Carib Scope

分类： business

  • Transportation : Sunrise Airways opens a new regional hub in the Dominican Republic

    Transportation : Sunrise Airways opens a new regional hub in the Dominican Republic

    Haiti’s premier carrier Sunrise Airways has unveiled a strategic expansion of its regional operations by establishing a new operational hub in Santo Domingo, Dominican Republic. This development marks a significant milestone in the airline’s ongoing mission to enhance connectivity throughout the Caribbean basin.

    The inaugural flights from Las Américas International Airport (SDQ) will connect Santo Domingo to Antigua’s V.C. Bird International Airport (ANU) and Tortola’s Terrance B. Lettsome International Airport (EIS) beginning early March 2026. The airline will utilize its 30-seat Embraer 140 aircraft, operated through its certified subsidiary Sunrise Airways Dominicana, which has been operational since 2019.

    This expansion represents the latest chapter in Sunrise Airways’ sustained growth narrative that began in 2012. The carrier has progressively developed an extensive network connecting Caribbean capitals and islands with shared economic, cultural, and tourism interests. To date, the airline has transported approximately 1.85 million passengers across routes including Port-au-Prince, Cap-Haïtien, Havana, Santiago de Cuba, Miami, Fort Lauderdale, and numerous other Caribbean destinations.

    The new Santo Domingo hub follows the airline’s successful expansion into the Lesser Antilles in May 2024, which established connections to Antigua, Saint Kitts and Nevis, Dominica, and Saint Lucia. This strategic move reinforces the airline’s ‘One Caribbean’ vision, which aims to create a more integrated regional transportation network.

    Flight operations will maintain a consistent schedule with twice-weekly service to Antigua (Tuesdays and Saturdays) and twice-weekly service to Tortola (Thursdays and Sundays). The establishment of this new hub facilitates enhanced tourism opportunities, business travel efficiency, and stronger connections between regional communities living and working across the Caribbean archipelago.

  • BTL Calls Starlink a Complementary Service

    BTL Calls Starlink a Complementary Service

    Amid ongoing scrutiny of Belize Telemedia Limited’s proposed acquisition of Speednet, the telecommunications giant is articulating its strategic vision for navigating disruptive technologies in the digital arena. Contrary to perceptions that emerging satellite internet services like Starlink pose a competitive threat, BTL’s leadership characterizes them as complementary components to Belize’s connectivity ecosystem.

    Chief Financial Officer Ian Cleverly presented the company’s position during recent discussions, emphasizing BTL’s commitment to terrestrial network superiority. “Starlink serves specific complementary functions rather than direct competition,” Cleverly stated. “Our fiber-to-the-home infrastructure delivers significantly superior speeds and bandwidth capabilities compared to satellite alternatives, which operate within constrained data channels.”

    The financial executive elaborated on BTL’s broader strategic objectives, highlighting investments in national capacity building. “Our growth strategy prioritizes Belize’s technical expertise development and career advancement aligned with our digital transformation agenda,” Cleverly explained. “We’re committed to upskilling Belizean talent for the new technological era while expanding training opportunities for future generations.”

    BTL’s stance emerges as policymakers and industry observers debate how traditional telecom providers should adapt to global satellite internet proliferation. The company maintains that its primary focus remains strengthening domestic infrastructure rather than reacting to emerging technologies. This perspective positions satellite services as niche solutions while asserting terrestrial networks’ continued dominance in delivering high-volume data consumption requirements.

    The telecommunications provider’s confident outlook reflects its assessment of current technological capabilities and market demands, suggesting Belize’s digital future will be built primarily through ground-based networks augmented by specialized satellite services.

  • SSB Puts BTL-SMART Decision on Hold

    SSB Puts BTL-SMART Decision on Hold

    The Social Security Board of Belize has postponed its verdict on Belize Telemedia Limited’s proposed acquisition of Speednet for the second time, citing insufficient information for a final determination. Board members convened in Belmopan on Wednesday, relocating from their Belize City headquarters due to a planned UDP demonstration, to scrutinize the transaction’s particulars.

    During the session, officials examined SSB’s substantial financial exposure in the deal, given the board’s existing ownership of over 34% of BTL shares. No formal vote was conducted as members unanimously agreed that additional clarification and comprehensive analysis were imperative before reaching any conclusion. The board confirmed that no approval has been granted for the telecommunications merger.

