Pennywise Cosmetics Ltd, a leading health and beauty retail chain in the Caribbean, has been granted exclusive commercial rights to distribute the ZO Skin Health line of medical-grade skincare products in Trinidad and Tobago. This decision follows a resolution of a legal dispute between Pennywise and the Maraval-based Skin Health Institute (SHI), led by dermatologist Dr. Rachel Eckel. The SHI had previously obtained a High Court injunction in April 2024, preventing Pennywise from selling ZO Skin Health products in its ten local outlets, arguing that the products should only be sold under medical supervision. Pennywise contested the injunction, asserting that it had legally imported genuine products and offered them at competitive prices. After months of negotiations, both parties reached a settlement, allowing Pennywise to become the exclusive authorized retailer. Justice Joan Charles had initially ruled in favor of SHI, stating that Pennywise’s marketing practices created a false impression of an exclusive partnership with SHI, potentially misleading customers. Despite allegations of unfair competition and “passing off” by SHI, Eckel, and Dermedica Medical Ltd., Pennywise maintained its innocence, emphasizing its commitment to honest business practices. The settlement marks a significant milestone for Pennywise, reinforcing its position in the Caribbean’s health and beauty market. ZO Skin Health products, developed by renowned dermatologist Dr. Zein Obagi, are now set to reach a broader audience through Pennywise’s extensive retail network.
分类： business
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Moonilal: Energy ‘decline’ halted, oil output up 5.5%
Trinidad and Tobago’s Energy Minister, Dr. Roodal Moonilal, has announced a significant uptick in the nation’s oil and gas production, attributing the growth to renewed investor confidence and the return of ExxonMobil after a 22-year absence. Speaking at the American Chamber of Commerce TT’s Health, Safety, Security, and Environment (HSSE) Conference in Port of Spain on November 11, Moonilal revealed a 5.5% increase in oil output, rising from 52,357 barrels per day in April to 55,271 barrels per day in October. Natural gas production also saw a boost, climbing from 2.41 to 2.63 billion cubic feet per day between April and June. Moonilal emphasized that the new UNC administration’s aggressive policy interventions and expedited negotiations have revitalized exploration activities and restored investor trust. He highlighted ExxonMobil’s return as a pivotal moment, describing it as achieving ‘the gold standard for the pace of negotiations.’ The minister also noted the potential for over $20 billion in investment from ExxonMobil’s ultra-deepwater campaign in the Eastern Tobago Basin, targeting depths exceeding 2,000 metres. Despite these advancements, production levels remain below historical highs, with sustained growth dependent on new exploration projects, regulatory stability, and market conditions. Moonilal expressed optimism, stating, ‘We are bringing change with optimism and hope. And with that optimism will come results.’ Additionally, he mentioned progress in talks with Shell on the Manatee Plus project and securing a new U.S. licence to advance work on Venezuela’s Dragon gas field, despite recent tensions with Venezuelan President Nicolas Maduro.
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Guyana signs production sharing agreements with international oil and gas firms
In a significant development for Guyana’s energy sector, the government has inked a production sharing agreement for the shallow-water Block S4 offshore Guyana with a consortium of global energy giants, including QatarEnergy, TotalEnergies, and PETRONAS. The agreement, finalized on Tuesday, was awarded under the 2022 Guyana Licensing Round and underscores the nation’s commitment to responsibly harnessing its hydrocarbon resources while bolstering international confidence in its petroleum framework. Located 50 to 100 kilometers off the coast, Block S4 spans 1,788 square kilometers in water depths ranging from 30 to 100 meters. Exploration activities will adhere to both local regulations and international best practices, ensuring environmental protection and sustainable resource management. Natural Resources Minister Vickram Bharrat expressed enthusiasm for the partnership, highlighting the consortium’s investment as a testament to Guyana’s transparent and robust licensing framework. He emphasized the government’s dedication to sustainable development and equitable benefits for all Guyanese. The Ministry of Natural Resources reaffirmed its commitment to environmental stewardship, transparency, and local participation in all petroleum operations, signaling Guyana’s emergence as a responsible energy producer on the global stage.
