Carib Scope

分类： business

  • Another Regional News Organisation Shuts Down

    Another Regional News Organisation Shuts Down

    The Caribbean media sector is experiencing significant transformation as established news organizations confront mounting operational challenges. This trend has manifested through recent closures and corporate consolidations across the region.

    In the Cayman Islands, independent digital publication IEyeNews ceased operations in January after nearly 14 years of service. Founder Colin Wilson attributed the shutdown to financial constraints, specifically the inability of hosting provider Rackspace Technology to extend further credit. Wilson expressed concern that the outlet’s extensive 14-year archive faces permanent deletion unless acquired by new ownership, with the entire operation offered for $15,000.

    Jamaica’s media landscape is undergoing parallel changes as Radio Jamaica Limited (RJL) received regulatory approval for comprehensive restructuring. The consolidation will merge Multimedia Jamaica Limited, Independent Radio Company Limited, Gleaner Online Limited, Reggae Entertainment Television Limited, and Jamaica News Network Limited under the RJL umbrella. Concurrently, the company requested temporary suspension of broadcast licenses for Power 106 FM and HITZ 92 FM to address transmission infrastructure damaged by Hurricane Melissa. RJL will prioritize strengthening coverage at its flagship stations Radio Jamaica 94FM and FAME 95FM while evaluating potential divestment of the suspended stations.

    This restructuring follows earlier regional media contractions, including telecommunications provider Digicel’s termination of its Loop News digital platform and SportsMax regional sports broadcaster. Guyana’s Stabroek News, established in the 1960s, announced it will halt print operations by March 15, 2026, characterizing the decision as profoundly difficult. These developments follow the recent closure of Trinidad and Tobago’s Newsday after 32 years of circulation.

    Industry analysts identify common pressures affecting Caribbean media viability, including escalating operational expenditures, diminishing advertising revenue, and intensified competition from global digital platforms like Google and Facebook.

  • Eastern Caribbean Home Mortgage Bank celebrates its 30th anniversary with line-up of events

    Eastern Caribbean Home Mortgage Bank celebrates its 30th anniversary with line-up of events

    ECHMB Capital, formally known as the Eastern Caribbean Home Mortgage Bank, is poised to commemorate its 30th anniversary on April 22, 2026. The institution has announced an extensive, year-long celebration under the theme “a proven history, a promising tomorrow,” designed to honor its legacy and chart its future course.

    Established in April 1996 through a multilateral agreement, the bank represents a unique collaboration between the governments of eight Eastern Caribbean nations: Dominica, Anguilla, Antigua and Barbuda, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. Additional ownership stakes are held by the Eastern Caribbean Central Bank and various regional financial entities.

    For three decades, ECHMB Capital has played a pivotal role in strengthening the secondary mortgage market throughout the Eastern Caribbean Currency Union (ECCU). Its core mission has centered on providing essential liquidity support to primary mortgage lenders while simultaneously driving the advancement of local money and capital markets.

    The anniversary festivities, scheduled to run from March 2026 through February 2027, will feature a diverse array of events and initiatives. The program will commence with a Media Launch and Mixer on March 20, 2026, bringing together journalists, key partners, and the ECHMB team to showcase institutional achievements.

    A commemorative church service is planned for April 19, 2026, offering employees, partners, and clients an opportunity for collective reflection on the bank’s community impact. In a forward-looking initiative, ECHMB will launch an App Design Competition for secondary school students across the ECCU, challenging young innovators to develop concepts for streamlined trading platforms.

    Starting July 2026, the bank will debut its “Home Ownership Series”—an educational collection of short videos featuring financial institutions, builders, and engineers explaining the sequential process of home construction in the region.

    The anniversary calendar will feature an October gala convening prominent regional stakeholders in an elegant celebration of institutional legacy. The year-long observance will conclude in February 2027 with a special lecture gathering industry experts, policymakers, and thought leaders to discuss future prospects for regional financial development.

  • Antigua and Barbuda Tourism Authority strengthens presence in Quebec, Ottawa markets

    Antigua and Barbuda Tourism Authority strengthens presence in Quebec, Ottawa markets

    The Antigua and Barbuda Tourism Authority has initiated a significant strategic expansion within key Canadian markets, specifically targeting Quebec and the national capital region of Ottawa. This calculated move is designed to substantially increase the twin-island nation’s visibility and appeal among Canadian travelers, a crucial demographic for the Caribbean tourism sector.

