Carib Scope

分类： business

  • UTC celebrates Calypso fund maturity

    UTC celebrates Calypso fund maturity

    The Unit Trust Corporation (UTC) is celebrating the impending maturity of its Calypso Macro Index Fund (CMIF), set for November 30, marking a significant achievement for the organization. Executive Director Nigel Edwards, in a statement on November 24, described the event as ‘a landmark moment for the UTC,’ highlighting the fund’s success in delivering robust returns to its 2,025 unitholders since its inception in 2016.

    The Calypso Fund was designed to offer local investors access to a diversified portfolio of local equities and international energy stocks, capitalizing on key economic drivers. Its performance has been stellar, growing from an initial value of $500 million to $569.42 million by 2024, representing a 13.9% increase. Over the past decade, the fund has distributed approximately $128 million in dividends, with per-unit payouts rising by 5%, from 80 cents in 2023 to 84 cents in 2024.

    Edwards emphasized that the fund’s success underscores UTC’s commitment to democratizing investment and delivering tangible value to its stakeholders. ‘The Calypso Fund’s performance serves as a testament to both our strategic foresight and the efficacy of our stewardship,’ he said.

    The fund’s maturity aligns with UTC’s overall strong financial performance in 2024, which saw total investment income reach $1.045 billion, with distributions to unitholders increasing by over 60%. Looking ahead, UTC has assured its investors of a seamless transition and continued access to innovative, growth-oriented investment solutions.

  • Royalton commits to Jamaica as resorts target 2026 reopening

    Royalton commits to Jamaica as resorts target 2026 reopening

    KINGSTON, Jamaica — Royalton Hotels & Resorts has unveiled updated reopening timelines for its Jamaican properties, signaling a phased recovery in the aftermath of Hurricane Melissa. Royalton Negril, Royalton Hideaway Negril, and Grand Lido Negril are now slated to welcome guests on August 25, 2026. The reopening dates for Royalton Blue Waters and Royalton Hideaway Blue Waters remain under review, pending further evaluations.

    The company has reaffirmed its dedication to Jamaica, emphasizing its ongoing support for employees and local communities. In the immediate aftermath of the hurricane, Royalton implemented a comprehensive relief program, providing clean water, temporary housing, financial aid, and food supplies to affected staff. These welfare initiatives continue to be a cornerstone of the company’s recovery efforts.

    To ensure the resorts’ restoration, a dedicated team of over 200 workers will remain on-site throughout the reconstruction phase. Additionally, other managerial and operational staff have been temporarily reassigned to Royalton properties across the Caribbean, safeguarding employment and facilitating ongoing training.

    Daniel Lozano, senior vice president of operations, underscored the company’s commitment: ‘Our dedication to Jamaica remains steadfast. We are fully invested in supporting our teams and communities as we navigate the path to complete recovery.’

    The announcement highlights Royalton’s resilience and long-term vision, as it balances operational recovery with sustained support for its workforce and the broader Jamaican community.

  • RIU says it will reopen all Jamaica hotels before year-end

    RIU says it will reopen all Jamaica hotels before year-end

    In the wake of Hurricane Melissa, which struck Jamaica on October 28, international hotel chain RIU has taken a proactive role in the recovery of the island’s tourism sector. With its hotels already prepared to resume operations, RIU has prioritized both employee welfare and community support as part of its comprehensive recovery strategy.

  • Jobless numbers fall: Rate down to 9.3% as nearly 4,000 find work

    Jobless numbers fall: Rate down to 9.3% as nearly 4,000 find work

    The Bahamas has witnessed a notable decline in its unemployment rate, which fell to 9.3 percent in the second quarter of 2025, as revealed by preliminary data from the Bahamas National Statistical Institute (BNSI). This marks a significant improvement from the first quarter’s 10.8 percent, driven by a surge in employment figures between April and June. Total employment rose to 218,620, an increase of 3,895 jobs, while the number of unemployed individuals dropped to 22,470, reflecting a reduction of 3,455. Both genders benefited from this positive trend, with male unemployment decreasing from 12,630 to 10,690 and female unemployment declining from 13,295 to 11,780. Youth unemployment also saw a slight improvement, falling to 20.3 percent, a 0.6 percentage point decrease from the previous quarter. The labour force expanded modestly to 241,090, with the participation rate climbing to 76.7 percent. Male participation rose to 80.7 percent, while female participation reached 72.4 percent. Key sectors such as construction, wholesale and retail, and community services experienced significant employment gains, with construction leading the way at a 17 percent increase. The number of discouraged workers, those who have stopped seeking employment due to perceived lack of opportunities, plummeted by 64 percent to 2,270. Educational qualifications among the workforce varied, with 27 percent reporting no formal examinations as their highest qualification, while 26 percent held a Bahamas General Certificate of Secondary Education.

