分类: business

  • PUC Moves to Test Telecom Dominance, Invites Public Input

    PUC Moves to Test Telecom Dominance, Invites Public Input

    The Public Utilities Commission (PUC) of Belize has initiated a comprehensive review of the nation’s telecommunications landscape, raising fundamental questions about market competition and consumer protection. In a significant regulatory development, the Commission has published a 57-page Initial Determination that casts doubt on whether current market conditions adequately safeguard consumer interests.

    The document, now open for public consultation until March 2, represents the regulator’s preliminary assessment of both retail and wholesale telecommunications markets. Central to this examination is whether any market participant possesses sufficient dominance to operate independently of competitive pressures—a condition that could trigger regulatory intervention under Section 42 of the Telecommunications Act.

    PUC officials emphasize that the primary objective of this review is consumer protection, noting that inadequate competitive constraints can lead to excessive pricing, limited service options, reduced quality, and discriminatory practices. The Commission maintains that effective market competition naturally protects consumers, while regulatory oversight becomes necessary where competition proves insufficient.

    The review assumes particular significance in light of Section 19(5) of the Telecommunications Act, which requires PUC approval for any sale, merger, or transfer of control. The regulatory body retains authority to reject transactions that potentially undermine the Act’s objectives of preventing monopolistic practices and ensuring fair competition.

    While not explicitly ruling on any specific acquisition, the PUC’s analysis appears to center on a crucial question: Would the disappearance of Speednet significantly diminish market competition? The Commission clarifies that this Initial Determination does not constitute a final ruling on market dominance or represent any finding of legal violation.

    The assessment encompasses a broad spectrum of services, including retail fixed voice, mobile services, broadband internet access, international roaming, toll-free services, and enterprise messaging. At the wholesale level, the review examines call termination, network access, leased lines, and international connectivity, recognizing that dominance in wholesale markets can adversely affect retail competition.

    The PUC stresses that market dominance identification does not imply unlawful conduct but serves as a regulatory mechanism to determine whether enhanced oversight might be necessary to protect consumers and promote effective competition. The analysis adopts a forward-looking perspective based on current and foreseeable market conditions rather than past regulatory decisions.

    Belize Telecommunications Limited (BTL) has responded by asserting that no final decisions have been made and that the company operates within legal boundaries. Meanwhile, the proposed acquisition continues to face opposition from various business groups, religious organizations, media outlets, and civil society representatives.

    Interested parties including licensees, consumer advocacy groups, and public stakeholders are invited to submit written comments by 4:00 p.m. on March 2. These submissions will inform whether the Commission’s preliminary findings are confirmed, modified, or withdrawn before any final determination is issued.

  • Court rules airline funds held by CAS do not belong to liquidation estate

    Court rules airline funds held by CAS do not belong to liquidation estate

    In a landmark ruling with significant implications for creditor rights and trust law in commercial transactions, the Eastern Caribbean Supreme Court has determined that over EC$513,000 collected by Caribbean Airport Services Ltd. (CAS) on behalf of two major airlines does not constitute company assets and must be returned to the carriers. Justice Rene Williams delivered the decisive judgment, establishing that the funds were held in a fiduciary capacity despite not being segregated in separate accounts.

    The case centered on CAS, a ground-handling company ordered into liquidation in February 2025, which had collected cargo and service payments from customers for Amerijet International Airlines and Caribbean Airlines Limited. The company’s standard practice involved deducting commissions before remitting balances to the airlines. When liquidation proceedings began, the court-appointed liquidator sought judicial clarification regarding whether these collected funds should be distributed among creditors or returned to the airlines.

    Justice Williams’ analysis focused on the fundamental question of whether CAS exercised discretionary control over the funds. After examining contractual agreements and operational practices, the court determined that CAS functioned merely as a financial intermediary without ownership rights. The company was obligated to account to the airlines after reconciliation and could only retain predetermined commissions and charges.

    The judgment emphasized that the absence of formal trust account segregation did not alter the funds’ legal character, as evidence demonstrated CAS lacked authority to utilize the money for corporate purposes beyond agreed deductions. Consequently, the court declared the funds were held in trust and must be repaid to both airlines once final amounts are mutually agreed upon or judicially determined.

    The ruling establishes a 30-day window for parties to reach agreement on exact sums, during which disputed amounts will remain in a separate account pending judicial resolution if necessary. Notably, the court issued no order regarding costs, acknowledging the liquidator’s appropriate conduct in seeking guidance on this complex matter of commercial law.

