分类: business

  • NGC board needs lesson in economics

    NGC board needs lesson in economics

    A prominent voice from Princes Town has issued a stern warning regarding the National Gas Company of Trinidad and Tobago’s (NGC) recent decision to impose substantial increases in natural gas prices for local manufacturers. This strategic move, intended to boost NGC’s revenue streams, has raised significant concerns about its broader economic repercussions.

    The correspondence draws a direct parallel to a similar policy enacted by the previous PNM administration in 2016, which resulted in the permanent closure of the ArcelorMittal steel plant. That decision led to substantial job losses and a decline in foreign exchange earnings—consequences that now threaten to repeat themselves.

    This pricing shift directly contradicts the stated objectives of the Ministry of Trade Investment and Tourism, which has been actively promoting export growth, investment strengthening, and employment expansion. Instead of fostering these goals, the increased production costs will undermine local manufacturers’ competitiveness against subsidized imports in both domestic and international markets.

    The author points to global economic strategies for contrast: China has implemented export taxes on raw materials to stimulate domestic downstream production, while the United States employs tariffs to protect its manufacturing sector. Trinidad and Tobago appears to be moving in the opposite direction, inadvertently making foreign goods more competitive than locally produced items.

    Manufacturers are already grappling with rising electricity costs and National Insurance Scheme contributions. The natural gas price increase represents an additional burden that could diminish productivity, reduce employment opportunities, and decrease foreign exchange earnings—ultimately harming the nation’s economic stability and growth potential.

  • Ports under pressure as industry urges cargo owners to clear goods

    Ports under pressure as industry urges cargo owners to clear goods

    Jamaica’s maritime infrastructure continues to operate under severe pressure as unprecedented volumes of unclaimed shipments overwhelm port facilities and storage warehouses nationwide. The Shipping Association of Jamaica has issued urgent appeals to importers and cargo owners to expedite the collection of goods that have already been processed for release.

    Industry leaders report that operational challenges have persisted well beyond the typical holiday season congestion period. Corah Ann Robertson-Sylvester, President of the Shipping Association of Jamaica, emphasized the escalating nature of the crisis: “The accumulation of uncollected cargo creates compounding logistical complications. All maritime institutions, including government agencies, are implementing coordinated measures to address this situation, with some facilities extending operating hours to facilitate clearance.”

    The current gridlock stems from a perfect storm of operational disruptions. Hurricane Melissa’s impact on western Jamaica in October significantly hampered port operations just as seasonal import volumes began rising. This convergence was further exacerbated by substantial inflows of international relief supplies and diaspora contributions following the hurricane.

    As an emergency response, authorities diverted some cargo traffic from Montego Bay to Kingston terminals. However, these alternative facilities are now operating substantially beyond their designed capacity. Additional complications have emerged from expired Unaccompanied Baggage Allowance documentation, commonly known as “yellow forms,” which has delayed clearance for both personal and relief shipments.

    Industry stakeholders emphasize that resolving the backlog is critical for maintaining Jamaica’s economic stability. Prompt cargo clearance would reduce substantial demurrage and storage fees for businesses, protect supply chains essential to the tourism and retail sectors, and prevent inflationary pressure on consumer prices.

    Authorities are urging all parties with outstanding shipments—including importers, family members, brokers, and registered charitable organizations—to immediately regularize documentation and collect their goods. The maritime association recommends contacting shipping agents or warehouse authorities directly to arrange expedited clearance.

  • Jamaica and TUI Group to explore expansion into Latin America and Eastern Europe

    Jamaica and TUI Group to explore expansion into Latin America and Eastern Europe

    KINGSTON, Jamaica — In a strategic move to diversify its tourism economy, Jamaica’s Minister of Tourism Edmund Bartlett has announced the initiation of high-level talks with global tourism giant TUI Group. The discussions, held during the FITUR tourism fair, focus on a comprehensive partnership to amplify Jamaica’s visibility and attractiveness within Latin America and Eastern Europe.

    Minister Bartlett emphasized that this collaboration is a cornerstone of Jamaica’s plan to build economic resilience by reducing its historical dependency on North American and Western European source markets. By leveraging TUI’s vast marketing infrastructure and operational expertise in emerging regions, Jamaica aims to secure a formidable presence in markets demonstrating a rapidly growing appetite for Caribbean travel.

    The proposed alliance will explore multifaceted initiatives, including enhancing air connectivity through new and expanded flight routes, developing culturally tailored vacation packages, and executing targeted marketing campaigns designed to resonate with Latin American and Eastern European travelers.