  • China wereldleider elektrische voertuigen

    China wereldleider elektrische voertuigen

    China has solidified its position as the global leader in electric vehicle (EV) production and the associated supply chains. According to a report by the International Energy Agency (IEA), China manufactured approximately 12.4 million electric vehicles in 2024, accounting for over 70% of global production. Additionally, China dominates the battery production sector, with around 80% of all EV battery cells originating from Chinese factories.

  • The country has exported more than 291,000 pounds of larimar this year

    The country has exported more than 291,000 pounds of larimar this year

    The Dominican Republic has witnessed a remarkable surge in larimar exports, with figures skyrocketing from 85,480 pounds in 2024 to 291,340 pounds this year, as reported by Joel Santos Echavarría, the Minister of Energy and Mines. Santos emphasized the importance of integrating larimar into the nation’s tourism offerings, stating, “We are a tourist country, and larimar must be part of that Dominican tourist product.” He also underscored the stone’s protection under the International Registration of the Larimar Barahona Origin Designation and celebrated the establishment of the first Artisanal Mining Emergency Response Brigade as a significant milestone. These remarks were made during a promotional fair in Barahona province, marking National Larimar Day, where miners, artisans, designers, and brigade members were honored for their contributions to the mineral’s industrialization. Rolando Muñoz Mejía, the Mining Director at the Ministry of Energy and Mines, highlighted that approximately 950 workers are engaged daily in larimar extraction. However, the industry faces challenges, as voiced by miners and artisans. They pointed to the lack of financial resources, low market prices for raw and crafted larimar, and insufficient promotion as critical areas needing attention. Fernando González, a seasoned miner with over four decades of experience, noted that while a pound of larimar currently sells for RD$4,000 to RD$5,000, its unique value could command higher prices. Similarly, artisan Alexander Vargas called for increased promotion and financial support to enhance extraction methods and boost international awareness of larimar’s uniqueness.

  • Daypass tourist booking platform begins operations in the Dominican Republic

    Daypass tourist booking platform begins operations in the Dominican Republic

    Daypass, the premier digital platform for booking day-access experiences across Latin America and Spain, has officially launched operations in the Dominican Republic. This strategic expansion marks a significant milestone in the company’s mission to transform hospitality accessibility throughout the region.

    Within just two months of operation, the platform has demonstrated remarkable market traction, issuing over 1,000 day passes and establishing a diverse portfolio of more than 120 unique experiences across the country. The catalog continues to expand weekly, showcasing growing demand for flexible tourism options.

    The innovative platform serves as a digital bridge connecting consumers with premium hospitality venues including luxury resorts, spa facilities, and exclusive beach clubs. By eliminating the traditional requirement for overnight accommodation, Daypass enables both visitors and local residents to access amenities previously reserved exclusively for hotel guests.

    CEO and Co-founder Rafa Gómez expressed enthusiasm about the platform’s reception: ‘We are profoundly encouraged by the rapid adoption in the Dominican Republic. The trust from venue partners and strong booking activity from customers demonstrates genuine interest in diversified tourism experiences.’

    This business model represents a paradigm shift in tourism infrastructure utilization, allowing hotels and resorts to optimize their existing facilities while forging stronger connections with local communities. The expansion into key destinations including Punta Cana, Bayahibe, Puerto Plata, and Santo Domingo promotes more inclusive and flexible tourism options nationwide.

    For the Dominican Republic’s tourism sector, Daypass introduces multiple strategic benefits: strengthening domestic tourism during off-peak seasons, creating additional revenue streams for hospitality providers, and positioning the country as an innovative leader in regional tourism technology. The platform’s growth signifies evolving consumer preferences toward experience-based travel and more accessible luxury offerings.