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No disclosure on Mohameds’ alleged connections to Venezuela, Middle East
In a recent development at the Georgetown Magistrates’ Court, attorneys representing Nazar “Shell” Mohamed and Azruddin Mohamed revealed that no evidence linking their clients to Venezuela or the Middle East was disclosed by US-hired lawyers. This revelation came during a court session on November 10, 2025, where the Mohameds are contesting an extradition request from the United States. The US legal team had previously alleged that the Mohameds were involved in an international criminal enterprise with connections to high-ranking officials in Venezuela and extending through the US to the Middle East. However, Attorney-at-Law Roysdale Forde, part of the Mohameds’ defense team, stated that no such documents were provided. The Mohameds face an 11-count Grand Jury indictment in a Florida federal court, including charges of mail fraud, wire fraud, and money laundering related to their gold exports business. They are currently on GY$150,000 bail and are scheduled to return to court on November 24. Meanwhile, the Guyana Revenue Authority has dropped all income tax evasion charges against the Mohameds in light of the US extradition request. Outside the courthouse, a small group of supporters from the We Invest in Nationhood (WIN) political party gathered in solidarity with their leader, Azruddin Mohamed, though the turnout was significantly smaller compared to their previous court appearance on October 31.
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Grote belangstelling voor Real Estate Day van Hakrinbank
The Hakrinbank Real Estate Day, held on Saturday, transformed into a bustling marketplace, drawing an unexpectedly large crowd to the bank’s branch on Jagernath Lachmonstraat. The event, entirely focused on the buying and selling of homes and land, showcased the growing demand for property, particularly among younger individuals. Ravi Changoer, the brand manager, expressed his surprise, stating, ‘Honestly, it exceeded our expectations. It clearly demonstrates the significant need, especially among young people. Everyone wants to own a house or a plot of land.’ Fourteen exhibitors, primarily real estate companies, presented their offerings of plots, buildings, and homes. Contractors also showcased potential construction models, while bank representatives were present at each booth to provide information on financing options. Changoer noted that the overwhelming turnout was a pleasant surprise, as the event was organized with a relatively small venue in mind. ‘We invited fourteen companies and chose a modest location. It was successful, but we didn’t anticipate such a large crowd,’ he said. ‘The next edition will definitely need a larger venue. It’s evident that there’s a need for a one-stop location where people can gather all the information about homes and plots.’
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GYEITI civil society convenor says no conflict of interest though a gold miner; “I maintain my integrity at all times”- English
Dr. Ivor English, the newly appointed civil society convenor for the Guyana Extractive Industries Transparency Initiative (GYEITI), has firmly dismissed allegations of a conflict of interest due to his involvement in the mining sector. Speaking to Demerara Waves Online News on Sunday, Dr. English emphasized his commitment to integrity and objectivity, stating, ‘I have always been considered a kind of middle-ground objective person that will not allow myself to be involved in conflict of interest.’ While he acknowledged owning mining properties, he clarified that he has not been actively mining for several years due to adverse weather conditions that damaged his equipment. However, he did not rule out resuming operations in the future. Natural Resources Minister Vickram Bharrat supported Dr. English’s appointment, asserting that the convenor’s limited mining activities do not pose a conflict of interest. He highlighted that Dr. English has not engaged in active mining since acquiring his mining blocks in 2014 and has no current operations in gold, diamond, or sand mining. Dr. English, who also serves as Managing Director of E & E Mining Enterprises, expressed willingness to relinquish his mining interests if necessary, stating, ‘I can even walk away from that because my benefits are not significant.’ The GYEITI, affiliated with the Norway-based Extractive Industries Transparency Initiative (EITI), aims to combat corruption in Guyana’s extractive sectors, including oil, gas, mining, and forestry. Dr. English’s role as convenor does not grant him influence over the selection of civil society representatives for the multi-stakeholder group (MSG), as the process is governed by independent rules and guidelines. He is also barred from serving on the MSG itself. Dr. English reiterated his dedication to objectivity and integrity, stating, ‘I am a relatively small contented fish willing to contribute to national development and I maintain my integrity at all times.’ His appointment follows a transparent selection process, with the Natural Resources Ministry emphasizing his extensive civic and humanitarian contributions, including his long-standing role in the Guyana Conference of Seventh-day Adventists and Lions Clubs International. The ministry also noted that Dr. English holds no political affiliations, further underscoring his suitability for the role.
