In a heated Senate debate on October 20, 2025, Belizean senators demanded clarity on Fortis Inc.’s decision to withdraw from the country’s energy sector and the potential ramifications for electricity costs and national energy independence. Union Senator Glenfield Dennison questioned the rationale behind Fortis, a seasoned power generation company, exiting the market while Belize, with limited expertise in the field, takes over. Dennison emphasized the critical role of water resources in hydroelectric power, urging a closer examination of the nation’s hydrological prospects. Church Senator Louis Wade echoed public concerns, highlighting Belize’s exorbitant electricity rates and stressing the need for affordable energy solutions. He acknowledged the symbolic significance of reclaiming control over Belize’s rivers but underscored the importance of tangible benefits for citizens. NGO Senator Janelle Chanona called for greater public awareness and a thorough cost-benefit analysis to assess the long-term impact of the acquisition. She noted that while electricity rates are perceived as high, a detailed tariff review is essential to determine future pricing. The senators’ inquiries reflect widespread unease about the transition and its potential to either alleviate or exacerbate Belize’s energy challenges.
分类： business
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VIDEO: PM Plans Minor Cabinet Reshuffle Later This Year
Prime Minister has announced plans for a minor cabinet reshuffle later this year. The reshuffle is expected to bring changes to key ministerial positions, though the specifics of the changes have not yet been disclosed. The announcement comes as part of the government’s ongoing efforts to optimize its administrative structure and address emerging challenges.
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Caribbean Development Bank fosters new agreement with OPEC Fund to cement sustainable goals in region
The Caribbean Development Bank (CDB) has solidified a landmark partnership with the OPEC Fund for International Development by signing a Memorandum of Understanding (MOU). This collaboration is designed to enhance financial opportunities and accelerate sustainable development across the Caribbean region. The agreement facilitates joint financing and co-financing initiatives in critical areas such as climate resilience, renewable energy, infrastructure, food security, trade financing, and youth development. It also underscores the importance of knowledge sharing, technical assistance, and capacity-building to empower Borrowing Member Countries (BMCs) with innovative solutions and expanded resources.
The MOU was formalized during a signing ceremony last week, coinciding with the International Monetary Fund-World Bank Annual Meetings in Washington D.C. CDB President Mr. Daniel Best emphasized the transformative potential of such strategic alliances. ‘Multilateral development banks must unite their expertise, resources, and priorities to address global challenges effectively and advance the Sustainable Development Goals. This partnership exemplifies the power of collaboration in creating lasting, positive change for the Caribbean,’ he stated.
The agreement outlines a framework for joint project development, technical assistance programs, and regional dialogues to promote inclusive and environmentally sustainable growth. Key focus areas include climate-smart agriculture, water security, digital connectivity, and private sector development, all aligned with CDB’s mission to enhance resilience and reduce poverty.
Mr. Best highlighted the partnership’s potential to unlock unprecedented opportunities for BMCs. ‘By combining the OPEC Fund’s global influence with CDB’s regional expertise, we can accelerate investments in infrastructure, climate adaptation, and human development. This will pave the way for a sustainable, inclusive, and prosperous future for the Caribbean,’ he added.
Additionally, the alliance is expected to bolster youth empowerment, vocational training, and innovative financial mechanisms such as debt-for-sustainability swaps and blue economy initiatives. These efforts will further cement the Caribbean’s leadership in climate resilience and sustainable development.
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Opposition Questions $256M Energy Deal: Can Belize Afford Fortis Buyout?
The Briceño Administration’s announcement of a $256 million deal to acquire Fortis’s operations in Belize has ignited a heated debate over the nation’s financial capacity to manage such a significant investment. The agreement includes Fortis’s 33% stake in Belize Electricity Limited (BEL), marking a pivotal step toward national energy control. However, the move has drawn sharp criticism from the opposition, led by Tracy Panton, who has raised serious concerns about the government’s ability to sustain the financial obligations tied to the deal. Panton highlighted recent costly repairs at key hydro facilities, including a $250,000 generator failure at the Chalillo Dam in December and additional repairs at the Mollejon Dam in June. She questioned whether Belize can afford the long-term financial burdens while ensuring reliable energy services. The deal, while ambitious, has left many questioning its feasibility and the potential impact on taxpayers.