    This development marks the second deferral following the January 9 resignation of former SSB Chairperson Chandra Nisbet-Cansino, who reportedly opposed the acquisition as the board’s representative on BTL. Current board members have expressed similar reservations, with one official stating unequivocally that ‘members want more information.’

    The National Trade Union Congress of Belize has amplified these concerns, asserting in a pre-protest statement that there has been inadequate disclosure or meaningful consultation with contributors whose funds are potentially at risk. The NTUCB maintains that SSB should publicly oppose the transaction until complete due diligence is performed and contributor concerns are satisfactorily addressed.

  • Future of Tourism In Antigua by Hon. Gaston Browne Prime Minister of Antigua and Barbuda

    Future of Tourism In Antigua by Hon. Gaston Browne Prime Minister of Antigua and Barbuda

    Antigua and Barbuda is executing a comprehensive national strategy to fundamentally transform its tourism sector from a traditional revenue generator into a sophisticated engine for broad-based economic development. Facing a global industry reshaped by evolving traveler expectations, economic pressures, and environmental concerns, the nation is deliberately pivoting towards a high-value, luxury-focused model.

    The government’s vision moves beyond treating tourism as an isolated enclave industry. The new approach forges robust linkages with construction, agriculture, creative industries, and financial services to ensure wider economic participation. This is evidenced by the successful attraction of globally recognized luxury hotel brands and acclaimed culinary establishments like Nobu and Le Petit Maison, which enhance the islands’ gastronomic prestige while strengthening domestic supply chains and creating quality employment.

    Product diversification and enhancement are central to this transformation. The strategy prioritizes moving beyond the all-inclusive model towards delivering distinctive, authentic experiences integrated with the nation’s cultural and heritage assets. A critical component of this repositioning is addressing environmental stewardship. The government is implementing a nationwide cleanup, cracking down on illegal vending and littering, recognizing that a genuine luxury product cannot coexist with disorder and filth.

    Underpinning this economic shift is a massive investment in human capital and infrastructure. The establishment of new educational institutions like the Antigua & Barbuda College of Continuing Studies (ABCAS) and the University of the West Indies Five Islands Campus aims to create a skilled, motivated workforce. Concurrently, strategic investments modernize airports, seaports, and digital infrastructure. The ongoing installation of a publicly owned subsea cable will boost broadband reliability and speed, crucial for supporting AI-driven personalization, digital payment systems, and immersive technologies that enable seamless tourist experiences.

    Recognizing their vulnerability as a small island state, resilience and sustainability are now embedded into all tourism planning. This includes climate-resilient infrastructure, diversified source markets, and the protection of ecological treasures like beaches and reefs that form the foundation of the tourism economy. The government concludes that the future of tourism belongs to destinations that successfully demonstrate authenticity, environmental responsibility, and positive social impact, positioning Antigua and Barbuda to attract higher-value visitors and long-term investment through this holistic national effort.

  • SLM en LIAT Air verkennen samenwerking voor betere regionale luchtverbindingen

    SLM en LIAT Air verkennen samenwerking voor betere regionale luchtverbindingen

    In a significant development for Caribbean aviation, Surinam Airways and LIAT Air have initiated formal discussions to establish an interline partnership agreement. This strategic collaboration aims to substantially enhance air connectivity between the Caribbean region and South America, creating a more integrated transportation network for travelers.

  • PM tells World Governments Summit that Grenada never suspended debt payments

    PM tells World Governments Summit that Grenada never suspended debt payments

    Grenada’s government has formally announced the continuation of its fiscal emergency provisions through 2027, maintaining the suspension of the Escape Clause within the nation’s Fiscal Resilience Act. This decision, confirmed by Finance Minister Dennis Cornwall during parliamentary budget proceedings, represents the latest development in the Caribbean nation’s strategic approach to economic management during periods of crisis.

    The current administration’s fiscal policy framework has evolved significantly in recent years. Historical parliamentary records indicate that Grenada initially activated emergency fiscal measures under the previous Fiscal Responsibility Act from 2020 to 2022 during the COVID-19 pandemic. In 2023, the ruling National Democratic Congress government replaced this legislation with the new Fiscal Resilience Act, creating a more adaptable framework for economic challenges.

