The World Bank has emphasized the potential for Latin America and the Caribbean (LAC) to overcome its persistent low-growth cycle by fostering entrepreneurship to drive job creation, enhance productivity, and accelerate innovation. In its latest report, titled ‘Latin America and the Caribbean Economic Review: Transformational Entrepreneurship for Jobs and Growth,’ the institution highlighted the region’s economic challenges, including stubborn inflation, rising debt, weak investment, and global uncertainty. These factors are projected to limit regional growth to 2.3% in 2025 and 2.6% in 2026, the slowest among global regions. Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean, stressed the need for governments to build on recent stability by accelerating reforms to improve the business climate, invest in infrastructure, and mobilize private capital. The report identifies external challenges such as declining global demand and commodity prices, which are expected to drop by 10% in 2025 and another 5% in 2026, impacting key sectors. Domestically, high inflation and public debt, with the debt-to-GDP ratio rising to 63.8% in 2024, further constrain economic activity. The report advocates for ‘transformational entrepreneurship’—high-growth firms that diffuse technology, create jobs, and boost productivity—as a catalyst for economic dynamism. William Maloney, World Bank Chief Economist for Latin America and the Caribbean, underscored the role of entrepreneurs in identifying opportunities and driving innovation. However, the region faces significant barriers, including limited access to finance, heavy regulation, skills gaps, and weak infrastructure. To address these challenges, the report proposes a three-point agenda: investing in human capital, supporting policy and regulatory reforms, and expanding access to finance. By implementing these reforms, the World Bank believes LAC can foster entrepreneurship, fuel innovation, and build more competitive economies.
分类: business
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DTS Swim expands with new location
KINGSTON, Jamaica — DTS Swim, a renowned luxury swimwear brand, marked a significant milestone in its 10-year journey with the grand opening of its new store at Shop 9, 18 Balmoral Avenue. The launch event, held on Saturday, was a vibrant celebration attended by loyal customers and industry insiders. Owner Daniela Stona officially inaugurated the space at 12:30 pm, emphasizing the brand’s evolution and growth. “This larger space reflects our expanding offerings and upcoming collections,” Stona remarked, highlighting the brand’s commitment to innovation and excellence. Known for its custom-made designs inspired by Jamaican culture, DTS Swim has garnered a loyal following with pieces like ‘Feva’ and ‘Unda Wata.’ Guests praised the brand’s inclusivity and aesthetic appeal, with Davia Findlator describing the event as “beautiful and girly.” Pia Vonique Haynes commended the brand’s dedication to catering to diverse body types, while makeup artist Sashawna Harris, who shares the new space with DTS Swim, expressed pride in the turnout and the collaborative vibe. The event featured Frontera Rosé wine and a selection of appetisers, offering guests a taste of luxury while browsing the latest collections. DTS Swim continues to champion local fashion, with model Regina Scarlett noting its unique contribution to Jamaica’s swimwear scene. The brand’s offerings are available online at dtsswim.com, with in-store pickup options at the new location.
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Sandals to begin designing new resort for St Vincent next year
KINGSTOWN, St Vincent — Sandals Resorts International (SRI) has unveiled plans to construct a $500 million Beaches resort in St Vincent, marking a significant milestone in the region’s tourism sector. The announcement was made by SRI CEO Adam Stewart during the signing of a multi-million dollar agreement with Prime Minister Dr. Ralph Gonsalves. The resort, slated to feature 500 bedrooms, is expected to commence design work in 2026 and will employ nearly 2,000 Vincentians at full capacity.
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WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
GENEVA, Switzerland — The World Trade Organization (WTO) announced on Tuesday that global merchandise trade growth in 2025 has been significantly bolstered by increased demand for AI-related goods and a surge in exports to the United States ahead of President Donald Trump’s tariff hikes. However, the organization cautioned that the outlook for 2026 appears grim as the full impact of these tariffs begins to take effect.
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National stakeholder engagement and mapping workshop
Grenada’s Hydrocarbons Technical Working Group (TWG) is set to organize a pivotal two-day Stakeholder Engagement and Mapping Workshop on October 8–9, 2025. This event aims to foster robust dialogue, collaboration, and active participation among diverse stakeholders to chart the course for Grenada’s energy future. The workshop will gather representatives from government ministries, agencies, industry professionals, and TWG’s technical experts, alongside other key players in the sector. Participants will engage in open discussions, exchange perspectives, and explore the opportunities and challenges associated with Grenada’s burgeoning hydrocarbon industry. The event will commence with a keynote address by Anthony Paul, a globally recognized oil and gas expert with over four decades of experience in operations, management, and leadership roles across the global oil and natural gas value chain. Paul’s expertise is expected to provide valuable insights to frame national discussions and guide informed decision-making. The workshop’s objectives include promoting transparency and inclusive dialogue, strengthening national capacity, guiding evidence-based policy and planning, and fostering collaboration among stakeholders for responsible and sustainable resource development. The Government of Grenada remains steadfast in its commitment to advancing responsible energy development that aligns with the best interests of the nation and its citizens.
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US Grand Jury indicts Azruddin Mohamed, Nazar “Shell” Mohamed for wire fraud, money laundering on gold exports, L:amborghini
A United States Grand Jury has formally charged Guyanese businessmen Azruddin Mohamed and his father, Nazar “Shell” Mohamed, with wire fraud, mail fraud, and conspiracy to commit money laundering. The charges stem from their alleged involvement in tax evasion related to gold exports and the importation of a Lamborghini luxury vehicle. The indictment, unsealed on October 6, 2025, reveals that the Mohameds face severe penalties, including up to 20 years imprisonment per count, supervised release, and substantial fines. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has already sanctioned the duo, complicating their legal and financial standing. The indictment further alleges that the Mohameds engaged in a sophisticated scheme to defraud the Guyanese government by reusing official seals and falsifying documentation to avoid paying taxes and royalties on gold shipments. Additionally, they are accused of bribing Guyanese customs officials to facilitate these illegal activities. The case also highlights the importation of a Lamborghini, valued at approximately $680,000, for which the Mohameds allegedly falsified invoices to evade over $1 million in taxes. The U.S. is seeking forfeiture of assets linked to the alleged crimes, including $5.3 million in gold bars seized at Miami International Airport in 2024. The Mohameds, who recently gained political prominence in Guyana, now face a legal battle that could derail their careers and businesses.




