分类: business

  • Brandstofprijzen voorlopig bevroren; regering volgt impact Midden-Oosten nauwlettend

    Brandstofprijzen voorlopig bevroren; regering volgt impact Midden-Oosten nauwlettend

    Against a backdrop of growing global economic uncertainty triggered by the ongoing conflict in the Middle East, the government of Suriname has announced a temporary fuel price cap to lock in current rates and protect domestic consumers from sudden volatile price swings.

    The decision, finalized following coordinated consultations between key stakeholders, the Ministry of Finance and Planning, and Staatsolie, Suriname’s state-owned oil company, fixes diesel prices at 53.27 Surinamese dollars and regular unleaded gasoline at 48.32 Surinamese dollars for the immediate future.

    Policy makers framed the measure as a proactive buffer designed to shield households and businesses from the unpredictable market shifts that often accompany regional geopolitical tensions in major energy-producing areas. The core priority of the intervention, officials emphasized, is to minimize the economic spillover that would disproportionately impact everyday citizens, while maintaining a careful balance between public expenditure and available state revenue.

    Suriname’s authorities have committed to continuous close monitoring of international market dynamics and the evolving situation in the Middle East, with regular evaluations of how global developments are impacting the domestic economy. Any future adjustments to the current fuel price policy will be communicated to the public in a timely manner to ensure full transparency and keep all segments of society informed of changing conditions.

  • Gasoline, diesel, and kerosene hit $17 for April 2026

    Gasoline, diesel, and kerosene hit $17 for April 2026

    Starting Saturday, April 18, 2026, consumers across Grenada, including its island dependencies Carriacou and Petite Martinique, will face substantially higher retail prices for most major petroleum products, according to an official price adjustment announcement.

    The new pricing structure brings uniform $17.00 Eastern Caribbean dollar (IG) per gallon pricing for three core liquid fuels, a shift that brings sharp increases from previous rates. Gasoline, which previously retailed for $15.18 per IG, will rise by $1.82 to hit the new unified rate. Diesel sees a more moderate increase of $0.89 per IG, climbing from its former $16.11 price to match the $17.00 benchmark. Kerosene bears the steepest hike among liquid fuels, jumping by $3.90 per IG from $13.10 to reach the $17.00 new price point.

    For liquefied petroleum gas (LPG), more commonly known to local households as cooking gas, pricing changes vary by cylinder size and geographic location. Across both the main island of Grenada and the smaller islands of Carriacou and Petite Martinique, the popular 20-pound household cooking gas cylinder will retain its current price, holding steady at $40.00 in Grenada and $49.00 in the smaller island dependencies. However, larger commercial and bulk LPG purchases will see notable increases. In Grenada, 100-pound LPG cylinders will rise from $296.60 to $350.00, a $53.40 increase, while bulk LPG will climb $0.55 per pound from $3.05 to $3.60. In Carriacou and Petite Martinique, 100-pound cylinders increase by $43.40 from $319.60 to $363.00, with bulk LPG following the same $0.55 per pound hike to $3.60 that applies to the main island.

    This official price adjustment, linked to Grenada’s finance ministry, will impact household budgets, transportation costs, and small business operating expenses across the country. Media outlet NOW Grenada notes that it holds no responsibility for contributor content related to this announcement, and encourages reporting of any abusive content related to the fuel price adjustment.

  • Newmont voert nieuw rooster in om vermoeidheid te verminderen; werktijden blijven gelijk

    Newmont voert nieuw rooster in om vermoeidheid te verminderen; werktijden blijven gelijk

    Paramaribo, Suriname – April 18 – Leading gold mining firm Newmont Suriname is set to implement a revised employee work rotation schedule from April 20 as the centerpiece of a company-wide Fatigue Risk Management program. The initiative is explicitly designed to cut workplace fatigue, strengthen overall site safety, and elevate the long-term wellbeing of the company’s on-site workforce.

