In a heated Senate debate on October 20, 2025, Belizean senators demanded clarity on Fortis Inc.’s decision to withdraw from the country’s energy sector and the potential ramifications for electricity costs and national energy independence. Union Senator Glenfield Dennison questioned the rationale behind Fortis, a seasoned power generation company, exiting the market while Belize, with limited expertise in the field, takes over. Dennison emphasized the critical role of water resources in hydroelectric power, urging a closer examination of the nation’s hydrological prospects. Church Senator Louis Wade echoed public concerns, highlighting Belize’s exorbitant electricity rates and stressing the need for affordable energy solutions. He acknowledged the symbolic significance of reclaiming control over Belize’s rivers but underscored the importance of tangible benefits for citizens. NGO Senator Janelle Chanona called for greater public awareness and a thorough cost-benefit analysis to assess the long-term impact of the acquisition. She noted that while electricity rates are perceived as high, a detailed tariff review is essential to determine future pricing. The senators’ inquiries reflect widespread unease about the transition and its potential to either alleviate or exacerbate Belize’s energy challenges.
分类： business
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VIDEO: PM Plans Minor Cabinet Reshuffle Later This Year
Prime Minister has announced plans for a minor cabinet reshuffle later this year. The reshuffle is expected to bring changes to key ministerial positions, though the specifics of the changes have not yet been disclosed. The announcement comes as part of the government’s ongoing efforts to optimize its administrative structure and address emerging challenges.
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Caribbean Development Bank fosters new agreement with OPEC Fund to cement sustainable goals in region
The Caribbean Development Bank (CDB) has solidified a landmark partnership with the OPEC Fund for International Development by signing a Memorandum of Understanding (MOU). This collaboration is designed to enhance financial opportunities and accelerate sustainable development across the Caribbean region. The agreement facilitates joint financing and co-financing initiatives in critical areas such as climate resilience, renewable energy, infrastructure, food security, trade financing, and youth development. It also underscores the importance of knowledge sharing, technical assistance, and capacity-building to empower Borrowing Member Countries (BMCs) with innovative solutions and expanded resources.
The MOU was formalized during a signing ceremony last week, coinciding with the International Monetary Fund-World Bank Annual Meetings in Washington D.C. CDB President Mr. Daniel Best emphasized the transformative potential of such strategic alliances. ‘Multilateral development banks must unite their expertise, resources, and priorities to address global challenges effectively and advance the Sustainable Development Goals. This partnership exemplifies the power of collaboration in creating lasting, positive change for the Caribbean,’ he stated.
The agreement outlines a framework for joint project development, technical assistance programs, and regional dialogues to promote inclusive and environmentally sustainable growth. Key focus areas include climate-smart agriculture, water security, digital connectivity, and private sector development, all aligned with CDB’s mission to enhance resilience and reduce poverty.
Mr. Best highlighted the partnership’s potential to unlock unprecedented opportunities for BMCs. ‘By combining the OPEC Fund’s global influence with CDB’s regional expertise, we can accelerate investments in infrastructure, climate adaptation, and human development. This will pave the way for a sustainable, inclusive, and prosperous future for the Caribbean,’ he added.
Additionally, the alliance is expected to bolster youth empowerment, vocational training, and innovative financial mechanisms such as debt-for-sustainability swaps and blue economy initiatives. These efforts will further cement the Caribbean’s leadership in climate resilience and sustainable development.
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Opposition Questions $256M Energy Deal: Can Belize Afford Fortis Buyout?
The Briceño Administration’s announcement of a $256 million deal to acquire Fortis’s operations in Belize has ignited a heated debate over the nation’s financial capacity to manage such a significant investment. The agreement includes Fortis’s 33% stake in Belize Electricity Limited (BEL), marking a pivotal step toward national energy control. However, the move has drawn sharp criticism from the opposition, led by Tracy Panton, who has raised serious concerns about the government’s ability to sustain the financial obligations tied to the deal. Panton highlighted recent costly repairs at key hydro facilities, including a $250,000 generator failure at the Chalillo Dam in December and additional repairs at the Mollejon Dam in June. She questioned whether Belize can afford the long-term financial burdens while ensuring reliable energy services. The deal, while ambitious, has left many questioning its feasibility and the potential impact on taxpayers.
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Entrepreneurs now have extra time to apply for Phillip Nassief Entrepreneurship Challenge and win up to $20,000
The GEMS Foundation has announced an extension of the application deadline for the 2025 Phillip Nassief Entrepreneurship Challenge, now set for December 8, 2025. This decision aims to provide more entrepreneurs across Dominica with the opportunity to participate, particularly during the busy Creole season, which sees many small businesses engaged in food, hospitality, culture, tourism, and entertainment. The Foundation emphasized its commitment to ensuring fair and accessible participation for all entrepreneurs after the festivities conclude. Supported by the Dominica Association of Industry and Commerce (DAIC), the competition honors the legacy of the late Phillip Nassief by fostering entrepreneurial spirit and innovation. The initiative focuses on empowering small enterprises in Dominica’s hospitality and tourism sectors, including food and beverage, agro-processing, wellness, technology, transportation, and marketing. Following the extended submission window, the judging process will conclude on January 28, 2026, with seven finalists advancing to the LIVE Ultimate Pitching Challenge on February 19, 2026. Finalists will receive mentorship from seasoned professionals to refine their business models and presentations. The top three winners will receive monetary awards: EC$20,000 for first place, EC$15,000 for second, and EC$10,000 for third, aimed at supporting business growth and sustainability. The GEMS Foundation encourages all applicants to review and complete their submissions by the new deadline. Further details and applications are available at www.gems.dm/foundation or via @gemsfoundation on social media.