    Prime Minister Dickon Mitchell highlighted Grenada’s economic resilience during international discussions at the 2026 World Governments Summit, noting that the country successfully avoided both debt payment suspensions and drastic financial restructuring despite the dual challenges of the pandemic and Hurricane Beryl’s devastation in July 2024. The Prime Minister credited Grenada’s Citizenship by Investment program—recently rebranded as the Investment Migration Agency—for providing crucial economic stability through significant revenue contributions.

    The government’s approach to debt management has been strategic and measured. While Grenada participated in the Paris Club Debt Service Suspension Initiative in 2020, this arrangement required interest and penalty payments during the suspension period from May to December 2020. More recently, in August 2024, the government activated hurricane contingency provisions to defer approximately $17 million in bondholder payments following Hurricane Beryl, which caused an estimated $30 million in damages to the nation.

    This extended suspension of fiscal rules means that between 2020 and 2026, standard fiscal regulations were only fully operational during 2023, demonstrating the prolonged period of economic adaptation Grenada has maintained in response to consecutive crises.

  • Is the Tourism Industry Beginning to “Stabilise”?

    Is the Tourism Industry Beginning to “Stabilise”?

    The Central American nation of Belize has achieved a significant milestone in its tourism recovery, with official data for 2025 confirming sustained growth across both overnight stays and cruise passenger arrivals. According to statistics released by the Belize Tourism Board (BTB), the country welcomed 551,698 overnight visitors during the year, representing a modest yet meaningful 0.8% increase over 2024 figures.

    This incremental growth signals more than mere recovery, with BTB officials characterizing the performance as evidence of market stabilization at elevated post-pandemic levels. Notably, overnight arrivals have now surpassed pre-COVID benchmarks, standing approximately 10% higher than comparable 2019 statistics, indicating the sector has transitioned into a new phase of expansion.

    The cruise segment demonstrated particularly vigorous performance, with 967,214 passengers arriving in Belizean ports throughout 2025—an impressive 8% year-over-year increase. While still trailing the record-breaking 1 million passengers recorded in 2019, the numbers represent a remarkable recovery from the pandemic low of 210,214 recorded in 2021.

    BTB leadership attributes this success to coordinated efforts across Belize’s tourism ecosystem, emphasizing that strategic investments in infrastructure and visitor experiences have been instrumental in maintaining growth momentum. The data suggests Belize is successfully consolidating its position as a preferred Central American destination while building resilience against market fluctuations.

  • Fitch affirms Jamaica’s ‘BB-’ rating, outlook remains ‘stable’

    Fitch affirms Jamaica’s ‘BB-’ rating, outlook remains ‘stable’

    KINGSTON, Jamaica — In a significant endorsement of Jamaica’s economic resilience, Fitch Ratings has maintained the nation’s sovereign credit rating at BB- with a stable outlook. This decision comes despite the catastrophic impact of Hurricane Melissa, which struck the island nation in October 2025, causing an estimated $8.8 billion in damages equivalent to 40% of GDP.

    The rating agency specifically acknowledged the government’s unwavering commitment to macroeconomic stability while confronting one of the most devastating natural disasters in Jamaica’s modern history. The hurricane particularly devastated western regions, prompting massive reconstruction efforts that Fitch projects will cause temporary economic contractions of 1.5% in 2025 and 2.6% in 2026.

    Critical to maintaining the rating was Jamaica’s demonstrated financial preparedness, which Fitch characterized as ‘robust.’ The nation’s multi-layered risk management framework includes over $6.0 billion in concessional multilateral loan packages, approximately $250 million in government insurance and contingency reserves, additional credit lines, a $150 million catastrophe bond facility, and substantial anticipated private insurance disbursements.

    The agency further noted the government’s pragmatic fiscal response, including the temporary suspension of the Fiscal Responsibility Law to facilitate urgent reconstruction spending. While fiscal balances are expected to enter deficit territory during the 2025-2026 period, primary surpluses are projected to return by fiscal year 2027, keeping the government on track to reduce debt-to-GDP ratios toward 60%.

    Finance Minister Fayval Williams welcomed the rating affirmation, stating that Fitch’s recognition of Jamaica’s ‘strong decade-plus track record of adhering to a solid fiscal framework’ validates the government’s fiscal discipline and the sacrifices made by the Jamaican people.

