In the face of escalating global economic instability, the St. Kitts-Nevis Chamber of Industry and Commerce (SKNCIC) has urged the government to transition from policy planning to actionable implementation. This call to action was made during recent consultations for the 2026 national budget, held at the St. Kitts Marriott Resort, where the Chamber played a pivotal role. Trevor Blake, President of the SKNCIC, emphasized the necessity of converting strategic discussions into concrete outcomes, particularly as the global economic environment grows increasingly fragmented. The United States’ adoption of a country-first policy, imposition of tariffs on major trading partners, and deportation of illegal immigrants have significantly impacted the Federation’s residents and business community. Blake acknowledged the Federation’s commendable progress over the years but highlighted the challenges of sustaining and accelerating this growth amidst global economic flux. He pointed out that international institutions predict slower global growth, persistent inflation, and heightened uncertainty, all of which are dampening domestic economic activity. The ‘America First’ policy, ongoing Russia-Ukraine war, and Middle Eastern instability have disrupted global supply chains, putting pressure on domestic producers, distributors, and retailers. Given the Federation’s reliance on imported food and tourism, Blake stressed the importance of domestic policies in the 2026 budget aimed at mitigating these impacts. He noted the government’s efforts to reduce reliance on the Citizenship by Investment (CBI) programme and tourism by enhancing productivity, improving road networks, increasing agricultural yields, attracting foreign direct investment, and expanding airlift and cruise ship arrivals. Blake also commended the government’s success in curbing violent crime, which poses a significant societal threat and deters investment. He highlighted the sharp decline in CBI revenues, which accounted for 22% of GDP in 2023 but have since fallen to 8%, projected to remain around 9% for the rest of the decade. Blake applauded the government’s steps to reform the CBI programme in collaboration with regional partners, aiming to bring credibility and sustainability. Prime Minister Dr. Terrance Drew is expected to provide a comprehensive update on the state of the economy in the 2026 Budget Address next month.
分类： business
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Sluggish world oil price affects Guyana’s projected oil earnings
Guyana’s oil revenues experienced minimal growth in the first half of 2025, primarily due to a downturn in global oil prices. However, the nation anticipates a boost in its oil sector later this year with the commencement of production at the Yellowtail field in the Stabroek Block, facilitated by a floating production storage and offloading (FPSO) vessel. This update was detailed in the mid-year economic report presented to the National Assembly by Finance Minister Dr. Ashni Singh on Monday. The report forecasts that crude oil prices will average $68 per barrel in 2025, marking a 15.7% decrease from the 2024 average of $71.9 per barrel. Despite this, the oil sector is expected to grow by 15.6% due to earlier-than-expected production at Yellowtail, increasing the number of profit oil lifts from 31 to 33. Consequently, Guyana’s petroleum deposits for the year are projected to reach $2,512.4 million, slightly above the $2,503 million estimated during the 2025 National Budget preparation. The report also highlights that the Natural Resources Fund (NRF) is expected to see a withdrawal of $2,463.9 million this year, leaving a closing balance of $3,248.8 million by year-end. Additionally, the oil and gas industry expanded by 5.5% in the first half of 2025, with production totaling 115.7 million barrels, up from 113.5 million barrels in the same period last year. Daily production averaged nearly 640,000 barrels per day (bpd) in the first half of this year, compared to approximately 624,000 bpd in the first half of 2024. The moderation in production on the Destiny FPSO was offset by increased output from the Unity and Prosperity FPSOs.
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International rice prices fall below projections – finance minister
Despite the Guyanese government’s efforts to expand rice markets in regions like Mexico and Saudi Arabia, the Ministry of Finance’s mid-year economic report reveals a significant decline in international rice prices, far below initial projections. The report, presented to the National Assembly, indicates that rice prices are expected to average US$406 per metric tonne in 2025, marking a 31% year-on-year decrease and falling short of the US$530 per metric tonne forecasted during the 2025 National Budget preparation. This downturn is attributed to increased global production and unlocked inventories in major exporting countries such as India, compounded by a new harvest in Vietnam. Despite the price slump, Guyana’s rice production target for 2025 remains steady at 804,000 tonnes, with a growth target of 12.4%. The government continues to support farmers through initiatives like fertiliser and pesticide subsidies, alongside innovative pest control methods. Additionally, efforts to secure higher paddy prices for millers are ongoing, with some already paying GY$2,500 per bag. The Guyana Rice Development Board (GRDB) reported a production of 410,194 tonnes of rice equivalent in the first half of 2025, a significant increase from 362,030 tonnes in the same period last year. Favourable weather conditions have also contributed to a yield of 6.6 tonnes per hectare for the first crop of 2025. The government’s comprehensive support, including the release of biocontrol predators and ongoing research on rice insect pest management, underscores its commitment to sustaining the rice industry amidst global market challenges.
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Is Belize Tax Service’s Transition to SARA Being Pushed Back?