  • Nawasa Vacancy: Human Resource Manager

    Nawasa Vacancy: Human Resource Manager

    Grenada’s National Water and Sewerage Authority (Nawasa) has announced a strategic recruitment initiative for an accomplished Human Resource Manager to spearhead its comprehensive institutional modernization program. This pivotal leadership position represents a cornerstone in the statutory body’s ambitious transformation agenda focusing on climate resilience, operational excellence, and customer-centric service delivery.

    The successful candidate will assume critical responsibility for shaping Nawasa’s human capital strategy, driving organizational performance through innovative people-management practices. This executive role demands sophisticated leadership capabilities alongside modern technical expertise across the full spectrum of HR services. The authority specifically seeks professionals passionate about public service transformation and organizational development within Grenada’s essential utilities sector.

    Qualification requirements include a Bachelor’s degree in Human Resources, Business Administration, or related field, complemented by minimum five years of management experience. The position mandates extensive knowledge of Grenadian labor legislation and proven competence in managing unionized environments, including collective bargaining processes and grievance resolution mechanisms.

    The HR Manager will champion several strategic priorities including advanced HR analytics implementation, occupational health and safety programs tailored to utility staff, leadership development initiatives for technical personnel, and Board-level advisory functions. The role necessitates exceptional stakeholder engagement capabilities with government ministries, regulators, and regional partners.

    Nawasa emphasizes its commitment to employee development through competitive remuneration, professional growth opportunities, and organizational support for innovative HR programs. Applications featuring comprehensive CVs with professional references must be submitted via email or postal service to the General Manager by February 20, 2026. This recruitment underscores Nawasa’s dedication to strengthening Grenada’s water security through strategic human capital investment.

  • Goud staat op het punt nieuwe records te bereiken nu kopers terugkeren

    Goud staat op het punt nieuwe records te bereiken nu kopers terugkeren

    Gold markets are experiencing a dramatic resurgence as investor demand and central bank acquisitions propel the precious metal toward unprecedented valuations. Following a significant two-session decline that attracted bargain hunters, analysts project gold will reach new record levels while silver maintains its volatile trajectory.

    The precious metal recorded its most substantial single-day gain since 2008 on Tuesday, rebounding from a substantial sell-off triggered by President Donald Trump’s appointment of Kevin Warsh as Federal Reserve chair, dollar strengthening, and profit-taking activities. This recovery demonstrates the underlying strength of gold’s market position despite temporary fluctuations.

    Market strategists point to persistent inflationary pressures exceeding target levels, escalating debt concerns, and growing investor preference for portfolio diversification beyond traditional stocks, bonds, and fiat currencies. Bart Melek, Head of Commodity Strategy at TD Securities, emphasized that “inflation remains well above target, debt is increasing, and investors continue to view precious metals as a way to diversify their portfolio and reduce dependence on stocks, bonds, and fiat currencies.”

    Financial institutions have issued bullish projections, with UBS and JP Morgan anticipating gold prices reaching $6,200-$6,300 by year-end. Deutsche Bank maintains a 2026 estimate of $6,000, while Citi upheld its baseline scenario predicting an average first-quarter price of $5,000. Spot gold prices climbed 5.4% to $4,915 per troy ounce during morning trading.

    The physical market’s dynamics are now under intense scrutiny following gold and silver’s record peaks of $5,594.8 and $121.6 respectively on January 29th, before experiencing corrections. Gold’s 9.8% decline on Friday represented its most substantial single-day drop in 43 years according to LSEG data, which analysts characterize as a healthy market adjustment.

    Standard Chartered analyst Suki Cooper noted that “the physical market will be crucial in determining the bottom, particularly after Chinese New Year,” referencing the mid-February holiday period in the world’s largest consumer market. Investment demand, particularly from retail sectors, has emerged as the primary driver behind gold’s price surge as other traditional demand sectors—jewelry and central bank purchases—have stagnated.

    Philip Newman, Director at Metals Focus, cautioned that “we expect prices to remain volatile, even though conditions remain favorable for further significant price increases this year,” while acknowledging gold could surpass the $5,500 threshold.

    Silver exhibits even greater volatility due to its smaller market size, recently trading 9.3% higher at $86.8 after retreating from Thursday’s record high. The January rally was largely driven by momentum trading and substantial inflows from private investors. Analysts at Mitsubishi observe that silver has lost a key driver from last year’s gains as concerns about U.S. import tariffs following critical minerals revisions have diminished and London supply constraints have eased. However, the retreat from record levels benefits industrial applications by alleviating extreme margin pressure on solar energy producers.

  • Antigua & Barbuda Seek Applications for Canadian Agent Advisory Committee

    Antigua & Barbuda Seek Applications for Canadian Agent Advisory Committee

    In a strategic move to deepen its engagement with the North American market, the Antigua and Barbuda Tourism Authority (ABTA) has officially launched its Canadian Travel Agent Advisory Committee. The initiative is now actively seeking applications from top-tier Canadian travel advisors, agency proprietors, and consortia leadership until the February 15th deadline.