    This enhanced market presence involves a multi-faceted approach, incorporating targeted marketing campaigns, strengthened partnerships with Canadian travel trade operators, and a series of high-profile engagement events. The strategy is meticulously crafted to resonate with the unique cultural and linguistic nuances of Quebec, while simultaneously leveraging Ottawa’s status as a hub for both government and corporate travel.

    The initiative is a direct response to the robust recovery and growing demand in post-pandemic travel from Canada to warm-weather destinations. By deepening its roots in these specific urban centers, Antigua and Barbuda aims to position itself as a premier choice for discerning Canadian tourists seeking luxury, adventure, and distinct Caribbean experiences. The authority’s efforts underscore a commitment to not only recapture but also exceed pre-2020 visitor arrival numbers from this vital market, contributing significantly to the islands’ economic revitalization.

  • Republic Bank to close two southern branches, move into former Scotiabank Rockley

    Republic Bank to close two southern branches, move into former Scotiabank Rockley

    Republic Bank (Barbados) Limited has announced a strategic consolidation of its south coast operations, merging its Worthing and Wildey branches into a newly established facility at Coconut Walk in Rockley. The move, which utilizes the premises previously occupied by Scotiabank, is positioned by the bank as a strategic initiative to enhance operational efficiency while safeguarding customer service quality and preserving employment.

    Carlene Seudat, Managing Director and Chief Executive Officer, confirmed the operational timeline: the Worthing branch will cease operations at the end of this month, followed by the closure of the Wildey location on April 30. The new flagship branch at Coconut Walk is slated to open its doors on May 4, 2024.

    The consolidation will impact an estimated 15,000 customers previously served by the two closing branches. However, bank officials emphasize that full banking services will remain accessible across the institution’s entire network. Customers are being assured of a seamless transition with no changes to their account terms or conditions.

    To modernize the customer experience, the new branch will feature a significantly upgraded technological infrastructure. The design includes a more open, digitally-focused layout equipped with four Automated Teller Machines (ATMs)—three attached to the building and one drive-through facility. This expansion in self-service options contrasts with the planned removal of ATMs from the closing Worthing and Wildey locations.

    In addressing workforce concerns, Ms. Seudat provided explicit assurances that the operational merger would not result in staff redundancies. Through extensive engagement with both employees and union representatives that began last year, the bank has developed a redeployment strategy. All affected staff members from the closing branches will be absorbed into the new Rockley facility or transferred to the bank’s five other remaining branches across the island.

    The bank is concurrently encouraging customers to adopt its digital banking platforms and expanded ATM network, reflecting evolving consumer preferences toward remote banking solutions. This consolidation represents Republic Bank’s broader strategic shift toward modernized banking environments that prioritize digital accessibility and operational efficiency.

  • Geothermal in Nevis and solar in St. Kitts key to energy transition, minister says

    Geothermal in Nevis and solar in St. Kitts key to energy transition, minister says

    The Federation of St. Kitts and Nevis is making substantial strides in its renewable energy transformation, with significant developments in both geothermal and solar power infrastructure. Energy Minister Konris Maynard confirmed the nation’s progress during recent statements made at the 50th CARICOM Heads of Government Meeting in Basseterre.

    Central to the energy transition is the long-awaited geothermal project on Nevis. The Nevis Island Administration is poised to announce the selected contractor for drilling operations, which will involve five specialized wells—three for energy production and two for reinjection purposes. This geothermal initiative alone could generate approximately 30 megawatts of clean electricity, representing a substantial portion of the islands’ 40-megawatt baseline energy requirements.

    Concurrently, St. Kitts is advancing a major solar energy project. Authorities are preparing to issue a Request for Proposals for a 50-megawatt solar power plant complemented by a 35-megawatt energy storage system. The innovative project is planned for the Basseterre Valley Aquifer area, where solar panels can be installed without disrupting the protected environmental zone.

    Minister Maynard emphasized the government’s comprehensive strategy: “Our objective is to maximize the renewable resources available to our Federation—specifically our abundant solar and geothermal potential.” While acknowledging previous explorations into St. Kitts’ geothermal capabilities, the minister explained the current focus remains on Nevis due to its more advanced development readiness and previously conducted studies.

    The government’s coordinated approach demonstrates a committed transition toward sustainable energy independence, leveraging the unique geographical advantages of both islands within the Federation.