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Agostini extends Prestige closing date for a fourth time
Agostini Ltd has once again postponed the closing date for its acquisition bid of Prestige Holdings Ltd, the local operator of prominent franchises including KFC, TGI Fridays, Subway, and Starbucks. This marks the fourth extension, with the new deadline now set for November 18. The announcement was made public on October 21 through a notice in local newspapers and on the Trinidad and Tobago Stock Exchange website. According to the notice, the delay is intended to allow for the completion of all necessary regulatory approvals, particularly the merger application submitted to the TT Fair Trade Commission. The initial share-swap proposal, introduced in June, offered one Agostini share for every 4.8 Prestige Holdings shares. Agostini has committed to purchasing all deposited shares within the timeframe mandated by securities law. The original closing date was July 20, with subsequent extensions pushing the deadline to August 5, September 5, and October 21. Agostini CEO Barry Davis previously cited delays in the share-swap process, attributing them to issues such as misplaced share certificates and the passing of some shareholders. Despite these challenges, Agostini confirmed on September 10 that it had secured the minimum shareholding required to proceed with the takeover.
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Canadian company to shutdown operations in Trinidad
PORT OF SPAIN, Trinidad (CMC) – Nutrien, the world’s leading potash producer, has announced the commencement of a controlled shutdown of its nitrogen operations at the Point Lisas facility in Trinidad. The shutdown, effective from Thursday this week, is attributed to port access restrictions imposed by Trinidad and Tobago’s National Energy Corporation (NEC) and an unreliable, uneconomical natural gas supply, which has significantly impacted the facility’s free cash flow over time. Nutrien emphasized that it will continue engaging with stakeholders and evaluating options for its remaining operations in Trinidad. The company produces approximately 85,000 tonnes of ammonia and 55,000 tonnes of urea monthly in Trinidad and Tobago. Despite the shutdown, Nutrien remains confident in achieving its 2025 annual nitrogen sales target of 10.7 to 11.2 million tonnes, bolstered by robust performance in its North American operations. Nutrien Ltd, a global leader in crop inputs and services, continues to navigate operational challenges while maintaining its strategic outlook.
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Melania Trump’s crypto architects accused of fraud
NEW YORK, United States (AFP) — The creators of the $MELANIA cryptocurrency, launched by US First Lady Melania Trump in January, are now facing serious allegations of orchestrating a scheme to manipulate its market value. Court documents filed on Tuesday reveal that the executives behind the Meteora cryptocurrency exchange platform, where $MELANIA was initially traded, are accused of facilitating a fraudulent operation that led to the coin’s dramatic price collapse.
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Transforming Tobago tourism
In a compelling appeal to Tobago’s tourism leaders, a concerned citizen has called for a transformative shift in the island’s tourism strategy. The current focus on luxury tourism, while beneficial in some aspects, risks creating economic exclusion and limiting opportunities for local communities. The author advocates for a more inclusive model termed ‘equal tourism,’ which aims to broaden participation and ensure that the benefits of tourism growth are shared equitably among citizens, small businesses, and communities. The proposal emphasizes the need for a balanced approach that prioritizes affordability, community engagement, and sustainable development. Key recommendations include reframing connectivity strategies, supporting mid-tier accommodations, expanding community-based tourism, and upgrading infrastructure. Additionally, the author stresses the importance of smarter marketing, stronger governance, and local empowerment to ensure Tobago’s tourism sector thrives in a way that benefits all stakeholders. The article highlights the success of similar strategies in other Caribbean nations and urges Tobago to embrace a model that reflects its unique identity and values. By fostering a tourism industry rooted in fairness and accessibility, Tobago can protect its natural beauty, cultural heritage, and community spirit while achieving long-term economic resilience.
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Netflix shares sink as quarterly profit misses mark
Netflix experienced a significant drop in its share price on Tuesday following the release of its quarterly earnings report, which revealed profits falling short of market expectations. The streaming giant reported a profit of $2.5 billion on revenue of $11.5 billion for the recently concluded quarter. However, the company faced a substantial $619 million expense due to an ongoing tax dispute with Brazilian authorities. Netflix CFO Spencer Neumann clarified that this expense was not an income tax but rather a cost associated with operating in Brazil, potentially affecting other companies as well. Neumann attributed the timing of this expense to a recent court ruling involving another company in Brazil. Consequently, Netflix shares plummeted over six percent in after-market trading, settling just below $1,163. Despite this setback, Netflix highlighted strong viewership in the UK and the US, driven by popular content such as ‘KPop Demon Hunters’ and the final season of ‘Stranger Things.’ The company also expressed optimism about its ad-supported membership tier, which saw its best sales quarter to date. Additionally, Netflix hinted at potential acquisitions, including Warner Brothers Discovery, as it continues to focus on organic growth and strategic opportunities.