Carib Scope

分类： business

  • MV Blue Wave Harmony arrives Jan 22

    MV Blue Wave Harmony arrives Jan 22

    In a significant development for Trinidad and Tobago’s infrastructure and economic landscape, Works and Infrastructure Minister Jearlean John announced the imminent arrival of the MV Blue Wave Harmony. The new passenger and cargo vessel, set to dock at 8 am on January 22, will serve as a replacement for the Cabo Star on the critical seabridge connection.

    The announcement came during the Amcham economic forum at Port of Spain’s Hyatt Regency on January 21, where Minister John revealed extensive redevelopment plans as part of the government’s broader revitalization initiative. The comprehensive strategy encompasses 129 projects targeting key areas nationwide, with particular focus on transformative developments at Invaders Bay and Port of Spain.

    Invaders Bay, comprising 50 acres of prime reclaimed real estate accumulated over two administrations, is poised for dramatic transformation. Minister John outlined ambitious proposals including hotel complexes, marina facilities, and residential housing. The foreshore development alone anticipates 300 premium apartments and 400 marina docks, capitalizing on Trinidad’s advantageous position outside the hurricane belt for dry docking services.

    The Port of Spain revitalization involves repurposing over 400 acres of land, potentially freeing 150 acres of premium real estate for tourism-oriented development including convention centers and entertainment venues. Additionally, Sea Lots is designated for conversion into a specialized “health city” district.

    The scale of construction requirements underscores the project’s magnitude: 3,000 tonnes of structural steel, 23,000 tonnes of cement, 5,000 tonnes of rebar, and substantial additional materials. At peak development, the initiatives are projected to generate over 70,000 jobs, providing significant economic stimulation through construction activity.

    Minister John confirmed the extension of expression of interest submissions for the Invaders Bay project until February 5, responding to numerous requests for additional time. The developments will receive international validation through an upcoming visit by Abu Dhabi’s foreign affairs minister on January 23, who will assess project sites firsthand.

  • BBC announces landmark ‘partnership’ with YouTube

    BBC announces landmark ‘partnership’ with YouTube

    LONDON — In a strategic move to expand its digital footprint, the British Broadcasting Corporation (BBC) has unveiled a groundbreaking partnership with YouTube, the American video streaming behemoth. The collaboration aims to amplify the BBC’s renowned storytelling and journalistic content for a younger, digitally-engaged global audience.

    The multi-faceted agreement will see the BBC significantly enhance its presence on the platform by developing bespoke content specifically tailored for YouTube’s demographic. A key component involves the creation of new programming designed to resonate with younger viewers, alongside initiatives to highlight existing BBC content and foster the development of emerging British digital creators.

    Financially, the partnership introduces a new revenue stream for the publicly-funded broadcaster. Content viewed outside the United Kingdom will feature advertising, potentially generating crucial supplementary income. This development arrives at a pivotal moment for the BBC, which is navigating financial pressures and ongoing scrutiny regarding its long-term funding model, primarily supported by a mandatory television license fee of £174.50 ($234) for UK households.

    While the precise financial terms of the YouTube deal remain confidential, its strategic importance is emphasized by leadership. Tim Davie, the BBC’s outgoing Director-General, stated, ‘It’s essential that everyone gets value from the BBC, and this groundbreaking partnership will help us connect with audiences in new ways.’

    Echoing this sentiment, Pedro Pina, YouTube’s Vice President for EMEA, expressed delight in the alliance, noting it will ‘redefine the boundaries of digital storytelling.’ Pina added that the partnership is designed to ‘translate the BBC’s world-class content for a digital-first audience, ensuring its cultural impact reaches a younger, more global audience.’