  • Abinader announces Playa Grande International Airport project

    Abinader announces Playa Grande International Airport project

    The Dominican Republic has unveiled a landmark infrastructure project that promises to transform its northern coastline’s economic landscape. President Luis Abinader, alongside executives from Discovery Land Company, Aman Group, and Third Point, has announced the development of the Playa Grande International Airport—a private aviation facility designed to provide direct international access to the region.

    The announcement ceremony at Playa Grande was attended by Tourism Minister David Collado and prominent investors, including Third Point founder Daniel Loeb, hospitality visionary Mike Meldman, and former MLB superstar Alex Rodriguez. The airport initiative forms part of a comprehensive expansion strategy for the Playa Grande Golf & Ocean Club, with projected investments exceeding US$1 billion in residential and tourism development.

    President Abinader emphasized the government’s commitment to institutional integrity, stating that the project advanced through proper legal channels while maintaining regulatory compliance. He acknowledged investor confidence in the Dominican Republic’s economy, which attracted approximately $5 billion in foreign investment last year, and highlighted the private sector’s crucial role in driving national economic growth.

    Minister Collado revealed that previous administrations had repeatedly stalled the airport initiative. The breakthrough came when Collado directly engaged President Abinader, who subsequently endorsed the project through presidential decree authority after assuring investors of governmental support.

    Developers anticipate the airport will serve as a gateway for thousands of families connected to Discovery Land Company’s global communities. The enhanced connectivity is expected to position Playa Grande among the Caribbean’s most exclusive destinations while unlocking substantial residential development opportunities.

    Situated along 11 kilometers of protected Atlantic coastline in Río San Juan, Playa Grande Golf & Ocean Club features luxury residences, the renowned Amanera resort, and a championship golf course originally designed by Robert Trent Jones Sr. and refined by Rees Jones. The new airport infrastructure will strategically connect the destination to key markets across North America, Europe, and Latin America, catalyzing the next phase of premium tourism and real estate growth in the region.

  • interCaribbean Airways wins Airline of the Year, PATWA Gold Award for Excellence in Airline Operations

    interCaribbean Airways wins Airline of the Year, PATWA Gold Award for Excellence in Airline Operations

    InterCaribbean Airways has achieved a remarkable feat in the aviation sector by securing two distinguished accolades at the 26th Pacific Area Travel Writers Association (PATWA) International Travel Awards. The ceremony, an integral part of the globally renowned ITB Berlin travel trade exhibition, bestowed upon the carrier the titles of ‘Airline of the Year – Regional (Caribbean)’ and the ‘PATWA Gold Award – Excellence in Airline Operations (Caribbean).’

    The prestigious honors were officially conferred during the PATWA World Tourism & Aviation Leaders’ Summit and International Travel Awards event on March 4, 2026. This recognition serves to highlight InterCaribbean’s profound dedication to fostering regional connectivity, seamlessly linking communities across its extensive network that spans 24 destinations within 18 distinct Caribbean nations.

    Trevor Sadler, Chief Executive Officer of InterCaribbean Airways, expressed profound gratitude for the acknowledgment. “We extend our sincere thanks to the Pacific Area Travel Writers Association for this esteemed recognition,” stated Sadler. “For over three decades—34 years to be precise—our mission has centered on uniting the Caribbean. Our operations facilitate not only passenger travel but are also crucial for cargo transport, commercial activities, and the essential daily connections that are the lifeblood of island economies. These awards are a testament to the unwavering commitment and excellence of our entire team who turn this vision into reality every day.”

    This double victory at PATWA builds upon an already stellar year of achievements for InterCaribbean in 2025. The airline’s previous accolades include being crowned the World’s Leading Regional Airline at the World Travel Awards Grand Final. Furthermore, it was recognized as the Caribbean’s Best MICE (Meetings, Incentives, Conferences, and Exhibitions) Airline and was awarded for having the Caribbean’s Best Airline Website. Notably, the airline also celebrated a third consecutive win for its outstanding Caribbean’s Leading Cabin Crew.

    The Pacific Area Travel Writers Association, established in 1999, is a non-profit international media consortium with a robust membership exceeding 5,000 travel journalists and writers across the globe. Its International Travel Awards are highly coveted within the travel and tourism industry, representing a benchmark of excellence and innovation. These awards are presented annually at the ITB Berlin convention, the world’s leading travel trade show, adding to their prestige and international acclaim.

