including local businesses, technical experts, and international partners, fostering collaboration, knowledge exchange, and operational readiness. The workshop focused on the critical role of supply vessels and maritime support within the offshore value chain, a cornerstone of TotalEnergies’ future production activities. Hercules Medeiros, Field Operations Manager, emphasized the importance of Surinamese involvement, stating, ‘A project of this scale cannot succeed without the active participation of Surinamese companies, government agencies, and professionals.’ TotalEnergies has made local engagement a key pillar of its sustainable development strategy, linking oil production in Suriname to training, certification, and business development. The company aims to equip Surinamese professionals and enterprises to participate in the global offshore industry. By integrating international safety and environmental standards into local operations, TotalEnergies seeks to contribute to Suriname’s economic growth and sustainable development goals. The workshop featured technical sessions, practical discussions, and assessments of local readiness for offshore operations. The GranMorgu project in Block 58 is one of the largest investments in Suriname’s recent history and is expected to position the country as a regional energy hub.
-
Credit union model rooted in people, sustainability
As Barbados commemorates World Credit Union Day, the spotlight shines on the economic significance of the credit union movement, a sector whose value is firmly rooted in data rather than sentiment. Dr. Ankie Scott-Joseph, an economist at the University of the West Indies, underscores the pivotal role of credit unions in the nation’s financial stability. According to the 2024 Financial Stability Report, jointly published by the Central Bank of Barbados and the Financial Services Commission, credit unions collectively hold assets worth $3.66 billion, accounting for 10% of the financial system and 22.8% of the country’s GDP. This translates to nearly a quarter of Barbados’ annual economic output, highlighting their substantial contribution to national productivity.