The Belize Tax Service Department’s planned transition to a Semi-Autonomous Revenue Authority (SARA), initially slated for December 2025, is now facing significant delays. The Briceño administration announced this major reform in July, aiming to modernize the tax system as part of broader public service reforms. However, the move has been met with strong opposition from the Public Service Union (PSU), which claims it was excluded from the decision-making process and fears the loss of employee benefits. PSU President Dean Flowers recently declared a trade dispute after the government failed to address their concerns. Public Service Minister Henry Charles Usher has acknowledged the issues, emphasizing the need for dialogue with employees and stakeholders. He revealed that the transition is now expected to occur in late 2026, pending resolution of the disputes and completion of necessary preparatory steps. This delay underscores the complexities of implementing large-scale reforms while balancing employee welfare and administrative efficiency.
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Internal HRCU Report Leak Raises Compliance Concerns
Holy Redeemer Credit Union (HRCU) is grappling with a significant breach of confidentiality following the unauthorized disclosure of an internal audit report. The document, intended solely for senior management and the board, was leaked to Channel 7’s Jules Vasquez, who publicly discussed its contents during his broadcast. HRCU has condemned the leak, stating it violates both the Credit Union Act and the institution’s Code of Conduct. The credit union emphasized that the breach could jeopardize its agreements with regulators and external auditors. In response, HRCU assured its members that all issues highlighted in the audit have been resolved and that robust compliance measures remain in effect. The incident has sparked a broader debate about transparency and accountability within Belize’s financial sector. Questions have arisen regarding Section Thirty-two of the Credit Union Act, which HRCU cited in its statement. Does this section merely restrict HRCU officials from disclosing confidential information, or does it also prohibit media outlets from reporting on leaked documents? Additionally, HRCU has not ruled out legal action against the leaker or the broadcaster. The leak has drawn sharp criticism from Henry Charles Usher, who expressed concern over the potential exposure of personal financial information. Usher urged HRCU to clarify the matter publicly and ensure its response is widely disseminated.
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Belize Launches Million-dollar Jackpot, Questions Loom
The Belize Government Lotteries (BGLL) has announced an exciting opportunity for citizens to try their luck at winning a million-dollar jackpot. Tickets for this special lottery game are now available at BGLL agents across the nation, with online sales commencing on November 5 via the Fi We Boledo app. Priced at just $5 per ticket, participants can select a four-digit combination for a chance to win the grand prize, which will be drawn on December 20 in Belmopan. In the event of multiple winners, the prize will be divided equally. Winners can claim their rewards starting December 22, but must act quickly as tickets are only valid for 30 days post-draw. A notable aspect of this initiative is that all profits will be directed to charitable causes. However, questions have been raised regarding the transparency of the process. The BGLL has stated that profits will be donated to a charitable organization chosen by its Board, but specifics such as the selection criteria, beneficiary organizations, and the timeline for announcements remain unclear. Additionally, concerns have been voiced about whether BGLL will publish an independently audited report detailing ticket sales, administrative costs, prize payouts, and the exact amount donated. The 30-day validity period for tickets has also been questioned, especially for a one-time, high-stakes game. While the lottery offers a thrilling chance to win big, the lack of detailed information has left some Belizeans skeptical about the initiative’s transparency and accountability.
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Agribusiness : Ayitika Haiti Wins Silver Medal in the Gourmet Category for its 70% Dark Chocolate «Amelonado-Criollo»
In a remarkable achievement for Haitian agribusiness, Ayitika Haiti has been awarded the silver medal in the ‘Gourmet’ category at the 30th Salon du Chocolat in Paris. The accolade was bestowed upon their 70% dark chocolate, ‘Amelonado-Criollo,’ during the 4th International Chocolate Competition organized by the Agency for the Promotion of Agricultural Products (AVPA). The event, held from October 29 to November 2, 2025, featured 240 exhibitors from over 20 countries, showcasing 170 unique chocolate varieties. Jean Chesnel Jean, the visionary agronomist and founder of Ayitika, expressed his ambition to compete in additional international competitions, particularly in the United States and Canada, with the goal of securing a gold medal for Haiti in the near future. The Ayitika team is now preparing for the Montreal Chocolate Show, scheduled for November 20-23, 2025. Ayitika’s success is rooted in its ‘root-to-bar’ approach, which ensures high-quality chocolate by meticulously overseeing every stage of production, from cacao tree selection to final product. Supported by the Knowledge and Freedom Foundation (FOKAL), Ayitika collaborates with more than 2,500 cacao-producing families, ensuring the authenticity and excellence of its offerings. The Haitian-Canadian Chamber of Commerce and Industry (CCIHC) also extended its congratulations, highlighting Ayitika’s role in promoting a positive and modern image of Haiti on the global stage. This achievement not only underscores Ayitika’s expertise but also celebrates the talent and perseverance of Haitian artisans, inspiring a new generation of entrepreneurs.
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Elias, president-commissaris Staatsolie:
During the Annual General Meeting of Shareholders of Staatsolie, the Surinamese state-owned oil company, Rudolf Elias was officially appointed as the new President-Commissaris. The meeting, held at the Cabinet of the President, also confirmed the remaining members of the new Board of Commissioners (RvC). The newly appointed RvC includes Sergio Akiemboto, Aroon Samjhawan, Chantal Doekhie, Edgar Caffé, Ewald Poetisi, and Rudy Chin Jen Sem, succeeding the previous team led by Gonda Asadang, as reported by the Suriname Communication Service.