    This initiative is already gaining traction. Jamaica is currently witnessing a notable surge in arrivals from Latin America, complemented by strategic growth in European traffic fueled by new airlift from carriers like World2Fly from Portugal and Edelweiss from Switzerland. Current projections, based on escalating demand, indicate this growth trajectory is set to accelerate throughout the year.

    “This partnership with TUI is poised to be a transformative opportunity for Jamaica’s tourism sector,” stated Minister Bartlett. “We are future-proofing our industry through value-driven strategic partnerships. The global outpouring of support for the Jamaican brand provides a powerful foundation for this expansion.”

    The minister is currently leading a delegation at FITUR 2024, a premier global tourism forum featuring representatives from 156 countries and over 100,000 visitors, which serves as a key nexus for tourism professionals across Latin America’s inbound and outbound markets.

  • IDB says exports from Latin America and Caribbean increase last year

    IDB says exports from Latin America and Caribbean increase last year

    The Inter-American Development Bank (IDB) has released its latest trade analysis, revealing a significant upswing in export performance across Latin America and the Caribbean (LAC). According to the 2025 edition of the ‘Trade Trends Estimates for Latin America and the Caribbean’ report, the value of goods exported from the region grew by an estimated 6.4%, marking a notable improvement from the 4.7% increase recorded in 2024.

    This expansion was primarily fueled by a substantial rise in export volumes, with commodity prices playing only a marginal role. The report identifies a robust performance in the metals sector—particularly gold, copper, and silver—as a key driver. Concurrently, the agro-industrial sector demonstrated solid gains, with exports of coffee, cocoa, fruit, and meat posting significant increases. Several manufacturing segments also contributed to the growth, including data-processing machinery, medical supplies, vehicles, and plastics.

    Paolo Giordano, the IDB’s Principal Economist for the Productivity, Trade and Innovation Sector and the report’s coordinator, noted, ‘Despite the challenging global environment, Latin America and the Caribbean’s recent export performance has shown remarkable resilience.’ The analysis suggests the region may be entering a phase of sustained trade growth, albeit within a context of persistent global uncertainty and a risk balance that remains moderately tilted to the downside.

    Regional performance was uneven. South America and Mesoamerica saw an acceleration in export expansion, while Central America experienced strong growth that lost momentum in the latter half of the year. The Caribbean’s aggregate results, showing a moderation from 2024’s 41.2% surge to a 14.6% rise in 2025, masked pronounced volatility and significant disparities among individual nations. For instance:
    – Guyana’s growth slowed dramatically to 18.3% from 137.6%.
    – Suriname rebounded impressively to 70.4% from -40.2%.
    – Trinidad and Tobago saw growth increase to 5.6% from 3.5%.
    – Several nations, including Barbados, Belize, and Jamaica, remained in negative territory.

    Complementing the export surge, the region’s total imports also gained momentum, increasing by 6.1% in 2025, up from 3.2% in 2024, aligned with a rebound in domestic demand.

    The report highlighted volatile price movements for key export commodities. While coffee prices soared by 49.9% and gold by 42.2%, other critical commodities like oil and iron ore experienced significant declines of 14.3% and 7.8%, respectively.

    The IDB concludes that for the region to solidify this growth trajectory, countries must prioritize reforms and investments aimed at boosting productivity and reducing trade costs. Ensuring international trade remains a primary engine for economic growth will require sustained policy support for exports and investments.

  • Antigua Cruise Port to unveil new terminal this weekend

    Antigua Cruise Port to unveil new terminal this weekend

    Antigua and Barbuda is poised to enter a transformative phase in its cruise tourism sector with the official unveiling of its state-of-the-art cruise terminal scheduled for January 24, 2026. Antigua Cruise Port has announced preparations for the landmark reveal, which will showcase the culmination of a significant infrastructure project.

    The development represents a cornerstone of the broader Upland Development Project, a strategic collaboration between the Government of Antigua and Barbuda and Global Ports Holding, the world’s largest independent cruise port operator. This partnership underscores a mutual dedication to revolutionizing the island nation’s maritime facilities.

    Officials emphasize that the project was driven by a tripartite mission: to comprehensively modernize cruise infrastructure, elevate the overall passenger experience to world-class standards, and create lasting, sustainable economic advantages for local communities. The terminal’s design progressed through meticulous phases, evolving from initial conceptual frameworks into detailed architectural plans and final construction blueprints, all aimed at materializing a forward-looking vision for Antigua’s tourism economy.

    In the days preceding the grand opening ceremony, Antigua Cruise Port has committed to releasing a series of comprehensive updates. These communications are designed to chronicle the project’s extensive journey from its original conception through to its final completion, highlighting the milestones achieved and the anticipated impact on the nation’s tourism landscape.