    The most substantial change brought by the policy is an overhaul of the existing rotation structure. Previously, workers followed a 28-day cycle that split into two consecutive two-week blocks: 14 days of day shifts followed immediately by 14 days of night shifts. Under the new framework, the rotation will shorten each work block to one week, following a 21-day repeating cycle: 7 days of scheduled day shifts, 7 consecutive days of night shifts, and a full 7-day period of rest for employees between rotations.

    In addition to the adjusted block scheduling, the new policy requires employees to arrive at the work site one full day before their rotation is set to begin. This extra buffer time is intended to allow workers to acclimate to the site environment and get sufficient rest before starting their first shift, helping to reduce transition fatigue. Core daily shift hours will remain unchanged under the new plan, so workers will not face adjustments to the length or timing of their individual on-the-job shifts.

    Company leadership noted that the new roster was not developed in isolation. The policy went through an almost three-year consultation process, which included ongoing discussions with frontline employees and the official Newmont Employee Organization. Throughout the process, multiple competing scheduling models were evaluated for their impacts on worker health, operational output, and regulatory compliance. After reviewing all feedback and test data, the company selected the 7-7-7 rotation model for its balanced ability to support three key priorities: safety performance, employee health, and consistent production continuity across the mine’s operations.

    As compensation for the change to the rotation schedule, Newmont is also introducing tangible benefits for participating employees. All workers will receive a higher rotation-based allowance, along with additional paid time off days to offset the scheduling adjustments. The company has emphasized that the new full rotation structure meets all Surinamese labor laws and industry safety regulations. To ensure the new policy delivers on its intended goals, Newmont will closely monitor outcomes, worker feedback, and safety metrics after the policy goes into effect, adjusting elements of the program if needed to protect both worker interests and operational stability.

  • Briceño Leads High-Level Talks on Small States at Global Finance Meetings

    Briceño Leads High-Level Talks on Small States at Global Finance Meetings

    Against a backdrop of mounting global economic uncertainty, the 2026 Spring Meetings of the International Monetary Fund and World Bank Group kicked off a critical focused discussion this Friday in Washington D.C., where Belize Prime Minister John Briceño led high-level dialogue centered on the unique economic struggles of small states around the world.

    The core agenda of the closed-door session revolved around the World Bank Group’s newly unveiled Small States Strategy, a targeted policy framework that prioritizes inclusive job creation while directly tackling deep-rooted structural vulnerabilities and persistent exposure to external shocks that have long held back smaller national economies. Unlike one-size-fits-all development policies pushed in decades past, the new strategy is built to accommodate the unique scale and constraints of economies with small populations and limited domestic output.

    Opening the discussion, Prime Minister Briceño laid out the most pressing challenges currently facing small developing and developed states alike. He highlighted three interconnected crises tightening the grip on these economies: increasingly constrained global fiscal conditions that limit government borrowing and spending power, skyrocketing energy and food import costs that strain household budgets and trade balances, and the accelerating, disproportionate impacts of climate change that threaten to erase decades of development gains in coastal and small island states in particular.

    Briceño emphasized that generic global economic policy adjustments cannot deliver meaningful relief for small nations. Any effective response, he argued, must be custom-tailored to account for the inherent vulnerabilities and limited resource base that define small economies, arguing that traditional macroeconomic frameworks often fail to account for these unique attributes.

    The high-level discussion is one of dozens of focused engagements taking place during the week-long Spring Meetings, which bring together central bank governors, finance ministers, multilateral development leaders, private sector stakeholders and policy experts from across the globe to assess shifting global economic trends, coordinate collective action on shared cross-border challenges, and align new development initiatives to meet evolving global needs.

  • Girl Power

    Girl Power

    Against the backdrop of widespread industry disruption caused by Hurricane Melissa, which upended operations for businesses across Jamaica and left both workers and clients grappling with lasting challenges, Sagicor Group Jamaica’s 2025 performance stands out not just as an impressive achievement, but as a defining milestone for the regional financial services giant.