  • Tamara Roberts Wins $500 in Flow’s Riddim and Rewards Promotion

    Tamara Roberts Wins $500 in Flow’s Riddim and Rewards Promotion

    Telecommunications provider Flow has announced Tamara Roberts as the latest victor in its ongoing ‘Riddim and Rewards’ customer engagement initiative. The promotional campaign, designed to reward customer loyalty and interaction, has awarded Roberts a substantial cash prize of $500. The program typically involves participants engaging with the brand through various channels, potentially including social media interactions, usage of specific services, or entry into draws upon meeting certain criteria set by the company. This win highlights Flow’s continued strategy of deploying targeted promotions to enhance customer satisfaction and brand affinity within its subscriber base. Such initiatives are common in the competitive telecom sector, where companies frequently leverage rewards programs to differentiate their offerings and retain a strong market position. The announcement serves to promote the ongoing campaign, encouraging further participation from existing and potential customers by showcasing tangible benefits and successful outcomes.

  • GTA expands global destination outreach through international engagements

    GTA expands global destination outreach through international engagements

    The Grenada Tourism Authority (GTA) has strategically capitalized on the nation’s Independence celebrations to enhance its tourism outreach among high-net-worth global citizens. The Investment Migration Agency Grenada (IMA) hosted approximately 200 attendees at a formal Independence Gala and engagement sessions, specifically targeting individuals who obtained Grenadian citizenship through the Citizenship by Investment (CBI) Programme from Africa, Asia, and the Middle East.

    During the event, the GTA presented Grenada as an elite leisure destination, emphasizing its luxury travel offerings, wellness retreats, eco-tourism experiences, and cultural attractions. The authority’s participation formed part of a calculated market diversification strategy aimed at strengthening connections with globally mobile audiences who already maintain ties with Grenada through citizenship.

    CEO Stacey Liburd emphasized the strategic importance of such engagements: “These platforms enable direct connections with audiences who possess meaningful relationships with Grenada. As we expand into emerging markets, we simultaneously enhance destination visibility and foster deeper, long-term engagement with our islands.

    The program featured collaborative presentations with the Grenada Investment Development Corporation (GIDC), which outlined investment opportunities, while Ambassador Terrence Forrester detailed upcoming Homecoming Week initiatives. IMA CEO Thomas Anthony noted the growing interest among new citizens in visiting Grenada, connecting with local communities, and exploring investment avenues beyond citizenship acquisition.

    The GTA continues to prioritize international partnerships and outreach initiatives that support sustainable tourism growth, market diversification, and strengthened global engagement through strategic alignment with citizenship investment programs.

  • CDB notes early commodity price ‘uptick’ amid Middle East conflict

    CDB notes early commodity price ‘uptick’ amid Middle East conflict

    The Caribbean Development Bank (CDB) has issued a stark warning that escalating geopolitical tensions in the Middle East are beginning to transmit economic shockwaves across global markets, with Caribbean nations poised to experience significant repercussions. During the bank’s annual news conference, Acting Deputy Director of Economics Jason Cotton elaborated on how the ongoing Iranian conflict could destabilize the region’s economic forecasts and growth trajectories.

    Cotton observed that preliminary indicators of economic strain are already materializing through rising commodity prices, noting ‘an uptick in commodity prices… higher than we have seen in the recent past.’ While commodity-exporting Caribbean nations might theoretically benefit from elevated global prices, Cotton emphasized that the overwhelming majority of CDB member states operate service-dominated economies particularly vulnerable to external economic disturbances.

    The economic structure of most Caribbean countries, including tourism-dependent nations like Saint Lucia, creates inherent susceptibility to imported inflation. As global prices escalate, service-oriented economies face intensified pressure through increased costs for imported goods, fuel, and essential supplies. This dynamic disproportionately affects small island developing states with limited domestic production capacity.

    ‘The majority of our member countries are service-exporting countries,’ Cotton explained. ‘Consequently, these price increases would generate inflationary implications, affect economic growth projections, and potentially diminish tourism demand.’ The convergence of these factors threatens to create compound economic challenges for consumers, businesses, and overall economic stability throughout the region.

    Cotton characterized the situation as exceptionally fluid, noting that substantial uncertainty persists regarding the conflict’s ultimate economic impact. ‘We anticipate both upside and downside risks if the situation persists,’ he stated, ‘but we must monitor the evolution of this situation before determining its full ramifications.’