  • Angostura gets spicy! Launches new rum & cola blend, non-alcoholic bitters on the horizon

    Angostura gets spicy! Launches new rum & cola blend, non-alcoholic bitters on the horizon

    In a strategic move aligning with Carnival 2026 festivities, Angostura Holdings has launched Cubata—a premium ready-to-drink (RTD) beverage combining spiced rum and cola. The product debuted at a media event on January 20th at the company’s Laventille headquarters, attended by acting CEO Ian Forbes, Chairman Gary Hunt, and brand ambassador Imran ‘GI’ Beharry.

    Cubata represents Angostura’s innovative take on the classic rum-and-cola cocktail, specifically formulated with Angostura Tamboo Spiced Rum rather than traditional white rum. With an alcohol content of 7%—positioned at the higher end of the RTD market—the beverage targets lifestyle-driven consumers aged 21-35, including urban professionals, creatives, and hospitality workers.

    Forbes emphasized that Cubata addresses growing consumer demand for convenience and experimentation within the rapidly expanding RTD sector. Unlike conventional Cuba Libre cocktails, this pre-mixed formulation offers consistent quality and quick service capabilities for bar environments.

    Chairman Gary Hunt revealed broader strategic initiatives accompanying the launch. The company will rebrand its Solera Wines and Spirits outlets as ‘House of Angostura Wines and Spirits’ to strengthen brand recognition and international appeal. This rebranding, already approved by the board, facilitates clearer market association with the Angostura name.

    Looking toward global expansion, Hunt outlined plans to establish House of Angostura outlets in cities with significant Trinidad and Tobago diaspora communities, including Brooklyn and Toronto. The company is simultaneously exploring non-alcoholic product lines, including alcohol-free bitters, to align with emerging consumer trends among Gen Z and millennial demographics.

    These developments form part of Angostura’s ‘2.0 x3’ growth strategy aiming to double revenue and triple profits by 2028. The Cubata launch strategically precedes Carnival celebrations, leveraging shifting consumer preferences toward convenience, flavor innovation, and brand identity.

  • ‘My expertise is not in tending flowers’

    ‘My expertise is not in tending flowers’

    Marlene Street Forrest, the recently retired Managing Director of the Jamaica Stock Exchange (JSE), has made a swift return to the financial sector by establishing her own consultancy firm. Having concluded her 26-year tenure at the JSE in September 2025—a period the exchange hailed as exceptionally transformational—Street Forrest announced the launch of Street Forrest Business Consultancy Ltd in January 2026.

    The venture represents a strategic redirection of her expertise rather than a conventional retirement. In interviews with Jamaican media, Street Forrest clarified that her motivation stems from identified gaps in corporate governance structures across businesses of all sizes. “I’ve seen where there are many things in business where small, medium, and even large companies need help,” she explained, specifically highlighting deficiencies in governance frameworks and unwritten operating procedures.

    Her consultancy model will leverage the extensive network and knowledge she accumulated leading the Caribbean’s premier securities exchange. Services will encompass policymaking guidance, regulatory assistance, and hands-on mentorship programs for corporate clients. Beyond immediate structural improvements, Street Forrest envisions contributing to regional capital market development, potentially assisting other Caribbean nations in establishing or strengthening their stock exchange operations.

    The consultancy will operate through a collaborative model, engaging external experts and credible industry providers to deliver comprehensive services. Street Forrest also expressed particular interest in supporting social sector organizations through pro bono or reduced-rate arrangements.

    She measures success not by visibility but by systemic impact: creating robust governance systems that continue functioning long after her engagement concludes. This approach, she believes, will ultimately foster stronger enterprises, better-governed institutions, and more confident investment environments throughout the region.

  • Pan American Life: Putting humanity into digitisation

    Pan American Life: Putting humanity into digitisation

    In an era of rapid technological transformation, Pan American Life Insurance Group is making strategic investments to enhance digital capabilities while maintaining the essential human element that defines the insurance industry. During a media conference at Hyatt Regency in Port of Spain on January 20, company executives outlined their vision for balancing technological innovation with personalized customer relationships.