    Last Wednesday, the firm brought together hundreds of its top performers and regional stakeholders at Kingston’s Jamaica Pegasus hotel for its annual Sagicor Group Corporate Awards, an event that blends celebration of excellence, organizational culture-building, and forward-looking strategic announcements. Long renowned for reimagining its annual galas with immersive, creative themes drawn from cultural eras and curated aesthetic concepts, this year’s planning committee delivered an affair that was equal parts energetic, polished, and on-message, anchored by the overarching theme “One Caribbean – Where Legends Rise”.

    The chosen theme carried particular strategic weight this year, as Sagicor advances a key regional integration initiative: merging its Jamaican operating subsidiary, Sagicor Group Jamaica, and Sagicor Life Inc into a unified regional entity, Sagicor Group Caribbean. Beyond the strategic framing, the event stayed true to its long-standing tradition of an elevated, thematic dress code, requiring attendees to lean into shimmering metallic shades inspired by Caribbean island landscapes for the night’s festivities.

    Guests arrived hours in advance to take part in the much-anticipated red carpet opening, with hundreds lining up to capture shareable, memory-making photos at a custom-built event photo station. Many of the attendees posing for cameras were dubbed “Sagicor celebrities” – veteran high performers who have built their reputations within the company over years of outstanding results, in a corporate culture that prioritizes recognizing and rewarding consistent excellence.

    Christopher Zacca, President and CEO of Sagicor Group Jamaica, officially opened the ceremony, kicking off a night of awards, networking, and celebration. Attendees included a cross-section of top-performing financial advisors, executive leaders from across the firm, and regional stakeholders from Sagicor’s expanding Latin American and Caribbean operations, including representatives from Sagicor Costa Rica and Sagicor Latin America. The night honored top performers across business segments, with junior financial advisor Ava Blake, photographed on the red carpet earlier in the evening, ultimately taking home second place in the New Business, Employee Benefits category. Attendees turned out in an array of themed looks, from coordinated blue metallic gowns to trendy statement pieces from popular fashion brands, leaning into the night’s island-inspired aesthetic.

  • Luchtvaartmaatschappijen gaan over tot prijsverhogingen en aanpassingen

    Luchtvaartmaatschappijen gaan over tot prijsverhogingen en aanpassingen

    The global commercial aviation industry is facing an unprecedented financial shockwave, triggered by a dramatic spike in jet fuel prices fueled by escalating geopolitical conflict between the United States and Iran. Over the past several weeks, the cost of a barrel of jet fuel has skyrocketed, jumping from a stable range of $85 to $90 to between $150 and $200 – an increase that has upended cost projections for airlines across every region. For an industry where fuel expenses typically account for as much as 25% of total operating costs, this sudden surge has delivered a heavy blow to already fragile profit margins, forcing carriers around the world to implement urgent, sweeping adjustments to their operations and pricing strategies.

    Major airlines from every continent have moved quickly to mitigate growing losses, with a wide range of cost-cutting and revenue-raising measures now being rolled out. Greek carrier Aegean Airlines has warned that higher fuel costs and suspended services to the Middle East will deliver a visible hit to its first-quarter financial results. Long-haul budget operator AirAsia X, a subsidiary of Malaysia’s Capital A, has cut overall flight capacity by 10% and introduced a new 20% fuel surcharge on tickets. Air Canada has announced it will eliminate four daily flights to New York between June and October, directly citing elevated fuel expenses as the driving factor.

    European aviation giant Air France-KLM is raising long-haul round-trip fares by approximately €50 per ticket, while partner airline KLM will cut 160 short-haul European flights over the next month. Air India has shifted to a distance-based fuel surcharge model, replacing the previous fixed surcharge system that no longer covers the full extent of rising fuel costs. The Airline Operators of Nigeria has issued an ultimatum, threatening a total suspension of all domestic and international flights unless government officials intervene to lower local jet fuel prices.

    Air New Zealand has reduced flight frequencies across its network for May and June, implemented across-the-board fare hikes, and suspended its full-year profit guidance entirely. Indian startup carrier Akasa Air has introduced a new fuel surcharge ranging from $2 to $14 on both domestic and international routes. Two major U.S. carriers, Alaska Air and American Airlines, have sharply increased checked baggage fees to offset growing fuel outlays, a move that has been mirrored by fellow U.S. giant Delta Air Lines, which is also cutting overall network capacity and lowering its annual profit forecast.