  • ‘Shocked & disappointed’

    ‘Shocked & disappointed’

    A significant accounting failure at Jamaica Broilers Group (JBG) has triggered a financial crisis for one of its largest institutional investors, Mayberry Jamaican Equities Limited (MJE), erasing nearly $1 billion in portfolio value and contributing to one of the worst annual performances in MJE’s history.

    The scandal emerged from JBG’s U.S. operations, where accounting irregularities necessitated a massive $46 billion restatement of its 2024 audited financial statements. This restatement, primarily involving overstated inventories and biological assets, precipitated a catastrophic 53% plunge in JBG’s stock price throughout 2025.

    For MJE, the collapse was devastating. The investment firm recorded an $899 million unrealized loss on its JBG holdings, forming part of a broader $4.93 billion net loss for the year. MJE Chairman Chris Berry expressed profound shock and disappointment during an investor briefing, stating, “We still don’t really understand how it happened, why it happened… It’s a great tragedy for Jamaica, the Jamaica Stock Exchange, and for the company.”

    The fallout continues as accountability remains unclear. When questioned about remedial actions at JBG’s U.S. operations, Berry declined to elaborate. MJE’s exposure to JBG grew substantially over several years, with investments exceeding $1 billion since 2022, making MJE JBG’s fifth-largest shareholder before the collapse.

    JBG has implemented sweeping reforms including management overhaul, strengthened financial controls with IBM’s assistance, appointment of a new U.S. auditor, and a $24 billion refinancing package. The company’s audit committee is pursuing an electronic communication search requested by auditor PwC Jamaica, which issued a qualified opinion due to the absence of this investigation.

    Despite these measures, uncertainty persists. Bruce Bowen, chairman of JBG’s audit committee, revealed no intention to pursue further recovery actions related to the U.S. operations at this time. The company continues negotiations to resolve approximately $120 million in U.S.-related debt while implementing governance reforms including a comprehensive review by Cube Corporate Support Limited.

    The scandal has eroded investor confidence significantly, with JBG shares losing $22.45 billion in market capitalization during 2025, highlighting the profound impact of accounting governance failures on market stability and investor trust.

  • Chicken & Tings kicks off 2026 with staff appreciation celebration

    Chicken & Tings kicks off 2026 with staff appreciation celebration

    KINGSTON, Jamaica — In a significant investment in human capital, popular Jamaican restaurant chain Chicken & Tings commenced 2026 with an elaborate Staff Appreciation Day, temporarily suspending operations across all locations on January 26 to honor its workforce. The comprehensive celebration unfolded at Puerto Seco Beach Club followed by an exclusive dinner gathering at Plantation Smokehouse, assembling 120 employees from diverse branches and operational shifts.

    The event transcended conventional corporate gatherings through curated entertainment featuring performances by dancehall luminaries Skeng, Bishop Escobar, and Ding Dong with his Ravers group. The agenda incorporated team-building games, gourmet catering, and musical festivities designed to foster camaraderie beyond workplace formalities.

    Founder Emelio Madden articulated the philosophical underpinnings of this initiative to Observer Online: ‘Recognition transcends operational mechanics—it acknowledges that our enterprise thrives through people, not protocols. This ceremonial commencement establishes our annual tone: every team member represents a growth partner, not merely schedule filler.’

    Madden characterized the preceding year as a ‘transformative challenge,’ citing operational hurdles, expansion difficulties, and recovery from extreme weather events. These trials underscored critical lessons in structural reinforcement, transparent communication, and systemic accountability, ultimately demonstrating organizational resilience.

    For 2026, Chicken & Tings prioritizes dual objectives: corporate stabilization with planned expansion, coupled with enhanced employee development programs. Madden emphasized ‘stronger systems, advanced training, and clear career progression pathways’ as fundamental to cultivating workforce pride, security, and motivation.

    The proprietor directly linked staff morale to operational excellence, noting: ‘Valued employees manifest elevated engagement, superior collaboration, and deepened loyalty. This positive dynamism functionally advances corporate targets—inspired teams deliver exceptional outcomes.’

    When encapsulating the annual outlook, Madden elected ‘focused’ as the defining motif: concentration on growth benchmarks, quality standards, collaborative synergy, and collective advancement beyond prior achievements.