分类: business

  • Caribbean Airlines says no eviction underway at Hope Road office

    Caribbean Airlines says no eviction underway at Hope Road office

    PORT-OF-SPAIN, Trinidad — Caribbean Airlines has formally addressed circulating media reports regarding its Kingston, Jamaica office location, explicitly stating that no eviction process is occurring. The airline characterized recent speculation as inaccurate, clarifying that the upcoming move from its Hope Road office is a strategic decision timed with the natural expiration of its current lease agreement.

    In an official statement released Friday, the airline detailed its transparent and continuous dialogue with the property landlord, emphasizing that such communication is standard corporate practice. The relocation is being executed as a carefully managed transition to guarantee uninterrupted business operations and maintain full service delivery for its clientele.

    The company moved to reassure passengers and stakeholders that all flight operations, customer service, and administrative functions continue without disruption or inconvenience. The relocation strategy is designed to be seamless, ensuring no degradation in service quality or operational efficiency.

    Reaffirming its commitment to customer satisfaction, Caribbean Airlines stated its primary focus remains on delivering a reliable and high-quality travel experience. This proactive approach to addressing the rumors underscores the airline’s dedication to operational transparency and maintaining public trust.

  • Blue Wave Harmony arrives to service seabridge

    Blue Wave Harmony arrives to service seabridge

    PORT OF SPAIN, TRINIDAD AND TOBAGO – The MV Blue Wave Harmony, the newly designated replacement for the Cabo Star on the critical inter-island seabridge, made its inaugural arrival at the Port of Port of Spain on January 22. This strategic introduction marks a significant infrastructure upgrade for the nation’s maritime transport network.

    The state-of-the-art roll-on/roll-off (ro-ro) vessel represents a substantial advancement in both cargo and passenger capabilities. It features significantly increased cargo capacity, state-of-the-art refrigerated storage facilities for perishable goods, and markedly improved passenger accommodations. These include private cabins and enhanced onboard amenities, aiming to transform the travel experience between the islands.

    From an operational perspective, the Blue Wave Harmony incorporates upgraded mechanical systems and built-in redundancies specifically engineered to minimize mechanical failures and reduce downtime. This addresses a persistent challenge that has long plagued freight operators and travelers reliant on the seabridge’s consistency.

    The business community in Tobago has responded with cautious optimism. Curtis Williams, Chairman of the Tobago Division of the TT Chamber of Industry and Commerce, characterized the vessel’s arrival as “a positive and timely development.” He emphasized to Newsday that reliable sea transport is absolutely critical for numerous sectors, including distribution, food and beverage, hardware, construction, and retail, all of which depend on the seabridge to maintain inventory and manage supply chains.

    However, the transition has not been without its critics. Martin George, Head of the Tobago Business Chamber, expressed significant concerns regarding a lack of transparency. He highlighted that essential operational details—such as the vessel’s exact capacity, scheduled sailing times, number of weekly sailings, and associated costs—have not been adequately communicated to the public or the business community. George pointed to the prior efficiency of the Cabo Star and stressed the necessity for clarity on the leasing costs and operational framework of its replacement to ensure the new service meets the islands’ economic needs.

  • High Court appoints liquidator, Newsday’s 32-year run nears end

    High Court appoints liquidator, Newsday’s 32-year run nears end

    In a landmark ruling that marks the end of an era for Trinidad and Tobago’s media landscape, the High Court has officially ordered the liquidation of Daily News Ltd, parent company of the Newsday newspaper, after 32 years of operation. Justice Marissa Robertson granted the winding-up petition on January 23, effectively terminating the publication’s print operations that began in September 1993.

    The court appointed Maria Daniel, a chartered financial analyst and partner at Ernst & Young Services Ltd, as liquidator tasked with assuming control of the company’s assets and managing debt repayment to outstanding creditors. The application faced no objections following its official publication in the Gazette on January 15.

    Legal representatives for Daily News Ltd, including attorneys Gregory Pantin and Miguel Vasquez of Hamel-Smith and Company, presented arguments highlighting the company’s insolvency and inability to meet financial obligations. Pantin specifically advocated against provisional liquidation, emphasizing the need for immediate commencement of the winding-up process to minimize additional risks.

    The petition cited Section 355(a) of the Companies Act as legal grounds for dissolution, stating shareholders deemed court-supervised liquidation “desirable and in the best interests of the company” given its unsustainable financial position.

    While Newsday published its final print edition on January 9, its digital operations continue pending the liquidator’s assessment of their viability during the proceedings. The hearing also addressed concerns regarding archival preservation, with interested party Brent Mark Bristol requesting formal safeguards for the newspaper’s historical records.

    Managing Director Grant Taylor previously characterized the closure as resulting from “a perfect storm of challenges” affecting print media globally. He cited multiple contributing factors including a 75% decline in print advertising revenue over the past decade, soaring production costs, changing reader preferences, and financial impacts from lengthy legal battles that left the company over $3 million out of pocket despite successful litigation outcomes.

    Taylor noted that even a minimal price increase from $2 to $3 prompted 40% of readership to abandon the publication, reflecting broader industry challenges in monetizing content. Despite the closure, Taylor expressed pride in Newsday’s legacy of “unwavering independence” and emphasized the critical role of media in maintaining democratic integrity.

  • 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.

  • Grace Foods ramps up support for farm relief and recovery post-Hurricane Melissa

    Grace Foods ramps up support for farm relief and recovery post-Hurricane Melissa

    KINGSTON, Jamaica — Grace Foods has launched a strategic humanitarian initiative in collaboration with the BREDS Treasure Beach Foundation to support Jamaican farmers devastated by Hurricane Melissa in October 2025. The company integrated donation mechanisms into its airport pop-up experiences at Donald Sangster International Airport (January 3) and Norman Manley International Airport (January 9), allowing travelers to contribute directly to agricultural recovery programs while experiencing authentic Jamaican flavors.