    UK-based budget carrier EasyJet has warned that it will report a larger first-half operating loss than initially projected due to unplanned extra fuel costs, and has announced broad ticket price increases to counter the pressure. Germany’s Lufthansa is accelerating the retirement of 22 older aircraft from its fleet and cutting back on short- and medium-haul flight capacity, responding both to higher fuel prices and recent costly labor strikes. Australia’s Qantas Airways has upwardly revised its fuel cost projection for the second half of 2026 and delayed a planned share buyback program to preserve cash. A number of other major U.S. carriers including Southwest Airlines have followed the trend of raising baggage fees to pass a portion of higher operating costs onto consumers. Virgin Atlantic and Virgin Australia have both introduced new fuel surcharges and adjusted base fares to limit growing losses.

    Across Asia, many leading carriers have also taken aggressive action: China Eastern Airlines, Cathay Pacific, Korean Air and Vietnam Airlines have rolled out a range of measures, from raising fuel surcharges and cutting underperforming routes to requesting government financial support to weather the crisis.

    Persistent elevated jet fuel prices have put the entire global aviation sector under intense strain. While a small number of carriers that locked in fuel hedging contracts at lower price points have been able to maintain stable ticket prices for the time being, most other airlines have been forced to pass increased costs directly onto passengers. The coming months will be a critical test for the global aviation industry, which remains mired in deep uncertainty over how long the US-Iran conflict will last and how long jet fuel prices will stay at these historically high levels.

  • Residential construction is growing unstoppably in Punta Cana

    Residential construction is growing unstoppably in Punta Cana

    Against all industry warnings and existing market conditions, large-scale real estate development is not slowing down — it is accelerating — in Punta Cana/Bávaro, the Dominican Republic’s already oversaturated top tourist hub. The region’s residential tourism sector, which caters to second-home buyers and long-term vacationers, has maintained steady moderate demand in recent years, sparking a wave of new construction that shows no immediate signs of stopping. Today, new announcements of high-unit residential developments are a frequent occurrence, with many projects being sited in previously undeveloped third-tier locations that once would have been overlooked by major investors.

    The most recent high-profile project to be unveiled comes from a Spanish development firm, which is set to construct roughly 900 apartments and a 100-room hospitality property behind Almacenes Unidos. In fact, the majority of new development groups entering the Punta Cana/Bávaro market in recent months hail from Spain, and their leadership remains confident that their offerings stand out from the thousands of existing units already available.

    This construction boom is moving forward despite consistent advice from real estate experts that developers should hit pause on new residential projects. Industry analysts have long flagged widespread oversupply across Punta Cana/Bávaro and the broader eastern Dominican coast, a warning that developers have chosen to ignore. According to industry sources familiar with regional development pipelines, roughly 30,000 new residential units — including both apartments and standalone villas — are planned for completion in the short term, with some market insiders suggesting the actual total could be even higher.

    The most ambitious of all these planned projects comes from development firm Larimar, which has announced plans to build 10,000 new homes in a remote inland area far from the region’s popular beaches and central tourist corridors. Access to the project site is already limited, requiring travelers to pass through the town of Verón along narrow, already congested routes. While the region has experienced rapid population and tourism growth in recent years, the breakneck pace of new housing construction has not been matched by parallel expansion of critical public infrastructure. Road networks, water systems, and other basic utilities needed to support tens of thousands of new residents have not kept pace, creating a growing gap between development and infrastructure capacity. Adding to market concerns, overall demand for residential units in the region has begun to stagnate, raising questions about the long-term sustainability of the current construction boom.

  • Bus Operators Seek Parity, Not Immediate Hike

    Bus Operators Seek Parity, Not Immediate Hike

    Scheduled for publication on April 17, 2026, the latest update from Belize’s public transportation sector brings a temporary de-escalation of tensions, after private bus operators reached a preliminary agreement with government officials following closed-door talks this Thursday.