  • Melkcentrale herstelt langzaam na miljoenenfraude

    Melkcentrale herstelt langzaam na miljoenenfraude

    The Milk Central, a state-owned enterprise, is on a path to recovery following a devastating financial fraud scandal that has caused an estimated loss of over SRD 350 million (approximately $350 million) over three years. The revelations came to light during a recent company meeting, where a new management team was appointed to steer the organization back to stability. The fraud case, uncovered six weeks ago, has led to the arrest of twelve individuals and a comprehensive restructuring of the company. The fraudulent activities were exposed through an internal investigation conducted by the Ministry of Agriculture, Livestock, and Fisheries (LVV), which subsequently filed a formal complaint. The Herman E. Gooding Police Bureau’s Criminal Investigation Unit is currently handling the case, with a recent visit to the company as part of the ongoing criminal probe. Among those detained are former director Dewkoemar Sitaram, Deputy Director of Administrative Services Dharma Hardayal, and Deputy Director of Operations Guillamo Marlan, all of whom have been dismissed for negligence, integrity violations, and harming the company’s interests. In response to the scandal, a new Board of Commissioners was established under the leadership of President-Commissioner Monché Atompai, who has successfully restored calm and stability within the organization. Employees have shown renewed motivation and readiness to work. Additionally, the company is making strides in reducing its debt burden, having negotiated payment arrangements with both national and international suppliers. To date, over 45% of local debts have been repaid. During the recent meeting, a new executive team was appointed, with Atompai taking on the role of General Director, Larissa Bardan as Director of Operations, and Ritshik Adelaar as Deputy Director of Administrative Services. The Board of Commissioners is now chaired by Anushka Sardjoe.

  • The woman behind RealTV – Zelisa’s vision, courage, will to rise

    The woman behind RealTV – Zelisa’s vision, courage, will to rise

    Zelisa Boodoosingh Rupani, the founder of ZM Network Ltd and the driving force behind RealTV and the acclaimed talk show ‘Conversations with Zelisa,’ has carved a remarkable path in the media industry. As the sole female media house owner in Trinidad and Tobago and the first woman of Indian descent to achieve this feat, Rupani’s journey is a testament to resilience and determination. Born in Santa Cruz and raised in a business-oriented family, she credits her parents and grandmother for instilling in her the values of hard work and perseverance. Her educational journey took her to the University of Sydney, where she pursued a degree in import-export management, followed by stints in the US and Canada before returning to Trinidad over two decades ago. A pivotal moment came when a short broadcasting course, encouraged by her sister, set her on an unexpected career trajectory. Starting with a midnight shift at Radio Shakti, Rupani quickly rose through the ranks, working with industry legends and honing her skills as a host and producer. Her career spans notable roles at Radio and TV Jaagriti, Government Information Services Ltd, and Synergy TV, among others. A scholarship to study mass communications in India further enriched her expertise. Despite personal tragedies, including the loss of her husband, Rupani emerged stronger, founding ZM Network and launching RealTV, which has grown into a multi-platform media powerhouse. Her show, ‘Conversations with Zelisa,’ is celebrated for its focus on inspiring real-life stories, respect, and empathy. Balancing her roles as a producer, presenter, businesswoman, and single mother, Rupani emphasizes discipline, faith, and time management. With plans to expand her media brand regionally and internationally, she remains committed to empowering others and imparting knowledge. Her message to aspiring entrepreneurs, especially women, is clear: persevere, set high standards, and never compromise on integrity.

  • Regional development banks launch debt-for-resilience initiative at COP30

    Regional development banks launch debt-for-resilience initiative at COP30

    In a landmark move to enhance disaster resilience and alleviate debt burdens, the Inter-American Development Bank (IDB), CAF – Development Bank of Latin America and the Caribbean, and the Caribbean Development Bank (CDB) have unveiled the Caribbean Multi-Guarantor Debt-for-Resilience Joint Initiative. Announced during COP30, this regional program aims to leverage guarantees from multilateral development banks (MDBs) and private sector partners to create fiscal space for Caribbean nations, enabling investments in resilience measures without escalating debt levels. The initiative focuses on three core objectives: scaling up debt-for-resilience swaps, strengthening coordination among MDBs, governments, and private sector partners, and improving transparency and monitoring standards to attract further investment. A dedicated facility under a Framework Agreement will be established to coordinate guarantors in debt-for-resilience swap transactions, ensuring alignment with national development priorities and sovereign debt management strategies. The initiative also plans to develop common principles for guarantee terms, shared taxonomies, and key performance indicators (KPIs) for resilience investments, aligned with global benchmarks. By simplifying multi-guarantor debt swaps, the program aims to attract new guarantors, reduce costs, and accelerate execution. Each transaction will include a regional public-goods component to bolster collective resilience across the Caribbean. The IDB, CAF, and CDB, with their extensive experience in sustainable development and regional integration, are well-positioned to drive this transformative initiative.