  • Antigua And Barbuda Tourism Authority Hosts U.S. Travel Advisory Board

    Antigua And Barbuda Tourism Authority Hosts U.S. Travel Advisory Board

    The Antigua and Barbuda Tourism Authority (ABTA) recently concluded a strategic on-island retreat for its U.S. Travel Advisory Board, bringing together prominent travel advisors from key American markets. The immersive program combined destination experiences with high-level strategic discussions aimed at strengthening trade relationships and enhancing the islands’ tourism appeal.

    Led by Dean Fenton, U.S. Director for ABTA, the retreat served as the final on-island meeting for the current Advisory Board before new appointments in March. The carefully orchestrated agenda featured comprehensive site inspections at premier resorts including Blue Waters Resort & Spa and Hodges Bay Resort & Spa, where board members evaluated accommodation standards and held strategic planning sessions with ABTA leadership.

    The experiential component showcased Antigua and Barbuda’s diverse tourism offerings through curated culinary experiences at renowned establishments including The Palm, The Cove, and White Sands Restaurant. Participants enjoyed a sailing excursion aboard the Excellence Catamaran, explored St. John’s shopping district, visited Prickly Pear Island, and experienced beachfront dining at The Hut. The program concluded with a dinner at Mamma Mia, highlighting the islands’ vibrant culinary scene.

    Beyond commercial activities, the retreat incorporated community engagement initiatives including a beach clean-up at Jabberwock Beach and a donation of supplies to the Denis Bowers Rehabilitation Centre. Minister of Tourism, Civil Aviation, Transportation and Investment, The Honourable Charles Fernandez, personally met with the group, expressing appreciation for their support and participation in these responsible tourism efforts.

    The current Advisory Board comprises senior travel specialists representing luxury travel, destination weddings, honeymoons, and experiential travel, including representatives from Travel Smart with Paula, Bayside Travel, Romantics Travel, and several other prominent agencies. This initiative forms part of ABTA’s ongoing strategy to deepen industry partnerships and drive increased visitor bookings to the dual-island nation.

  • Venezuelan crude oil offloads at Caribbean hubs

    Venezuelan crude oil offloads at Caribbean hubs

    A significant realignment in global oil shipping is underway as tankers commence open discharge of Venezuelan crude at Caribbean hubs, signaling a dramatic shift in trade patterns following Washington’s intervention in Caracas’ petroleum industry. Over the weekend, approximately 2.5 million barrels of Merey heavy crude were delivered to storage facilities on Saint Lucia and Curaçao, transforming these islands into strategic staging posts for expanded global distribution.

    The market disruption is immediately evident in freight rates, which have surged on certain routes as previously obscured vessels—including members of the so-called ‘dark fleet’—now activate transponders during offloading operations. This transparency marks a departure from previous covert shipping practices.

    Detailed shipping movements confirm this new paradigm: The VLCC Kelly arrived at Castries, Saint Lucia on January 18 carrying 1.9 million barrels—the first Venezuelan crude shipment to the island since December 2018. Simultaneously, the Aframax tanker Volans discharged approximately 600,000 barrels at Curaçao’s Bullen Bay terminal on January 17, transporting cargo for commodities giant Vitol. Further confirming the trend, the VLCC Marbella reached South Riding Point in the Bahamas on January 19 with another 1.9 million-barrel Vitol consignment.

    The Biden administration has strategically engaged trading powerhouses Trafigura Group and Vitol Group to market Venezuelan barrels while encouraging US energy majors to invest in revitalizing the country’s distressed oil infrastructure. Buckeye Partners LP, operator of the Saint Lucia storage facility, confirmed its role in this recalibrated supply chain, emphasizing its commitment to ‘leveraging operational expertise and strategically positioned infrastructure to bring Venezuelan crude to market safely, responsibly, and in compliance with all applicable laws.’

    This geopolitical maneuver has fundamentally redirected Venezuela’s oil flow from predominantly China-bound shipments via shadowy tanker networks to diversified destinations including Indian refiners and US Gulf Coast facilities, establishing a new architecture for global heavy crude distribution.

  • Four Seasons Resort Nevis launches local Manager-In-Training program

    Four Seasons Resort Nevis launches local Manager-In-Training program

    Four Seasons Resort Nevis has inaugurated a groundbreaking Manager-in-Training (MIT) initiative, selecting seven exceptional employees for an intensive 18-month leadership development program commencing February 1, 2026. This strategic investment in local talent development underscores the resort’s commitment to cultivating future leaders who will perpetuate the organization’s legacy of excellence and community engagement.