Elias, who served as the General Director of Staatsolie from 2014 to 2021, brings extensive experience to the role, strengthening the company’s strategic oversight during a critical phase of growth in both onshore and offshore oil and gas operations. The new board will collaborate with the executive team to ensure professional governance and sustainable value creation for Surinamese society.
Sergio Akiemboto, a member of the RvC, emphasized the importance of close cooperation between the board, the executive team, and the state as the primary shareholder. “The RvC represents the shareholder and safeguards the state’s direction and vision within Staatsolie. At the same time, our role is to oversee, monitor, and advise, enabling the executive team to fulfill its responsibilities effectively,” Akiemboto stated. He also highlighted the significance of transparency and sustainable development, noting that oil revenues should be used to strengthen other sectors such as education, agriculture, and tourism, fostering a resilient and diversified economy.
General Director Annand Jagesar reported that Staatsolie is performing strongly both financially and operationally. “Our production, refining, and offshore activities are on track. The Gran Morgu project, expected to enable Suriname to produce 220,000 barrels of oil per day by 2028, is progressing on schedule and within budget.” Jagesar added that the project will not only generate direct income through royalties and taxes but also contribute to local employment and business development. “Local content development is crucial. We aim for Surinamese workers and businesses to actively participate in this growing sector.”
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Antigua and Barbuda to Host Caribbean Travel Marketplace 2026
The Caribbean Hotel & Tourism Association (CHTA) has announced that Antigua and Barbuda will host the 44th edition of the Caribbean Travel Marketplace (CTM) from May 12 to 15, 2026. This decision follows the successful partnership established during the 2025 event and highlights CHTA’s confidence in the dual-island nation’s leadership and commitment to advancing Caribbean tourism. CTM, the region’s largest tourism forum, serves as a platform for regional suppliers to connect with global buyers, fostering business growth, strengthening partnerships, and showcasing the innovation and resilience of the Caribbean’s visitor economy. CHTA President Sanovnik Destang emphasized the pride in continuing the collaboration with Antigua and Barbuda, citing its dedication to excellence and regional partnership. Antigua and Barbuda’s proven ability to host world-class conferences was recently recognized with the title of ‘Caribbean’s Best Meetings and Conference Destination’ by the World Travel Awards. The nation has demonstrated its capabilities by hosting major events such as Marketplace 2025, the OAS Conference, and preparations for the upcoming Commonwealth Heads of Government Meeting. Colin C. James, CEO of the Antigua and Barbuda Tourism Authority, expressed pride in hosting CTM once again, emphasizing the country’s strong infrastructure, modern facilities, and vibrant culture. Marketplace 2026 will feature enhancements, including expanded accommodation options and venue optimization, reflecting CHTA and Antigua and Barbuda’s shared commitment to delivering an exceptional experience for delegates. Regional and international air connectivity will remain a strategic focus, with continued collaboration among government partners, aviation stakeholders, and tourism officials. CHTA also extended solidarity to Jamaica in its recovery efforts, reaffirming its commitment to all member destinations and activating its Disaster Response Fund to support regions impacted by Hurricane Melissa. Vanessa Ledesma, CHTA CEO, highlighted the event’s role in strengthening partnerships, supporting business development, and advancing Caribbean tourism. Registration details and travel information for CTM 2026 will be released in the coming months.
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Halls of Justice Taking Shape as NH Chairman Reaffirms Commitment to Saint Lucia
NH International (Caribbean) Ltd, the Trinidad-based construction firm responsible for Saint Lucia’s landmark Halls of Justice project, has reaffirmed its dedication to fostering national development through local partnerships and skills transfer. Executive Chairman Emile Elias is currently in Saint Lucia, conducting site visits and engaging with government and industry stakeholders. His visit highlights NH’s mission to ‘build beyond structures’ by strengthening institutions, professional standards, and local capacity. During a press conference at the Halls of Justice site, Elias emphasized, ‘Our aim is to build facilities that last, but also to help build the capacity and confidence of the people who will sustain them.’ NH International is overseeing several major projects in Saint Lucia, including the EC$143 million Halls of Justice, the Rodney Bay City Centre, and upgrades to the Hewanorra International Airport control tower. Elias noted that NH’s approach is rooted in knowledge sharing and the inclusion of Saint Lucian professionals at every stage of project delivery. ‘In every country where we operate, and especially here in Saint Lucia, we integrate local professionals, engineers, and contractors into every phase of delivery,’ he said. This collaboration ensures that, upon project completion, the island gains not only a building but also a more technically confident construction sector. Saint Lucian engineers are now contributing to NH projects in other Caribbean territories, a testament to the success of this model. NH is also introducing advanced construction technologies to the island, including energy-efficient building systems and digital monitoring tools, while mentoring local teams in internationally recognized safety and quality standards. As part of his visit, Elias will meet with senior government officials to discuss ongoing and future collaborations. Celebrating its 60th anniversary this year, NH International has delivered over US$1 billion in projects across 11 countries.