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Economy : Critical deficit of nearly US$400 million for Haiti’s recovery
The Haitian government, in partnership with key development organizations including the World Bank, the Inter-American Development Bank, the European Union, and the United Nations, has released an updated version of the Rapid Impact Assessment of the Crisis (RCIA) and its accompanying investment plan. This revision, necessitated by the evolving security landscape since the plan’s initial release in December 2024, aims to ensure the relevance and feasibility of Haiti’s recovery efforts. Originally valued at $1.6 billion, the updated plan now estimates a total funding requirement of $644 million for the period 2026–2027. However, with the national budget and existing donor commitments covering only about half of this amount, a critical funding gap of $364 million has emerged, threatening the implementation of priority recovery initiatives. This shortfall highlights the pressing need for enhanced donor coordination and innovative financing mechanisms to support Haiti’s transition to stability. Anne-Lucie Lefebvre, World Bank Country Manager for Haiti, emphasized the importance of aligning resources with critical priorities, stating that improved security conditions do not diminish the assessment’s relevance but rather reinforce its role in restoring basic services, infrastructure, and livelihoods in gang-liberated areas. The establishment of the Gang Suppression Force by the Security Council and the creation of the United Nations Support Office in Haiti are seen as pivotal steps toward restoring security and stability. Ariel Pino, Acting United Nations Resident Coordinator in Haiti, noted that these measures reflect a shared commitment to addressing Haiti’s multifaceted challenges. The RCIA and investment plan focus on the Port-au-Prince metropolitan region, prioritizing economic recovery, governance, infrastructure, social protection, and the rule of law. All proposed programs have been rigorously assessed for feasibility, considering physical access and operational capacity constraints. Additionally, the Crisis Recovery Framework (CRF) has been developed to streamline planning, coordination, and monitoring of recovery activities, ensuring transparent oversight of investments.
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Anya Ayoung-Chee Vibes and Thrives with AI
Anya Ayoung-Chee, the renowned Caribbean fashion designer and former Miss Trinidad and Tobago Universe, is advocating for the integration of artificial intelligence (AI) into small businesses across the region. Ayoung-Chee, who gained international fame after winning the 2011 season of Project Runway, believes AI can revolutionize the way Caribbean businesses operate, especially as the region shifts its focus from oil and gas to more sustainable sectors.
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Guyanese gov’t outlines new initiatives for increased rice production
The Guyana government has allocated more than GUY$7.2 billion (equivalent to approximately US$28.8 million) to support the rice industry this year. This substantial investment aims to mitigate the impact of declining global rice prices, enhance agricultural yields, and reduce production costs for local farmers. Agriculture Minister Zulfikar Mustapha highlighted these efforts during a recent engagement with rice farmers in Region Three, emphasizing the government’s commitment to sustaining the sector.
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Republic Financial Holdings reports $2.2b profit
Republic Financial Holdings Ltd (RFHL) has announced a remarkable financial performance for the fiscal year ending September 30, 2025. Under the leadership of Chairman Vincent A Pereira, the group achieved a profit attributable to equity holders of $2.2 billion, marking a 9.8% increase from the previous year’s $2 billion. This growth was driven by sustained loan expansion, effective risk management, and enhanced operational efficiency. Pereira highlighted the group’s ability to deliver record results despite a challenging global economic landscape, emphasizing strengthened balance sheets and deepened customer relationships. The board declared a final dividend of $3.85 per share, raising the total annual dividend to $6 per share, a 5.3% increase from 2024. With a share price of $106.62, the dividend yield stands at 5.63%, reflecting a total payout of $983 million. Pereira also underscored RFHL’s robust capital and liquidity positions across its 16 operating countries, enabling continued growth and innovation. Strategic priorities, including digital transformation, customer experience enhancement, and sustainability integration, were key drivers of success. Additionally, RFHL’s social investment programs supported community development, youth empowerment, and small business growth. Looking ahead, Pereira expressed confidence in navigating global uncertainties and seizing new opportunities, reaffirming the group’s commitment to delivering sustainable value to shareholders and fostering a culture of integrity and inclusion.