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Entrepreneurs now have extra time to apply for Phillip Nassief Entrepreneurship Challenge and win up to $20,000
The GEMS Foundation has announced an extension of the application deadline for the 2025 Phillip Nassief Entrepreneurship Challenge, now set for December 8, 2025. This decision aims to provide more entrepreneurs across Dominica with the opportunity to participate, particularly during the busy Creole season, which sees many small businesses engaged in food, hospitality, culture, tourism, and entertainment. The Foundation emphasized its commitment to ensuring fair and accessible participation for all entrepreneurs after the festivities conclude. Supported by the Dominica Association of Industry and Commerce (DAIC), the competition honors the legacy of the late Phillip Nassief by fostering entrepreneurial spirit and innovation. The initiative focuses on empowering small enterprises in Dominica’s hospitality and tourism sectors, including food and beverage, agro-processing, wellness, technology, transportation, and marketing. Following the extended submission window, the judging process will conclude on January 28, 2026, with seven finalists advancing to the LIVE Ultimate Pitching Challenge on February 19, 2026. Finalists will receive mentorship from seasoned professionals to refine their business models and presentations. The top three winners will receive monetary awards: EC$20,000 for first place, EC$15,000 for second, and EC$10,000 for third, aimed at supporting business growth and sustainability. The GEMS Foundation encourages all applicants to review and complete their submissions by the new deadline. Further details and applications are available at www.gems.dm/foundation or via @gemsfoundation on social media.
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Transforming Tobago tourism
In a compelling appeal to Tobago’s tourism leaders, a concerned citizen has called for a transformative shift in the island’s tourism strategy. The current focus on luxury tourism, while beneficial in some aspects, risks creating economic exclusion and limiting opportunities for local communities. The author advocates for a more inclusive model termed ‘equal tourism,’ which aims to broaden participation and ensure that the benefits of tourism growth are shared equitably among citizens, small businesses, and communities. The proposal emphasizes the need for a balanced approach that prioritizes affordability, community engagement, and sustainable development. Key recommendations include reframing connectivity strategies, supporting mid-tier accommodations, expanding community-based tourism, and upgrading infrastructure. Additionally, the author stresses the importance of smarter marketing, stronger governance, and local empowerment to ensure Tobago’s tourism sector thrives in a way that benefits all stakeholders. The article highlights the success of similar strategies in other Caribbean nations and urges Tobago to embrace a model that reflects its unique identity and values. By fostering a tourism industry rooted in fairness and accessibility, Tobago can protect its natural beauty, cultural heritage, and community spirit while achieving long-term economic resilience.
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Netflix shares sink as quarterly profit misses mark
Netflix experienced a significant drop in its share price on Tuesday following the release of its quarterly earnings report, which revealed profits falling short of market expectations. The streaming giant reported a profit of $2.5 billion on revenue of $11.5 billion for the recently concluded quarter. However, the company faced a substantial $619 million expense due to an ongoing tax dispute with Brazilian authorities. Netflix CFO Spencer Neumann clarified that this expense was not an income tax but rather a cost associated with operating in Brazil, potentially affecting other companies as well. Neumann attributed the timing of this expense to a recent court ruling involving another company in Brazil. Consequently, Netflix shares plummeted over six percent in after-market trading, settling just below $1,163. Despite this setback, Netflix highlighted strong viewership in the UK and the US, driven by popular content such as ‘KPop Demon Hunters’ and the final season of ‘Stranger Things.’ The company also expressed optimism about its ad-supported membership tier, which saw its best sales quarter to date. Additionally, Netflix hinted at potential acquisitions, including Warner Brothers Discovery, as it continues to focus on organic growth and strategic opportunities.
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L’Oreal says interested in Armani stake
PARIS, France — In a bold move to expand its luxury portfolio, French cosmetics giant L’Oreal has expressed interest in acquiring a stake in the Italian fashion house Armani, even as it finalizes a landmark $4.6 billion deal to purchase Kering’s beauty division. The announcement comes just days after L’Oreal and Kering, the parent company of Gucci, revealed the acquisition, which includes exclusive licences for iconic brands such as Gucci, Bottega Veneta, and Balenciaga starting in 2028.
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Nutrien to shut down Trinidad nitrogen operations
Nutrien Ltd, a leading global crop-input producer based in Canada, has announced a controlled shutdown of its Trinidad Nitrogen operations at the Point Lisas Industrial Estate, effective October 23. The decision stems from ongoing port access restrictions imposed by Trinidad and Tobago’s National Energy Corporation (NEC) and persistent challenges in securing affordable and reliable natural gas supplies. These issues have significantly reduced the free cash flow contribution of the Trinidad operations over an extended period.
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KFTL invests in modernisation to strengthen port operations
KINGSTON, Jamaica — Kingston Freeport Terminal Limited (KFTL) is making significant strides in its modernization and expansion efforts with the acquisition of two cutting-edge ship-to-shore cranes, valued at nearly US$24 million. This strategic move underscores KFTL’s commitment to establishing Jamaica as a premier logistics hub in the Caribbean region.