    The insurance giant, operating across 22 countries with over 2,200 employees, announced plans to invest approximately $4 million in two new digital tools scheduled for release in 2026. The first tool targets corporate clients by streamlining claims processing, while the second implements ‘straight through processing’ technology that automates end-to-end workflows including underwriting and data entry.

    Executive Vice President of International Markets Daniel Costello emphasized that these advancements would position the company competitively. ‘These tools are critical to move forward,’ Costello stated. ‘We’re not just keeping pace with competitors—we’re setting new standards for customer satisfaction.’

    Despite the digital push, executives stressed that insurance fundamentally remains about human connections. President of Global Benefits Robert DiCianni noted that while technology has evolved, customer needs haven’t changed since the company’s founding in 1911. ‘People need protection—that’s been our cornerstone since 1958. Technology simply enables us to reach customers more effectively through our agents.’

    The company acknowledges varying technological adoption rates across generations. President of Global Life Bruce Parker explained their phased approach: ‘Younger generations adopt technology much quicker, while older clients have established interaction patterns we won’t abandon. We’re managing digitalization at a pace that brings all customers along.’

    Caribbean CEO Winston Williams highlighted technology’s role as an enabler rather than replacement for human interaction. ‘The face-to-face encounter is still better when discussing dreams—technology doesn’t convert dreams into plans. What technology allows is meaningful connection when physical meetings aren’t possible.’

    Regarding regional operations, executives identified Trinidad and Tobago and the broader Caribbean as crucial growth markets. DiCianni confirmed, ‘We can’t reach our corporate goals without achieving our growth objectives in the Caribbean. We see significant opportunities here.’

    The company is monitoring proposed financial regulation changes, including increased asset levies for financial institutions and pension tax removals. Williams indicated these changes might benefit customers directly, potentially putting ’25 percent more in their pockets’ once implemented.

  • JMMB upgrades May Pen branch as Clarendon activity gathers pace

    JMMB upgrades May Pen branch as Clarendon activity gathers pace

    JMMB Group is significantly enhancing its operational footprint in Clarendon through the strategic relocation of its May Pen branch to a comprehensive Financial Goals Centre at Millennium Mall, Mineral Heights. This expansion, scheduled for inauguration on January 19, represents a substantial evolution from the institution’s previous investment-focused model to a full-service financial hub integrating banking, investment, and insurance services under one roof.

    The relocation decision stems from both the sustained 22-year presence in the parish and the rapidly evolving economic landscape of Clarendon. Historically dominated by sugar production, livestock, and large estates, the region is now experiencing transformative development across multiple sectors. JMMB’s investment specifically addresses the growing demand for integrated financial solutions from diverse client segments including agricultural enterprises, manufacturing operations, and expanding small-to-medium businesses.

    This strategic move occurs against a backdrop of significant infrastructure and development initiatives throughout Clarendon. Government-led residential projects in Longville Park anticipate delivering thousands of new housing solutions over the coming decade, while concurrent agricultural infrastructure advancements—including modern irrigation systems and agro parks—are enhancing productivity in traditional rural sectors.

    Urban planning authorities are simultaneously responding to development pressures through comprehensive updates to Clarendon’s development order, ensuring coordinated expansion around commercial hubs like May Pen. JMMB’s expansion incorporates hybrid service delivery combining digital innovation with personalized advisory services, recognizing that complex financial decisions in communities like Clarendon continue to benefit from face-to-face consultation.

    The new facility will feature teller services, advanced ATM technology, and digital queue management systems designed to improve operational efficiency and customer experience. This physical expansion demonstrates JMMB’s confidence in Clarendon’s economic trajectory while addressing identified gaps in financial access across central and southern regions of the parish.

  • Syria recovers country’s largest oilfield

    Syria recovers country’s largest oilfield

    In a significant development for Syria’s energy sector, senior officials have outlined ambitious plans to restore production at the nation’s largest oilfield using domestic expertise and international partnerships. During a press conference at the strategically vital al-Omar oilfield in Deir Ezzor Governorate, SPC executive Qablawi detailed the comprehensive rehabilitation strategy.