    The Belize Bus Association (BBA), which represents the country’s private bus operators, had previously planned to suspend all services starting this coming Monday to push for changes to their fare structure. However, after a productive meeting with the Ministry of Transport, the group has agreed to delay any industrial action to allow the national Cabinet time to review their request. Crucially, the association is not calling for an entirely new fare increase — instead, it is asking for administrative approval to align its fares with the rate already charged by the state-owned National Bus Company (NBC).

    Currently, private operators are limited to a 14-cent fare, while NBC charges 19 cents for equivalent service. BBA president Philip Jones explained that the group made a deliberate choice to avoid pushing for a new hike that would place extra financial strain on commuters, who are already navigating widespread economic hardship. “We know we are in some tough times and we don’t want to pass that on to our commuters because that will be extremely hard for them,” Jones said in a statement following the talks. “We are not asking for a price increase — we just want permission to charge the same 19-cent rate that NBC already uses.”

    Jones added that the BBA set aside discussions of other longstanding sticking points during this week’s meeting, including the goods and services tax (GST) on operational costs and outstanding government subsidy payments, to focus on reaching a quick resolution on fare parity. Per the agreement reached with the transport minister, the BBA has agreed to hold off on its planned Monday shutdown to give the Cabinet space to deliberate on the request during its scheduled Tuesday meeting. If the Cabinet delivers a favorable outcome, the service suspension will be called off entirely. But Jones warned that if no acceptable solution is reached this week, all private bus services across the country will be shut down starting Wednesday.

    “Our members have acted in good faith to give the government time to work through this issue,” Jones noted. “We have been reasonable from the start, and we expect a fair response.”

    Beyond the immediate fare dispute, Jones also shared perspective on the deeper structural divides shaping Belize’s public bus sector, pointing out that the state-run NBC faces outsized operational challenges that private small-scale operators do not contend with. While higher fuel and labor costs have strained all transportation providers in recent months, Jones argued that NBC’s bloated hierarchical structure puts the company at a unique disadvantage compared to smaller private operations.

    “When you compare NBC to the small private operator, the small operator doesn’t carry the cost of a large management team with six or seven high-salaried executives,” Jones explained. “Small operators often handle maintenance and repairs themselves instead of outsourcing service work, and their overall overhead is far lower. For NBC, by contrast, every layer of management adds to daily operational costs. It makes no sense that NBC can sustain its current lower-cost fares without ongoing government support — there’s no way they could operate more efficiently than the small local business owners running private routes right now.”

    News outlets covering Belize’s transportation sector will continue to monitor developments closely, with a full outcome expected following the Cabinet’s Tuesday meeting. Any disruption to service would impact thousands of daily commuters who rely on private and public bus routes for work, school, and essential travel across the country.

  • Documents Reveal Stark Contrast in BEL Exit Packages

    Documents Reveal Stark Contrast in BEL Exit Packages

    A bombshell set of internal documents obtained by local outlet News Five has pulled back the curtain on unequal treatment of departing workers at Belize Electricity Limited (BEL), revealing a jaw-dropping gap between exit packages granted to top executives and long-tenured frontline staff. The investigation, first launched this Wednesday, has now centered on the case of a long-serving union activist whose terms of separation stand in stark contrast to those of a senior leader who left the company more than a decade ago. Investigative correspondent Shane Williams breaks down the disparities exposed by the official internal records.

    Two official termination notices, both issued by the same state-linked utility provider, tell two wildly different stories of separation. Back in June 2011, a high-ranking BEL executive left the company with a cumulative severance and benefits package totaling more than half a million Belize dollars. The breakdown of the payout includes $45,000 for accrued unused vacation time, over $300,000 drawn from the company’s pension contribution pool, and a full year of salary as severance, valued at more than $156,000. No deductions were applied to this payout, and all owed compensation was disbursed in full per the executive’s exit terms.