    Tameka Wharton, the Director of Tourism for Canada at ABTA, emphasized the indispensable role Canadian advisors play in curating traveler experiences to the dual-island nation. “Canadian travel advisors are pivotal architects in defining how explorers encounter the unique offerings of Antigua and Barbuda,” Wharton stated. She further elaborated that the committee is designed to provide these industry experts with a direct platform for collaboration, enabling a symbiotic partnership that leverages their profound market insights. This, in turn, is expected to guide the destination’s growth with data-driven and culturally resonant strategies, ensuring its development is both sustainable and aligned with traveler expectations.

    This membership-based committee is exclusive and will be curated through a selective application process. The ABTA has streamlined the procedure by directing all interested and qualified professionals to complete a dedicated online application form available on its official channels. This formalized approach signifies a shift towards more structured and influential dialogue between the destination marketing organization and the retail travel sector, which is often the primary touchpoint for potential visitors.

  • Tribute to the Life and Legacy of Dr. William Warren Smith, CD

    Tribute to the Life and Legacy of Dr. William Warren Smith, CD

    The Caribbean development community mourns the profound loss of Dr. William Warren Smith, whose visionary leadership as President of the Caribbean Development Bank (CDB) reshaped regional economic resilience. The Organisation of Eastern Caribbean States (OECS) joined global partners in honoring the legacy of this transformative figure who steered the region through unprecedented challenges.

    During his tenure as the CDB’s fifth President, Dr. Smith navigated multiple crises including the lingering effects of the 2008 financial collapse, devastating 2017 hurricanes, and the COVID-19 pandemic. His strategic approach transformed the institution into a bastion of stability and innovation, embedding climate adaptation and sustainable infrastructure as core principles long before these concepts gained global prominence.

    Among his landmark achievements, Dr. Smith orchestrated the approval of over US$3 billion in regional financing, with significant grant allocations directed toward the most vulnerable nations. He fundamentally strengthened the Bank’s institutional framework through establishing the Office of Risk Management and the Office of Integrity, Compliance and Accountability, enhancing both governance standards and international credibility.

    Dr. Smith’s diplomatic acumen facilitated the historic expansion of CDB membership to include Brazil and Suriname, substantially broadening the institution’s resource base and hemispheric influence. His particular dedication to the Eastern Caribbean Currency Union manifested in groundbreaking initiatives including the development of geothermal energy potential and the securing of a critical $50 million COVID-19 Line of Credit for OECS members during the pandemic’s most severe phase.

    Beyond his technical accomplishments, Dr. Smith will be remembered as a mentor and principled leader who demanded excellence in service to Caribbean citizens. His profound understanding of Small Island Developing States’ unique vulnerabilities informed every policy decision and strategic direction.

    The OECS Commission and member states extended deepest condolences to his family, noting that his physical legacy endures in strengthened infrastructure, protected communities, and a fortified regional spirit that will continue inspiring future generations of Caribbean leadership.

  • MCP heropent winkel en breidt assortiment verder uit

    MCP heropent winkel en breidt assortiment verder uit

    In a significant move marking its 65th anniversary, Suriname’s state-owned dairy enterprise Melkcentrale N.V. (MCP) has officially reopened its flagship store on Van Idsingastraat, signaling a new chapter of modernization and territorial expansion. The reopening ceremony, presided over by Director Monché Atompai, represents the company’s strategic pivot toward product innovation and operational growth.

    The newly revitalized store, previously operated by third-party tenants, has been brought back under MCP’s direct management. Customers can now access the complete range of MCP products, including offerings from subsidiary companies MCP Agro (fruit products) and MCP Aqua (bottled drinking water).

    Beginning February 9th, MCP will introduce new product lines developed through collaborations with local fruit farmers. The company is concurrently engaging with the Ministry of Regional Development to integrate interior region farmers into its supply chain, promoting inclusive economic participation.

    Enhancing customer convenience, MCP has implemented telephone and digital ordering systems allowing consumers to place orders for subsequent pickup. This modernization effort aligns with the company’s broader service improvement initiatives.

    Looking toward future growth, Director Atompai revealed ambitious expansion plans targeting multiple districts including Nickerie, Marowijne, and interior regions such as Tapanahony and Atjoni. These developments represent both financial and geographical scaling for the state enterprise.

    The comprehensive revitalization strategy underscores MCP’s commitment to local production enhancement, sustainable growth, and improved societal service delivery through modernized retail operations and expanded territorial presence.