    The rehabilitation initiative will leverage national technical capabilities while fostering cooperation with both local enterprises and international corporations. Qablawi emphasized the field’s critical importance to Syria’s economic infrastructure, revealing ongoing negotiations with previous operator Shell to facilitate complete ownership transfer to the Syrian government.

    The official provided stark production figures highlighting the field’s dramatic decline: from approximately 50,000 barrels per day before the conflict to current output of merely 5,000 barrels. This precipitous drop is attributed to substandard extraction methods employed in recent years that disregarded environmental considerations.

    To address this shortfall, the Syrian Petroleum Company has formulated a comprehensive recovery blueprint aligned with global operational standards. The plan targets production restoration to pre-conflict levels of 40,000-50,000 barrels daily, representing a potential tenfold increase from current output that could significantly boost national energy independence and economic stability.

  • Global job quality stagnates despite resilient growth

    Global job quality stagnates despite resilient growth

    A comprehensive analysis by the International Labour Organization (ILO) reveals a troubling paradox in global labor markets: while economic growth demonstrates resilience and unemployment rates remain stable, fundamental improvements in job quality have ground to a halt worldwide.

    The latest Employment and Social Trends 2026 report indicates the global unemployment rate will hold steady at 4.9% throughout 2026, representing approximately 186 million individuals. However, beneath this surface stability lies a deeper crisis of job quality. ILO Director-General Gilbert F. Houngbo emphasized that stable statistics mask the harsh reality that hundreds of millions remain trapped in cycles of poverty, informality, and economic exclusion.

    Critical examination reveals nearly 300 million workers subsist on less than $3 daily, while informality continues its upward trajectory. Projections indicate 2.1 billion workers will occupy informal positions by 2026, lacking essential social protections, workplace rights, and job security. The most severe regression appears in low-income countries, where workers with already precarious conditions face further deterioration.

    The report identifies multiple intersecting challenges: youth unemployment climbed to 12.4% in 2025, with approximately 260 million young people classified as NEET (not in education, employment, or training). Artificial intelligence and automation present additional threats, particularly for educated youth in high-income nations seeking entry into skilled occupations.

    Gender inequality remains deeply entrenched, with women representing just 40% of global employment and demonstrating 24% lower labor force participation rates than men. Progress in female workforce engagement has stagnated, delaying advancements toward workplace gender equality.

    Demographic shifts further complicate the global employment landscape. Aging populations in developed economies constrain labor force growth, while low-income countries struggle to convert rapid population expansion into productive employment opportunities. Without sufficient job creation, poorer nations risk squandering their demographic potential.

    Global trade disruptions and policy uncertainties compound these challenges, particularly affecting wages in Southeast Asia, Southern Asia, and Europe. Nevertheless, trade continues supporting 465 million jobs globally, with over half concentrated in Asia and the Pacific region.

    The ILO urges coordinated action among governments, employers, and workers to address these systemic issues through responsible technological integration, enhanced skills development, and policies specifically targeting gender and youth employment gaps.

  • Antigua and Barbuda Maps Out 2026 Tourism Push with New Events and Upgrades

    Antigua and Barbuda Maps Out 2026 Tourism Push with New Events and Upgrades

    The Caribbean nation of Antigua and Barbuda has announced an ambitious tourism development strategy for 2026, featuring an extensive array of new events, property enhancements, and infrastructure improvements designed to elevate its position as a premier travel destination.

    In a comprehensive destination update released on January 19, the Antigua and Barbuda Tourism Authority revealed a meticulously planned calendar of international sporting competitions, cultural celebrations, and culinary festivals. The strategic initiative aims to diversify visitor experiences while maintaining a commitment to authentic Caribbean hospitality.