    The comprehensive program identifies high-potential staff members across diverse departments: Kevin Raymond (Spa), Nykeisha Henry (People & Culture), Margaret Castro (Culinary), Michianna Austrie (Kids for All Seasons), Terrencia Nisbett (Food & Beverage), Tinari Chapman (Housekeeping), and Za’Miere Givace (Residences). These individuals were chosen based on their demonstrated embodiment of Four Seasons’ cultural values and service standards.

    General Manager Avi Phookan emphasized the program’s strategic significance during the resort’s 35th anniversary celebrations in the Federation of St. Kitts and Nevis. “This initiative represents our deliberate investment in professionals who already exemplify our organizational culture and operational standards,” Phookan stated. “By empowering local talent, we ensure our leadership legacy maintains authenticity, resilience, and deep roots within the community we serve.”

    The structured curriculum is designed to equip participants with advanced leadership capabilities, strategic decision-making competencies, and the confidence necessary to assume greater responsibilities. This developmental journey aims to simultaneously accelerate individual career progression while strengthening the resort’s competitive positioning as a Caribbean hospitality leader.

    This workforce development strategy reflects Four Seasons’ forward-looking approach to talent management, ensuring the preservation of service excellence through successive generations while promoting internal career advancement opportunities for Caribbean hospitality professionals.

  • Vissers  zetten in op bescherming zeeleven en behoud exportmarkten

    Vissers zetten in op bescherming zeeleven en behoud exportmarkten

    Suriname’s fishing industry is undergoing significant regulatory transformations with the mandatory implementation of acoustic deterrent devices, known as pingers, across fishing vessels. This initiative, spearheaded by the Suriname Fisherfolk Organization (SUNFO), aims to protect endangered marine species including sea turtles and dolphins from entanglement in fishing nets.

    The regulatory overhaul comes in response to recent trade restrictions imposed by the United States on specific fishing methods. To regain access to the American market while simultaneously securing continued export privileges to the European Union, Suriname has attached stringent environmental conditions to all fishing licenses effective 2026.

    Comprehensive conservation measures extend beyond acoustic devices to include reduced maximum net lengths, mandatory onboard documentation of protected species, and the installation of Vessel Monitoring Systems for enhanced maritime surveillance. The government has simultaneously intensified crackdowns on Illegal, Unreported, and Unregulated (IUU) fishing activities, with violations now carrying penalties including permanent license revocation.

    Industry representatives have pledged full cooperation with the new framework. SUNFO Secretary Mark Lall emphasized that collective compliance is essential for maintaining international market presence. Suriname currently ranks among few regional nations with near-global export privileges, attributed to its robust management systems and adherence to international hygiene standards.

    The fishing sector acknowledges marine resources as renewable assets that, under responsible stewardship, can sustain future generations. Sustainable fisheries management is now framed as a shared responsibility among fishers, government agencies, and international partners.

  • PM Backs Chebat, Says Stalled BTL Needs Merger to Survive

    PM Backs Chebat, Says Stalled BTL Needs Merger to Survive

    Belize’s Prime Minister John Briceño has issued a strong defense of his Public Utilities Minister Michel Chebat’s position regarding the proposed telecommunications merger involving Belize Telemedia Limited (BTL). The Prime Minister’s statements come following Tuesday’s Cabinet meeting where the controversial consolidation was discussed.

    Minister Chebat previously asserted that the market consolidation would not create a monopoly, highlighting the existence of approximately twenty-three broadband providers currently operating within Belize’s telecommunications landscape. Prime Minister Briceño expanded on this position with a stark warning about BTL’s financial trajectory.

    “Taxpayers invested almost seven hundred million dollars in BTL,” stated Briceño, “and if they do not make changes it is going to crash.” The Prime Minister revealed concerning internal projections showing the company’s growth flatlining for the next five years without consolidation, while operational costs continue to escalate.

    The government maintains that the proposed merger with Smart is fundamentally about creating operational efficiencies rather than market domination. Briceño emphasized that broadband services remain accessible through numerous competitors, contradicting monopoly concerns raised by critics.

    In response to questions about regulatory oversight, the Prime Minister confirmed plans to strengthen the Public Utilities Commission’s role and amend existing legislation where necessary. However, he reiterated that the primary objective remains preventing the collapse of a significant public investment and protecting stakeholders including Social Security and Belizean taxpayers.

    The administration’s unified stance signals a determined approach to telecommunications reform, framing the merger as an economic imperative rather than merely a market restructuring exercise.