    The activation formed part of Grace Foods’ ‘Bring Jamaica Home’ campaign, designed to connect travelers with Jamaican culture through culinary experiences. Led by Grace chefs, the pop-ups featured dishes prepared with Grace Jamaican Honey Jerk Seasoning and other products, creating both a cultural immersion and fundraising opportunity.

    Sabrina Watson, Global Category Manager of Seasonings, Sauces and Spices at Grace Foods, emphasized the initiative’s dual purpose: ‘Hurricane Melissa left parts of our island devastated, and months later, many farming communities are still rebuilding. Through Grace Jamaican Jerk, we wanted to celebrate Jamaican flavor while giving travelers a tangible way to support the farmers who make those flavors possible.’

    The generated funds will specifically target agricultural recovery in St Elizabeth and surrounding communities, providing critical resources including seeds, irrigation support, and other essential inputs for replanting and livelihood restoration. This focus acknowledges that authentic Jamaican jerk cuisine depends on locally sourced ingredients and the farmers who produce them.

    Watson noted the natural alignment with BREDS Foundation, citing their deep community embeddedness and effective ground operations. The partnership extends Grace Foods’ existing relationships with St Elizabeth farming communities near its Hounslow processing facility, where key jerk ingredients like peppers, thyme, escallion, and onions are sourced.

    Traveler response demonstrated appreciation for the initiative’s tangible impact. Richard Ho-sing, a Jamaican traveler who participated, commented: ‘Grace is a brand we grew up with. Seeing them partner with a local foundation like BREDS to give back to farmers is a good look, not just for Grace, but for Jamaica. Farmers are the backbone of the food we love.’

    The initiative represents part of Grace Foods’ broader ‘We Care’ ethos, emphasizing community development, resilience building, and sustained support for local producers beyond crisis response.

  • ‘Pockets of The Bahamas set for best year in history’

    ‘Pockets of The Bahamas set for best year in history’

    Prominent Bahamian business leader Sir Franklyn Wilson has projected that selective regions within The Bahamas will witness unprecedented economic prosperity in 2026, while simultaneously addressing the persistent challenge of unequal wealth distribution across the archipelago. The chairman of Arawak Homes and Sunshine Holdings specifically highlighted south Eleuthera as a prime beneficiary, attributing its anticipated growth to major developments including the Jack’s Bay project which he chairs, Disney’s Lighthouse Point cruise port, and the Ritz-Carlton Reserve development led by Colombian billionaire Luis Carlos Sarmiento.

    Grand Bahama also emerged as another focal point in Wilson’s economic forecast, with ‘very significant developments’ anticipated in early 2026. These are expected to include resolutions concerning the Grand Lucayan property and Grand Bahama International Airport, alongside potential settlements in the $357 million arbitration dispute with the Grand Bahama Port Authority.

    Despite his optimistic regional projections, Sir Franklyn acknowledged the prevailing sentiment among many Bahamians who feel excluded from economic gains. He identified problematic personal financial behaviors—including excessive consumer debt accumulation and gambling expenditures—as significant barriers to individual economic advancement.

    The business magnate issued a compelling appeal to skilled Bahamians living abroad to reverse the brain drain by returning home. He emphasized that numerous opportunities exist within The Bahamas that may surpass their current overseas prospects, urging them to overcome any hesitation about returning and contribute their expertise to national development.

    Wilson cautioned that south Eleuthera’s rapid growth would inevitably create new challenges, including housing shortages and potential over-employment situations. He stressed that resolving longstanding land title issues would be crucial for addressing affordable housing needs in the developing region.

    Regarding national energy policies, Sir Franklyn indicated that meaningful impacts from renewable energy reforms and potential electricity price reductions would likely materialize in 2027 rather than 2026. His company, FOCOL Holdings, plays a significant role in these developments as New Providence’s baseload generation provider.

  • Kintyre weighs options for Bengal Beach development after securing full approvals

    Kintyre weighs options for Bengal Beach development after securing full approvals

    Jamaican investment firm Kintyre Holdings (JA) Limited has achieved a significant milestone with its premier residential project, The Chalet, located in Bengal Beach, Discovery Bay, St. Ann. The development has received comprehensive regulatory authorization from all necessary bodies, including the National Environment and Planning Agency (NEPA) and the St. Ann Municipal Corporation, clearing the path for construction commencement.

    Originally permitted in 2022 for an eight-unit complex, the project scope has been substantially expanded to 26 luxury residences following successful capital raising efforts. The newly approved design comprises 16 one-bedroom and 10 two-bedroom units, strategically positioned to leverage the site’s natural coastal advantages. The development promises exclusive beach access, sweeping ocean vistas, and premium amenities including a swimming pool, fitness center, and dedicated co-working spaces tailored for remote professionals.

    With complete infrastructure already in place, the project advances to its foundational phase. Kintyre estimates total development costs at approximately J$900 million (US$5.8 million). The company is currently evaluating two strategic options: an outright sale of the fully-approved project package including all documentation and permits, or forming a partnership to secure construction financing and oversee project delivery.

    Leadership changes accompany this development phase, with Tyrone Wilson assuming additional executive roles as Chairman and CEO of both Kintyre Holdings and Parallel Real Estate Ventures Limited, while also serving as chief investment officer to optimize capital allocation across the portfolio. Wilson emphasized real estate’s role as a foundational element for creating durable value and supporting Jamaica’s economic growth through world-class assets that meet both local and international standards.

    The company acknowledged contributions from architectural firm StudiOH Core, project manager Randy Mattis, and other key partners in achieving this regulatory milestone.