    Jump ahead to November 2023, and the experience of 31-year company veteran Sean Nicholas — a member of the advocacy group Belize Energy Workers for Justice — could not be more different. Nicholas was terminated on medical grounds after suffering two strokes on the job: the first in 2019, and a second in 2022, before he departed Belize for ongoing medical care in 2023. His exit statement shows unusual and costly deductions taken from his final payout: the company subtracted the cost of social security benefits he accessed during his stroke recovery leave, and adjusted his balance to account for his personal pension contributions outpacing the company’s contribution growth. Most notably, Nicholas’ exit package includes no severance payment at all — a stark departure from the six-figure severance granted to the 2011 executive. After all deductions were applied, Nicholas actually owed the company money upon his departure after 31 years of service.

    Following the initial release of documents this Wednesday, News Five reached out to BEL leadership to request an explanation for the clear disparity between the two cases. In an official response released Thursday, BEL stated that all departing employee compensation is processed in line with the company’s internal policies and all applicable Belizean labor laws. The company added that personnel records are protected as private confidential information, and no further details on individual exit packages can be released without the explicit written consent of the former employees in question.

    Looking ahead, other members of Belize Energy Workers for Justice are planning to release their own termination and exit package documents at a public protest scheduled for Friday morning at Belize City’s Michael Finnegan Market, where they will call for greater transparency and fair treatment of utility workers. This report comes from Shane Williams, for News Five.

  • Bajan named to UN Africa ratings council

    Bajan named to UN Africa ratings council

    A leading Barbadian development economist and sovereign credit expert, Kelvin Dalrymple, has secured a prestigious appointment to a high-profile United Nations council focused on lifting credit ratings for sovereign nations across Africa. With more than two and a half decades of global experience spanning central banking, multilateral financial institutions, and credit analysis, Dalrymple brings unparalleled expertise to this new role.

    Dalrymple, who previously served as lead analyst for Sub-Saharan Africa and multilateral development banks at top global credit rating agency Moody’s Investors Service, will join the 12-member elite Consilium of Advisors under the United Nations Development Programme. The council operates in service of the Africa Credit Ratings Initiative (ACRI), a targeted program designed to upskill African governments and strengthen their institutional capacity to navigate the complex, often opaque sovereign credit rating process. By helping countries improve their credit profiles, ACRI aims to unlock more favorable borrowing terms and expand access to low-cost international capital for critical development projects.

    The announcement of Dalrymple’s appointment came alongside his participation in the annual Barbados Risk & Insurance Management Conference (BRIM), hosted by the Association for Global Business (BIBA) in Bridgetown. Addressing nearly 300 hybrid-format international conference delegates, Dalrymple emphasized the growing urgency of investment-grade credit ratings for developing economies worldwide. As traditional donor and development financing continues to contract across much of the Global South, an increasing number of low- and middle-income nations are turning to open global capital markets to fund infrastructure, social programs, and economic growth.

    “Many countries are at a critical juncture where donor funds have dried up, and they now have to turn to capital markets to borrow for development,” Dalrymple explained to attendees, referencing his decades of work across the Caribbean and Sub-Saharan Africa. As founder and chief executive officer of The Ratings Advisory Clinic (TRAC), a boutique strategic advisory firm, Dalrymple already supports emerging and frontier economies across multiple core areas: sovereign credit rating strategy, fiscal reform design, debt sustainability planning, and the development of inclusive, effective development policy frameworks.

    Dalrymple’s career trajectory spans key leadership roles across public and private global finance. He began his professional journey as an economist at the Central Bank of Barbados, before rising to Director of Research and Planning and later serving as Economic Advisor to the Prime Minister of Barbados. He went on to hold the position of Chief Economist at the Caribbean Development Bank, and has also served as alternate executive director at the World Bank and senior advisor to the executive director at the International Monetary Fund, where he represented the interests of Canada, Ireland, and a bloc of Caribbean nations. Prior to launching TRAC, he held the role of vice president and senior credit officer at Moody’s London office, cementing his expertise in global sovereign credit analysis.