    Colin C. James, Chief Executive Officer of the ABTA, emphasized the nation’s dedication to quality and authenticity. “Our islands are fully accessible and eagerly anticipating visitor arrivals. For 2026, we take pride in showcasing developments that will deliver genuine experiences to our guests, complemented by strategic investments that will enhance our overall tourism product quality,” James stated.

    The 2026 events calendar commences in April with the debut Antigua Racing Cup (April 9-12), immediately followed by the AUA Rohrman Trail & Swim Fest (April 11-12). May features Antigua and Barbuda Culinary Month, incorporating Restaurant Week (May 3-17) and the FAB – Food, Art & Beverage Fest on May 23, coinciding with the tenth anniversary celebration of Run in Paradise. The vibrant Antigua Carnival is scheduled for July 25 through August 4, while November will host the prestigious Antigua and Barbuda Art Week.

    Accommodation enhancements include the anticipated 2026 opening of Moon Gate, a boutique luxury property, alongside completed renovations at established resorts including Hermitage Bay and Curtain Bluff. New culinary and adventure offerings feature Fat Urchin at Jolly Harbour Marina and expanded eco-experiences provided by Rock Adventures.

    Significant infrastructure developments are progressing, including runway rehabilitation at V.C. Bird International Airport scheduled for November 2026 completion. The new cruise terminal at Antigua Cruise Port will commence partial operations on January 24, with full completion anticipated by July 2026.

  • An American-led Venezuela shatters Dominican exceptionalism

    An American-led Venezuela shatters Dominican exceptionalism

    The Dominican Republic stands at a critical juncture as its longstanding position as the Caribbean’s stable economic haven faces unprecedented challenges. For two decades, the nation benefited from regional instability, attracting capital and talent by default while neighboring countries grappled with crises. This era of asymmetric advantage is rapidly closing as geopolitical shifts reshape the competitive landscape.

    Venezuela’s economic renaissance, backed by substantial American investment and operational scale, represents a structural transformation rather than theoretical possibility. Simultaneously, Cuba’s impending transition threatens to further redistribute regional capital and talent. These developments will fundamentally reprice Caribbean economic dynamics, challenging the Dominican Republic’s current development model.

    Critical examination reveals fundamental flaws in the nation’s innovation strategy. Punta Bergantín, initially promoted as a ‘Silicon Beach of the Global South,’ demonstrates concerning execution gaps. Instead of innovation infrastructure, the project has prioritized conventional tourism assets—hotels, resorts, and recreational facilities. This discrepancy between branding and implementation risks degrading the country’s credibility as a serious innovation destination.

    The national development approach continues emphasizing physical assets: expanded airports, additional marinas, and real estate developments. While nearshoring initiatives and semiconductor manufacturing represent positive steps, they remain tactical advantages dependent on labor arbitrage rather than sustainable competitive differentiation.

    The nation’s innovation ecosystem suffers from structural deficiencies. With research and development investment languishing below 0.3% of GDP—significantly lower than innovation-driven economies’ 2-3%—the Dominican Republic lacks crucial architecture: coherent venture capital systems, startup operating standards, corporate integration pathways, and exportable digital IP pipelines.

    An imminent talent crisis compounds these challenges. The educated Venezuelan diaspora, currently residing in the Dominican Republic, represents one of the hemisphere’s most capitalized migrant populations comprising engineers, entrepreneurs, and professionals. As Venezuela reopens, this talent exodus will accelerate, creating a vacuum of expertise, institutional memory, and entrepreneurial energy.

    The solution requires immediate, coordinated action across five domains: formalizing innovation as a distinct industry with proper policy frameworks; building comprehensive venture infrastructure beyond mere funding; professionalizing startups as export vehicles rather than experimental projects; creating cross-border moats through Dominican IP exports; and integrating public-private execution mechanisms.

    Without cohesive innovation architecture, the Dominican Republic risks maintaining beautiful infrastructure while the region economically reengineers around it. The window for strategic response is narrowing rapidly as competitive pressures intensify across the Caribbean basin.