  • Espat Rejects Claims BTL Merger Isn’t Monopoly

    Espat Rejects Claims BTL Merger Isn’t Monopoly

    A significant divergence of perspectives has emerged within Belize’s Cabinet regarding the proposed merger between telecommunications giants BTL and Speednet. Minister of Infrastructure Development and Housing Julius Espat has publicly challenged assertions from his cabinet colleague that the consolidation would not establish a monopoly.

    Public Utilities Minister Michel Chebat recently contended that with over twenty internet service providers operating nationally, the merger would not create monopolistic conditions. Espat has firmly rejected this interpretation, presenting a contrasting analysis focused on local market dynamics.

    ‘Locally yes, you can’t run away from that concept,’ Espat stated, addressing the fundamental disagreement. ‘You are arguing about two separate things. On the international level you won’t have a monopoly. But at a local level you do.’

    The Infrastructure Minister elaborated on consumer concerns, acknowledging legitimate fears that government-dominated telecommunications could potentially target critics. He emphasized the necessity of protective legislation should the merger proceed, while maintaining that competition ultimately serves consumer interests best.

    Espat highlighted the critical importance of consumer choice: ‘If BTL gave me bad service but if the price alright I will consider to go to the guy that gave me a better service. You have an option. With what is happening, you won’t have an option. And I believe that option is always a good thing.’

    Despite characterizing his position as ‘just a personal opinion,’ Espat stressed the value of comprehensive consultation, noting that while BTL representatives are ‘convinced that it is the best thing since toast bread,’ external stakeholders remain apprehensive about the proposed changes.

    The minister concluded that meaningful public dialogue remains essential before any final determination is made regarding the controversial telecommunications merger.

  • NTUCB Slams ‘Silence’ on Speednet Deal

    NTUCB Slams ‘Silence’ on Speednet Deal

    BELIZE CITY – A significant confrontation is brewing between Belize’s labor movement and government institutions over a controversial telecommunications acquisition. The National Trade Union Congress of Belize (NTUCB) has issued a strongly worded condemnation of the proposed Speednet purchase, accusing the Social Security Board (SSB) of maintaining a “deafening silence” regarding the transaction’s details.

    The labor organization asserts that the SSB, which already maintains a substantial 34% stake in Belize Telemedia Limited (BTL), bears direct legal responsibility for safeguarding worker contributions. Despite this fiduciary duty, the NTUCB claims the Board has failed to provide adequate disclosure or engage in meaningful consultation with the contributors whose funds are potentially at risk.

    While stopping short of formally demanding resignations, the union’s statement reflects growing internal pressure for SSB Board Chairman Chandra Nisbet-Cansino to step down. Critics within the labor movement have particularly questioned her recent resignation from BTL’s Board of Directors ahead of a crucial meeting concerning the acquisition, characterizing the move as an abdication of responsibility during a pivotal moment.

    The NTUCB has now issued a formal demand for the SSB to publicly oppose the Speednet acquisition until comprehensive due diligence is completed and contributor concerns are thoroughly addressed. The brewing controversy has garnered additional support, with the Belize Communications Workers for Justice announcing their participation in planned demonstrations.

    The United Democratic Party has aligned with labor groups in organizing protests scheduled for Wednesday outside the SSB headquarters. Political observers suggest that the four social partner senators may use this platform to articulate a forceful public position on the escalating dispute.

  • Trade organizations deny chicken and eggs shortage

    Trade organizations deny chicken and eggs shortage

    SANTO DOMINGO – Key retail trade organizations in the Dominican Republic have publicly endorsed Agriculture Minister Francisco Oliverio Espaillat, refuting circulating allegations about shortages and unjustified price surges in chicken and egg products. The unified stance emerged from a high-level meeting convened on Monday, as detailed in an official release from the Ministry of Agriculture.

    Retail representatives confirmed that market supplies of poultry and eggs have now stabilized, attributing this balance to strategic interventions deployed by the current government. They emphasized that availability has normalized across distribution channels, contradicting widespread rumors of scarcity.

    Apolinar Leyba Jr., a prominent voice in the retail sector, issued a stark warning against what he described as disinformation campaigns. He asserted that certain interest groups are deliberately propagating false narratives of product shortages to engineer artificial market distortions and undermine price stability for their own benefit.

    In a show of sector-wide solidarity, Ricardo Rosario, who heads the National Central Union of Unified Retailers, reiterated the industry’s dedication to collaborative engagement with the Ministry of Agriculture. This partnership aims to safeguard the consistent supply and equitable pricing of essential food commodities for consumers. The meeting drew participation from multiple federations representing retailers and merchants, all pledging ongoing cooperation to preserve market equilibrium and prevent speculative practices.